Glacial Acrylic Acid Market Size, Share and Industry Outlook, Regional Analysis, Downstream Potential Application Development, Competitive Landscape & Forecast, 2021 – 2027
Report ID: GMI221
Global glacial acrylic acid (GAA) market value is expected to grow at a considerable pace with an increased consumption in sealants, adhesives, textiles and hygiene products. Demand for GAA is soaring owing to its easier processing, performance capabilities in formulations and the ability to optimize a coating or finish. GAA is an unsaturated carboxylic acid that provides considerable upsides in a slew of acrylic and vinyl acrylic polymer-based coatings, sealants and lubricants.
Glacial acrylic acid is also used as a feedstock for synthesis and manufacturing super absorbent polymers. Superabsorbent polymers and detergent polymers are witnessing a strong growth, particularly in baby diapers. GAA market value from the superabsorbent polymer segment will experience an upward growth trajectory during the 2021-2027 forecast period.
Superabsorbent polymers (SAP) have found immense popularity in baby diapers and other hygiene products as they can absorb and retain large volumes of aqueous or liquid solutions. Production of SAP is growing with the exponential rise in population. The water-absorbing attributes of SAP will make them immensely sought-after in adult incontinence products, feminine hygiene products and gardening applications.
The coating application segment will garner an appreciable gain in the next few years. Prominently, GAA has amassed huge popularity as an additive in coatings, adhesives and organic chemicals. Notably, its application as a chemical intermediate to produce other monomers to be used as an ingredient in coatings has augured well for the industry. It is worth noting that GAA is also used in a slew of esters for specialist applications, including drilling fluids, water treatment chemicals and mineral processing.
In terms of the regional landscape, North America glacial acrylic acid market share is expected to surge with growing application in personal care & hygiene, water treatment and chemical industries. Notably, manufacturers have upped investments in GAA ingredients in the wake of demand for adult incontinence products in the U.S. Adult incontinence products have gained traction in hospitals and nursing homes in American hospitals. Leading companies are developing bio-based acrylic acid to boost its commercialization.
Companies offering GAA products will look to expand their footholds in China and India with the rising trends for personal hygiene. The burgeoning infant population in the emerging countries will fare well for the market participants in the region. Further, rising construction activities are expected to foster APAC glacial acrylic acid market share through 2027.
Key vendors in the global glacial acid industry are Dow Chemical, Nippon Shokubai, BASF, LG Chemical, Arkema, Shanghai Huayi, Shenyang Chemical, Singapore Acrylics and Sinopec, among others. Companies are developing products and partnering with other businesses to strengthen their market share. LG Chemical joined hands with Archer Daniels Midland Company (ADM) in September 2019 to create biobased acrylic acid. It will be used in the manufacturing of superabsorbent polymers required for making hygiene products, such as diapers. The collaboration will see LG Chemicals and ADM jointly work toward the commercial production of a 100% biobased acrylic acid.
COVID-19 crisis and its impact on glacial acrylic acid industry forecast
The influence of COVID-19 on the GAA market forecast will be pronounced given the impact the pandemic has had on the manufacturing sector as well as the personal care sector. In terms of the production, the lockdown restrictions worldwide have impacted the supply chain and affected the efficiency of businesses owing to lack of workforce, lowering the use of adhesives, coatings and surfactants.
However, the demand for materials like super absorbent polymers can be expected to remain strong due to a higher need for medical and hygiene products in hospitals during the coronavirus pandemic, driving GAA demand. SAPs are used in making wipes as well, a product category which saw increased consumption during the crisis. The overall glacial acrylic acid industry forecast will depend on the recovery of other industries after restrictions are lifted, as well as the consistent production of hygiene and personal care products.
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