Acrylic Acid Market Size, Share, Growth Analysis, By Type (Acrylic Esters, Acrylic Polymer), By Technology (Propylene-based Process, Bio-based Acrylic Acid), By End Use, By Region - Industry Forecast 2024-2031

Global Acrylic Acid Market size was valued at USD 13.1 billion in 2022 and is poised to grow from USD 13.7 billion in 2023 to USD 19.3 billion by 2031, growing at a CAGR of 4.4% during the forecast period (2024-2031).

The demand for acrylic acid is experiencing significant growth, driven primarily by increased infrastructural and building activities that require paints, coatings, sealants, and adhesives. This trend also extends to the personal care sector, where ultra-absorbent polymers derived from acrylic acid are pivotal in hygiene products such as diapers and sanitary items. As a foundational element in acrylate esters used in coating formulations, acrylic acid remains integral to the paints and coatings industry. Additionally, consumer demand for products like adhesives and textiles is increasing, fueled by rising disposable incomes. With the expansion of end-use industries including packaging, automotive, textiles, and construction, combined with technological advancements reducing production costs, the acrylic acid market is poised for robust growth, particularly in developing regions experiencing rapid urbanization.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Acrylic Acid market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Acrylic Acid Market Segmental Analysis

Global Acrylic Acid Market is segmented by Type, Technology, End Use and Region. Based on Type, the market is segmented into Acrylic Esters, Acrylic Polymer, and Others. Based on Technology, the market is segmented into Propylene-based Process, Bio-based Acrylic Acid, and Acrolein-based Process. Based on End Use, the market is segmented into Surfactants & Surface Coatings, Organic Chemicals, Adhesives & Sealants, Textiles, Water Treatment, Personal Care Products, and Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Acrylic Acid Market

The global acrylic acid market is being significantly propelled by the surging demand for superabsorbent polymers (SAPs), which have become increasingly vital in the production of personal care products like diapers, adult incontinence items, and feminine hygiene products. As hygiene awareness grows alongside population expansion, the need for SAPs continues to rise, subsequently boosting the acrylic acid industry. This essential raw material is crucial for the manufacturing of SAPs, further establishing a strong link between the two markets. Consequently, the acrylic acid sector is set to benefit from this heightened demand driven by the need for effective absorbent solutions in various personal care applications.

Restraints in the Global Acrylic Acid Market

The Global Acrylic Acid market faces significant restraints stemming from environmental and regulatory concerns. The utilization of potentially hazardous chemicals in acrylic acid production raises questions about sustainability and pollution management. Stringent environmental regulations and compliance demands in major markets may hinder market growth, particularly if manufacturers encounter challenges in adopting cleaner production methods or if such regulations incur higher operational costs. These factors could limit the ability of manufacturers to scale their operations, thereby impacting the overall growth potential of the acrylic acid market as they strive to meet regulatory standards while maintaining profitability.

Market Trends of the Global Acrylic Acid Market

The global acrylic acid market is witnessing a significant shift towards bio-based production, fueled by rising consumer demand for sustainable and environmentally friendly products. As industries focus on reducing their carbon footprint, renewable feedstocks such as maize, glycerol, and glucose are becoming the preferred inputs for acrylic acid manufacturing. This transition is driven by advancements in green chemistry and bioengineering technologies, which enhance production efficiency and lower environmental impact. Consequently, manufacturers are adapting to this trend to meet regulatory pressures and consumer expectations, indicating a robust growth trajectory in the bio-based acrylic acid segment, ultimately reshaping the market landscape.