The Global Glacial Acrylic Acid Market Size is valued at 2484.41 million in 2022 and is predicted to reach 3227.84 million by the year 2031 at an 3.09% CAGR during the forecast period for 2023-2031.
Glacial acrylic acid (GAA) is a crystalline, odorless liquid with a strong smell. It reacts quickly. CH2=CHCO2H is the chemical formula for it. Propene is oxidized catalytically to generate GAA. Creating infant diapers, feminine grooming, and personal care products primarily uses superabsorbent polymers.
The GAA market is therefore growing as a result of the increase in consumption of polypropylene fibers in hygiene products and personal care products. Several factors are driving the expansion of the global glacial acrylic acid market, including a rise in the production of protective coatings, gelling agents, adhesives & sealants, and extensive usage of GAA as a chemical feedstock. This is due to GAA's ability to waste.
Additionally, the dwindling petroleum reserves, fluctuating propylene prices, and the availability of materials are expected to restrain the market. The market is expected to be constrained during the forecast period by the fluctuation of propylene prices and the low level of awareness and acceptability of GAA in emerging countries.
Furthermore, it is estimated that the growing SAP presence in niche markets, including adult incontinence, water treatment additives, and radiation-treated coatings, would be crucial to the expansion of the acrylic acid market over the projected decade. Moreover, the market is also anticipated to benefit from an increase in the manufacturing of adhesives & sealants, surface coatings, and surfactants in various emerging nations.
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.
Competitive Landscape:
Major key players in the glacial acrylic acid market are:
- 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 Segmentation:
The glacial acrylic acid market is segmented based on applications. Based on applications, the market is segmented as nappies, adult and feminine hygiene, detergents, adhesives, coatings and sealants, water treatment and others.
Based on applications, the nappies segment is a significant contributor to the glacial acrylic acid market.
The nappies category will hold a significant share of the global glacial acrylic acid market in 2021. Glacial acrylic acid is used in waterproof polymers in biodegradable newborn diapers. Sectionally, polyacrylates are polymeric polymers because they can hold 100 times more liquid than their weight. The usage of polyurethanes (pads, diapers, and hygiene products) is anticipated to increase due to increased hygiene awareness among all population groups, which could increase acrylic acid use throughout the expected period.
The North American glacial acrylic acid market holds a significant revenue share.
The North American glacial acrylic acid market is expected to register the highest market share in revenue shortly. The demand for adult urinary products is anticipated to rise as the senior population increases in the United States and Canada. This will probably lead to an increase in GAA production shortly. A large newborn population and rising disposable income, which result in more spending on hygiene and cleanliness care, are blamed for the country's need for personal hygiene goods. As a result, the acrylic acid market is projected to grow over the projection period. In addition, Asia Pacific is projected to proliferate in the global glacial acrylic acid market. The growing demand for baby diapers in developing nations like South Korea and China has boosted the need for superabsorbent polymers (SAPs). Glacial acrylic acid is also widely utilized in various sectors, such as textile chemicals, sealants, coatings, masonry, water treatment, detergents, leatherette solutions, and adhesives.
Glacial Acrylic Acid Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 2484.41 million |
|
Revenue forecast in 2031 |
USD 3227.84 million |
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Growth rate CAGR |
CAGR of 3.09% from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume in Kiloton and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
Application |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
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 |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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