Acrylic Acid Market Size & Share, by Derivative Type (Acrylic Polymers, and Acrylic Esters); Application; and End user - Global Supply & Demand Analysis, Growth Forecasts, Statistical Report 2025-2037

Acrylic Acid Sector: Growth Drivers and Challenges

Growth Drivers

• Innovations of green chemistry: Recent advancements in green chemistry, particularly bioprocessing and enzymatic synthesis, are enabling the production of bio-based acrylic acid. Such technologies increase yield with less environmental impact and render sustainable acrylic acid production more economically viable and attractive to manufacturers. This drives demand for sustainably sourced acrylic acid, and subsequently, industries that rely on it, such as packaging and personal care, adopt greener formulations.
• Rising regulatory pressures: In March 2024, the U.S. Environmental Protection Agency (EPA) issued a final rule mandating Safer Technologies and Alternatives Analyses (STAA) by chemical facilities to reduce the risks of accidents, especially in susceptible communities. The rule impacts more than 11,001 facilities, such as acrylic acid manufacturers, that could see compliance costs rise by around 15.2% as a result of required safety improvements and process changes. The European Chemicals Agency (ECHA) continues to grow its Candidate List of Substances of Very High Concern (SVHC). This creates an environment of pressure for manufacturers to assess and possibly reformulate products to continue having market access.

1. Acrylic Acid Market Overview and Price Dynamics

The major ingredient of superabsorbent polymers, coatings, and adhesives is acrylic acid, which is mainly produced by oxidizing propylene. In 2023, the global market reached USD 11.26 billion, with North America holding a 41% share and Asia-Pacific at 24%.  Price history and unit sales are listed below:

Price History and Unit Sales (2020–2024)

2. Emerging Trade Dynamics and Market Prospects

The international chemical business is witnessing profound changes with geopolitical tensions, supply chain breakdowns, and changing consumption patterns. In 2021, U.S. chemical exports recovered by 25.5% to $264.2 billion due to growing demand in diverse sectors. Asia-Pacific, which controlled 45.1% of the world's acrylic acid market in 2022, is in a leading position. Routes including Europe to North America and Japan to Asia continue to be crucial, with the Asia-Pacific route accounting for a sizable amount of global chemical trade. Trade data has been mentioned below:

Acrylic Acid Trade Data (2019–2024)

Top Exporters to the U.S. in 2023

 U.S. Export Destinations in 2023

Significant Trade Patterns

Impact of Global Events

3. Market Dynamics of Japan’s Acrylic Acid Sector

Increasing application of acrylic acid in electronics, automotive, and sustainability-focused applications is propelling the market's further development in Japan. Sectors such as semiconductors and electric vehicle production require a large number of high-performance materials. Meanwhile, Japanese manufacturers are focusing on green innovations such as bioplastics and increasing research and development and capital expenditure to stay competitive. These strategic transitions, emphasizing digital manufacturing technologies and the circular economy, are consistent with global acrylic acid market trends.

Composition data has been mentioned below

Value of Acrylic Acid Shipments by Manufacturing Industry (2018–2023)

R&D Expenses and Capital Investment Trends (2018–2023)

Top Chemical Companies: Financial Performance Snapshot (2023)

Challenges

• Volatile raw material production prices: Acrylic acid manufacturing is highly dependent on propylene, which is a petrochemical feedstock. Propylene prices have risen over the last five years by over 26%, thereby creating cost uncertainty for manufacturers. The initial and ongoing cost of establishing acrylic acid manufacturing plants is high, with capital expenditures on new plants alone running over $500.1 million. Moreover, compliance with environmental regulations necessitates investing in waste treatment and emission control equipment, raising operating costs.
• Stringent environmental and licensing regulations: As a harmful substance, glacial acrylic acid is controlled by strict handling, storage, and transportation provisions. There exist major threats of respiratory and skin irritation by acrylic acid, which may undermine worker protection. The different regulatory environments are exemplified by South Korea's updated list of pre-registered substances under K-REACH and China's export control on licensing of certain chemicals to neighboring countries. Due to these disparities, producers must resolve complex compliance issues, which could result in delayed market access and higher costs.