-- The global acrylic acid market was valued at USD 9.50 billion in 2014 and is projected to grow at a CAGR of 6.8 percent from 2015 to 2022 to reach USD 15.43 billion by 2022. The global acrylic acid market was 5.00 million tons in volume in 2014 and is projected to grow to 7.10 million tons by 2022 at a CAGR of 5.0 percent between 2015 and 2022.
Asia Pacific is the acrylic acid market's largest and fastest growing market. It accounts for more than 40 percent of the market pie in terms of revenue as well as volume in 2014. China is one of Asia Pacific's major markets. It is not only one of the biggest consumers, but also a producer. Strong baby diaper demand supported by rising living standards is one of the major drivers of market growth. On the other hand, the adult diaper sector is the main driver in developed countries like Western Europe, the United States and Japan. Global acrylic acid market demand will be focused in Asia, mainly in China and North East Asia.
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North America and Europe followed Asia Pacific in 2014. The U.S. is the largest market in terms of volume and revenue in North America. Rapid growth of the SAP market in North America and Europe is projected to trigger demand for acrylic acid. As a result, manufacturers are expected to shift their focus to the development of bio-based acrylic acid, which is expected to open up new growth opportunities for the acrylic acid market. Propylene supply (the main feedstock for petroleum-based acrylic acid) is currently very tight. Acrylic acid capacity in western markets is also constrained as over the past few years there has been no single new capacity added in this region.
Surface coatings are one of the most important acrylic acid applications. The commodity acrylates are given by acrylic acid when reacted with alcohols such as methanol, ethanol, and oxo alcohols such as n-butanol and2-ethylhexanol. These commodity acrylates are widely used in waterborne coatings in the paints and coatings industry. As governments restrict the use of VOCs, solvent-based coatings are being replaced by water-borne coatings that drive the demand growth of acrylic esters. SAP is another major application of acrylic acid used in the manufacture of diapers and female sanitary pads that are in great demand in Asia-Pacific emerging markets. Increasing lifespan and declining birth rates have resulted in an increase in the global aging population in some regions. This would increase adult diaper demand, leading to increased demand for SAP, mainly in mature economies such as North America, Western Europe, and Asia-Pacific (Japan).
Demand for acrylic acid from mature regions such as Western Europe and North America will be limited by weak domestic consumption. On the other hand developing economies such as Latin America, Middle East, Eastern Europe, and South East Asia will provide strong growth from a small base. Bayer AG, BASF SE, Evonik Industries AG, The Dow Chemical Co, Arkema, Nippon Shokubai Co. Ltd, LG Chem Ltd, and Wanhua Chemical Group among others are some of the major players of this market.
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ToC:
Chapter 1 Preface
............
Chapter 2 Executive Summary
............
Chapter 3 Introduction
.............
Chapter 4 Global Acrylic Acid Market, Application Analysis
4.1 Global acrylic Acid Market, by application type
4.2 Acrylates
4.3 Superabsorbent Polymers (SAP’s)
4.4 Others
Chapter 5 Global Acrylic Acid Market, Regional Analysis
5.1 Global Acrylic Acid Market, regional analysis, (2014 & 2022)
5.2 North America
5.3 Europe
5.4 Asia Pacific
5.5 RoW
Chapter 6 Competitive Analysis
6.1 Arkema SA
6.2 BASF SE
6.3 The DOW Chemical Company
6.4 Evonik Industries
6.5 Galactic S.A
6.6 Mitsubishi Chemical Holdings Corp
6.7 Nippon Shokubai Co. Ltd
6.8 Sasol Ltd
6.9 The Lubrizol Corporation
6.10 SIBUR
.....................toc continue
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