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Polyacrylic Acid market Business Scenario
Growth in sectors such as manufacturing and construction has driven demand for polyacrylic acid.
WILMINGTON, DE, UNITED STATES, September 16, 2024 /EINPresswire / -- Allied Market Research has published a report titled "Polyacrylic Acid Market by Type (Synthetic and Bio-Based), Application (Thickeners, Dispersant, Scale Inhibitor, Emulsifiers, Binders, and Others), and End-use
industry (Construction, Paints & Coatings, Pulp & Paper, Adhesives & Sealants, Water Treatment, Pharmaceuticals, Cosmetics, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." The report reveals that the global polyacrylic acid market was valued at $4.0 billion in 2022 and is projected to grow to $6.7 billion by 2032, with a compound annual growth rate (CAGR) of 5.4% from 2023 to 2032.
Key Growth Drivers:
- Industrial Expansion: Growth in sectors such as manufacturing and construction has driven demand for polyacrylic acid.
- Infrastructure Development: Increased construction activities have further supported market expansion.
However, fluctuating raw material prices pose a challenge to market growth, while the rise in sustainable practices provides opportunities for further market development.
Market Breakdown:
Type: The synthetic polyacrylic acid segment dominated in 2022, driven by demand in water treatment and hygiene products like adult diapers. However, the bio-based segment is expected to experience the highest growth, with a CAGR of 5.9%, due to the demand for eco-friendly alternatives.
Application: The scale inhibitor segment held the largest market share in 2022, fueled by industrialization and infrastructure projects. Meanwhile, the thickeners segment is expected to grow at the fastest rate, with a CAGR of 6.2%, driven by the booming cosmetics industry.
End-use Industry: Water treatment led the market in 2022, thanks to increasing urbanization, industrialization, and environmental regulations. The cosmetics sector, however, is anticipated to record the highest growth rate, with a CAGR of 6.8% over the forecast period.
Regional Insights:
The Asia-Pacific region, led by countries such as China, Japan, South Korea, and India, dominated the market, accounting for more than half of the global market share in 2022. This region is set to maintain its dominance due to its large-scale industrial activities, technological advancements, and environmental focus.
Leading Players:
Key market players include Acuro Organics Limited, Evonik Industries AG, Sumitomo Seika Chemicals, Dow, Nippon Shokubai Co. Ltd, Lubrizol Corporation, BASF SE, Arkema, and others. These companies are adopting strategies such as product launches, collaborations, and expansion to strengthen their market position.
Obtain Report Details:
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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