Overview of Acrylic Acid Market
The Acrylic Acid Market Size is a crucial segment within the chemical industry, widely used in various applications such as acrylate esters, super absorbent polymers (SAP), and other industrial applications. The market is characterized by growing demand from industries such as adhesives, coatings, personal care, and water treatment. In 2024, the global acrylic acid market reached a volume of approximately 8.44 million metric tons (MMT). With a projected compound annual growth rate (CAGR) of 5.10%, the market is expected to attain a volume of around 13.88 MMT by 2034. The demand is driven by increasing industrialization, rapid urbanization, and the rising need for super absorbent polymers, particularly in the hygiene and personal care industries. The market landscape is further influenced by key players expanding their production capacities and investing in research and development to enhance product quality and sustainability.
Market Size
The global acrylic acid market has witnessed consistent growth, reaching a volume of approximately 8.44 MMT in 2024. The market is anticipated to grow steadily at a CAGR of 5.10% during the forecast period of 2025-2034, reaching an estimated volume of 13.88 MMT by 2034. This growth is primarily attributed to the increasing demand for acrylic acid derivatives, particularly in the adhesives, coatings, and hygiene product industries. The rising consumption of super absorbent polymers in the production of diapers and sanitary products also contributes significantly to the market’s expansion. Furthermore, the growth of end-use industries in emerging economies, particularly in Asia-Pacific, is expected to drive market growth over the forecast period. The increasing investment in sustainable production techniques and the development of bio-based acrylic acid are additional factors supporting market expansion.
Market Trends
The acrylic acid market is experiencing several significant trends that are shaping its future growth. One of the primary trends is the increasing demand for bio-based acrylic acid due to rising environmental concerns and stringent regulations regarding carbon emissions. Companies are investing in sustainable production methods to reduce their carbon footprint. Another key trend is the growing application of super absorbent polymers (SAP) in hygiene and personal care products, driven by increasing awareness regarding health and hygiene, especially in developing countries. Additionally, the increasing use of acrylic acid in water treatment applications is gaining traction as industries focus on sustainable water management. The expansion of the construction and automotive industries is also propelling the demand for acrylic-based coatings and adhesives. Furthermore, technological advancements in acrylic acid production processes, aimed at improving efficiency and reducing costs, are expected to create new growth opportunities in the market.
Market Growth
The acrylic acid market is poised for steady growth, driven by its widespread applications across multiple industries. The projected CAGR of 5.10% from 2025 to 2034 highlights the market’s positive trajectory. The growing adoption of acrylic acid-based products in adhesives, coatings, and super absorbent polymers is a major growth factor. Rapid industrialization in developing countries, particularly in Asia-Pacific, is also a key driver. The rising demand for hygiene products, including diapers and adult incontinence products, is fueling the consumption of super absorbent polymers. Additionally, government initiatives promoting sustainable and eco-friendly products are encouraging the shift towards bio-based acrylic acid. The expansion of end-use industries, coupled with increasing R&D activities, is expected to boost market growth further. However, fluctuations in raw material prices and environmental concerns related to acrylic acid production may pose challenges to the market’s growth.
Industry Segmentation
Breakup by Application
Acrylate Esters
Acrylate esters represent a significant application of acrylic acid, widely used in paints, coatings, adhesives, and textiles. These esters provide excellent durability and adhesion properties, making them ideal for high-performance coatings and industrial applications. The growing construction and automotive industries are driving demand for acrylate esters, particularly in emerging economies.
Super Absorbent Polymer (SAP)
Super absorbent polymers (SAP) are extensively used in personal hygiene products such as diapers, adult incontinence products, and sanitary napkins. The rising global population and increasing awareness regarding hygiene are key factors contributing to the growth of this segment. The demand for SAP is expected to surge, particularly in Asia-Pacific, due to increasing consumer disposable income and lifestyle changes.
Breakup by Region
North America
North America is a significant market for acrylic acid, driven by strong demand in the United States and Canada. The well-established industrial base and increasing use of acrylic acid derivatives in adhesives, coatings, and hygiene products contribute to market growth.
Europe
Europe’s acrylic acid market is supported by key countries such as the United Kingdom, Germany, France, and Italy. The region’s focus on sustainability and the increasing adoption of bio-based acrylic acid are driving market expansion.
Asia Pacific
Asia-Pacific dominates the global acrylic acid market, with China, Japan, India, and ASEAN countries being major contributors. The rapid industrialization, growing construction sector, and rising demand for personal hygiene products fuel market growth in this region.
Latin America
Latin America, led by Brazil, Argentina, and Mexico, is experiencing moderate growth in the acrylic acid market. The expanding automotive and construction industries are key growth drivers in this region.
Middle East and Africa
The Middle East and Africa market, including Saudi Arabia, UAE, Nigeria, and South Africa, is growing due to increasing industrialization and infrastructure development. The rising demand for high-performance coatings and adhesives is also contributing to market expansion.
Major Competitors
- BASF SE: A leading global chemical company engaged in the production of acrylic acid and its derivatives.
- Nippon Shokubai Co. Ltd.: A major manufacturer specializing in super absorbent polymers and acrylic acid products.
- The Dow Chemical Company: A key player in the acrylic acid market, supplying raw materials for coatings, adhesives, and hygiene products.
- Arkema Group: Known for its innovations in specialty chemicals, including acrylic acid derivatives.
- LG Chem Ltd.: A major producer of acrylic acid, focusing on sustainable and high-performance materials.
- Shanghai Huayi Acrylic Acid Co., Ltd.: A prominent Chinese manufacturer of acrylic acid and related products.
- Evonik Industries AG: A leading specialty chemicals company involved in the production of acrylic acid for industrial applications.
- Mitsubishi Chemical Corporation: A key supplier of acrylic acid used in a range of industrial and consumer applications.
- SIBUR International GmbH: A major player in the global chemical industry, supplying acrylic acid and derivatives.
- Satellite Chemical Co., Ltd.: A Chinese manufacturer specializing in acrylic acid production.
- Wanhua Petrochemical (Yantai) Co., Ltd.: A significant producer of acrylic acid in China.
- Toagosei Co., Ltd: A Japanese chemical company involved in acrylic acid production.
- China Petroleum & Chemical Corporation: A state-owned enterprise contributing to the acrylic acid market through large-scale production.
The acrylic acid market is set to experience significant growth over the forecast period, driven by strong demand across multiple industries, increasing R&D efforts, and expanding applications in emerging economies.
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