Market Size

The Acrylic Acid Market SizeAcrylic Acid Market was valued at approximately 8.44 million metric tons (MMT) in 2024 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.10% from 2025 to 2034, reaching an estimated 13.88 MMT by 2034. This growth is primarily driven by the increasing demand for acrylic acid derivatives across a range of industries, particularly in superabsorbent polymers (SAPs), adhesives, paints, coatings, and textiles. The demand for SAPs, which use acrylic acid as a key raw material, is on the rise due to the growing need for personal hygiene products like diapers, sanitary items, and adult incontinence products, especially with an aging global population.

Additionally, acrylic acid-based products are widely used in the automotive and construction sectors, where they are used in adhesives, sealants, and coatings due to their excellent bonding properties and resistance to environmental factors. The market is also benefiting from technological innovations that improve the efficiency of acrylic acid production processes, as well as the development of eco-friendly alternatives. Emerging economies, particularly in Asia-Pacific and Latin America, are contributing significantly to market growth as industrialization and urbanization increase the demand for acrylic acid in various applications. Furthermore, there is a growing trend toward the production of bio-based acrylic acid, which is expected to further drive market growth as industries shift toward more sustainable and environmentally friendly solutions. With all these factors combined, the acrylic acid market is poised for continued expansion in the coming years.

Market Trends

Several key trends are shaping the acrylic acid market:

1. Shift Towards Bio-Based Acrylic Acid: Companies are investing in sustainable production methods, focusing on bio-based acrylic acid derived from renewable resources to reduce environmental impact.

2. Technological Advancements: Innovations in production processes aim to enhance efficiency and reduce costs, with a focus on developing high-performance acrylic acid derivatives for specialized applications.

3. Growing Demand in Emerging Economies: Rapid industrialization and urbanization in regions like Asia-Pacific are increasing the demand for acrylic acid in various applications, including construction and automotive industries.

4. Expansion of Superabsorbent Polymers (SAPs) Market: The rising use of SAPs in personal hygiene products, such as diapers and adult incontinence products, is boosting the demand for acrylic acid.

5. Volatility in Raw Material Prices: Fluctuations in crude oil prices impact the cost structure of acrylic acid production, influencing market dynamics and pricing strategies.

Market Growth

The acrylic acid market's growth is influenced by several factors:

1. Rising Demand for Superabsorbent Polymers: The increasing use of SAPs in hygiene products drives the demand for acrylic acid, as it is a key raw material in SAP production.

2. Expansion in Construction and Automotive Sectors: Acrylic acid-based products, such as adhesives and coatings, are essential in construction and automotive industries, contributing to market growth.

3. Adoption of Bio-Based Products: Growing environmental awareness and regulatory support for sustainable products are encouraging the adoption of bio-based acrylic acid, opening new market opportunities.

4. Technological Innovations: Advancements in production technologies are improving the efficiency and cost-effectiveness of acrylic acid manufacturing, making it more competitive in the market.

5. Economic Growth in Emerging Markets: Developing economies are experiencing increased industrial activities, leading to higher demand for acrylic acid in various applications.

Market Segmentation

The acrylic acid market is segmented based on derivative, application, and region:

By Application

1. Surface Coatings: Acrylic acid derivatives provide durability and resistance in paints and coatings used in automotive and construction sectors.

2. Adhesives and Sealants: Acrylate esters offer strong bonding properties, making them suitable for various adhesive applications.

3. Textiles: Acrylic acid-based polymers enhance fabric properties, including softness and absorbency.

4. Plastic Additives: Improve the performance and longevity of plastic products.

5. Water Treatment: Acrylic polymers act as flocculants and dispersants, aiding in water purification processes.

By Region

1. North America: A mature market with steady demand, particularly in adhesives and coatings industries.

2. Europe: Focus on sustainable and bio-based acrylic acid production aligns with stringent environmental regulations.

3. Asia-Pacific: Rapid industrial growth, especially in China and India, is driving significant market expansion.

4. Latin America: Emerging economies are witnessing increased demand in construction and automotive sectors.

5. Middle East & Africa: Infrastructure development and urbanization are contributing to market growth.

Key Market Players

Several major companies are prominent in the acrylic acid market, focusing on product innovation, capacity expansion, and strategic partnerships to strengthen their market positions. Key players include:

1. BASF SE: A leading chemical company investing in sustainable and bio-based acrylic acid production technologies to meet the growing demand for eco-friendly solutions.

2. Nippon Shokubai Co. Ltd.: Engaged in the production of a wide range of chemicals, including acrylic acid, and expanding its production capacities to meet global demand.

3. The Dow Chemical Company: Focuses on the production of acrylic acid and related products, emphasizing innovation and sustainability in its operations.

4. Arkema Group: Specializes in the development of advanced acrylic acid derivatives for diverse applications, focusing on environmental sustainability and technological innovation.

5. LG Chem. Ltd.: A major player in the chemical industry, producing acrylic acid and its derivatives for various applications across industries.

6. Shanghai Huayi Acrylic Acid Co., Ltd.: A key player in the Chinese market, producing acrylic acid and its esters for domestic and international markets.

7. Evonik Industries AG: Specializes in acrylic acid production and focuses on developing new derivatives to meet the demands of various industrial applications.

8. Mitsubishi Chemical Corporation: Engaged in the production of acrylic acid and is investing in sustainable production methods to reduce environmental impact.

9. Others: Additional market players include Formosa Plastics Corporation, Sasol, and Hexion Inc., contributing to global acrylic acid production and expanding their market share through capacity expansions and sustainable practices.