In 2014, the global market for acrylic acid Market was valued USD 9.50 billion and is projected to reach USD 15.43 billion by 2022 growing at a CAGR of 6.8% from 2015 to 2022. In terms of volume in 2014 the global market for acrylic acid was 5.00 million tons and is projected to reach 7.10 million tons by 2022 growing at a CAGR of 5.0% from 2015 to 2022.
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Rising demand of acrylic acid from wide range of end userapplications such as construction, automotive and packaging sectors is one of the major factors driving the market growth. Untapped economies such as Middle East, North East Asia, Eastern Europe and Latin America offers huge growth potential. Environmental concerns and health hazards associated with acrylic acid is one of major factor inhibiting the market growth. However, commercial production ofbio based acrylic acid is one of the most promising factor which drives growth over the coming years.
The demand for acrylates is the highest of various end useapplications. Acrylatesis used in surface coating applications and isprojected to grow at a CAGR of 6.8% from 2015 to 2022 in terms of revenue. Superabsorbent polymers (SAPs) are projected to be the fastest growing segment. It is projected to grow at a CAGR of 5.3% from 2015 to 2022 in terms of volume.
In 2014, Asia Pacific is the largest as well as
Some of the major players in this market are BASF SE, Evonik Industries, Sasol Ltd, The DOW Chemical Company, Nippon Shokubai Co. Ltd., and Arkema SA among others.
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