(MENAFN- EIN Presswire) Glacial Acrylic Acid Market
Glacial Acrylic Acid Seg Market
Rising demand for glacial acrylic acid from the plastics industry throughout the projection period
Glacial Acrylic Acid Market t is estimated to reach over USD 3227.84 million by 2031, exhibiting a CAGR of 3.09% during the forecast period.” - Insightace AnalyticNEW JERSEY, SATTE NJ, USA, March 6, 2023 /einpresswire.com / -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the 'Global glacial acrylic acid market Size, Share & Trends Analysis Report By Application (Nappies, Adult And Feminine Hygiene, Detergents, Adhesives, Coatings And Sealants, Water Treatment And Others) - Market Outlook And Industry Analysis 2031'
A carboxyl group acid called glacial acrylic acid (GAA) is used to make polymeric and methacrylate esters and as a starting material for chemical processing. Acrylic acid is a flexible polymer that can be crosslinked into intricate molecular configurations. Acrylic acid is created by oxidizing propane and using a lactic acid-based bioprocess. The treatment of effluent before it is discharged into the ocean and sea is required by state regulations, which forces companies to produce more biopolymers, indirectly improving the acrylic acid market. Because acrylic acid is used to treat/recycle wastewater, increasing urbanization and the government's increased emphasis on water cleansing are projected to drive the acrylic acid market.
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Additionally, there is a rising demand for glacial acrylic acid from the plastics industry throughout the projection period as a result of AEM's increased qualities, such as robustness and resistance, among others. Furthermore, due to government restrictions, businesses are required to treat the effluent before discharging it into the oceans and oceans, which raises demand for gel electrophoresis and, in turn, positively affects the glacial acrylic acid market indirectly.
The market is anticipated that increasing the use of glacial acrylic acid in substitution of PVA and vinyl acetate would result in lucrative market prospects. Further, expanding desire for water treatment applications is anticipated to boost market expansion. The market for glacial acrylic acid has grown significantly during the analysis due to the surge in consumption of methacrylate-based polymers used to manufacture lighting fixtures, glass, vehicle rear lights, and electronic displays.
List of Prominent Players in the Glacial Acrylic Acid Market:
.Arkema
.BASF SE
.Dow Inc
.Evonik Industries
.Exxon Mobil Corporation
.Formosa Plastics Corporation
.Hexion Inc.
.LG Chem
.Mitsubishi Chemical Holdings Corporation
.Myriant Corporation
.Nippon Shokubai Co Ltd
.Novomer Inc
.PJSC Sibur Holding
.Sanmu Group
.Shandong Kaitai Petrochemical Co., Ltd.
.Shanghai Huayi Acrylic Acid Co. Ltd
.Shell Chemicals
.SHOKUBAI CO. LTD
.SIBUR
.Taixing Jurong Chemical Co Ltd
.The Lubrizol Corporation
Market Dynamics:
Drivers-
The rise in the manufacturing of protective coating, emulsifiers, adhesives & sealants, and the comprehensive use of GAA as a chemical feedstock, along with an increase in the implementation of glacial acrylic acid in the personal care industry due to its microencapsulated properties, are factors that are propelling the growth of the global glacial acrylic acid market. During the projected period, the market is anticipated to be driven by a rise in the demand for GAA in the personal care sector because of its superabsorbent qualities. The market is also anticipated to benefit from an increase in the manufacturing of adhesives & sealants, surface coatings, and surfactants in various emerging nations.
Challenges:
The market expansion for glacial acrylic acid is anticipated to be constrained by diminishing petroleum reserves, fluctuating propylene costs, and availability of materials. Propylene price volatility and poor acceptance and knowledge of GAA in developing nations are predicted to restrain the market during the forecast period. Due to the permanent dimer production, GAA should only be stored temporarily. The cost of this storage temperature is high. Thus, the market may be hampered by the high expense of GAA storage and preservation. Due to GAA's toxicological properties and the growing global environmental concerns, strict regulatory procedures have been implemented regarding its use. In the near future, this is anticipated to have a negative effect on the market.
Regional Trends:
The North American glacial acrylic acid market is expected to register a major market share. The primary reasons supporting the revenue growth of the glacial acrylic acid market in the area are the increasing employment of glacial acrylic acid for domestic demand of the polymers, paints, and coating industries. Additionally, the growing use of glacial acrylic acid in vehicular emulsion coatings contributes to regional revenue development. Besides, Asia Pacific had a substantial share of the market. The market is anticipated to grow shortly as consumption for GAA increases across several end-user sectors, including chemical, water treatment, dishwashing, and personal services & hygiene. China is currently the world's second-largest personal grooming and hygiene goods market. It is anticipated that it will soon surpass all others in size. Accordingly, it is predicted that the GAA will benefit financially from the hygiene products and cleanliness market expansion during the forecast period.
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Recent Developments:
.In April 2022-Wanhua said it would invest USD 3.6 billion in constructing a chemical plant in China by 2024. Additionally, this complex will produce polyether polyols, acrylic acid, polypropylene, and propylene oxide.
.In August 2021, BASF SE and SINOPEC decided to expand the Verbund site in Nanjing, China, which is run by BASF-YPC Co. Ltd, a 50/50 joint venture between the two businesses. It also includes the capacity development of various downstream chemical units to accommodate the expanding Chinese market, including a new tert-Butyl acrylate factory.
Segmentation of Glacial Acrylic Acid Market-
By Application
.Nappies
.Adult and Feminine Hygiene
.Detergents
.Adhesives, Coatings and Sealants
.Water Treatment
.Others
By Region-
North America-
.The US
.Canada
.Mexico
Europe-
.Germany
.The UK
.France
.Italy
.Spain
.Rest of Europe
Asia-Pacific-
.China
.Japan
.India
.South Korea
.Southeast Asia
.Rest of Asia Pacific
Latin America-
.Brazil
.Argentina
.Rest of Latin America
Middle East & Africa-
.GCC Countries
.South Africa
.Rest of Middle East and Africa
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