Acrylic Acid Market: Analysis and Forecast 2022-2027

Acrylic Acid Market: Analysis and Forecast 2022-2027

Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices by Acrylic Acid Market

The Acrylic Acid produced a volume of about 6.6 MMT in 2021. In the projection period of 2022-2027, the industry is expected to grow at a CAGR of around 4.7 percent, achieving a volume of around 8.7 MMT by 2027.

The acrylic acid report broadly studies the industry, together with important segments, movements, drivers, constraints, the competitive landscape, and other critical market features. The acrylic acid market is being driven by rising demand for superabsorbent polymers and widespread acceptance of acrylic-based items in emerging economies such as the Asia Pacific. The Asia Pacific is the biggest category spender by region which is impelling the demand for the acrylic acid Market.

Acrylic Acid: Market Definition and Segmentation

Scope

Acrylic acid is a chemical molecule that has a strong odour and is a clear liquid. It is an unsaturated carboxylic acid with a vinyl group immediately linked to the carboxylic acid terminal.

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The Acrylic Acid Market comprises segments:

  • By Application – Acrylate esters, and SAP
  • By Geography – North America, Europe, Asia Pacific, the Middle East and Africa, and South America

Snapshot of the Report

The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.

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Category Drivers

The move from solvent-based to water-borne coatings is propelling the acrylic acid market. REACH and EPA restrictions limiting the use of VOCs are fueling the industry’s expansion. The expanding industrialisation and burgeoning automotive sector in Asia-Pacific countries are driving the acrylic acid market in surface coatings applications. The acrylic acid market is being driven by rising demand for superabsorbent polymers and widespread acceptance of acrylic-based items in emerging economies such as Asia-Pacific.

Acrylic acid-based elastomers, such as AEM (Ethylene Acrylic Elastomers), are used as a synthetic rubber substitute in a variety of applications, such as automotive gaskets and hoses. Because of the increasing properties of AEM, such as strength and resistance, the polymer sector will desire more acrylic acid over the forecast period. Furthermore, demand for methacrylate-based polymers in lighting fixtures, glass, vehicle rear lights, and electronic displays has expanded dramatically, indicating that the acrylic acid sector has developed significantly.

Category Insight by Region

In the Asia Pacific, acrylic acid is the most popular product. The region is the world’s greatest producer and controls a considerable chunk of the market. China is its most important and fastest-growing market in the region. China’s demand for adhesives, paints, and coatings is increasing because of increased investments in the building and infrastructure sectors. China is also one of the world’s largest purchasers of personal hygiene products. As a result, the acrylic acid market, which is used to create personal care products, is predicted to expand.

Acrylic acid is used to make SAP because of its capacity to absorb and retain water. It is commonly used in the manufacture of diapers and sanitary pads for women. As a result, they can be used in water-absorbing applications such as newborn diapers, adult incontinence pads, absorbent medical dressings, and controlled-release pharmaceuticals.

Tampons, sanitary napkins, menstruation cups, and vaginal health products make up a significant share of the superabsorbent polymers business.

Governments in several countries are conducting campaigns to improve awareness of feminine hygiene among women, particularly in emerging economies, in partnership with various non-profit organisations (NGOs). As a result, increased sanitary napkin sales are expected to propel the market for acrylic acid.

Overall, greater hygiene awareness across all demographic groups is expected to boost the use of superabsorbent polymers (diapers, pads, and sanitary napkins), resulting in an increase in acrylic acid usage over the projection period. Acrylic acid is used as a starting element in superabsorbent polymers before being mixed with sodium hydroxide to form polyacrylic acid. Increased demand for bio-based polymers in healthcare applications is expected to open new opportunities for the market in the future.

Best Procurement Practices

The global Acrylic Acid Market by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major customers of acrylic acid products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Before being fed into a two-step oxidation reaction system, chemical-grade propylene (C.G.) is blended with steam and air. The oxidation of propylene to acrolein and then to acrylic acid are the two processes. Both processes are carried out in fixed-bed tubular reactors. Heat is generated by exothermic activities, which are then used to make steam. The effluent from the reaction system is sent to a quench tower, where the acrylic acid produced is absorbed in water. The leftover gas collected at the top of the quench tower is burnt in part before being reintroduced to the first-step reactor. The aqueous solution is delivered to downstream units for product recovery.

In a liquid-liquid extraction process, the quench solution is delivered into an extractor, where the acrylic acid is removed using a solvent. The top section of the extractor, which contains the acrylic acid, is fed to a solvent-recovery column to recover a two-phase overheads stream. The solvent-containing organic phase is separated from the two-phase stream and returned to the extractor.

To minimise solvent losses, the aqueous phase is mixed with the raffinate from the extraction process and fed to a raffinate stripper. The solvent-recovery column’s bottom product is fed into the crude acrylic-acid column, which creates a concentrated acrylic acid stream as the bottom product.

The concentrated acrylic acid stream is sent from the crude acrylic acid column to the purification area’s product column. Ester-grade acrylic acid is made in the same way as the previous product in this column. The bottoms of the columns are passed through a dedimerizer, which converts the dimer impurity produced during the process back to acrylic acid. Finally, the output of the dedimerizer is routed to the bottom stripper column, which separates and discards the heavy ends.

Key Supplier Profiles included in the palm oil Market

The key market players are BASF SE, China Petroleum & Chemical Corporation (SINOPEC), Arkema, Dow, and Mitsubishi Chemical Corporation.

The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments of the suppliernutms.

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