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The report on Acrylic Acid Market that has been recently added by Kenneth Research, offers a complete evaluation of the market and its growth prospects along with new business opportunities in the industry. Additionally, the report contains the market size and annual growth rate for a period of 8 years, i.e. forecast period between 2022 and 2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions 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 industries, creating a huge demand for Acrylic Acid Market Products.
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According to the statistics by the Invest India, the market value of chemicals industry in India was estimated to be USD 178 billion during the period 2018-2019. Additionally, the data also stated that the demand for petrochemicals in the country is observing a steady growth and is further estimated to grow at a CAGR of 7.5% during 2019-2023. On the other hand, the market for agrochemicals is expected to register a CAGR of 8% during the same period and further attain a market value of USD 4.7 billion by the end of 2025.
Acrylic acid is a pungent odourless liquid mainly used as a raw material for production of acrylic resins, acrylates and absorbent polymers. Application of Acrylic acid includes use in dispersants, flocculants, thickening agents and adhesives.
End-User
Acrylic acids can be raw materials to a lot of finished products thus it has many End-user industries. It is used as a raw material in surfactant, organic chemicals and sealant industry. Its application as dispersant makes it useful in textiles and water treatment industry. It is mainly used in personal care products and adhesive industry because of its thickening and adhesive properties.
Market Dynamics
Personal care products has been found to be the largest end user industry with a 30% market share of the total market volume. Increasing demand for adult, incontinence products due to aging population in European and Asia-Pacific markets like Japan has been the driving factor for growth of Acrylic acid in personal care products. Rising population of baby boomers in US will also drive the growth of the global acrylic acid market. Surfactant and surface coatings industry is expected to witness significant growth during the forecast period which can be an opportunity for the Global acrylic acid market to grow.
Increasing demand for acrylic adhesives in high end applications that requires high shear and tensile strength as well as shock absorbent properties will be driving the growth of demand of acrylic acids in the forecast period. However, highly volatile pricing of raw material and increasing environmental regulations will be the restraining factors for the growth of acrylic acid market. As a result the manufacturers will shift their interest towards developing of bio based acrylic acid which in long run will provide new growth opportunities for acrylic acid manufacturers.
Market Segmentation
The Global acrylic acid market can be segmented on basis of product such as acrylate esters, glacial acrylic acid and others. Acrylate esters account for over 51% of the total acrylic acid consumed. Acrylate esters are mainly used in surface coatings followed by adhesives, sealants, plastic additives and textiles. However, acrylate esters are going to lose market share to glacial acrylic acid and other derivatives in the forecast period. Glacial acrylic acid currently in second spot is mainly used in manufacturing super absorbent polymers and poly acrylic acid whereas the other key derivatives comprises of ammonium poly acrylate and cyano-poly acrylate.
Geographic Analysis
Geographically, the Acrylic Acid Market can be segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Asia-Pacific lead the market with a whooping share of 48%. Low manufacturing cost associated with manufacturing of Superabsorbent polymer (SAP) is one of the crucial factor for the huge market share in Asia-Pacific North America and Europe are mature markets and are shifting focus towards bio based acrylic acid.
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Key Players
Major companies that are present in the market are Arkema, BASF SE, Evonik Industries, Nippon Shokubai Co. Ltd., The Dow Chemical Company, LG Chem Ltd., Hexion Inc., Mitsubishi Chemical Holdings Corporation, PJSC Sibur Holding.
Report ContentsRegional AnalysisReport Highlights
Global Market segments
Global Market Drivers, Restraints and Opportunities
Global Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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About Kenneth Research:
Kenneth Research is a multi-client market research database that aims at providing reports that help industry professionals including various individuals and organizations to identify the market trends and scope, thereby making it easier for them to take decisions and form strategies after complete assessment of the market. The various industries catered by the company include healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence and several others. Being a global market research reselling firm, Kenneth Research provides strategic business consultancy services at a global level and offers a single platform for the best market research reports.
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