Acrylate ester was the largest product segment for the market accounting for 2,864.5 kilo tons of demand in 2013. These products are extensively used in applications such as surface coating, adhesive and sealants, textiles, printing inks and plastic additives.
Further key findings from the study suggest:
Global acrylic acid demand was 5,584.2 kilo tons in 2013 and is expected to reach 8,031.1 kilo tons by 2020, growing at a CAGR of 5.4 percent from 2014 to 2020.
Asia Pacific was the largest regional market for acrylic acid with demand exceeding 2,500.0 kilo tons in 2013. In addition, Asia Pacific is expected to witness fastest growth in demand at an estimated CAGR of 6.3 percent from 2014 to 2020, owing to the increasing demand for super absorbent polymers in personal care products and presence of large acrylic adhesive industry.
Glacial acrylic acid was the second largest acrylic acid product, with revenue exceeding $6.61 billion in 2013. Glacial acrylic acid is the key raw material for the manufacturing of super absorbent polymers which are expected to gain significant market over the forecast period.
The acrylic acid market is fragmented with top five companies accounting for less than 50% of the market in 2013. The key participants include Dow Chemicals, BASF, Rohm and Haas, Formosa Plastics and Arkema SA among others.
For the purpose of this study, Grand View Research has segmented the global acrylic acid market on the basis of application, product and region:
Acrylic acid Product Outlook (Volume, Kilo tons and Revenue, USD Million, 2012 – 2020)
Glacial acrylic acid
Acrylic acid Regional Outlook, By Product (Volume, Kilo tons and Revenue, USD Million, 2012 – 2020)