Mumbai, India -- (SBWIRE) -- 09/29/2020 -- Prismane Consulting has published its Global Acrylic Acid Market Study Report and Market Model.
Acrylic acid is an organic compound used as building blocks for many polymer formulations.It is now produced by oxidation of propylene, derived from refining crude oil.
Historically, acrylic acid market has been dominated by Asia-Pacific in volume terms, which has seen an average growth in demand of 8% per annum in the period 2000 to 2015. The growth in North America and Western Europe was much slower as compared to other regions. In the long term forecast, the demand from developing countries like China and India is expected to lead the higher growth from Asian markets.
Currently, Asia Pacific is the world's largest acrylic acid manufacturer and consumer, followed by North America and Europe. The global acrylic acid demand is led by Asia-Pacific, owing to the strong demand from key end-use applications. Over 50% of the global acrylic acid is produced in Asia-Pacific. China accounts for the major share followed by Japan, India, South Korea, and Thailand. The region will continue its dominance with strong demand from end use industries.
The acrylic acid industry is moving towards sustainability, with a number of industry collaborations in place for the commercialization of bio-based versions. In September 2019, U.S. based Archer Daniels Midland (ADM) Company and Korea based LG Chem. Ltd. announced their joint collaboration to produce bio-based acrylic acid to develop sustainable superabsorbent polymers for use in hygiene products. Cargill, Inc has re-entered the bio-based acrylic acid development, this time with the global branded consumer packaged goods, Procter & Gamble (P&G). The companies have collaborated to produce acrylic acid from corn dextrose.
Global Acrylic acid Market, By Type
- Commodity Acrylates
- Glacial Acrylic Acid
Global Acrylic Acid Market, By Application
- Acrylic Esters
- Surface Coatings
- Paper Coatings
- Detergents
- Textile
- Adhesives & Sealants
- Plastic Additives/ Co-monomers
- Others
- Glacial Acrylic acid
-Superabsorbent Polymers (SAP)
- Diapers
- Textiles
- Others
- Water Treatment Chemicals
- Others
The key companies manufacturing Acrylic acid are Dow, Arkema, BASF, LG Chem, Zhejiang Satellite, Nippon Shokubai, SIBUR, Sasol, Mitsubishi Chemical Corporation, Formosa Plastics, Saudi Acrylic Acid Co., Wanhua Petrochemical (Yantai) Co., Ltd., etc.
The Acrylic acid market study – 2020 Market study covers:
Market Data, Country Summaries & Product Review
- Global Demand Supply& Market Analysis
- Acrylic acid Market data in terms of volume and value for each end-use at regional and country level
- Acrylic acid Market analysis for Production, Capacity, Demand, at Regional and Country level
- Demand Composition, by Type and Application
- Trade (Import, Export and Net Export)
- Capacity & Production
- Latest Trends and market developments
- Key Players
- Process technology
- Strategic Issues and Recommendations
- Market / Product Outlook (Historical, Short, Mid and Long-term forecast)
- Business Opportunities & Challenges
- Strategic Analysis and High-level information on Market Entry, Best Strategies adopted
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