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Glacial Acrylic Acid Market Size 2024 To Amass Considerable Returns From The Asia-Pacific

Author : Ronak Bora | Published Date : 2019-05-28 

Global Glacial Acrylic Acid Market Forecast to 2024 released By Global Market Insights, Inc. provides market information about industry top key players, countries, type and application. This report also states company profile, sales, market revenue and price, market share, market growth and gross margin by regions, strategic recommendations for the new entrants, market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.

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.

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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.

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 market 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.

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.

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.

It is used in the manufacturing of homo, co and tertiary polymers used as sequestrant in numerous applications. Detergent application accounted for approximately 8% of the total volume in 2015 whereas coatings and specialty esters applications comprised of more than 7% each in the same year. It is also used as an anti-scaling agent in water treatment market accounting for approximately 3% of the total volume in 2014.

Declining fossil fuel reserves coupled volatile propylene prices and market availability is likely to push manufacturers to develop bio-based routes. The developments of bio-based routes are likely to offer manufacturers with reduction in the production cost and hedge over glacial acrylic acid market volatility.

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Companies such as Dow, OPX Bio, Novoenzymes, Cargil,, Arkema, Novomer, Metabolix and Nippon Shokubai are currently involved in research for developing technologies for manufacturing acrylic acid from renewable resources such as sugar and glycerol.

Dow & OPX Bio and Cargill & Novoenzymes are currently developing routes to manufacture and capture bio acrylic acid market from 3-hydropropionic acid route. This process would enable to manufacture to derive glacial acrylic acid from bio based routes.

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.

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.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde

Corporate Sales, USA

Global Market Insights, Inc.

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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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