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Acrylic acid is a colorless, organic compound with acrid odor. It is a type of unsaturated carboxylic acid with a vinyl group attached. Compounds derived from acrylic acid are known as derivatives of acrylic acid which mainly include acrylates, methacrylate, acrylic esters, acrylic polymer, and others. these derivatives are significant feedstock compounds for manufacturing of industrial and consumer products. Increasing research in sustainable production method of acrylic acid & derivatives from ethylene and CO2 shall serve as an opportunity for market growth.
Increasing demand for water-resistant and water-borne coatings and adhesives is expected to drive the market demand. Additionally, increasing use of acrylic monomers in plastic manufacturing as plastic additives as well as monomers shall boost the market growth. Increasing demand for superabsorbent polymers shall positively impact market.
However, acrylic acid, the main parent chemical of derivatives is a highly corrosive compound that can potentially damage eyes and respiratory tract. This is expected to hinder the market growth.
Key Market Driver -
Growing demand from coatings and adhesives application areas.
Key Market Restraint -
Toxic and corrosive nature of acrylic acid.
Based on type the market is segmented into acrylic esters and acrylic polymers. Based on application, market is segmented into surface coatings, adhesives & sealants, plastic additives, detergents, textiles, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The global acrylic acid derivatives market consists of global & regional players operating. Some of the key players in the market include Arkema, BASF, Mitsubishi, Evonik, Dow chemicals, Nippon Shokubai, and others.
The acrylic acid derivatives market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to hold the prime share in market. China is the largest manufacturer for chemicals and polymers. Additionally, increasing demand for paints and coatings from India and China shall drive regional growth. North America is expected to hold significant share due to presence of ample manufacturers. Europe is expected to show considerable growth due to the demand for water-borne coatings and adhesives. Latin America and Middle East & Africa shall exhibit sluggish growth by the end of forecast period.
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