Table of Contents
Introduction
The global acrylic acid market is poised for significant growth, with its size expected to reach USD 20.8 billion by 2033, up from USD 13.5 billion in 2023, reflecting a compound annual growth rate (CAGR) of 4.4% over the forecast period. Acrylic acid, a colorless liquid organic compound, is primarily utilized in producing acrylic polymers. It serves as a critical building block for materials like acrylic esters, superabsorbent polymers, and other derivatives, making it essential in various industries.
One of the primary growth drivers is the increasing demand for superabsorbent polymers, particularly in the hygiene products sector, which includes diapers and adult incontinence products. The versatility of acrylic acid, which allows it to polymerize easily, makes it valuable for enhancing the performance, durability, and functionality of products in paints, coatings, adhesives, textiles, and personal care products. This has led to a surge in its application across multiple industries.
The Asia-Pacific region is expected to dominate the acrylic acid market due to rapid industrialization and infrastructure development in countries such as China and India. These countries are becoming global manufacturing hubs, increasing the demand for acrylic acid in superabsorbent polymers, paints, and construction chemicals. For instance, Shanghai Huayi Group recently commissioned a new plant in China to boost acrylic acid production, addressing the growing domestic needs.
North America remains a significant market player, driven by robust demand from end-use industries like coatings, sealants, and adhesives. The region’s favorable business environment and availability of feedstock have encouraged capacity expansions by major companies. For example, during 2020-2021, Dow Chemicals increased its acrylic acid production capacity at its Texas facility, contributing to the region’s market growth.
However, the market faces challenges such as the volatility of crude oil prices, which impacts the cost of raw materials. Stringent environmental regulations also pose a challenge, as acrylic acid production and use can have health hazards. Companies are increasingly focusing on sustainability, with developments such as Arkema obtaining ISCC+ certification for its production facility in China to decarbonize its acrylic production chain.
Recent developments in the industry include the inauguration of new production facilities and strategic acquisitions aimed at expanding market reach. For instance, Nippon Shokubai’s new facility in Indonesia and BASF’s expansion in China are significant steps toward meeting the rising demand. Additionally, innovations in production technologies and increased R&D investments are expected to drive market growth further.
Market and Consumption Data Statistics
- The annual worldwide consumption of acrylic acid is projected to reach more than an estimated 8,000 kilotons by 2020.
- 48.2% of the polyacrylic acid was consumed in the United States and Canada, 31.3% in Western Europe, and 20.5% in Japan.
- The polyacrylic acid market is forecasted to grow at approximately 6.5% annually overall in the next decade.
- The percutaneous absorption of acrylic acid has also been examined in rats and mice. After application to the skin, approximately 73% of a dose of approximately 17 mg/kg bw (501 µg/cm2) was lost by evaporation.
- Of the remainder, 6% of the dose was retained on or in the skin from the site of application and 16% was exhaled as 14CO2.
Toxicity and Absorption Data Statistics
- The LD50 is 340 mg/kg (rat, oral) with the lowest recorded LD50 being 293 mg/kg (oral, rat), comparable to ethylene glycol, which is indicative of being a potent poison.
- Acrylic acid administered orally by gavage to rats (400 mg/kg) was well absorbed and rapidly and extensively metabolized, principally to exhaled 14CO2, with 83% excreted in this form in 24 h.
- About 5% of the radioactivity was recovered in the urine and 9% in the feces, with 1.3% remaining in the tissues after 72 h.
- The disposition of 14C was a function of dose: as the dose increased, less was excreted, notably as 14CO2 (65% of the dose at 4 mg/kg and 44% at 400 mg/kg), and more was retained in the tissues after 72 h (19% at 4 mg/kg and 25% at 400 mg/kg).
- Treated rats with 4, 40, or 400 mg/kg bw [2,3-14C]acrylic acid by gavage, recovered less than 14CO2, approximately the same amounts in urine and feces, and more in the tissues.
Sampling and Experimental Data Statistics
- No breakthrough onto a second tube mounted in series was observed for acrylic acid collected from a spiked atmosphere, even though 80% relative humidity air was drawn through the system for 8 hours.
- A personal sampling pump can be calibrated to within 5% of the recommended 0.1 L/min flow rate while the sampling tubes are in line.
- Glass tubes of 4 to 5 cm length with a 4-mm i.d. and a 6-mm o.d. are packed with approximately 100 mg of XAD-8 solid sorbent of 16-50 mesh size.
- In experiments, both 80% relative humidity air and relatively dry laboratory air were drawn through the tubes for up to 8 hours at a 0.1 L/min flow rate. Recoveries from the front tube averaged 99.4% for three pairs of samples in which 24, 36, or 48 L of 80% relative humidity air were drawn.
- The recently purchased lot 119 silica gel tubes are less effective in retaining acrylic acid in a humid atmosphere than the older SKC silica gel tubes, which do not have a lot number designation.
Emerging Trends
Shift Towards Bio-Based Acrylic Acid: There is a notable trend towards the production of bio-based acrylic acid. This shift is driven by the growing environmental concerns and regulatory pressures to reduce carbon footprints. Companies are investing in research and development to create sustainable alternatives to traditional petroleum-based acrylic acid. This move not only helps in addressing environmental issues but also caters to the increasing consumer demand for eco-friendly products.
Rising Demand in Emerging Economies: Emerging economies, particularly in the Asia-Pacific region, are experiencing significant growth in demand for acrylic acid. This is attributed to the expansion of end-use industries such as personal care, adhesives, and coatings. Countries like China and India are leading this demand surge, leveraging their growing industrial base and increasing consumer market.
Technological Advancements: Innovations in production technologies are enhancing the efficiency and output of acrylic acid manufacturing. For instance, new catalytic processes and improved reactor designs are being implemented to increase yield and reduce waste. These technological advancements are crucial in meeting the rising global demand and maintaining competitive advantage.
Increased Use of Superabsorbent Polymers: The demand for superabsorbent polymers, especially in the personal care industry, is significantly boosting the acrylic acid market. These polymers are essential components in products like diapers, adult incontinence products, and sanitary napkins. The growing awareness and use of personal hygiene products are driving this segment’s expansion.
Strategic Expansions and Collaborations: Major players in the acrylic acid market are engaging in strategic expansions and collaborations to strengthen their market position. For instance, BASF and SINOPEC are expanding their production capacities in China to meet the growing regional demand. Similarly, Nippon Shokubai has increased its production capabilities in Indonesia, highlighting the focus on expanding operations in high-demand regions.
Environmental and Regulatory Challenges: The market is also contending with challenges related to environmental concerns and regulatory compliance. The production of acrylic acid involves hazardous materials and emissions, prompting stricter environmental regulations. Companies are required to adopt cleaner technologies and processes to comply with these regulations, which can increase operational costs but also drive innovation towards greener solutions.
Fluctuating Raw Material Prices: The cost of raw materials used in acrylic acid production, such as propylene, is subject to fluctuations due to market dynamics and geopolitical factors. This variability can impact the overall production costs and pricing strategies within the market.
Use Cases
Personal Care Products: Acrylic acid is a primary raw material in the production of SAPs, which are extensively used in diapers, adult incontinence products, and sanitary napkins. The global market for diapers alone was valued at approximately USD 64.6 billion in 2022 and is expected to grow due to increasing awareness and usage of hygiene products.
Water Retention in Agriculture: SAPs are also used in agriculture to retain water in soil, improving crop yield. This application is crucial in regions facing water scarcity and aiming to enhance agricultural productivity.
Construction Industry: Acrylic acid is utilized in the manufacture of adhesives and sealants used in construction. The global construction adhesives market was valued at around USD 9.3 billion in 2023, with a significant portion derived from acrylic-based products. These adhesives offer strong bonding and durability, essential for modern construction needs.
Automotive Sector: In the automotive industry, acrylic-based adhesives are used for assembling parts and ensuring the durability of various components. This sector is growing steadily, with the global automotive adhesives market projected to reach USD 6.4 billion by 2028.
Decorative and Protective Coatings: Acrylic acid derivatives, such as acrylic esters, are key components in paints and coatings. The global paints and coatings market size was valued at approximately USD 160 billion in 2021 and is expected to grow, driven by increased construction and renovation activities.
Industrial Applications: These coatings are used for corrosion resistance and durability in industrial machinery and infrastructure, enhancing the lifespan and performance of equipment.
Synthetic Fibers: Acrylic acid is used in producing synthetic fibers that are woven into fabrics for clothing, upholstery, and industrial textiles. The global market for synthetic fibers is projected to reach USD 172.4 billion by 2027, reflecting the increasing demand for durable and affordable textile materials.
Water Purification: Acrylic acid is employed in the production of polymers used in water treatment processes. These polymers help in flocculating and removing impurities from water, crucial for both municipal and industrial water treatment systems. The global water treatment chemicals market is expected to grow to USD 69.9 billion by 2025, with acrylic acid derivatives playing a significant role.
Barrier Resins: Acrylic acid is used to produce barrier resins that provide excellent protection against moisture and oxygen, essential for food packaging. The global food packaging market is expected to reach USD 423.6 billion by 2027, with increasing demand for durable and safe packaging materials.
Hydrogels: Acrylic acid-based hydrogels are used in various medical applications, including wound dressings and drug delivery systems. These hydrogels can absorb significant amounts of water, providing a moist environment conducive to healing.
Major Challenges
Toxicity and Safety Issues: Acrylic acid is known for its potential health hazards, including skin irritation and respiratory problems upon exposure. These concerns necessitate stringent handling procedures and safety measures, increasing operational costs. Moreover, its production process involves hazardous emissions that contribute to environmental pollution. Regulatory bodies in various regions have imposed strict regulations to control these emissions, which can impact production efficiency and cost.
Dependence on Petrochemical Feedstocks: Acrylic acid is primarily derived from propylene, a byproduct of petroleum refining. The price of propylene is highly volatile, influenced by fluctuations in crude oil prices. This volatility can lead to unpredictable production costs, affecting profit margins for manufacturers. For instance, the price of crude oil, which directly affects propylene prices, has seen significant swings over the past decade, leading to cost uncertainties for acrylic acid producers.
Market Shift Towards Sustainability: With increasing environmental awareness, there is a growing demand for bio-based acrylic acid alternatives. While this shift presents an opportunity for innovation, it also poses a challenge for traditional acrylic acid producers. Developing bio-based acrylic acid requires significant investment in research and development, and scaling up production to meet market demand can be costly and technically challenging.
Impact on Supply Chains: The acrylic acid market is susceptible to global economic and geopolitical factors that can disrupt supply chains. Trade tensions, tariffs, and economic sanctions can affect the availability and cost of raw materials, as well as market access for finished products. For instance, recent geopolitical tensions have led to disruptions in global trade routes, affecting the supply of essential chemicals and raw materials needed for acrylic acid production.
Market Growth Opportunities
Industrial Growth in Asia-Pacific: Emerging economies like China and India are experiencing rapid industrialization, which drives the demand for acrylic acid in various applications such as adhesives, paints, and coatings. The Asia-Pacific region is poised to dominate the global acrylic acid market, accounting for a significant share due to the rise in construction projects and industrial activities.
Sustainability and Environmental Concerns: With the growing emphasis on sustainable and eco-friendly products, there is a notable shift towards bio-based acrylic acid derived from renewable resources. Investments in research and development of bio-based alternatives address regulatory requirements and consumer preferences for green products, opening new markets and reducing environmental impact.
Superabsorbent Polymers (SAPs): Acrylic acid is a key component in the production of SAPs, which are extensively used in personal care products such as diapers, adult incontinence products, and sanitary napkins. The increasing global population and rising awareness about personal hygiene are driving the demand for these products, which in turn boosts the demand for acrylic acid.
Innovative Applications in Construction and Automotive: Acrylic acid plays a crucial role in the production of adhesives and sealants used in the construction and automotive industries. Innovations that enhance adhesive performance and durability are expanding the use of acrylic acid. The global market for construction adhesives, for instance, is projected to grow significantly, driven by infrastructure development and renovation projects.
Environmental Regulations and Clean Water Initiatives: Stricter environmental regulations and a growing focus on clean water access are increasing the demand for effective water treatment solutions. Acrylic acid derivatives are used in water treatment chemicals to remove impurities and improve water quality. This presents a significant growth opportunity for the acrylic acid market as regulations become more stringent.
Hydrogel Applications: Acrylic acid-based hydrogels are increasingly used in medical applications, including wound care and drug delivery systems. The healthcare sector’s continuous innovations and the rising demand for advanced medical materials provide a promising growth area for acrylic acid applications.
Recent Developments
In March 2023, BASF broke ground on a new production complex at its Zhanjiang Verbund site in China. This new facility, expected to be operational by 2025, will include plants for glacial acrylic acid (GAA), butyl acrylate (BA), and 2-ethylhexyl acrylate (2-EHA). The complex will have an annual production capacity of approximately 400,000 metric tons of BA and 100,000 metric tons of 2-EHA, aimed at serving the fast-growing acrylic acid value chain in China and the broader Asia-Pacific region.
In 2023, Arkema made significant strides in its acrylic acid sector, focusing on enhancing its production capabilities and sustainability efforts. In January, Arkema achieved ISCC+ certification for its acrylic acid and ester production facility in Taixing, Jiangsu Province, China. This certification underscores the company’s commitment to decarbonizing its production chain and supporting the development of bio-based materials. This facility, the first of its kind in China to receive such certification, plays a crucial role in providing high-performance, sustainable solutions to the regional market.
In May 2023, Nippon Shokubai Co., Ltd. inaugurated a new acrylic acid facility in Cilegon, Banten, Indonesia, with an annual production capacity of 100,000 metric tons. This new plant started commercial operations in April 2023 and increased the company’s total acrylic acid production capacity in Indonesia to 240,000 metric tons per year. The investment of approximately USD 200 million reflects Nippon Shokubai’s commitment to meeting the growing global demand for acrylic acid and superabsorbent polymers, particularly driven by the rising populations of infants and the elderly. Additionally, in May 2024, Nippon Shokubai’s Indonesian subsidiary achieved ISCC PLUS certification for manufacturing halal-certified and biomass-derived acrylic acid and acrylates, further enhancing their sustainable production capabilities.
In 2023, LG Chem significantly bolstered its position in the acrylic acid market through strategic investments and expansions. In the first quarter of 2023, LG Chem announced a $278 million investment to expand its acrylic acid and superabsorbent polymer production capacity. This expansion aims to address the increasing demand in various industries such as personal care and hygiene products, where superabsorbent polymers are essential.
Conclusion
The acrylic acid market is poised for significant growth, driven by its extensive applications across various industries and advancements in production technologies. This growth is fueled by increasing demand for superabsorbent polymers used in personal care products, such as diapers and sanitary napkins, and the rising use of acrylic acid in adhesives, paints, and coatings.
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