Global Glacial Acrylic Acid Market Overview
The key driver impacting the glacial acrylic acid market is the growing manufacturing of detergents and polyacrylates. Increasing hygiene awareness among consumers and the aging population plays a vital role in the demand for these products. For instance, as per the Chemical and Engineering News, online retail sales of detergents reached $2.1 trillion globally in 2017 and are projected to reach another $1.7 trillion in sales by 2021—an 81% gain in just four years. The online sales for detergents will represent 14% of all retail sales.
Moreover, an increase in demand for superabsorbent polymers (SAP), together with favorable government norms for SAP application in agricultural purposes, is also estimated to be a vital determinant adding growth to the market.
According to Value Market Research, the global glacial acrylic acid market was valued at around USD 9.65 billion in 2019 and is estimated to grow at a CAGR of about 10.75% during the forecast period of 2020-2026.
In addition to this, the increasing sales of baby and feminine hygiene products are also predictable to enhance market demand in the forecast period. For instance, As per the Real Diapers Association report, around 27.4 billion disposable diapers are used every year in the U.S. Also, Disposable diapers represent about 4% of solid waste and are the third-largest single consumer item in landfills. In a house with a child in diapers, disposables account for 50% of household waste.
However, the depleting fossil fuel reserves coupled with fluctuating fuel prices are shifting the manufacturer’s attention to develop bio-based routes that may hamper the global glacial acrylic acid industry in the long run. The bio-based courses offer high production costs, and raw material shortage also negatively impacts market growth in the coming years. The current industry trend, such as the manufacturing of homo, co, and tertiary polymers used as a sequestrant in numerous applications, is expected to provide beneficial market opportunities for the key players in the forecast years.
The glacial acetic acid markets are vast, with a large number of global and local players. The key leaders follow various strategies to strengthen their market position, such as increasing product portfolio, expansions, mergers, acquisitions, and product innovations to enlarge their market share at the global level. The report studies major key players of the global glacial acrylic acid market in detail, covering the company profile, product list, and financial information. The companies included in the report are BASF, DowDuPont, Nippon Shokubai, Arkema, LG Chem, Mitsubishi Chemical, Idemitsu Kosan, Hexion, Sasol, Formosa Plastics.
In this market research report, the market is segmented by purity, application, and region.
Analysis by Purity
By purity, the report is categorized into glacial acrylic acid 100% and glacial acrylic acid 80%.
Analysis by Application
By applications, the report is categorized into superabsorbent polymers (SAP), polyacrylates, detergent builders, etc. Superabsorbent polymers dominated the application segment, with over 70% share in 2019. The rising baby population and awareness related to feminine hygiene are projected to accelerate the growth of the segment. Glacial acrylic acid is utilized in superabsorbent polymers (SAP) for disposable baby diapers and sanitary napkins. Polyacrylates and detergent co-builders are projected to witness moderate growth with trends in high-performance product manufacturing.
Analysis by Region
In the regional outlook of the global glacial acetic acid market, Asia Pacific ruled the worldwide market, with over 40% share in 2019, and is evaluated to expand faster during the forecast timeframe. Asia Pacific Glacial acrylic acid market has been the most significant market globally, with China ruling the regional interest. China is additionally liable to observe ascend in glacial acrylic acid production to meet the end-client industry demand. India, South Korea, Indonesia, and Thailand are other prominent areas to witness a surge. North America and Europe also witness spurring demand for glacial acrylic acid.
Market Segmentation covered in the Report:
By Purity
- Glacial acrylic acid 100%
- Glacial acrylic acid 80%
By Application
- Super Absorbent Polymers (SAP)
- For Polyacrylates
- Detergent Cobuilders
- Others
By Region
- North America
- Europe
- the Asia Pacific
- Latin America
- The Middle East and Africa
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