Acrylic Acid Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends And Forecasts

Acrylic acid, an organic compound is a colorless liquid and is a simple carboxylic acid. It has a characteristic acrid odor and corrosive properties that cause irritation of skin and eyes on direct exposure. Acrylic acid has a wide range of application such as fibers and textiles, paint and coating, synthetic rubber , adhesives ,detergents, plastics, resins, super absorbent polymers, personal and hygiene care, clothing, construction equipments, flocculants Industry etc. In addition it is used across various industrial processes. The acrylic derivative market with its wide range of applications in industrial processing is segmented into acrylic polymers, acrylic ester etc. Acrylic esters are the largest used and profitable derivatives, owing to its wide variety of applications and healthy commercialization. They include ethyl acrylate, methyl acrylate, 2-ethylhexyl acrylate, butyl acrylate, etc. Its usage includes manufacturing of super absorbent polymers and production of polyacrylic acid. Acrylic acid and its derivatives are acquired form propylene wherein propylene and oxides of arsenic, molybdenum and niobium are the key materials utilized. Propylene is mainly obtained from distillation of crude oil and this process is usually carried out in refineries. In recent times, the global acrylic market has been witnessing a rapid growth due to an increase in demand for super absorbent polymers (SAP). These super absorbent polymers are formed by polymerization of acrylic acid. SAP has a range of applications in healthcare and hygiene segment which includes products such as sanitary napkins, diapers etc. and serves as a market driver in developing economies. Factors such as improved economic growth increase in populations, better standard of living, increase in consumer purchase power has propelled the market growth. Acrylic adhesives have a wide range of applications that require high tensile strength and shock absorbing features which has spurred the market growth for this product. Propylene being the key raw material utilized in manufacturing of acrylic acid and any volatility in price significantly affects the profit for acrylic acid manufacturers and thus makes the price fluctuation a key challenge to the market growth. In addition, owing to increase in price of crude oil and supply constraints the price for propylene is expected to reach a new high. Moreover, strict regulations in North America and Europe will affect the market growth considerably. Presently, acrylic derivatives have been witnessing increased production of bio based acrylic acid from sugar feedstock. The key participants in this market include BASF (Germany), Dow Chemical Company (U.S.), Arkema (France), etc. The link can be used for further reference in relation to Acrylic Acid market.