Acrylic Acid Market Size, Share to Grow at a CAGR of 4.18% during the forecast period by 2030

NEW YORK - Dec. 2, 2022 - PRLog -- According to ChemAnalyst report, "Global Acrylic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2030", The Acrylic Acid market is anticipated to experience a significant rise and reach approximately 8500 thousand tonnes in 2030, at an expected CAGR of 4.18% during the forecast period by 2030. The rising demand for Acrylic Acid by Acrylate Ester, Super Absorbent Polymer, Water Treatment, Detergent, Paper, and other end-use industries, is anticipated to grow the demand for the Acrylic Acid market in the forecast period. Although, the impressive absorption properties of Super Absorbent Polymer is driving its application in hygiene sector, propelling the growth of the Acrylic Acid market in the coming years.

Acrylic acid is primarily synthesized via the catalytic oxidation of propylene. When propylene undergoes two-stage selective oxidation, it generates acrylic acid as the product, while acrolein serves as a fast-acting intermediate. Tantalum, arsenic, and molybdenum oxide work as a catalyst and the reaction is carried out in a fixed-bed reactor at temperatures between 310 and 2500 degrees Celsius. Coatings, adhesives, fabrics, paints, ink, and paper industries are a few of the applications in which acrylic acid and its derivatives are utilized. Furthermore, Acrylic acid is often used for synthesis of polyacrylates, polyacrylic acid and polymethacrylic acids.

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An increase in the overall consumption of Acrylic Acid for manufacturing acrylate esters is primarily driving the Acrylic Acid market globally. Acrylate esters have been employed in many industries, such as plastics, paints & coatings, textiles, and adhesives. Moreover, the Super Absorbent Polymer (SAP) industry also significantly contributes to the growth of the Acrylic Acid market in the forecasted period. SAP holds excellent absorbing properties and is widely used for manufacturing hygiene products like sanitary napkins to non-hygiene applications like agriculture, construction, horticulture, and civil engineering.

Major Players are Arkema SA, BASF SE, Nippon Shokubai Co. Ltd., LG Chem limited, The Dow Chemical Company, Jiangsu Jurong Chemical Co. Ltd, Zhejiang Satellite Petro Chemical Co. Ltd., BASF-YPC Company Limited, Wanhua Chemical Group Co. Ltd., Evonik Industries AG, and Shanghai Huayi Acrylic Acid Co., Ltd.