Acrylic Acid Market Highlights:
Acrylic Acid Market is expected to grow with the CAGR 5.14 % of more than from 2018 to 2022, and with this it is predictable to cross USD 18,315 Million by 2022.
Acrylic Acid has developed applications in the construction industry in the form of protective coatings, weathering resistance, and road making, among others which have augured well for the market players. The strong value maintained by the construction industry in the developed and developing nations are encouraging the proliferation of the market. The trend is anticipated to perpetuate over the assessment period. Additionally, the extensive demand for water-based adhesives, having acrylic acid as a key ingredient, is projected to have a positive impact on the rapid expansion of the market.
Acrylic Acid Market Key Players:
Acrylic Acid Market Includes: BASF SE, The Dow Chemical Company, Arkema SA, Evonik Industries, Nippon Shokubai Co. Ltd, Taixing Jurong Chemical Co Ltd, PJSC Sibur Holding, LG Chemicals, Shenyang Chemical Co Ltd, Mitsubishi Chemical, and Hexion Inc.
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The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
Acrylic Acid Market Segmental Analysis:
By application, the market is segmented into surface coatings, adhesive & sealants, agriculture, plastic sheets, diapers, cement modifiers, and others. Among these, the diapers segment accounted for the maximum market share in 2015 and is expected to exhibit substantial growth over the assessment period. The factors responsible for encouraging the proliferation of the segment include growing attention towards baby hygiene, increasing disposable income, and rapid urbanization.
MRFR’s report offers a detailed segmental analysis of the market based on type and application. By type, the acrylic acid market has been segmented into superabsorbent polymers, methyl acrylate, ethyl acrylate, water treatment polymers, 2-ethylhexyl acrylate, elastomers, butyl acrylate, and others. Among these, the superabsorbent polymers segment held the most significant share of the market in 2015. It is likely to retain a prominent share of the market during the forecast period thriving at a healthy CAGR. The growth is attributable to the increasing demand for the production of diapers, female hygiene products, and agricultural products.
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Acrylic Acid Market Regional Analysis:
Asia Pacific is the largest and the fastest growing industry for acrylic acid. Countries like China, India, Thailand and Indonesia are expected to grow at rapid pace due to increased spending on R&D facility along with economic development. Robust industry growth and extensive demand of acrylic acid in surface coatings and diapers is driving the regional market growth. Favourable government regulations and growing agriculture expenditure in China and India is anticipated to drive the market growth. China is one of the major construction industry in Asia Pacific. Rising infrastructural development especially for tourism and easy trading activities is likely to boost the acrylic acid market. China accounted for the largest market share of 58.00% in 2014, with a market value of USD 2,635.5 Million and is projected to grow at the highest CAGR of 5.53% during the forecast period.
With upcoming infrastructural projects such as railway tracks, metro rails as well as new wind energy farms, the country is set to witness a strong growth in the adhesives industry over the next five years. The manufacturing sector in India is still growing and adhesive industry’s growth is directly aligned with the country’s manufacturing growth. North America and European regions are facing huge competition from emerging markets. Rising production of acrylic acid owing to growing personal care demand and presence of significant players is driving the Europe acrylic acid market.
Acrylic Acid Market Competitive Analysis:
Acrylic Acid Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. Majority of the company participants in the acrylic acid market has adopted the strategy named acquisition, agreement, collaboration, expansion, investment, partnership, product launch, and regulations. As the propylene price are increasing and the supply is diminishing rapidly, companies are trying to collaborate with propylene raw material suppliers and innovating new product such as bio acrylic acid in order to avoid raw material hassles. With advanced technology and innovative products offerings, manufactures are maintaining sustainable profits across the value chain. Major companies are extending their market share through expansion and agreement with distributors to meet the global demand.
Acrylic Acid Market Table of Content to be Continue……,
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