Glacial Acrylic Acid Market is expected to reach US$ 3,351.24 million by 2028

Published Date: 25 Jun 2021

Report : Glacial Acrylic Acid Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Nappies; Adult & Feminine Hygiene; Detergents; Adhesives, Coatings & Sealants; Water Treatment; and Others)

Wide Range of Applications of Glacial Acrylic Acid to Escalate Market Growth During 2021–2028

 

According to the latest market study on Glacial Acrylic Acid Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Nappies; Adult & Feminine Hygiene; Detergents; Adhesives, Coatings & Sealants; Water Treatment; and Others),” the market was valued at US$ 2,607.67 million in 2021 and is projected to reach US$ 3,351.24 million by 2028; it is expected to grow at a CAGR of 3.6% from 2021 to 2028. The report highlights key driving factors and prominent market players along with their developments in the market.

 

Glacial acrylic acid is an unsaturated carboxylic acid co-monomer. It readily copolymerizes with acrylic and methacrylic esters, ethylene, vinyl acetate, styrene, butadiene, acrylonitrile, vinyl chloride, maleic esters, and vinylidene chloride. Glacial acrylic acid is majorly used as a building block for the production of acid-functional and crosslinked acrylic copolymers and polyacrylic acids. The other name of glacial acrylic acid is 2-propenoic acid.

Glacial acrylic acid is utilized in the composition of polymers and acrylate esters and as a feedstock for chemical syntheses. Glacial acrylic acid has various properties such as good weathering, flexibility, adhesion, hardness, and resistance to abrasion. The acid is utilized as an additive in various copolymer-based finishes, adhesives, coatings, inks, lubricants, and plastics. It is also used in a range of esters for drilling fluids, water treatment chemicals, detergent builders, mineral processing chemicals, and superabsorbent polymers. As a superabsorbent polymer, glacial acrylic acid is used to produce diapers and other hygiene products. Also, the acid can be copolymerized with acrylamides that act as a flocculant in water purification. Moreover, glacial acrylic acid finds applications in several other end-products such as leather, textile, floor polish, scale inhibitors, plastics, hair styling, finishing products, paints, dispersants, vehicle paint, and thickeners. Thus, the wide application of glacial acrylic acid is anticipated to bolster its demand in end-use industries such as nappies; adult & feminine hygiene; detergents; adhesives, coatings & sealants; and water treatment during the forecast period.

The ongoing COVID-19 pandemic has drastically altered the status of the glacial acrylic acid market and has negatively impacted its growth. The outbreak has declined operational efficiency and interrupted the value chains, owing to the sudden closure of national and international boundaries, thereby creating revenue loss and damage. The disruptions in value chain have restricted the supply of raw material, which, in turn, is hindering the growth of the market and affecting the development of the end-use industries. However, as the economies are planning to revive their operations, the demand for glacial acrylic acid is expected to rise globally in coming months. With the growing consciousness toward sustainability and diversification of application bases in post-pandemic times, the demand for glacial acrylic acid is expected to take huge leaps in the future. According to International Finance Corporation, the COVID-19 outbreak is forecasted to slow down investments in the water sector globally. A survey by Global Water Leaders Group predicted that industrial water demand will fall by approximately 27% due to the outbreak. Further, the Global Water Leaders Group stated that water and wastewater utilities worldwide are expected to see revenue collection reductions of 15% on average due to the COVID-19 crisis. Thus, the water sector is anticipated to witness decline in the demand for water treatment chemicals, which would negatively impact the glacial acrylic acid market. Nevertheless, effective measures taken by associations—such as Industrial Fabrics Association International—backed by positive government initiatives to safeguard their frontline health care workers are expected to boost the textile industry, which would bolster the demand for glacial acrylic acid in coming years.

 

The Dow Chemical Company; Arkema; BASF SE; Sasol; Tasnee; HAITUNG CHEMICALS CO., LTD.; Mitsubishi Chemical Corporation; NIPPON SHOKUBAI CO., LTD.; Formosa Plastics Corporation; and BASF PETRONAS Chemicals Sdn. Bhd are among the well-established players in the global glacial acrylic acid market. Companies in this market have been continuously focusing on strategies such as product developments, plant expansions, and mergers and acquisitions to expand their footprint worldwide and fulfill the growing demand of the market. For instance, in 2019, Arkema successfully brought a new 90,000-ton per year acrylic acid reactor at its Clear Lake, Texas site. The new reactor, which is equipped with the latest production technologies, replaces two decommissioned reactors of 45,000 tons each. The investment of approximately US$ 90 million positions Clear Lake as one of the most competitive acrylic acid sites in the US. This new capacity will enable the Group to promote the growth of its North American customers in markets such as paints and coatings, superabsorbents, adhesives, and polymers for water treatment and enhanced oil & gas recovery. In addition, this expansion consolidates Arkema’s position as the second-largest producer of acrylic acid in the region.

 

Geographic Overview of Glacial Acrylic Acid Market

Geographic Overview of Glacial Acrylic Acid Market

 

The report segments the global glacial acrylic acid market as follows:


Glacial Acrylic Acid Market, by Application

  • Nappies
  • Adult & Feminine Hygiene
  • Detergents
  • Adhesives, Coatings & Sealants
  • Water Treatment
  • Others

 

Glacial Acrylic Acid Market, by Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

 
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