Acrylic Acid Market Size, Share, Industry Trends and Forecast to 2033
This market report provides a comprehensive analysis of the Acrylic Acid industry, highlighting key trends, segmentations, and regional insights from 2023 to 2033. The report includes detailed forecasts and market sizes, helping stakeholders make informed decisions.
| Metric | Value |
|---|---|
| Study Period | 2023 - 2033 |
| 2023 Market Size | $12.00 Billion |
| CAGR (2023-2033) | 7.2% |
| 2033 Market Size | $24.53 Billion |
| Top Companies | BASF SE, Mitsubishi Chemical Corporation, Dow Chemical Company, LG Chem |
| Last Modified Date | 15 Nov 2024 |
Acrylic Acid Market Report (2023 - 2033)
Acrylic Acid Market Overview
What is the Market Size & CAGR of Acrylic Acid market in 2023-2033?
Acrylic Acid Industry Analysis
Acrylic Acid Market Segmentation and Scope
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Acrylic Acid Market Analysis Report by Region
Europe Acrylic Acid Market Report:
The European acrylic acid market is forecasted to increase from 3.55 million metric tons in 2023 to 7.25 million metric tons by 2033. Strict regulatory policies promoting sustainability and environmental protection are incentivizing manufacturers to focus on bio-based solutions.Asia Pacific Acrylic Acid Market Report:
The Asia Pacific region is poised for substantial growth, with the market expected to increase from 2.41 million metric tons in 2023 to 4.92 million metric tons by 2033. Rapid industrialization, particularly in countries like China and India, along with rising demand from the automotive and construction sectors, contributes to this growth.North America Acrylic Acid Market Report:
North America is expected to see a rise from 4.20 million metric tons in 2023 to 8.59 million metric tons in 2033. The presence of established automotive and construction industries, coupled with innovative product developments, is boosting market growth.South America Acrylic Acid Market Report:
In South America, the acrylic acid market is projected to grow from 0.81 million metric tons in 2023 to 1.66 million metric tons by 2033. Increasing investments in infrastructure projects and the adoption of eco-friendly products are driving demand in this region.Middle East & Africa Acrylic Acid Market Report:
The acrylic acid market in the Middle East and Africa is anticipated to grow from 1.03 million metric tons in 2023 to 2.10 million metric tons by 2033. This growth is driven by increasing industrial activities and a rising focus on construction and automotive industries in the region.Request a custom research report for industry.
Acrylic Acid Market Analysis By Form
Global Acrylic Acid Market, By Form Market Analysis (2023 - 2033)
The Acrylic Acid market is segmented into liquid and solid forms. In 2023, liquid acrylic acid dominates the market with a size of 10.37 million metric tons and is projected to reach 21.20 million metric tons by 2033. Solid acrylic acid, contributing 1.63 million metric tons in 2023, is expected to increase to 3.33 million metric tons by 2033. The substantial market share of liquid acrylic acid indicates its extensive use in industrial applications.
Acrylic Acid Market Analysis By Application
Global Acrylic Acid Market, By Application Market Analysis (2023 - 2033)
Applications of acrylic acid include construction, automotive, healthcare, and packaging. The construction segment is predicted to grow significantly, with a market size increasing from 5.57 million metric tons in 2023 to 11.39 million metric tons by 2033. Automotive applications also show promise, with growth from 2.45 million metric tons to 5.01 million metric tons during the same period. Healthcare and packaging sectors contribute significantly, reflecting the versatile application range of acrylic acid.
Acrylic Acid Market Analysis By End User
Global Acrylic Acid Market, By End-User Industry Market Analysis (2023 - 2033)
End-user industries for acrylic acid include construction, automotive, healthcare, electrical, and electronics. The largest segment is construction, expected to account for 46.42% of the market share in 2023 and maintain similar levels by 2033. Other industries, such as automotive and adhesives, also represent considerable shares, indicating robust demand across various sectors.
Acrylic Acid Market Analysis By Manufacturing Process
Global Acrylic Acid Market, By Manufacturing Process Market Analysis (2023 - 2033)
Acrylic acid can be produced through various processes including propylene, methanol, and bio-based processes. The propylene process dominates the market, representing a market size of 7.38 million metric tons in 2023 and projected to reach 15.09 million metric tons by 2033. The methanol process and bio-based processes contribute 2.54 million metric tons and 2.08 million metric tons respectively in 2023, with expectations for growth as green technologies gain traction.
Acrylic Acid Market Trends and Future Forecast
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Global Market Leaders and Top Companies in Acrylic Acid Industry
BASF SE:
A leading global chemical company, BASF is known for its diverse product range that includes acrylic acid, utilized in various applications like adhesives and coatings.Mitsubishi Chemical Corporation:
A prominent player in the acrylic acid market, Mitsubishi Chemical focuses on innovative production methods and sustainability initiatives to enhance its product offerings.Dow Chemical Company:
Dow is a significant manufacturer in the acrylic acid sector, providing high-performance solutions across various industries including automotive and construction.LG Chem:
LG Chem is a notable producer of acrylic acid, emphasizing cutting-edge technologies and research to advance its manufacturing processes and product quality.We're grateful to work with incredible clients.
