The acrylic acid market is anticipated to register a CAGR of 4.5% during the period of 2022-2032. The acrylic acid market is anticipated to reach US$ 22.6 Billion in 2032, from US$ 14.6 Billion in 2022.
According to a recent study by Future Market Insights, the acrylic acid market is expected to reach US$ 22.6 Billion by 2032, up from US$ 14.6 Billion in 2022, expanding at a CAGR of 4.5%.
The rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market over the analysis period.
Acrylic acid-based polymers have replaced conventionally used materials in major end-use industries, such as automotive, building and construction, electronics, and others. Acrylic acid-based elastomers such as AEM (Ethylene Acrylic Elastomers), are used as an alternative to synthetic rubber in various applications, such as automotive gaskets, hoses, and others.
In addition, owing to the improved properties of AEM, such as strength, and resistance, among others, there is an increasing demand for acrylic acid from the polymer industry during the forecast period. Additionally, the rise in demand for methacrylate-based polymers for the manufacturing of lighting fixtures, glazing, automotive rear lights, and electronic displays has witnessed significant growth, which in turn, represents prominent growth in the acrylic acid market.
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Key Takeaways from the Market Study
“Increasing demand for Super Absorbent Polymers (SAP) in Sanitary Pads Application, is one of the major factors that is anticipated to propel the industry growth over the forecast period,” remarks an FMI analyst.
Competitive Landscape
Players in the global acrylic acid market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market.
Key Companies Profiled
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Some recent developments among the key players are:
Key Segments Covered In The Acrylic Acid Market Study
Acrylic Acid Market by Product:
Acrylic Acid Market by End-Use Industry:
Acrylic Acid Market by Region:
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Know More about What the Acrylic Acid Market Report Covers
Future Market Insights offers an unbiased analysis of the global Acrylic Acid Market, providing historical data for 2015-2021 and forecast statistics from 2022-2032. To understand opportunities in the Acrylic Acid Market, the market is segmented on the basis of product, and end-use industry across five major regions.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 16, 2023