Acrylic Acids & Esters Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

Acrylic Acids & Esters Market Size

Acrylic Acids & Esters Market size is projected to expand at robust CAGR from 2024 to 2032, due to increasing demand in applications like adhesives, paints, and coatings. With robust growth in construction and infrastructure sectors across the globe, the need for adhesives and coatings is significantly rising. The expanding need for personal hygiene products, especially in China with the growing infant population and rising disposable incomes will further boost the uptake of acrylic acids and esters in diverse applications. However, the volatile raw material prices, the adverse effects associated with production processes, and the potential health hazards linked to exposure to certain esters may hinder the market expansion to some extent.
 

Acrylic Acids & Esters Market Trends

The growing shift towards bio-based and sustainable derivatives due to the changing consumer preferences will escalate the demand for acrylic acids & esters. Of late, the surge in the number of environmental regulations is driving the rising popularity of water-based coatings, adhesives, and sealants. Moreover, the growing emphasis on product customization is leading to technological advancements in production processes and applications. The increasing R&D for enhancing product efficiency and versatility along with the surge in demand for superabsorbent polymers in personal hygiene products will also shape the market growth.
 

Acrylic Acids & Esters Market Analysis

The industry share from the methyl acrylate derivative segment is anticipated to rise at commendable CAGR from 2024 to 2032, due to versatile application scope in adhesives, coatings, and textiles. The rising demand for paints owing to the growing construction activities is increasing the appeal of various acrylates. The strong ability of methyl acrylate to enhance product performance, adhesion properties, and durability will further favor the segment growth.
 

Acrylic acids & esters market value from the paints and coatings application segment is estimated to rise at a robust pace through 2032, owing to the increasing demand for high-performance coatings. Acrylic acid enhances the quality of paints for providing excellent adhesion, durability, and weather resistance. The rising growth of the construction and automotive industries across the globe will also fuel the segment growth.
 

Regionally, the Asia Pacific acrylic acid & esters market is projected to expand at substantial CAGR from 2024 to 2032. This is due to the high demand for adhesives, paints, and coatings led by the increased investments in construction and infrastructure sectors. For instance, in April 2022, Wanhua Chemical, a major petrochemical producer in China, invested USD 3.6 billion for constructing a chemical complex in China by 2024. The facility is set to produce various chemicals, including propylene oxide, polyether polyols, acrylic acid, polypropylene, and others. Moreover, the substantial use of personal hygiene products, owing to the presence of large infant population and rising disposable incomes will drive the regional market expansion.
 

Acrylic Acids & Esters Market Share

Leading firms operating in the acrylic acids & esters industry are engaged in multiple development strategies, such as technology enhancements and capacity expansions as well as collaboration initiatives to scale their revenues. For instance, LG Chem LTD, is significantly contributing to the development of process technologies for the oil &and gas industry.

Some of the major acrylic acids & esters companies are:

• Arkema
• BASF
• LG Chem LTD.
• SunVic Chemical Holdings Limited
• Dow Chemical Company
• Myriant Corporation
• Momentive Specialty Chemicals

Acrylic Acids & Esters Industry News:

• In October 2023, Lummus Technology, a leading energy provider inked an agreement with Air Liquide Engineering & Construction to acquire the licensing and marketing rights for ester-grade acrylic acid technology as well as light and heavy acrylates process technology.

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