Global Acrylic Acid Market is Expected to Reach USD 20.0 Billion by 2018: Transparency Market Research
Albany, NY -- (SBWIRE) -- 05/23/2014 -- Acrylic acid that was over USD 13.6 billion in 2012 is expected to increase to USD 20.0 billion by 2018, growing at a CAGR of 6.5% from 2012 to 2018.
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The global acrylic acid market has witnessed strong growth in the recent years due to rising demand from super absorbent polymers and adhesives and sealants industry. Increasing demand for super absorbent polymers in emerging economies has remained the key driver for this industry. Moreover, increase in construction and building activities in emerging economies is expected to keep driving demand for the acrylic acid during the forecast period. Since, propylene is a key raw material used in the manufacture of acrylic acid and any fluctuations in the prices of propylene significantly alters the profit margins of acrylic acid manufacturers. Volatile price of raw materials is one of the major factors inhibiting the acrylic acid market. The global prices of propylene reached USD 1800 per ton in 2011 and are expected to rise further due to increase in crude oil prices and supply constraints. Moreover, stringent regulations in North America and Europe are expected to affect market growth in the near future.
Acrylic esters, glacial acrylic acid, ammonium polyacrylate and cyanopolyacrylate are the key derivatives of acrylic acid. Large volumes of acrylic acid were used for production of acrylate esters, which accounted for over 51% of total acrylic acid consumed in 2012. Methyl acrylate, ethyl acrylate, butyl acrylate, and 2-ethylhexyl acrylate are the key types of acrylic esters and are most widely used in surface coatings, adhesives and sealants, textiles, plastic additives, printing ink, etc. However, it is expected to exhibit slowest growth among all derivatives of the acrylic acid during the forecast period. Glacial acrylic acid was the second largest outlet for the acrylic acid. Glacial acrylic is mainly employed in the manufacturing of super absorbent polymers. Super absorbent polymers are compounds of glacial acrylic acid mainly used in disposable hygiene applications. It is used in manufacturing baby diapers and training pants, adult diapers and feminine hygiene products. Poly acrylic acid is another important application of glacial acrylic acid and is mainly used in water treatment, detergent co-builder and mineral processing.
Asia Pacific dominated the market in terms of volume as well as revenue and accounted for over 40% of the global demand in 2012. Moreover, Asia Pacific is estimated to be the fastest growing region over the next six years and expected to grow at a CAGR of 6.0% from 2012 to 2018. The rapidly growing construction industry in emerging economies such as China, South Korea and India has propelled the growth of the acrylic acid and its derivatives market in the Asia Pacific region. North Americaand Europe accounted for second and third largest share of the global acrylic acid volume consumption in 2012.
Acrylic acid manufacturing is a capital intensive process and is dominated by large multinational companies. Some of the leading industry participants in this market include BASF SE, Dow Chemical, StoHass Monomer, Rohm and Haas, Formosa Plastics, Nikkon Shokubai, Arkema SA and so on.
Acrylic Acid: Product Segment Analysis
- Acrylate Esters
- Acrylate Esters: By product
- Methyl acrylate
- Ethyl acrylate
- Butyl acrylate
- 2-ethylhexyl acrylate
- Acrylate Esters: By application
- Surface Coatings
- Adhesives and sealants
- Plastic additives
- Printing ink
- Others (Papers, etc.)
- Glacial Acrylic Acid
o Glacial Acrylic Acid: By application
- Superabsorbent polymers (SAP)
- Poly acrylic acid
Acrylic Acid: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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