Acrylic Acid: Worldwide Market Forecasts to 2023 - Applications for Adhesives Has Been Growing at the Highest Rate of About 10.21% Per Year
DUBLIN, Dec. 7, 2018 /PRNewswire/ --
The "The Global Acrylic Acid Market" report has been added to ResearchAndMarkets.com's offering.
According to a recently conducted research about the global acrylic acid market, as an overall, it is projected to reach approximately 7,162 thousand tons by the end of 2023, increasing at a CAGR of around 3% per year in the period 2017-2023.
The report focuses on both product and regional breakdown, offering a larger perspective on the market dynamics. Although acrylic acid is predominantly used as a raw material for acrylic esters the analysis considers the application of acrylic acid across various industries.
In particular, the largest share of acrylic acid consumption is for the production of acrylic acid esters, which accounted for around 48% of the total in volume terms. Meanwhile, the chemical's application for adhesives has been growing with the highest rate of about 10.21% per year.
Regionally, the largest global acrylic acid market was North East Asia, which accounted for about 50% of the total in volume terms. In comparison, the CIS countries were the smallest global acrylic acid market during the analyzed period and are expected to remain such in the medium term.
Acrylic acid is highly dependent on the development of end-use markets such as paints, varnishes, and surface coatings, textiles, adhesives, and plastics, and others. The commodity acrylates are majorly used in the paints and coatings industry in waterborne coatings. Currently, as the governments are restricting the use of VOCs, solvent-based coatings are being replaced by water borne coatings. This has been driving the demand of the chemicals in the industry.
A trend in the industry is the rising demand for super-absorbent polymers. Accounting for about 33% of the global acrylic acid supply in 2016, they have experienced very strong growth primarily in the personal disposable hygiene products such as baby diapers, adult protective underwear, and sanitary napkins.
In terms of demand, any potential growth in the market was expected in line with GDP moves of a few percentage points since demand for these products, and from the construction industry, is closely linked with GDP.
Moreover, the demand for coatings is cyclical. It starts declining in the fourth quarter of the year and would continue its decline until it flattens in January and then picks up again in February in advance of the spring coatings season in the region.
Some of the main players on the acrylic acid market are planning to open up additional production capacities in different regions, which may result in a modest CAGR of about 1.12% per year. As far as the balance between supply and demand is concerned, the market is forecast to remain in a state of undersupply in most of the upcoming years.
Key Topics Covered
1. Introduction
2. Executive Summary
3. Characteristics of Acrylic Acid
4. State of the Global Demographics and Economy
5. Overview and Analysis of the Global Acrylic Acid Market
6. Overview and Analysis of the Global Production of Acrylic Acid
7. Characteristics and Analysis of the Global Prices of Acrylic Acid
8. Overview and Analysis of the Global Imports of Acrylic Acid
9. Overview and Analysis of the Global Exports of Acrylic Acid
10. Balance Between Supply and Demand on the Global Acrylic Acid Market
Companies Featured
- Sasol
- Nippon Shokubai
- Synthomer
- Arkema
- BASF
- Dow Chemical
- Evonik Degussa
- Saudi Acrylic Monomer
- American Acryl
- BASF-YPC
- China Nat. Offshore Oil Co
- Formosa Plastics Corp.
- Fujian Binhai Chemical
- Jiangsu Jurong Chemical
- Petrochina Lanzhou Pc
- Shenyang Paraffin Chem.
- Taixing Sunke Chemicals
- Wanhua Chemical
- Wanzhou Pc
- Zhejiang Satell. Pc
- Zhenghe Group
- Idemitsu Kosan
- Mitsubishi Chemical
- Nippon Shokubai
- Oita Chemical
- LG Chemical
- Bharat Petroleum Corp.
- Indian Oil Corp.
- Nippon Shokubai Indonesia
- BASF Petronas Chem.
- Singapore Acrylic
For more information about this report visit https://www.researchandmarkets.com/research/d6bq3f/acrylic_acid?w=5
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SOURCE Research and Markets
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