Acrylic Acid Market By Product Type (Superabsorbent Polymers, Coatings, Adhesives & Sealants, and Others); By Application (Construction, Automotive, Consumer Goods, Industrial & Agricultural, and Others); By End User (Construction, Automotive, Consumer Goods, Industrial Applications); By Geography, Segment Revenue Estimation, Forecast, 2024–2030.

Introduction And Strategic Context

The Global Acrylic Acid Market is poised for steady growth, with a projected CAGR of 6.3% from 2024 to 2030 , reaching a market size of USD 20.9 billion by 2030 , up from an estimated USD 14.5 billion in 2024 , according to Strategic Market Research.

 

Acrylic acid, a key raw material used in the production of superabsorbent polymers, paints, coatings, adhesives, and textiles, is integral to a wide range of industries, from construction to personal care products. As an essential chemical compound, it is often manufactured through the oxidation of propylene or through bio-based processes. The increasing demand for acrylic acid in applications such as adhesives and paints, particularly in the automotive and construction sectors, is one of the key drivers of market growth.

 

Macro trends influencing the acrylic acid market include the global push for sustainable and bio-based materials, stricter environmental regulations, and innovations in manufacturing processes. As governments and companies move toward greener alternatives, bio-based acrylic acid production is gaining traction, supported by rising investments in research and development (R&D) for more efficient production techniques. Additionally, the rapid urbanization and the rise in disposable income across emerging economies are expected to further fuel the demand for consumer goods and infrastructure development, indirectly benefitting the acrylic acid market.

 

Stakeholders in this market include OEMs , chemical producers , end-use manufacturers , regulatory bodies , and investors . With increasing industrial demand across various regions, particularly in Asia-Pacific and North America , these stakeholders will play crucial roles in shaping the competitive dynamics and regulatory landscape.

 

In conclusion, acrylic acid holds substantial strategic relevance in multiple sectors, driven by consumer demand and environmental trends. While challenges such as volatile raw material prices and environmental concerns remain, the market's growth trajectory is supported by technological innovations and the push toward sustainability.

 

Market Segmentation And Forecast Scope

The acrylic acid market can be segmented based on various factors, including product type, application, end user, and geography. These dimensions offer a clear perspective on how the market is evolving and which areas are likely to experience the most significant growth.

By Product Type

The acrylic acid market is primarily segmented into two key product categories:

• Superabsorbent Polymers (SAPs) : This is the largest and most dominant segment. SAPs, primarily used in the production of diapers, adult incontinence products, and feminine hygiene products, represent over 40% of acrylic acid demand in 2024. The rise in global birth rates, along with increasing healthcare awareness, especially in emerging markets, will continue to drive SAP demand.

• Coatings & Paints : This segment, which includes the use of acrylic acid in water-based paints, is growing rapidly, driven by the rising demand for eco-friendly and low-VOC (volatile organic compound) paints in residential and commercial construction. Water-based coatings represent an increasing share due to their environmental benefits and compliance with stringent regulatory standards.

• Adhesives and Sealants : Acrylic acid's role in adhesives, especially for construction and automotive industries, is growing as infrastructure projects increase worldwide. The segment is expected to see a moderate but consistent increase over the forecast period.

 

By Application

The acrylic acid market serves multiple end-use applications:

• Superabsorbent Polymers (SAPs) : As mentioned, this remains the dominant segment. SAPs find their primary use in hygiene products, accounting for a substantial share of the overall acrylic acid market.

• Paints and Coatings : Acrylic acid is integral to the production of various paints and coatings, including those used in automotive and architectural finishes. The shift towards water-based coatings in response to environmental concerns is further driving this segment’s growth.

• Adhesives & Sealants : As demand for adhesives increases across construction and packaging industries, the application of acrylic acid in these materials continues to expand. The demand for eco-friendly adhesive solutions has particularly fueled this trend.

• Other Applications : These include uses in textiles, detergents, and water treatment chemicals, which continue to expand in both developed and developing regions.

 

By End User

• Construction and Automotive : The largest share of acrylic acid usage comes from the construction and automotive sectors, particularly for paints, coatings, adhesives, and sealants. The rising urbanization, infrastructure development, and increasing vehicle production are key factors supporting this demand.

• Consumer Goods and Personal Care : Acrylic acid is widely used in the production of detergents, personal care products, and textiles. The growing disposable income in emerging markets and increasing consumer awareness of personal care products drive demand in this segment.

• Industrial Applications : Acrylic acid also has significant uses in industrial applications like water treatment and agriculture. This sector's share is expected to grow due to industrial expansion in emerging economies.

 

By Region

• North America : North America holds a significant share of the acrylic acid market. The U.S. is a key contributor due to the presence of large manufacturing hubs and high demand for acrylic acid in paints, coatings, and adhesives. Sustainability regulations and increasing demand for eco-friendly solutions further boost the market here.

• Asia-Pacific : Asia-Pacific is expected to grow at the highest CAGR, driven by booming economies like China and India. This region is a major consumer of acrylic acid in SAPs, paints, and coatings, as urbanization and infrastructure development continue to rise.

• Europe : The European market is well-established, with a focus on sustainable and low-VOC products. Environmental regulations, coupled with the demand for higher-quality acrylic products, make Europe a key market for acrylic acid applications.

• Rest of the World (LAMEA) : Latin America, the Middle East, and Africa represent emerging markets for acrylic acid. Although smaller, these regions are experiencing growth due to expanding construction and automotive industries.

In terms of market dynamics, the SAP segment dominates, but the paint & coatings and adhesives segments are expected to experience the most rapid growth due to ongoing trends in sustainability and eco-friendly alternatives.

As a whole, the acrylic acid market shows a balanced growth trajectory, with significant investments flowing into the manufacturing and distribution channels to support global demand across various regions.

 

Market Trends And Innovation Landscape

The acrylic acid market is witnessing several key trends and innovations that are shaping the competitive dynamics and driving future growth. These trends are primarily influenced by technological advancements, regulatory shifts, and the evolving demands of end-users.

1. Sustainable and Bio-Based Acrylic Acid Production

A significant innovation in the acrylic acid market is the growing shift toward bio-based acrylic acid . As the world increasingly focuses on reducing carbon footprints, manufacturers are exploring renewable feedstocks and alternative production methods. Companies are investing in research to develop bio-based acrylic acid derived from natural sources like corn and sugarcane, which significantly reduces the environmental impact compared to traditional fossil-based processes.

This innovation is aligned with the global push for more sustainable chemicals in various industries, especially in paints, coatings, and textiles. Bio-based acrylic acid not only offers environmental benefits but also provides manufacturers with a way to meet stricter regulatory standards for sustainability.

As one expert in the chemical industry noted, “The bio-based acrylic acid market is poised for exponential growth, fueled by both consumer demand for green products and the regulatory pressures driving this change.”

 

2. Technological Advancements in Acrylic Acid Production

Recent advancements in manufacturing processes are improving the efficiency and cost-effectiveness of acrylic acid production. Newer catalytic technologies and more efficient production pathways are reducing the need for high energy inputs and lowering overall costs. Moreover, companies are developing advanced polymerization techniques that enhance the performance of acrylic acid in superabsorbent polymers and coatings.

Increased investment in automation within acrylic acid manufacturing plants is another growing trend. Automation improves consistency and yields while reducing labor costs. As companies strive to meet growing demand with tighter cost controls, these technological improvements are expected to play a critical role in maintaining a competitive edge.

 

3. Environmental Regulations and Green Chemistry

Tightening environmental regulations, particularly in Europe and North America , are pushing manufacturers to adopt more sustainable practices. These regulations are promoting the use of low-VOC (volatile organic compounds) paints and coatings, which heavily rely on acrylic acid for formulation. The increasing preference for eco-friendly solutions, such as water-based coatings and adhesives, has resulted in a substantial shift toward sustainable acrylic acid formulations .

Additionally, the use of acrylic acid in green chemistry initiatives—such as low-emission sealants, paints, and coatings—aligns with the trend of reducing harmful chemicals in everyday consumer products. As a result, major players in the acrylic acid market are investing heavily in environmentally friendly alternatives.

“The regulatory environment is a driving force, with companies keen on developing low-VOC and bio-based solutions to not only comply with regulations but also meet the rising consumer demand for sustainability,” said a market analyst.

 

4. Increasing Demand for Acrylic Acid in Emerging Markets

Emerging economies, particularly in Asia-Pacific , are seeing a surge in demand for acrylic acid due to rapid urbanization and infrastructure development. Countries like China and India are experiencing increased consumption of acrylic acid in superabsorbent polymers , coatings , and adhesives , driven by the expanding construction and automotive sectors.

The rise in disposable income and consumer demand for personal care products, detergents, and textiles in these regions further accelerates the adoption of acrylic acid. This trend is expected to continue, with Asia-Pacific becoming the fastest-growing region for the acrylic acid market through 2030.

 

5. Research and Development (R&D) in Acrylic Acid Applications

Ongoing R&D activities are a cornerstone of innovation in the acrylic acid market. Companies are investing in new formulations and exploring novel applications to extend the versatility of acrylic acid. For instance, acrylic acid-based adhesives are gaining popularity in packaging, automotive, and electronic applications due to their superior performance in bonding and environmental resistance.

Additionally, the use of acrylic acid in water treatment applications is being explored, as it helps in improving the efficiency of flocculation and coagulation processes. This development could open new revenue streams in the industrial sector, especially for water-intensive industries.

 

6. Mergers, Acquisitions, and Strategic Partnerships

In line with market consolidation trends, leading acrylic acid producers are focusing on strategic partnerships and acquisitions to expand their global footprint and strengthen R&D capabilities. Partnerships between chemical companies and biotechnology firms are becoming more common, especially in the bio-based acrylic acid segment, where technological innovation and cross-industry collaboration are key to advancing the market.

For example, BASF and DSM have been actively involved in joint ventures to develop bio-based acrylic acid production technologies. These partnerships are aimed at reducing production costs and improving market share by offering greener alternatives to traditional acrylic acid.

“Mergers and acquisitions will continue to shape the competitive landscape in the acrylic acid market, enabling companies to access cutting-edge technologies and expand into new regions,” one industry expert commented.

 

Competitive Intelligence And Benchmarking

The acrylic acid market is highly competitive, with a small number of leading global players dominating the production and supply chain. These companies are investing heavily in technological advancements, sustainability, and expanding their product portfolios to secure market share. Below, we analyze the strategies of some key players in the acrylic acid market.

1. BASF SE

• Strategy : BASF is a major player in the acrylic acid market with a strong focus on sustainability. The company is advancing its position through research into bio-based acrylic acid and has made significant investments in eco-friendly production technologies. Its strategy emphasizes integrating green chemistry into its operations, particularly with a view to meeting increasing global demand for low-emission and environmentally friendly products.

• Global Reach : BASF has a strong presence in North America, Europe, and Asia-Pacific. Its well-established infrastructure and local production facilities in these regions allow it to respond swiftly to customer needs while adhering to stringent regulatory standards.

• Product Differentiation : BASF's acrylic acid offerings cater to a wide range of industries, from coatings and adhesives to superabsorbent polymers. The company is particularly well-positioned in the eco-friendly segment, offering sustainable acrylic acid alternatives for customers seeking low-VOC and bio-based products.

 

2. Dow Inc.

• Strategy : Dow has developed an extensive product range in the acrylic acid market, focusing on high-performance and high-quality products for a variety of applications. The company is particularly invested in the development of superabsorbent polymers (SAPs) , which account for a significant portion of its acrylic acid sales. Dow's research also focuses on improving the efficiency of its manufacturing processes to reduce costs.

• Global Reach : Dow operates on a global scale, with production facilities in North America, Europe, and Asia-Pacific. Its extensive supply chain and distribution network are vital for maintaining its market leadership, particularly in regions where demand for acrylic acid is growing rapidly.

• Product Differentiation : Dow's major strength lies in its ability to produce specialized acrylic acid for the SAP market, which is dominated by hygiene product manufacturers. Dow's ability to cater to niche markets, such as those requiring high-performance adhesive and coating applications, sets it apart from its competitors.

 

3. Mitsubishi Chemical Corporation

• Strategy : Mitsubishi Chemical is leveraging innovation in bio-based acrylic acid to position itself as a leader in sustainable production. The company is focusing on partnerships and collaborations to advance its bio-based acrylic acid production technology, aiming to provide environmentally conscious alternatives to its customers in industries like personal care, automotive, and construction.

• Global Reach : Mitsubishi Chemical has a strong presence in the Asia-Pacific region, particularly in Japan and China, and is expanding its market share in North America and Europe. The company’s focus on local production facilities in key markets helps it respond effectively to regional demand fluctuations.

• Product Differentiation : Mitsubishi Chemical differentiates itself through its bio-based offerings and specialized acrylic acid products designed for high-end applications, such as coatings, adhesives, and paints. Their focus on sustainability allows them to tap into the growing green chemistry movement.

 

4. Arkema S.A.

• Strategy : Arkema has been expanding its acrylic acid production capacities through strategic acquisitions and expanding its portfolio to include bio-based solutions. The company is committed to developing new applications for acrylic acid, particularly in coatings, adhesives, and construction materials, while enhancing its manufacturing processes for cost efficiency.

• Global Reach : Arkema has a solid presence in Europe, Asia, and North America. Its investments in new production plants and supply chain management systems ensure its leadership position in the global acrylic acid market.

• Product Differentiation : Arkema's competitive advantage lies in its high-quality acrylic acid products, which are used in specialized industries like adhesives, paints, and coatings. The company is investing in both expanding its product line and enhancing the sustainability of its production methods.

 

5. LG Chem Ltd.

• Strategy : LG Chem is one of the leading players in the global acrylic acid market. The company is investing heavily in innovative production processes and bio-based acrylic acid technologies . LG Chem is expanding its presence in emerging markets and is committed to increasing its production capacities to meet the growing demand in Asia-Pacific and beyond.

• Global Reach : LG Chem has a robust manufacturing presence in Asia-Pacific, particularly in South Korea, and is increasingly penetrating North American and European markets. Its extensive distribution channels in these regions enable it to cater to diverse customer needs.

• Product Differentiation : LG Chem stands out with its strong focus on superabsorbent polymers and its ability to provide high-quality acrylic acid for diverse applications, particularly in the hygiene, automotive, and construction industries. The company also emphasizes eco-friendly acrylic acid solutions that cater to the growing demand for sustainable products.

 

Competitive Dynamics and Key Trends

The acrylic acid market is characterized by intense competition among a few dominant players, with new entrants focusing on sustainability, technological advancements, and meeting specific market demands. As the demand for bio-based products continues to rise, leading manufacturers are increasingly investing in bio-based acrylic acid production to meet environmental and regulatory standards.

The strategic focus of major players is on expanding their product portfolios, enhancing R&D capabilities, and exploring new application areas for acrylic acid. Companies are also looking at global partnerships and acquisitions to bolster their production capabilities and extend their regional reach, particularly in emerging economies like Asia-Pacific .

Key trends in the competitive landscape include:

• R&D investments in sustainable production technologies .

• Strategic acquisitions to bolster market share and technology.

• Bio-based and eco-friendly acrylic acid solutions to meet increasing regulatory and environmental demands.

• Focus on superabsorbent polymers and high-performance coatings to capture specific market segments.

The competitive landscape will continue to evolve as companies strive to meet the growing demand for sustainable , bio-based , and high-performance acrylic acid products.

 

Regional Landscape And Adoption Outlook

The acrylic acid market is experiencing varied adoption across different regions, with growth trajectories shaped by factors such as industrial development, urbanization, sustainability regulations, and economic growth. Each region's market dynamics are influenced by distinct local trends and drivers.

North America

Market Dynamics : North America holds a significant share of the global acrylic acid market, driven by the strong demand for superabsorbent polymers (SAPs) in hygiene products and the increasing adoption of eco-friendly paints and coatings. The United States, in particular, is a key contributor to the region's acrylic acid consumption, largely due to its booming construction, automotive, and consumer goods industries.

Growth Drivers :

• Sustainability regulations : North America is witnessing a shift towards sustainable acrylic acid products, driven by stringent environmental regulations, especially in the construction and coatings sectors. This trend is expected to propel the demand for bio-based and low-VOC acrylic acid products.

• Technological advancements : Investments in advanced manufacturing technologies, particularly for eco-friendly acrylic acid production, are also fueling market growth. Automation and improvements in production processes are helping to lower costs and improve supply chain efficiencies.

Outlook : North America is expected to maintain a dominant position in the market, though its growth rate will moderate as competition intensifies from emerging regions. The ongoing push for greener alternatives will continue to drive innovation, particularly in bio-based acrylic acid production.

 

Europe

Market Dynamics : Europe is another major market for acrylic acid, characterized by strong demand for high-performance coatings, adhesives, and superabsorbent polymers. The European Union (EU) is known for its stringent regulatory framework, particularly concerning the environmental impact of chemical products. This has accelerated the adoption of low-emission and bio-based acrylic acid.

Growth Drivers :

• Regulatory environment : Europe's regulatory focus on sustainability and reducing VOCs is driving the growth of water-based paints and coatings, which heavily rely on acrylic acid. The rise of green chemistry initiatives is pushing manufacturers to innovate in bio-based acrylic acid production.

• Rising demand for sustainable products : There is an increasing preference for eco-friendly solutions in construction, automotive, and consumer goods industries. Acrylic acid's use in paints, coatings, and adhesives is seeing a shift toward greener alternatives that align with regulatory standards.

Outlook : Europe will continue to grow steadily but will face increasing competition from Asia-Pacific. The market's future will be heavily shaped by regulatory developments and the growing trend toward bio-based solutions. As demand for sustainable products continues to rise, Europe remains a key region for the growth of eco-friendly acrylic acid.

 

Asia-Pacific

Market Dynamics : Asia-Pacific is expected to be the fastest-growing region in the acrylic acid market. This is due to rapid urbanization, booming infrastructure projects, and the expanding automotive and consumer goods industries in countries like China , India , and Japan . The region's demand for acrylic acid in SAPs, paints, coatings, and adhesives is projected to surge as disposable incomes rise and demand for consumer goods increases.

Growth Drivers :

• Urbanization and infrastructure development : The increasing need for construction materials, including adhesives, paints, and coatings, is a key driver of acrylic acid consumption in Asia-Pacific.

• Rising consumer demand : With the middle class expanding across the region, there is a marked increase in demand for consumer goods, including personal care products, textiles, and household items, all of which use acrylic acid-based formulations.

Outlook : Asia-Pacific is set to witness the highest CAGR, particularly driven by China and India , where rapid industrialization and growing consumer markets will continue to push acrylic acid demand. However, challenges such as price sensitivity and the need for local manufacturing capacity might constrain growth to an extent in some countries.

 

Latin America, Middle East, and Africa (LAMEA)

Market Dynamics : The LAMEA region represents a smaller portion of the global acrylic acid market but is gradually gaining importance due to ongoing industrialization and urbanization in countries like Brazil , Saudi Arabia , and South Africa . As infrastructure projects and consumer goods industries grow, the demand for acrylic acid is rising, particularly in construction and automotive applications.

Growth Drivers :

• Infrastructure and construction : Urbanization in countries like Brazil and Saudi Arabia is driving demand for acrylic acid in paints, coatings, and adhesives used in construction projects.

• Regulatory improvements : While LAMEA faces regulatory challenges, ongoing improvements in chemical industry regulations in countries like Brazil and the UAE are making it easier for manufacturers to produce and distribute acrylic acid.

Outlook : While LAMEA remains a relatively small market, it presents significant growth potential due to its developing industrial base and increasing focus on infrastructure. In the long term, countries in this region are expected to ramp up their demand for acrylic acid, though they may lag behind more developed regions in terms of overall volume and adoption rates.

 

Key Regional Dynamics:

• North America and Europe are well-established markets with a focus on sustainability and regulatory compliance. However, their growth rates are expected to moderate compared to emerging regions.

• Asia-Pacific is leading in growth potential, driven by urbanization, industrial expansion, and increasing consumer demand. This region will likely become the largest market for acrylic acid in the coming years.

• LAMEA represents untapped potential, particularly as infrastructure development continues in key countries.

In conclusion, the acrylic acid market is witnessing a shift toward regions with emerging industrial bases and growing consumer markets, while established markets in North America and Europe continue to focus on sustainability and regulatory compliance. The demand for eco-friendly and bio-based acrylic acid is a trend that will shape the global market in the years to come.

 

End-User Dynamics And Use Case

The acrylic acid market serves a wide range of industries, and the adoption of acrylic acid varies significantly across different end-users. The key sectors driving the demand for acrylic acid include construction , automotive , consumer goods , and personal care . Each of these industries leverages acrylic acid in unique applications, making the end-user dynamics critical to understanding market growth and trends.

1. Construction Industry

The construction industry is one of the largest consumers of acrylic acid, particularly through its use in paints, coatings, adhesives, and sealants. As urbanization continues to rise globally, especially in emerging markets in Asia-Pacific and Latin America , the demand for construction materials such as paints and adhesives has surged.

• Use Case : In the construction sector, acrylic acid is extensively used in water-based paints for both residential and commercial buildings. These paints are favored for their low VOC (volatile organic compound) content, making them an environmentally friendly alternative to solvent-based paints. Acrylic acid helps improve the adhesion properties of coatings, ensuring long-lasting durability on surfaces exposed to harsh weather conditions.

For example, a construction company in India used acrylic acid-based water-based paints in a large commercial building project. These paints provided high durability and reduced the environmental impact of the project, in compliance with local green building regulations. This application not only improved the project’s sustainability credentials but also ensured the coatings maintained superior performance, even in humid conditions.

 

2. Automotive Industry

The automotive industry also represents a significant segment for acrylic acid, particularly in the form of adhesives and coatings . Acrylic acid is widely used in automotive paints and coatings for both exterior and interior parts, including bumpers, mirrors, and seats, due to its ability to create strong, weather-resistant bonds .

• Use Case : One of the major uses of acrylic acid in the automotive industry is in the production of adhesive systems used for structural bonding of automotive parts. A leading automotive manufacturer in Germany implemented acrylic acid-based adhesive systems to improve the durability and resistance of parts exposed to high temperatures and mechanical stress. This reduced the need for mechanical fasteners, offering both cost savings and improved assembly efficiency.

 

3. Consumer Goods and Personal Care

The consumer goods and personal care industries are significant consumers of acrylic acid, particularly in detergents , cosmetics , and textiles . Acrylic acid is used in formulations for detergents and cleaning products due to its ability to improve cleaning efficiency . In personal care, acrylic acid is widely used in hair care products , lotions , and makeup for its thickening and emulsifying properties.

• Use Case : In the personal care sector , acrylic acid is incorporated into shampoos and conditioners to create a more viscous texture and improve product consistency. For example, a leading cosmetics company in South Korea formulated a new line of eco-friendly hair care products using acrylic acid to achieve better formulation stability, along with sustainable packaging . This helped meet the growing demand for clean beauty products while reducing the environmental impact of the product lifecycle.

 

4. Industrial and Agricultural Applications

Acrylic acid is also used in a range of industrial applications, such as water treatment , agriculture , and electronics . In water treatment, acrylic acid is used to improve the efficiency of flocculation and coagulation processes, while in agriculture, it can be used in the formulation of soil conditioners and fertilizers .

• Use Case : A municipal water treatment facility in the United States employed acrylic acid-based chemicals to enhance the flocculation process in water purification systems. This improved the efficiency of the treatment, leading to faster processing times and reduced costs. The application of acrylic acid in this context ensured the facility could meet growing water demand while maintaining the required quality standards.

 

5. Adhesives and Sealants

The adhesives and sealants industry represents a key area for acrylic acid, particularly as demand for these products increases across construction , automotive , and packaging sectors. Acrylic acid enhances the bonding strength and adhesion properties of adhesives, making it ideal for both structural and non-structural applications.

• Use Case : A leading packaging company in North America utilized acrylic acid-based adhesives for its eco-friendly packaging solutions. The adhesives provided superior bonding properties while meeting regulatory standards for low environmental impact, allowing the company to market its products as part of a sustainable packaging initiative. The switch to acrylic acid-based adhesives not only improved performance but also aligned with growing consumer and regulatory demand for eco-conscious products.

 

Key Takeaways:

• Construction and automotive industries remain the largest consumers of acrylic acid, using it primarily in paints, coatings, and adhesives.

• The consumer goods and personal care sectors are also major end-users, utilizing acrylic acid in a variety of formulations, including hair care products and detergents .

• Industrial and agricultural applications , particularly in water treatment and soil conditioning, are steadily growing and are expected to continue expanding in line with global environmental and sustainability goals.

In conclusion, the acrylic acid market is seeing increasing adoption across multiple end-user sectors, with sustainability and high-performance properties driving much of this demand. As industries look for solutions to meet regulatory standards and consumer preferences, acrylic acid’s versatility will remain a key asset in the formulation of products that serve a variety of essential functions across multiple industries.

 

Recent Developments + Opportunities & Restraints

Recent Developments (Last 2 Years)

• BASF and Bio-based Acrylic Acid Development (2024) : BASF, a leading player in the acrylic acid market, has significantly advanced its bio-based acrylic acid production technology. The company has entered into a strategic partnership with a prominent biotech firm to develop a new production process using renewable raw materials. This development is part of BASF's broader strategy to reduce carbon emissions and cater to the growing demand for eco-friendly chemical products.

• Dow’s Expansion of Superabsorbent Polymer Production (2023) : Dow Inc., a key player in the acrylic acid market, announced the expansion of its superabsorbent polymer (SAP) production capacity. The new facility in Texas is expected to significantly increase Dow’s output of SAPs, which are a major application for acrylic acid. This move is in response to the rising demand for SAPs, particularly in the hygiene product sector, and positions Dow to capitalize on growth in emerging markets.

• Mitsubishi Chemical’s Investment in Green Chemistry (2023) : Mitsubishi Chemical has doubled down on its investment in green chemistry with a new initiative to reduce the environmental impact of acrylic acid production. The company has developed a more efficient process for synthesizing acrylic acid that cuts down on energy use and reduces waste. Mitsubishi aims to make its production processes more sustainable and meet the stringent environmental regulations emerging across the globe.

• AkzoNobel’s New Low-VOC Coating Solutions (2024) : AkzoNobel has launched a new range of low-VOC acrylic acid-based coatings designed for the construction and automotive industries. These coatings meet the latest environmental standards, providing customers with products that offer superior performance while minimizing their environmental footprint.

• LG Chem’s Expansion in Asia-Pacific (2023) : LG Chem, a leading acrylic acid producer, has expanded its production facilities in China and India to meet the growing demand for acrylic acid in the region. This expansion is focused on increasing output for paints, coatings, and adhesives, which are in high demand due to rapid industrialization and infrastructure development in these countries.

 

Opportunities

• Bio-based Acrylic Acid : As sustainability becomes a key priority, bio-based acrylic acid is an area with tremendous growth potential. The market for bio-based chemicals is expanding rapidly, driven by both consumer demand for greener products and regulatory pressures on companies to reduce their environmental footprint. Companies that can develop cost-effective bio-based production methods will have a competitive edge, particularly in markets like Europe and North America, where environmental regulations are stringent.

• Emerging Markets : The rapid industrialization and urbanization in Asia-Pacific , particularly China and India , are providing significant opportunities for acrylic acid producers. The demand for acrylic acid in construction, automotive, and consumer goods applications is expected to continue growing in these regions as infrastructure projects and disposable incomes rise. Companies that can tap into these emerging markets will benefit from sustained growth over the next decade.

• Water-based Coatings and Low-VOC Solutions : The increasing preference for water-based paints and low-VOC coatings presents a huge opportunity for acrylic acid producers. These coatings are in high demand due to their environmental benefits and compliance with stringent regulations. As industries like construction, automotive, and furniture look for eco-friendly alternatives, acrylic acid-based waterborne solutions will continue to play a central role in meeting regulatory and consumer expectations.

• Superabsorbent Polymers (SAPs) : The ongoing demand for SAPs, particularly in the hygiene products sector, remains a strong growth driver for acrylic acid. With increasing awareness around personal hygiene and the growing demand for diapers and adult incontinence products, the need for SAPs is expected to rise steadily in both developed and emerging markets.

 

Restraints

• Price Volatility of Raw Materials : One of the major challenges facing acrylic acid producers is the volatility in the prices of propylene and natural gas , the key feedstocks used in the production of acrylic acid. Fluctuations in the cost of these raw materials can have a significant impact on the overall production costs of acrylic acid. This uncertainty can create pricing pressures, particularly in markets where cost competitiveness is critical.

• Environmental and Regulatory Compliance Costs : While environmental regulations are an opportunity for companies offering sustainable solutions, they also pose challenges in terms of compliance costs. Acrylic acid producers may need to invest in advanced technologies and processes to meet increasing regulatory demands for sustainability and reduced emissions. These investments could potentially increase production costs, especially for smaller manufacturers with limited resources.

• Skilled Labor Shortage : The acrylic acid industry, particularly in the chemical production and polymerization areas, requires skilled labor to manage the manufacturing processes. A shortage of skilled professionals in certain regions, particularly in emerging markets, could slow down the adoption of acrylic acid technologies and hinder expansion plans.

• Competition from Alternative Technologies : The acrylic acid market faces competition from other advanced polymerization technologies and substitutes. Innovations in adhesive formulations , bio-based polymers , and alternative coatings technologies could reduce the demand for acrylic acid in certain applications, particularly if these alternatives offer superior performance or lower environmental impact.

 

7.1. Report Coverage Table

Report Attribute	Details
Forecast Period	2024 – 2030
Market Size Value in 2024	USD 14.5 Billion
Revenue Forecast in 2030	USD 20.9 billion
Overall Growth Rate	CAGR of 6.3% (2024 – 2030)
Base Year for Estimation	2024
Historical Data	2019 – 2023
Unit	USD Million, CAGR (2024 – 2030)
Segmentation	By Product Type, By Application, By End User, By Geography
By Product Type	Superabsorbent Polymers, Coatings, Adhesives & Sealants, Others
By Application	Construction, Automotive, Consumer Goods, Industrial & Agricultural, Others
By End User	Construction, Automotive, Consumer Goods, Industrial Applications
By Region	North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Country Scope	U.S., UK, Germany, China, India, Japan, Brazil, etc.
Market Drivers	Sustainable and bio-based production, growing demand in emerging markets, eco-friendly applications
Customization	Available upon request