NEW YORK, April 12, 2016 /PRNewswire/ -- The global acrylic acid market size is estimated to reach USD 13.21 billion by 2020 at a CAGR of 5.2% between 2015 and 2020. The drivers of the industry are identified as rising demand for acrylic acid derivatives in the emerging markets, and high demand from end-use industries, of acrylic acid. Increasing demands from end-use applications and newer applications due to extensive R&D are the major driving force for strategic expansions. The acrylic acid market is expected to witness a steady growth over the forecast period as economies around world accelerate. The market for acrylates and SAP is rapidly expanding with increasing demand from existing and emerging end-use applications.
"Diapers and surface coatings are the largest applications of acrylic acid"
Growing popularity of SAP and increasing use of commodity acrylates in various applications play a significant role in driving the market. The property of SAP to absorb and retain water makes it a material of choice in baby and adult diapers. Mature markets for acrylic acid that include North America and Europe have increasing number of adult population, driving the adult diapers market in the regions. Japan also has a large number adult population for which the country remains a major consumer of SAP for the making diapers. The acrylic acid industry is seeing high growth in Asia-Pacific, with increasing consumption of acrylic derivatives in surface coatings, adhesives & sealants, and diapers. Water-borne coatings are made using acrylics as binders. The shift toward water-borne coatings from solvent-based coatings is the significantly driving the acrylic acid market in surface coatings globally.
"Rising demand in Asia-Pacific is the major growth driver for the acrylic acid market "
In 2014, Asia-Pacific was the largest market for acrylic acid. The region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from emerging countries of the region. China is the largest market for acrylic acid globally with high demand.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments gathered through secondary research.
The break-up of primary interviews is given below.
- By Company Type - Tier 1 – 34%, Tier 2 – 33%, and Others – 33%
- By Designation - C level – 12%, Director level – 25%, and Others – 63%
- By Region - North America – 30%, Europe – 27%, Asia-Pacific – 32%, and RoW- 11%
The key companies profiled in this market research report are Arkema (France), BASF SE (Germany), Evonik Industries (Germany), Nippon Shokubai Co. Ltd. (Japan), The Dow Chemical Company (U.S.), LG Chem Ltd. (South Korea), Hexion Inc. (U.S.), Mitsubishi Chemical Holdings Corporation (Japan), PJSC Sibur Holding (Russia), and Sasol Limited (South Africa).
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the acrylic acid market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, new product developments, joint ventures, and mergers & acquisitions.
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