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Glacial Acrylic Acid Market – How The Market Developments Of Key Players Impact The Overall Industry?

Author : Ronak Bora | Published Date : 2019-03-18 

Global glacial acrylic acid market size was estimated at over 2.2 million tons in 2015 and is likely to exceed 3.2 million tons by 2023 with expected gains of over 5.5%. The market was valued at over USD 4.5 billion in 2014 and is likely to worth more than USD 10 billion by 2023 growing at an estimated CAGR of 9.5 % up to 2023.

The global glacial acrylic acid market share is fragmented wit top four companies catering to more than 45% of the total demand. Major companies operating in this market include BASG, Dow Chemical, Arkema, LG Chemical and Nippon Shokubai. Other prominent companies include Formosa Plastics, Sinopec, Idemitsu Petrochemical, Shanghai Huayi, Singapore Acrylics, Stohaas and Shenyang Chemical.

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Glacial acrylic acid (GAA) is widely used for (SAP) super absorbent polymer market production where its end-uses comprises majorly in manufacturing diapers, adult incontinence products and female hygiene products. Diaper application was the largest GAA consuming segment in 2015 and accounted for more than 50% of the total volume and is likely to witness significant growth rates. Adult incontinence and female hygiene product accounted for more than 5% and 2% of the total demand in 2014.

Asia Pacific glacial acrylic acid market size was estimated at more than 1.1 million tons and is likely to witness highest gains of over 6% up to 2023. North America accounted for more than 25% of the total acrylic acid demand and is likely to witness steady gains at over 5% up to 2023. Europe is also expected to witness steady growth rates up to 2023. Latin America is likely to witness significant gains at over 6% from 2016 to 2023.

Increase in demand for super absorbent polymers (SAP) is likely to drive glacial acrylic acid market. SAPs are widely used baby diaper applications and healthy growth rate in this segment is likely to be supported by emerging regions of Asia Pacific and Latin America.

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Glacial acrylic acid market price depends on purity and color. Most common GAA has APHA (American Public Health Association) of less than 10, purity of 99.6% and dimer content of maximum 500 ppm.

Asia Pacific acrylic acid market has been the largest consuming region over the past few years with China dominating the regional demand. China is also likely to witness rise in glacial acrylic acid production capacity to meet the end-user industry demand. India, South Korea, Indonesia and Thailand are also likely to witness an increase in demand. Population expansion coupled with an increase in spending capacity is likely to favor regional demand.
 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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