Global acrylic acid market growing at CAGR of 7.6% from 2014 to 2020

Acrylic acid is an organic compound having characteristic tart or acrid smell. A large portion of acrylic acid is used as a feedstock for obtaining acrylate esters. Acrylate esters have a broad spectrum of application in paper treatment, plastic additives, textiles, sealants, adhesives, and surface coatings. Industries are developing and commercializing processes for producing acrylic acid from petrochemicals. Due to the rising price of oil globally, manufacturers are using bio-based techniques to produce acrylic acid and acrylates from renewable resources such as glycerol, sugar, etc. Renewable feedstock shows cost competitive outcomes as compared to petrochemical routes. The global acrylic acid market was valued at US$11,006.6 mln in 2013, and it is estimated to reach US$18,824.0 mln by 2020, growing at a CAGR of 7.6% during the forecast period (from 2014 to 2020). The global consumption of acrylic acid is anticipated to reach 8,169.0 kilo tons by 2020, as per bigmarketresearch.com. The factors that are driving the growth of the market are soaring demand for superabsorbent polymers, widespread adoption of acrylic-based products in emerging economies such as Asia Pacific and growing industries such as adhesives and sealants. Stringent government regulations are imposed on the use of acrylic acid due to increasing environmental concerns in regions such as North America, Europe, etc., to protect the environment and prevent occupational exposure of acrylic acid. Due to the potential restraints, the growth of the acrylic acid market is restricted. Producers of acrylic acid are focusing on research and development to find the bio-based roots for the production of acrylic acid. Moreover, commercialization of bio-based acrylic acid and saturated demand for PMMA resins in various industries would open doors for investors to invest in acrylic acid market; thus, creating lot of opportunities for the growth of acrylic acid market in the near future. Acrylic acid has been in production for nearly 30 years. Demand for acrylic acid is increasing year on year due to its various end users in superabsorbent, adhesive, surface coating, etc. Apart from this, many new applications emerged due to commercialization of the manufacturing techniques of bio-acrylic acid. Acrylic acid market has huge potential in the future, as it would create a range of applications, namely in industries such as surfactants industry, surface coatings industry, adhesives & sealants industry, plastic additives & co-monomers, etc. Thus, understanding of the acrylic acid market would provide intelligence about the entire market segment and it would thus, help the stakeholders to make strategic decisions. Acrylic acid derivative type market is segmented into acrylic esters, acrylic polymers and other derivatives. Acrylic esters is and would continue to lead the overall acrylic acid derivative types market throughout 2020 in terms of revenue generation. Acrylic polymers segment is anticipated to be the fastest growing segment during the forecast period. Acrylic Polymers are widely used for coatings binders, gun turrets, bomber noses, aircraft canopies, cosmetic industry, etc. Acrylic polymers is popular for its stability, superior technology and chemical purity due to which it is used in the applications where there is a need for resistance to aging & weathering, transparency and color stability. These factors are eliciting the growth of acrylic polymers. However, due to growing adoption of acrylic esters for producing adhesives, water-based paints, synthetic rubbers and synthetic resins, it holds tremendous potential for the growth of acrylic acid market during the forecast period. Acrylic acid end user market is segmented into diapers, surface coating, adhesives and sealants, plastic additive industry, water treatment, textiles and surfactants. Currently, acrylic acid is majorly consumed in manufacturing diapers; this segment would dominate the global acrylic acid market through 2020. Surfactants industry is the fastest growing segment, growing at a CAGR of 8.6% during the forecast period. Acrylic based surfactants are used as binders that enhance the flexibility, gloss and durability of the coatings. Moreover, acrylic acid increases the shelf life of paints; improve the stability of freeze-thaw and mechanical stability. These factors are driving the demand for acrylic acid in surfactants industry. Acrylic acid geography market is segmented into North America, Europe, Asia Pacific and LAMEA. In 2013, Asia-Pacific was the largest revenue-generating region and it is forecast that the region would continue to dominate the revenue streams through 2020. LAMEA is the fastest growing region that is growing at a CAGR of 9.3% during the forecast period. LAMEA brings lot of opportunities for the growth of the acrylic acid market. The factors that are driving the growth of the market in the region are the widespread adoption of renewable roots for producing acrylic acid and growing industries such as coatings, sealants, adhesive, etc. Moreover, LAMEA has a lucrative market for the production of crude acrylic acid due to the presence of world's largest petrochemicals sites. These factors result in driving the demand for acrylic acid in LAMEA.