Acrylic Acid Market size is anticipated to reach USD 20 billion by the end of 2035, growing at a CAGR of 8% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of acrylic acid was over USD 10 billion. Acrylic acid is a crucial chemical building block used in various industries, including adhesives, coatings, textiles, water treatment, and superabsorbent polymers. Superabsorbent polymers, which are derived from acrylic acid, have a high demand in the personal care industry for products like diapers, adult incontinence products, and feminine hygiene products.
Acrylic acid-based coatings and adhesives are widely used in the construction industry, and the steady growth in construction activities worldwide was driving the demand for acrylic acid. Acrylic acid is used in water treatment chemicals, including coagulants and flocculants, which are essential for purification processes in industries and municipalities.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 10 Billion |
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Forecast Year Market Size (2035) |
~ USD 20 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Type (Esters, Polymers)
The polymers segment is estimated to hold 65% share of the global acrylic acid market in the year 2035. Increasing urbanization and changing lifestyles have resulted in a greater preference for convenience products like disposable diapers, boosting the demand for superabsorbent polymers. The growth of industries such as personal care, agriculture, and medical care has driven the demand for superabsorbent polymers in various applications.
End User (Chemicals, Construction, Automotive)
Acrylic acid market from the automotive segment is expected to garner a significant share in the year 2035. Global automotive production was projected to reach approximately 90 million units by 2025, driven by the growing demand for vehicles in emerging markets and the recovery of the automotive industry in developed regions. The automotive industry's focus on reducing vehicle weight to improve fuel efficiency and lower emissions has led to an increased demand for lightweight materials, including acrylic-based coatings and adhesives.
Our in-depth analysis of the global acrylic acid market includes the following segments:
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Type |
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End User |
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APAC Market Forecast
The acrylic acid market in the Asia Pacific region is projected to hold the largest market share of 38% by the end of 2035. The Asia Pacific region has been witnessing significant industrialization and urbanization, leading to increased demand for various products and applications that use acrylic acid, such as coatings, adhesives, and superabsorbent polymers. The construction industry in the Asia Pacific region was noted to be the largest in the world, with a share of over 45% in global construction output.
North American Market Statistics
The acrylic acid market in the North America region is projected to hold the second-largest share during the forecast period. North America is one of the key regions for the automotive industry, with significant demand for acrylic acid-based adhesives and coatings used in vehicle assembly and repair. Advancements in polymer chemistry and continuous research in the field have led to the development of new and improved applications for acrylic acid and its derivatives in North America.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: Increasing demand for automotive is the major factor driving the market growth.
Ans: The market size of acrylic acid is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2023 – 2035.
Ans: The major players in the market are BASF SE, Dow Chemical Company (Now Dow Inc.), Nippon Shokubai Co., Ltd., Arkema S.A., LG Chem Ltd., Mitsubishi Chemical Corporation, and others.
Ans: The automotive segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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