Acrylic Acid Market To Reach USD 20.19 Billion By 2027

Acrylic Acid Market Forecast to Exceed USD 20.19 Billion by 2027

The rise of bio-sourced acrylic acid, coupled with increasing demand from superabsorbent polymers (SAP) and various end-user industries, is significantly propelling market growth.

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According to a recent analysis by Reports and Data, the global Acrylic Acid Market is predicted to surpass USD 20.19 billion by 2027. The booming personal care sector's demand for superabsorbent polymers is anticipated to serve as a pivotal driver for growth in the upcoming years. Moreover, the expanding application scope in the production of surfactants, coatings, and adhesives and sealants is expected to further shape market dynamics. Specifically, the increasing need for glacial acrylic acid (GAA) in superabsorbent polymer production is likely to be a key factor steering market expansion. The penetration of SAP in specialized areas such as adult incontinence, water treatment additives, and radiation-cured coatings appears poised to impact market growth positively in emerging regions like Asia Pacific as well as Central & South America.

The growth drivers for the acrylic acid market include the upsurge in demand for superabsorbent polymers, growing acceptance of acrylic-based solutions in developing areas, and the blossoming industrial segments such as adhesives and sealants. Companies are directing efforts toward designing and fabricating petrochemical technologies for acrylic acid production. In light of the globally rising oil prices, producers are increasingly adopting bio-based strategies, utilizing natural resources such as glycerol and sugar for the synthesis of this unsaturated carboxylic acid and its derivatives. The use of renewable raw materials offers cost-effective advantages compared to traditional petrochemical routes.

Given the escalating environmental concerns particularly in regions like North America and Europe, there are stringent regulations in place regarding the use of this organic compound aimed at protecting the environment and minimizing occupational hazards. Such regulations may hinder the development of the acrylic acid market. In response, manufacturers are heavily invested in research and development initiatives to explore and establish bio-based production pathways to enhance market growth.

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COVID-19 Impact Assessment on the Acrylic Acid Sector

The COVID-19 pandemic has generated a noticeable downturn in demand across the organic chemicals sector, albeit some chemical categories that are essential for healthcare and food applications have witnessed a surge in requirements. Additionally, China, being the predominant global chemical producer, experienced a substantial dip in output during the initial quarter of the pandemic, which further led to an imbalance in supply-demand dynamics. This disruption has compelled suppliers and consumers globally to negotiate fresh supply agreements amid market uncertainties.

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