Base Year
Historical Year
Forecast Year
The global acrylic acid market size attained a volume of approximately 8.44 MMT in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.1%, reaching a volume of around 13.21 MMT by 2032.
| Global Acrylic Acid Market Report Summary | Description | Value |
| Base Year | MMT | 2023 |
| Historical Period | MMT | 2018-2023 |
| Forecast Period | MMT | 2024-2032 |
| Market Size 2023 | MMT | 8.44 |
| Market Size 2032 | MMT | 13.21 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 5.1% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 5.6% |
| CAGR 2024-2032 - Market by Country | India | 6.4% |
| CAGR 2024-2032 - Market by Country | China | 5.6% |
| CAGR 2024-2032 - Market by Application | Super Absorbent Polymer (SAP) | 5.7% |
| CAGR 2024-2032 - Market by Application | Acrylate Esters | 5.4% |
| Market Share by Country 2023 | UK | 3.5% |
Acrylic acid is used to make a variety of goods, including flat sheets, plastic extruded tubes, moulded goods, paints, and other industrial chemicals. Engineering plastics, co-polymers, and paints and coatings industries are key end users of acrylic acid as a raw material. The acrylic acid market has enormous potential in a wide range of applications, including paints, surface coatings, emulsion coatings, adhesives, and sealants. Due to its transparency and stain-resistance, acrylic acid is being used more frequently.
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The use of bio-acrylic acid in adhesives and sealants offers a promising chance to create more environmentally responsible and long-lasting products. This can aid in satisfying the rising need for eco-friendly solutions across a variety of industries, including construction, automotive, and aerospace, thus aiding the bio acrylic acid market.
The Asia Pacific is the largest regional market for acrylic acid, led by China which represents the fastest-growing market in the region. China offers low production costs and an abundant supply availability to other regional markets. The market for acrylic acid in the Asia Pacific region is being driven by the growth in industries like construction, personal care products, and paints (coating), which use acrylic acid and its derivatives in their products. The region is also a major exporter of acrylic acid, with the excess supply being exported to regions like the Middle East and Africa, Europe, and Latin America to meet the rising demand from industries like acrylate esters and consumer packaged goods.
The demand for acrylic acid is being significantly driven by rising sectors like construction, superabsorbent polymers, and automobile industries, particularly in emerging economies like China, India, and Brazil. The increasing per capita consumption, the growing penetration rate of diapers, and the rising disposable incomes in India, China, and other Asian countries are further enabling the growth of the acrylic acid global market. An expected increase in the demand for acrylic acid from the surface coatings industry in the Asia Pacific and the seasonal demand from the construction industry in North America and Europe will continue to drive the market of acrylic acid.
Acrylic acid is also known by different names like propene acid, vinyl formic acid, or 2-proenoic acid. It is a clear, corrosive, colourless, and combustible liquid that has a pungent or unpleasantly bitter smell. Acrylic acid is widely used as an absorbent in various products. Due to its highly reactive nature, it reacts with alcohol to form acrylates, which are used in a variety of polymers, which find extensive applications in hygiene products.
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Furthermore, acrylic acid is utilised in the form of super absorbent polymer (SAP) in disposable baby diapers, feminine hygiene products, adult incontinency products, agriculture, and pharmaceuticals, among others. It is also used in the form of acrylate esters like methyl acrylate and 2-ethylhexyl acrylate in polymer coatings and finishes, adhesives, sealants, plastics, textiles, paints, coatings, inks, engineered plastics, and lubricating oil additives, among others. It also enables water treatment and production of detergents.
Based on application, the market is segmented into:
The report also covers the regional markets of acrylic acid like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
| CAGR 2024-2032 - Market by | Country |
| India | 6.4% |
| China | 5.6% |
| UK | 4.7% |
| USA | 4.5% |
| Italy | 3.6% |
| Canada | XX% |
| Germany | XX% |
| France | XX% |
| Japan | 3.5% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
The global acrylic acid market is expected to be driven by the increasing demand for acrylic acid in surface coatings in the Asia Pacific region. Its demand is also expected to be driven by the superabsorbent polymers industry. In emerging nations, such as China and India, the market for disposable baby diapers is witnessing a stable growth due to the low penetration rate of diapers, which is further expected to support the market for acrylic acid. The market is also expected to be driven by industries such as water treatment and detergent co-builders, which are projected to witness a healthy growth during the forecast period.
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The increasing demand for personal hygiene, coatings, and paints from emerging countries like Brazil, China, and India, is propelling the market for acrylic acid. The growth of industrial sectors like construction and automobile are acting as an additional impetus for the market growth. In the United States, the European Union, and the Asia Pacific the automobile market is witnessing a growing demand, which in turn is driving the acrylic acid market demand. In North America, the increasing demand from the automobile and construction industries is a primary driver for the acrylic acid demand.
The report gives a detailed analysis of the following key players in the global acrylic acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the global market for acrylic acid attained a volume of approximately 8.44 MMT.
The market is projected to grow at a CAGR of 5.10% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of around 13.21 MMT by 2032.
The major drivers of the market include rising disposable incomes, growth of construction, superabsorbent polymers, and automobile industries, and increasing population.
The key acrylic acid market trends include the rising demand for water treatment and detergent co-builders, improvements in production, and increasing usage of diapers.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading applications of acrylic acid in the market are acrylate esters, and super absorbent polymer (SAP), among others.
The major players in the market, according to the report, are BASF SE, Nippon Shokubai Co. Ltd., The Dow Chemical Company, Arkema Group, LG Chem. Ltd., Shanghai Huayi Acrylic Acid Co., Ltd, Evonik Industries AG, Mitsubishi Chemical Corporation, SIBUR International GmbH, Satellite Chemical Co.,Ltd., Wanhua Petrochemical (Yantai) Co., Ltd., Toagosei Co., Ltd, and China Petroleum & Chemical Corporation, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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