Global Acrylic Acid Market Will Growing at 4.70% CAGR from 2014 to 2020
Deerfield Beach, FL -- (SBWIRE) -- 09/04/2017 -- Zion Market Research has published a new report titled "Acrylic Acid (Acrylate Esters, Glacial Acrylic Acid Market & Others) Market for Superabsorbent Polymers & Surface Coatings, Adhesives & Sealants, Textiles, Plastic Additives, Printing Ink and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020." According to the report, global demand for the acrylic acid market was valued at USD 15.50 billion in 2014 and is expected to generate revenue of USD 22.50 billion by end of 2020, growing at a CAGR of 6.5% between 2015 and 2020. In terms of volume, the global acrylic acid market stood at above 5.85 million tons in 2014.
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Acrylic acid is also known as prop-2-enoic acid is an organic compound with the formula CH2=CHCO2H. Acrylic acid is a colorless liquid with a pungent smelling and irritating acrid odor at room temperature. Acrylic acid & its derivatives are used in many industries for wide ranging applications. Acrylic acid is mainly used as raw material for the production of coatings, acrylic resins, acrylates, adhesives, elastomer, and super absorbent polymers. Acrylic acid also finds a host of applications in dispersants, flocculants, thickening agents, and adhesives, etc. It is miscible with water, ethers, chloroform, and alcohols. A large portion of acrylic acid is used as a feedstock for obtaining acrylate esters. Acrylic acid is used in the manufacture of plastics, latex applications, floor polish, emulsion polymers, paper coatings, and paint formulations.
The global acrylic acid market is primarily driven by growth in the recent years owing to increasing demand from super absorbent polymers (SUP) and adhesives industry. Increasing demand from super absorbent polymers in emerging economies has remained the key driver for this industry. However, unstable prices of raw material and increasingly stringent environmental regulations are expected to be major concern for acrylic acid market.
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Major product segments of the acrylic acid include acrylate esters, glacial acrylic acid, and others. Acrylate esters are sub-segmented into methyl, butyl, ethyl acrylates and 2- ethylhexyl acrylate (2-EHA). Acrylate esters are primarily used in surface coatings followed by adhesives and sealants, textiles, plastic additives and printing ink. Acrylate esters accounted for over 50% share of the total acrylic acid volume consumed in 2014. However, acrylate esters are expected to lose their market share to glacial acrylic acid and other derivatives during the forecast period. Glacial acrylic acid includes in sub-type application such as superabsorbent polymers (SAP), poly acrylic acid market, others. Glacial acrylic acid was the second largest market segment in 2014. It is mainly used in the manufacture of superabsorbent polymers. It is used in manufacturing baby diapers, feminine hygiene products, and adult diapers.
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Asia Pacific was the dominated the global acrylic acid market with around 45% share of the overall volume consumption in 2014. Asia Pacific was followed by North America and Europe in 2014. Asia Pacific is further expected to exhibit robust growth during the forecast period. The rapidly growing construction and building industry in emerging economies such as China and India has boosted the growth of the acrylic acid market in the Asia Pacific region.
Some of the key player for globe acrylic acid market includesAkrilat, American Acryl, BASF SE, Formosa Plastics, Rohm and Haas, Dow Chemical Company, LG Chem, Mitsubishi Chemical, StoHaas Monomer, Nippon Shokubai, Arkema.
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