Acrylic Acid Market By Derivative (Acrylic Polymer, Acrylic Esters), By Formulation (Solvent-borne Coating, Water-borne Coating, Solvent less Coating, Radiation Curable Coating), By End-use (Surface Coating, Adhesive & Sealant, Plastic Additive, Textile, Personal Care Products, Surface Coatings Industry), and By Region; Global Insights & Forecast (2024 - 2030)

As per Intent Market Research, the Acrylic Acid Market was valued at USD 11.1 billion in 2023-e and will surpass USD 13.5 billion by 2030; growing at a CAGR of 2.8% during 2024 - 2030.

The acrylic acid market is poised for substantial growth during the forecast period of 2024-2030, driven by the increasing demand for acrylic acid derivatives such as superabsorbent polymers (SAP), paints and coatings, adhesives, and detergents. Acrylic acid is a key raw material used in various industrial applications, particularly in the production of superabsorbent materials, which find extensive use in diapers, adult incontinence products, and feminine hygiene products. The growing demand for such hygiene products, combined with the expanding use of acrylic acid in the automotive, construction, and personal care industries, is expected to fuel market growth.

Moreover, advancements in production technologies, along with an increasing shift toward bio-based acrylic acid, are further propelling the market forward. The market is projected to grow at a robust CAGR over the forecast period, supported by the rising industrialization in emerging economies, increasing urbanization, and the growing demand for water-based acrylic acid applications. This market's expansion will also be driven by the push for more sustainable production methods and eco-friendly applications, which are in line with the global shift toward green chemistry and renewable feedstocks.

Superabsorbent Polymers (SAP) Segment is Largest Owing to Growing Demand for Hygiene Products

The superabsorbent polymers (SAP) segment is the largest within the acrylic acid market, driven by the growing demand for hygiene products such as diapers, adult incontinence products, and feminine hygiene products. SAP, which is a key derivative of acrylic acid, can absorb and retain large amounts of liquid relative to its own mass, making it essential in the production of disposable hygiene products. The global increase in the birth rate, along with a growing aging population, is significantly boosting the demand for diapers and incontinence products, especially in regions like Asia-Pacific and North America.

In addition, SAP is gaining traction in other applications such as agricultural products, where it is used to improve water retention in soil. The expanding demand for SAP in the healthcare and personal care industries, particularly in emerging markets, is expected to maintain the dominance of this segment. As consumer awareness regarding hygiene products rises, and as manufacturers focus on improving product performance, the SAP segment will continue to lead the acrylic acid market throughout the forecast period.

Paints and Coatings Segment is Fastest Growing Owing to Demand for Water-Based Products

The paints and coatings segment is the fastest-growing subsegment in the acrylic acid market, owing to the increasing demand for water-based and environmentally friendly coatings. Acrylic acid derivatives, such as acrylic emulsions, are widely used in the production of paints and coatings, as they offer excellent durability, adhesion, and resistance to weathering. The shift towards low-VOC (volatile organic compound) and water-based paints, driven by stringent environmental regulations and consumer preference for eco-friendly products, is a key factor fueling the growth of this subsegment.

The construction industry, which consumes a significant portion of the world's paint and coatings, is experiencing rapid expansion, particularly in emerging markets such as Asia-Pacific and Latin America. The demand for paints and coatings for residential and commercial buildings, infrastructure projects, and automobiles is rising, further propelling the demand for acrylic acid in this segment. The growing focus on sustainable and non-toxic building materials will continue to boost the paints and coatings segment, making it the fastest-growing area of the acrylic acid market.

Asia-Pacific Region is Largest Owing to High Industrial Demand and Emerging Markets

The Asia-Pacific region is the largest and fastest-growing market for acrylic acid, owing to rapid industrialization, increasing urbanization, and rising demand for consumer products in countries like China, India, and Southeast Asia. The region's significant share of the global acrylic acid market can be attributed to its large-scale production of acrylic acid and its dominant role in industries such as automotive, construction, and textiles. The demand for superabsorbent polymers (SAP) in the region, particularly for diapers and adult incontinence products, further contributes to the market's growth.

In addition to the growing demand for hygiene products, the expansion of the construction and paints and coatings sectors in Asia-Pacific is also driving the regional market. Governments in countries like China and India are investing heavily in infrastructure development, contributing to the increasing demand for acrylic acid in construction applications. With a large consumer base, the region is expected to maintain its dominance in the acrylic acid market, with a high growth rate throughout the forecast period, particularly as manufacturers in Asia-Pacific focus on sustainable production methods.

Competitive Landscape and Leading Companies

The global acrylic acid market is highly competitive, with several key players focusing on innovation, capacity expansion, and sustainability to maintain their market leadership. Major companies in the market include BASF SE, Dow Chemical Company, LG Chem Ltd., **SAB

IC,** Evonik Industries, and Mitsubishi Chemical Corporation. These companies dominate the acrylic acid market through strategic mergers and acquisitions, partnerships, and investments in research and development. For instance, BASF SE and Dow Chemical are major players in the production of acrylic acid and its derivatives, including superabsorbent polymers (SAP), which have applications in hygiene products. Their advanced production techniques, such as the Propylene Oxide (PO)-based route, allow them to maintain a competitive edge in terms of cost efficiency and product quality.

As sustainability becomes a central theme across industries, these companies are increasingly focused on producing bio-based acrylic acid from renewable resources. For example, Dow Chemical has committed to transitioning toward sustainable production methods, investing in bio-based and low-carbon technologies. The market is also seeing a rise in new entrants, particularly in emerging economies, as local players attempt to meet the growing demand for acrylic acid and its derivatives. These regional players are increasing production capacity and focusing on local customer needs to capture market share in the rapidly expanding markets of Asia-Pacific, Latin America, and the Middle East.

The competition is also intensifying as manufacturers explore new applications for acrylic acid and its derivatives, ranging from construction chemicals to medical products. Companies are focusing on enhancing the performance properties of acrylic acid-based products to cater to industries that require high-quality, durable materials. Strategic expansions in production facilities and technological advancements, combined with a focus on cost competitiveness, are key strategies for sustaining growth in this highly dynamic market.

Report Objectives

The report will help you answer some of the most critical questions in the Acrylic Acid Market. A few of them are as follows:

1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
2. What are the prevailing technology trends in the acrylic acid market?
3. What is the size of the acrylic acid market based on segments, sub-segments, and regions?
4. What is the size of different market segments across key regions: North America, Europe, Asia Pacific, Latin America, Middle East & Africa?
5. What are the market opportunities for stakeholders after analyzing key market trends?
6. Who are the leading market players and what are their market share and core competencies?
7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope: