Download Sample, Demand from Paints and Coatings and Rising Use of Superabsorbent Polymers Driving the Market Growth
The requirement from the paints and coatings industry is a major factor propelling the acrylic acid market, affecting its expansion through multiple avenues. Acrylic acid serves as a key raw ingredient for the manufacture of acrylate esters, essential in creating different types of paints and coatings. These esters improve features such as adhesion, durability, and weather resistance, rendering them suitable for both architectural and industrial uses. The adaptability of acrylic acid derivatives facilitates their application in diverse kinds of coatings, such as those designed for automotive finishes, architectural coatings, and coatings for special purposes. This wide-ranging applicability guarantees a consistent demand from different sectors within the paints and coatings market.
Heightened construction activities and infrastructure advancements worldwide are propelling the demand for superior paints and coatings. With the rapid pace of urbanization, the need for long-lasting and visually appealing coatings in buildings and public facilities increases, subsequently enhancing the acrylic acid market. In August 2024, the overall construction starts rose by 6% to a seasonally adjusted yearly rate of US$12 trillion. This represented a 4% rise year to date compared to the first eight months of 2023. In conclusion, the paints and coatings industry significantly contributes to the acrylic acid market by leveraging its characteristics to improve product performance in multiple applications. The continuous expansion in construction, automotive finishes, and industrial coatings highlights the critical role of acrylic acid as a key component in these products.
The increasing application of superabsorbent polymers is expanding the acrylic acid market. Acrylic acid serves as an essential raw material in producing superabsorbent polymers. The synthesis of these polymers occurs through the polymerization of acrylic acid with sodium hydroxide which leads to polyacrylic acid, which has remarkable liquid absorption properties. As more households choose disposable diapers, the demand for acrylic acid to manufacture these SAPs rises correspondingly. The rising worldwide birth rates and the expanding elderly demographic are fueling the need for these items consequently enhancing the use of acrylic acid.
Increasing awareness about hygiene and sanitation, particularly in developing countries, is driving the adoption of superabsorbent polymers in sanitary items. Governments and NGOs are encouraging hygiene practices, which additionally boosts the need for products that incorporate SAPs. In conclusion, the growing adoption of superabsorbent polymers is a major catalyst for the acrylic acid market, driven by a rising need for personal care items, greater awareness of cleanliness, and persistent advancements toward eco-friendly solutions. As these trends keep progressing, they are expected to boost the usage of acrylic acid across multiple applications.
Heightened construction activities and infrastructure advancements worldwide are propelling the demand for superior paints and coatings. With the rapid pace of urbanization, the need for long-lasting and visually appealing coatings in buildings and public facilities increases, subsequently enhancing the acrylic acid market. In August 2024, the overall construction starts rose by 6% to a seasonally adjusted yearly rate of US$12 trillion. This represented a 4% rise year to date compared to the first eight months of 2023. In conclusion, the paints and coatings industry significantly contributes to the acrylic acid market by leveraging its characteristics to improve product performance in multiple applications. The continuous expansion in construction, automotive finishes, and industrial coatings highlights the critical role of acrylic acid as a key component in these products.
The increasing application of superabsorbent polymers is expanding the acrylic acid market. Acrylic acid serves as an essential raw material in producing superabsorbent polymers. The synthesis of these polymers occurs through the polymerization of acrylic acid with sodium hydroxide which leads to polyacrylic acid, which has remarkable liquid absorption properties. As more households choose disposable diapers, the demand for acrylic acid to manufacture these SAPs rises correspondingly. The rising worldwide birth rates and the expanding elderly demographic are fueling the need for these items consequently enhancing the use of acrylic acid.
Increasing awareness about hygiene and sanitation, particularly in developing countries, is driving the adoption of superabsorbent polymers in sanitary items. Governments and NGOs are encouraging hygiene practices, which additionally boosts the need for products that incorporate SAPs. In conclusion, the growing adoption of superabsorbent polymers is a major catalyst for the acrylic acid market, driven by a rising need for personal care items, greater awareness of cleanliness, and persistent advancements toward eco-friendly solutions. As these trends keep progressing, they are expected to boost the usage of acrylic acid across multiple applications.
Growth of the Personal Care Industry and Growing Demand for Bio-based Acrylic Derivatives Hold Potential to Transform the Market
The expansion of the personal care sector offers considerable prospects for the acrylic acid market, mainly fueled by the rising need for superabsorbent polymers. Acrylic acid serves as a fundamental raw material in creating superabsorbent polymers which are crucial for a range of personal care products such as diapers, adult incontinence items, and feminine hygiene products. The growing global population and aging demographics are fueling the demand for these hygiene items consequently increasing the usage of acrylic acid. Gaining awareness about personal cleanliness and sanitation is driving consumers towards premium hygiene items. Efforts focused on enhancing health are leading to greater acceptance and utilization of SAP-based products. This movement directly enhances the demand for acrylic acid as producers react to consumer requirements for efficient hygiene options.
Obtaining certifications for different products is vital in improving market prospects and competitiveness. For instance, in February 2023, Nippon Shokubai Co., Ltd obtained ISCC PLUS certification for multiple products, such as acrylic acid, superabsorbent polymers, and ethylene oxide to encourage the utilization of biomass as feedstocks for disposable diapers, detergents, and other items. Aiming for carbon neutrality by 2050, the Nippon Shokubai Group will carry out the changes detailed in the Group’s long-term vision and mid-term management plan, thereby helping to enhance customer value and achieve a sustainable society.
Increasing demand for bio-based acrylic derivatives possesses the potential to change the market. As knowledge of environmental concerns grows, both consumers and industries are looking for sustainable substitutes for petroleum-based products. Bio-based acrylic derivatives, originating from renewable resources, provide an eco-friendly choice, diminishing dependence on fossil fuels and decreasing carbon footprints. There is a significant change in consumer preferences towards items that are viewed as environmentally friendly. Companies that provide bio-based acrylic derivatives can capitalize on this trend to boost their market attractiveness, draw in eco-aware consumers, and set themselves apart from their rivals.
Advancements in biotechnology and chemical methods are allowing for more efficient manufacturing of bio-based acrylics. Developments like fermentation techniques utilizing biomass feedstocks are making it possible to sustainably create high-quality acrylic derivatives, thereby expanding the supply base. For instance, in February 2024, Arkema, a leader in specialty materials, is currently manufacturing ethyl acrylate solely from bioethanol, at its acrylic monomer plant in Carling, France. Arkema’s bio-based ethyl acrylate provides biocarbon content (BCC) of 40% along with a reduction in product carbon footprint (PCF) of as much as 30%. Bioethanol is derived sustainably from biomass feedstock.
Obtaining certifications for different products is vital in improving market prospects and competitiveness. For instance, in February 2023, Nippon Shokubai Co., Ltd obtained ISCC PLUS certification for multiple products, such as acrylic acid, superabsorbent polymers, and ethylene oxide to encourage the utilization of biomass as feedstocks for disposable diapers, detergents, and other items. Aiming for carbon neutrality by 2050, the Nippon Shokubai Group will carry out the changes detailed in the Group’s long-term vision and mid-term management plan, thereby helping to enhance customer value and achieve a sustainable society.
Increasing demand for bio-based acrylic derivatives possesses the potential to change the market. As knowledge of environmental concerns grows, both consumers and industries are looking for sustainable substitutes for petroleum-based products. Bio-based acrylic derivatives, originating from renewable resources, provide an eco-friendly choice, diminishing dependence on fossil fuels and decreasing carbon footprints. There is a significant change in consumer preferences towards items that are viewed as environmentally friendly. Companies that provide bio-based acrylic derivatives can capitalize on this trend to boost their market attractiveness, draw in eco-aware consumers, and set themselves apart from their rivals.
Advancements in biotechnology and chemical methods are allowing for more efficient manufacturing of bio-based acrylics. Developments like fermentation techniques utilizing biomass feedstocks are making it possible to sustainably create high-quality acrylic derivatives, thereby expanding the supply base. For instance, in February 2024, Arkema, a leader in specialty materials, is currently manufacturing ethyl acrylate solely from bioethanol, at its acrylic monomer plant in Carling, France. Arkema’s bio-based ethyl acrylate provides biocarbon content (BCC) of 40% along with a reduction in product carbon footprint (PCF) of as much as 30%. Bioethanol is derived sustainably from biomass feedstock.
Recent Trends in Acrylic Acid Market
- Growing demand for superabsorbent polymers in personal hygiene products
- Advances in production technologies, including improved methods for synthesizing acrylic acid and its derivatives
- Increasing focus on sustainability is driving the development of eco-friendly acrylic products
- Rising demand for UV-curable coatings due to their quick drying times and environmental benefits
- Growing applications in water treatment as effective flocculants and coagulants
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Volatile Raw Material Prices as well as Environmental and Health Concerns Pose Threat to the Market
Fluctuating raw material prices present a major risk to the acrylic acid market, influencing production expenses, pricing approaches, and overall market consistency. Acrylic acid manufacturing is significantly dependent on propylene, which is a byproduct of crude oil. The costs of these essential materials are prone to fluctuations owing to variations in crude oil prices, which can vary greatly in response to geopolitical situations, supply-demand interactions, and economic circumstances. When crude oil prices experience a significant increase, it results in higher input expenses for manufacturers, consequently lowering profit margins. On the other hand, a rapid decline in crude oil prices can also adversely affect sales prices, creating difficulties for companies in sustaining profitability.
Environmental and health issues present considerable risks to the acrylic acid industry, affecting manufacturing methods, adherence to regulations, and acceptance in the market. Acrylic acid is acknowledged as a potent irritant to the skin, eyes, and respiratory system. Breathing in the substance may result in immediate effects such as nasal irritation, lung bleeding, and overall harm to organs including the liver and kidneys. Research has indicated that even minimal concentrations can provoke considerable irritation and health hazards, which could result in possible liability concerns for producers.
Acrylic acid presents dangers to aquatic ecosystems, mainly because of its harmful effects on algae and possible impacts on various other aquatic life forms. Significant levels may result in regional ecological harm if not controlled appropriately. Regulatory agencies are placing greater emphasis on reducing chemical discharges into water bodies, which could limit production methods or necessitate expensive remediation approaches.
Environmental and health issues present considerable risks to the acrylic acid industry, affecting manufacturing methods, adherence to regulations, and acceptance in the market. Acrylic acid is acknowledged as a potent irritant to the skin, eyes, and respiratory system. Breathing in the substance may result in immediate effects such as nasal irritation, lung bleeding, and overall harm to organs including the liver and kidneys. Research has indicated that even minimal concentrations can provoke considerable irritation and health hazards, which could result in possible liability concerns for producers.
Acrylic acid presents dangers to aquatic ecosystems, mainly because of its harmful effects on algae and possible impacts on various other aquatic life forms. Significant levels may result in regional ecological harm if not controlled appropriately. Regulatory agencies are placing greater emphasis on reducing chemical discharges into water bodies, which could limit production methods or necessitate expensive remediation approaches.
Strategic Partnerships and Collaborations Expanding the Acrylic Acid Market
Collaborations enable businesses to merge knowledge and assets, resulting in the creation of groundbreaking products. For instance, in September 2024, Bluestem Biosciences announced a partnership with bitBiome to develop enhanced enzymes for Bluestem’s innovative biochemical route for the commercial biomanufacturing of acrylic acid. The partnership between bitBiome’s enzyme discovery and Bluestem’s yeast technology led to the introduction of a new enzyme that will expedite the commercial manufacturing of biochemicals for consumer and industrial products. This discovery of the enzyme will be followed by strategies to swiftly enhance enzyme efficiency to promote the advancement of Bluestem’s eco-friendly and economically viable bio-production method.
The procurement of technology by firms in the acrylic acid sector can greatly improve their competitive advantage and aid in the overall expansion of the market. For instance, in October 2023, Lummus Technology, an international supplier of process technologies and value-oriented energy solutions, disclosed that it has finalized a deal with Air Liquide Engineering and Construction to obtain rights to license and promote ester-grade acrylic acid technology as well as light and heavy acrylates process technology. This acquisition enhances Lummus’ offerings for propylene production and its related products, providing clients with additional choices between upstream and downstream processes.
The procurement of technology by firms in the acrylic acid sector can greatly improve their competitive advantage and aid in the overall expansion of the market. For instance, in October 2023, Lummus Technology, an international supplier of process technologies and value-oriented energy solutions, disclosed that it has finalized a deal with Air Liquide Engineering and Construction to obtain rights to license and promote ester-grade acrylic acid technology as well as light and heavy acrylates process technology. This acquisition enhances Lummus’ offerings for propylene production and its related products, providing clients with additional choices between upstream and downstream processes.
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Asia Pacific Dominating the Acrylic Acid Market with Substantial Share
The acrylic acid market is strongly led by the Asia-Pacific region owing to various crucial factors. The area is marked by considerable usage from nations such as China, India, and Japan. China by itself makes up over half of the overall acrylic acid usage in Asia-Pacific, fueled by its strong industrial foundation and the need for multiple applications including paints, coatings, and adhesives. The continuous industrial development and urban growth in Asia-Pacific nations are resulting in greater investments in building and infrastructure. This expansion results in a heightened need for acrylic acid in construction materials, coatings, and adhesives. There is an increasing movement towards sustainability in the area, as manufacturers are progressively emphasizing bio-based acrylics and environmentally friendly production techniques. This transition corresponds with worldwide sustainability objectives and boosts market appeal.
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The report provides a detailed overview of the acrylic acid market insights in regions including North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The country-specific assessment for the acrylic acid market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the acrylic acid market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which is anticipated to have a substantial impact on the growth of the acrylic acid market. Some key countries and regions included in the acrylic acid market report are as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Austria, Sweden, Norway, Denmark, Finland, Ireland, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Vietnam, Thailand, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Morocco, Algeria, Israel, Iran, Kenya, Turkey, Rest of MEA |
Acrylic Acid Market Research Report Covers In-depth Analysis on:
- Acrylic acid market detailed segments and segment-wise market breakdown
- Acrylic acid market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in acrylic acid market industry)
- Current, historical, and forthcoming 10 years market valuation in terms of acrylic acid market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Acrylic acid market demand analysis
- Acrylic acid market pricing analysis over the forecast period (by key segment and by region)
- Acrylic acid market regional insights with the region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the acrylic acid market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in acrylic acid market
- Acrylic acid market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on the acrylic acid market forecast by countries
- Mergers and acquisitions in the acrylic acid market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key factors driving the Acrylic Acid market growth?
The growth of the Acrylic Acid market is driven by the increasing demand for acrylic-based products in industries like construction, automotive, and consumer goods, alongside advancements in production technologies.
Who are the major players in the Acrylic Acid market?
Major players in the Acrylic Acid market include global chemical manufacturers, suppliers, and producers who lead in the production of acrylic acid and its derivatives for use across various industries.
What is the outlook for the Acrylic Acid market in the next decade?
The Acrylic Acid market is expected to experience steady growth, driven by increasing demand for sustainable and high-performance products, as well as innovations in production processes and new applications in emerging industries.
