The regional Acrylic Acid Market forecast and report for 2022-2027 by Procurement Resource gives an extensive outlook of the the worldwide market for the commodity, evaluating the sector built on its divisions such as source, type, product, distribution channel, and key regions.
Overview of the Market
The Acrylic acid market size has reached 6.6 MMT in 2021 with a projection to grow at a size of 4.7 percent in the forecast timeframe of 2022-2027. The acrylic acid market share is likely to draw up a volume of 8.7 MMT by 2027.
It is being used increasingly used to making of the esters of acrylate and is employed in various applications like in coatings and paints. It is utilised for the finishes for the original equipment manufacturers products which includes the refinishes and automotive (OEM).
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Arcylic acid is also used as the architectural coatings and for special purpose coatings. The coating of acrylic power is introduced to be used on car bodies for the clear coats. It is also universally applicable in painting for plastics and wood.
Industrial Definition and Major Segments
It is an organic compound which have chemical formula CH₂=CHCOOH. It is a colourless liquid which has a tart and acrid smell. It is directly connected to the carboxylic acid terminus and comprise of the vinyl group. It can be miscible with alcohols, water, chloroforms, and ethers. It has molar mass of about 72.06 g/mol and density of 1.05 g/cm³ and 141 °C as the point of boiling. The vapour pressure of acrylic acid is 52 mm Hg at 20 °C. It has about 0.094 parts per million (ppm) of the odour thresholds.
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The acrylic acid market report is grouped into categories:
By Application: SAP, Acrylate Esters, and Others.
By Region: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa
Acrylic Acid Market Trends
The company will spend Around USD 3.6 billion in child by 2024 to build a chemical complex announced by Wanhua in April 2022. The complex will hence make propylene oxide, acrylic acid, polypropylene, and others.
A new tertbutyl plant of acrylate to support the increasing market of China, it includes several downstream chemical plants for the expansion of the capacity. The site is operated by the BASF-YPC Co. Ltd. On August 2021 BASF and SINOPEC both the companies decided to increase their Verbund site.
Key Market Players
The acrylic acid market key players are LG Chem, Nippon Shokubai CO., LTD., BASF SE, The Dow Chemical Company, Arkema S.A. The market report covers the investments, and acquisitions, market shares, capacities, mergers, plant turnarounds, and expansions, among other latest acrylic acid market development of these market players.
The acrylic acid market analysis studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with acrylic acid market price and demand indicators. The report also traces the market on the foundations of Porter’s Five Forces Models and SWOT.
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