The acrylic acid market plays a pivotal role in driving innovation and sustainability across a broad range of industries. As a key raw material for various applications, acrylic acid supports the production of superabsorbent polymers, adhesives, coatings, and more. This article dives into the frequently asked questions surrounding the acrylic acid market, offering a comprehensive view of its global dynamics, challenges, and future growth opportunities. The market for acrylic acid is approximated to be USD 11.7 billion in 2023, and it is projected to reach USD 13.8 billion by 2028 at a CAGR of 3.3%. The market research study includes information on market factors such as the market dynamics, drivers, restraints, challenges, threats, potential growth opportunities, acrylic acid market trends, development patterns, financial information, latest technologies, innovations, leading competitors, and regional analysis of the market.

What is Acrylic Acid, and What are Its Primary Uses?

Acrylic acid is a versatile, colorless liquid organic compound widely used in producing polyacrylic acids and acrylate esters. These derivatives serve as essential components in superabsorbent polymers (SAPs), adhesives, coatings, and detergents. Industries like personal care, construction, textiles, and water treatment heavily rely on acrylic acid for its unique properties and adaptability.

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Key Industries Driving Acrylic Acid Demand

Globally, the demand for acrylic acid is shaped by the following industries:

• Personal Care: SAPs for diapers, feminine hygiene products, and adult incontinence products.
• Construction: Adhesives, paints, and coatings for structural durability and aesthetics.
• Water Treatment: Production of dispersants and scale inhibitors for efficient water management.
• Textiles: Applications in fabric coatings and finishes.

By acrylic esters application, the adhesives and sealants projected to account for highest CAGR during forecast period

The adhesives and sealants application segment is the fastest growing application of acrylic acid esters. Adhesives derived from acrylic acid esters exhibit exceptional adhesion to a wide range of substrates, coupled with fast curing times and high resistance to environmental factors, making them invaluable for adhesive and sealant formulations. As industries seek innovative solutions for bonding, joining, and sealing various materials, acrylic acid esters offer the versatility and performance needed to address these evolving demands, thereby propelling their significant growth in this segment of the acrylic acid market.

By acrylic polymer and other derivatives application, the diapers and training pants projected to have the largest market share

The dominant use of acrylic acid polymers in diapers and training pants is attributed to their remarkable absorbent qualities, which provide efficient moisture management and leakage avoidance in personal care items. Because of their extraordinary capacity to absorb and hold several times their own weight in fluids, acrylic acid polymers, commonly known as superabsorbent polymers (SAPs), are crucial parts of diapers and training trousers. The necessity of providing comfort, hygiene, and convenience to newborns and toddlers underlies this application’s top priority, which in turn fuels the Diapers & Training Pants industry’s powerful demand for acrylic acid polymers.

Regional Insights: Europe and North America

Europe

The European acrylic acid market is characterized by:

• A strong emphasis on sustainability, with significant investments in bio-based acrylic acid production.
• Growing demand for water-based coatings driven by regulatory mandates on volatile organic compounds (VOCs).
• Increased consumption of hygiene products due to rising health awareness.

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North America

In North America, the acrylic acid market is witnessing:

• Expanding applications in superabsorbent polymers for personal care products.
• Robust growth in the construction sector, fueling demand for adhesives and coatings.
• A shift towards eco-friendly derivatives aligning with environmental standards.

Who are the Leading Producers of Acrylic Acid?

Prominent global players include BASF, Dow, Arkema, Evonik Industries, and LG Chem. These companies focus on sustainable innovations, advanced production technologies, and expanding their product portfolios to maintain market leadership.

Sustainability: A Transformative Trend

Environmental concerns and regulatory pressures have spurred the development of bio-based acrylic acid, produced using renewable resources like glycerol. This eco-friendly alternative addresses:

• The reduction of carbon footprints in industrial processes.
• Compliance with stringent regulations like Europe’s REACH and the U.S. EPA standards.
• Enhanced consumer demand for sustainable products in adhesives, paints, and personal care.

What are the Challenges Facing the Acrylic Acid Market?

While the market is growing, it faces significant challenges:

• Raw Material Volatility: Propylene prices, derived from petroleum and natural gas, remain unpredictable.
• Environmental Impact: Emissions during production raise concerns among regulators and consumers.
• Market Competition: Substitutes like methacrylic acid pose a competitive threat.

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Applications and Future Potential

Superabsorbent Polymers (SAPs)

SAPs remain the dominant application, particularly in Europe and North America, where hygiene products account for a substantial share of acrylic acid consumption.

Adhesives and Coatings

Driven by construction and automotive industries, the demand for durable, low-VOC adhesives and coatings is expanding globally.

Water Treatment Chemicals

Acrylic acid derivatives are vital for effective water treatment, supporting global efforts to improve water quality and availability.

Bio-Based Acrylic Acid: A Game Changer

The emergence of bio-based acrylic acid represents a pivotal shift in the market, addressing sustainability goals and opening new avenues for growth. Key advantages include:

• Reduced dependency on fossil fuels.
• Alignment with global environmental initiatives.
• Potential cost efficiencies as production technologies advance.

Acrylic Acid Market Key Players 

The demand for acrylic acid is furnished by global players manufacturing for various end-use sectors. Some of the leading companies involved in the manufacturing of acrylic acid are BASF SE (Germany), Arkema (France), Nippon Shokubai Co., Ltd. (Japan), LG Chem (South Korea), and The Dow Chemical Company (Midland, Michigan). These companies, along with other regional companies, cater to the demand for acrylic acid products globally.

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BASF SE, headquartered in Ludwigshafen, Germany, is a global chemical company renowned for its diverse portfolio of products and solutions across numerous industries. With a history spanning over a century, BASF is a leading player in the chemical sector, offering a wide array of chemicals, plastics, performance products, agricultural solutions, and more. The company’s commitment to innovation, sustainability, and collaborative partnerships has solidified its position as a key contributor to advancements in various sectors around the world. The company operates its business majorly through six segments: Chemicals, Materials, Surface Technologies, Industrial solutions, Nutrition & Care, and Agricultural Solutions.

Future Outlook: Growth and Innovations

The acrylic acid market is poised for steady growth, with Europe leading sustainability initiatives and North America driving technological advancements. The increasing adoption of bio-based products, coupled with strong demand from end-use industries, sets the stage for a promising future.

Conclusion

The global acrylic acid market is at the intersection of innovation and sustainability, meeting diverse industrial needs while addressing environmental challenges. With major producers investing in bio-based alternatives and advanced technologies, the market is well-positioned for long-term growth. By understanding the evolving trends and consumer demands, businesses can capitalize on emerging opportunities in this dynamic sector.