Kenneth Research recently added a report on the Global Acrylic Acid Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that Europe is the second-largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical/Energy industries, creating a huge demand for Global Acrylic Acid Market products.
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It is also anticipated to grow on account of the growing demand for chemicals from the end users, backed by the increasing consumption of chemicals across different industries and the rising need for advanced chemicals. In India, the production of major chemicals and petrochemicals during the period 2020-2021 was close to 12000 thousand MT. Additionally, between the period 2015-16 and 2019-20, the production of the chemicals and petrochemicals in the nation grew at a CAGR of close to 6%.
Global Acrylic Acid Market is valued approximately USD 11.96 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.10% over the forecast period 2019-2026. Acrylic Acid is an organic compound which is the simplest unsaturated carboxylic acid. It is a colorless liquid which has an acrid or tart smell. Acrylic Acid is used for numerous applications such as surface coatings, adhesives, paper treatment, textiles, baby diapers, super absorbent polymers, feminine hygiene products and detergents. Increasing demand of Acrylic Acid in emerging markets such as India and China are expected to fuel the market growth. Moreover, growing applications of superabsorbent polymers is responsible for high CAGR of the market over the forecast period. For instance: In December 2017, LG Chem Ltd announced that the company will invest UDS 278.32 million on expanding its acrylic acid and superabsorbent polymer production capacity by the first half of 2019. Moreover, commercial production of bio-based acrylic acid, transition from vinyl acetate and PVA to acrylic emulsions and rise in usage of SAP in the developing economics is expected to create lucrative growth opportunity to the market in the upcoming years. However, health hazards, environmental concerns few factors anticipated to hindering the growth of global Acrylic Acid market during the forecast period.
The regional analysis of global Acrylic Acid Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as the rising demand for acrylic acid in emerging markets and rising requirements of surface coatings and diaper application segments would create lucrative growth opportunities for the Acrylic Acid market across the region.
Major market player included in this report are:
BASF SE
Arkema SA
Nippon Shokubai Co. Ltd.
Evonik Industries
The DOW Chemical Company
LG Chem Ltd.
Mitsubishi Chemical Holdings Corp.
PJSC Sibur Holding
Sasol Ltd.
Hexion Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Derivative:
Acrylic Acid Derivatives
Other Derivatives
By Application:
Acrylic Esters
Acrylic Polymers and Other Derivatives
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2022 to 2031
Target Audience of the Global Acrylic Acid Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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