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The acrolein market size is estimated to increase by USD 229.77 million and grow at a CAGR of 3.71% between 2023 and 2028. The plastic and polymer industries are experiencing significant growth, driven by the increasing demand in products such as diapers and hygienic pads. This trend extends to the water treatment sector, where it finds extensive application, further bolstering market expansion. However, challenges persist due to the adverse health impact associated with exposure, prompting concerns among consumers and regulators. Additionally, the availability of substitutes poses a threat to market stability, compelling industry players to innovate and differentiate their offerings. Moreover, raw material scarcity adds complexity to the supply chain, potentially hindering production and distribution. Despite these challenges, the market continues to grow, fueled by its diverse applications and the ongoing development of safer alternatives.
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By Application
The acrylic acid segment is estimated to witness significant growth during the forecast period. Acrylic acid is a colourless liquid with a distinctive acrid odour. Acrylic acid is an alpha beta-unsaturated monocarboxylic acid, which is ethene substituted by a carboxy group. Acrylic acid plays a primary role in the production of polymers and is commonly used in the manufacture of plastic materials, such as plastics, paint, and coatings, as well as in the production of adhesives and elastomers.
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The acrylic acid segment was the largest segment and was valued at USD 926.97 million in 2018. Acrylic acid adheres to polar substrates, such as paper, unprimed foil, metalized films, steel, iron, and glass. It is used for the packaging of medical devices owing to its adhesive properties and ability to withstand sterilization using ethylene oxide gas. Carboxyl functional groups in low-molecular-weight copolymers, such as acrylic acid, improve adhesion performance. As the acrylic acid compound is more responsive to dispersion in water than other additives, it is extensively used as a constituent of adhesive formulations. These factors will drive the growth of the global market during the forecast period.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is expected to become the largest geographical segment in the global market during the forecast period. Growth in the packaging, automotive, construction, industrial equipment, paper, and textile industries has led to a corresponding growth in the market in APAC. Furthermore, the pharmaceutical industry is growing in countries such as China and India. The industry's growth is mainly attributed to the increase in domestic demand for pharmaceutical drugs, coupled with increasing foreign investments in these countries. There is a significant need for high-quality packaging in pharmaceutical applications to protect pharmaceutical products from damage caused by temperature variations, light, and chemical reactions.
Moreover, the growth of the automotive industry and increased constructional activities, owing to high disposable income, especially in India and China, have increased the use of acrylic acid in coating applications. The growth of the market in APAC is also driven by the high demand for personal care products, a consequence of the rising disposable income in the region. Thus, it is expected that the regional market in focus will observe significant growth during the forecast period.
In the domain of specialty chemicals, bio-attributed acrylic monomers stand out as a crucial ingredient, contributing to diverse formulations and applications. Alongside 2 propenal and emulsifiers, these monomers play a pivotal role in creating innovative products with unique properties. However, their usage requires careful consideration, especially regarding potential hazards such as glutaraldehyde and ethanol. Moreover, the inclusion of acrolein in formulations adds to the complexity, given its multifaceted nature and role in various industries like polyurethane foams, synthetic fibers, and resins. As components of the polymer industries and contributors to coatings production, these chemicals underscore the importance of efficient processes like catalytic reduction and catalytic oxidation in ensuring product quality and safety. Leveraging biobased glycerol and petrochemical feedstocks, these chemicals facilitate advancements in water treatment, adhesives, and paint formulations, albeit with considerations for potential carcinogenic properties and environmental impacts. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising demand for acrolein in diapers and hygienic pads is notably driving the market growth. The increasing use in diapers and sanitary pads is a significant contributing factor to the global market. Due to its advantageous properties, it has been incorporated into the production processes of these sanitary products. It is a highly reactive and potentially toxic compound. This market trend is largely attributed to the growing emphasis on improving the efficacy of diapers and menstrual pads.
Moreover, companies are increasingly looking for creative solutions to enhance absorbency, reduce odour, and enhance the performance of these items. It has been found to be a viable option to attain these desired characteristics. These factors will boost the growth of the market in focus during the forecast period.
The development of acrolein as a biomarker is an emerging trend shaping the market growth. The utilization of biomarkers in cancer research has become increasingly popular. Research has demonstrated that it is produced in higher concentrations during oxidative stress, a process that is linked to the growth and progression of various forms of cancer. By detecting and tracking concentrations in bodily fluids and tissues, researchers are able to determine its association with particular types of tumours, potentially leading to the development of early detection strategies.
In addition, establishing precise concentrations in these conditions could provide insight into their underlying mechanisms and facilitate the development of specific therapies or preventive measures. All these components will exert a positive effect on the growth of the global market in focus during the forecast period.
Raw material scarcity is a significant challenge hindering market growth. It is a widely used chemical compound in a variety of industrial applications and is composed of a variety of raw materials, such as glycerin and propylene, which are limited in availability due to a shortage of raw materials. This shortage of raw materials has posed a major market challenge for the global industry, potentially leading to disruptions in the supply chain. Glycerin and propylene are in high demand in a variety of industries, such as pharmaceutical, personal care, and automotive, which has caused a shortage of raw materials. This has caused a strain on the supply chain, resulting in a volatile market situation. Additionally, glycerin production is closely linked to biodiesel production, which has further contributed to the scarcity of raw materials as renewable energy sources become more popular.
The market challenge is further compounded by the volatility of raw material prices, particularly glycerin and propylene. Such fluctuations in prices can have a negative effect on producers' profitability, hindering them from planning and investing in their production capacity. As a result, the market is subject to considerable pricing pressure and risks, exacerbating the issue of scarcity. These factors will thereby restrict the growth of the global market in focus during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arkema Group - The company offers acrolein solutions for many common industrial chemicals, leading to an array of useful end products.
The research report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
1. Ethylene Acrylic Acid Copolymer Market Analysis APAC, North America, Europe, South America, Middle East and Africa - China, US, Germany, Japan, France - Size and Forecast
2. Propylene Oxide Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, China, Japan, India, Germany - Size and Forecast
3. Acrylic Acid Market Analysis APAC, Europe, North America, Middle East and Africa, South America - China, US, Japan, Germany, India - Size and Forecast
Organic compounds like glycerine and bio-attributed acrylic monomers play pivotal roles in various industries, derived from petrochemical feedstock or bio-based glycerol through triglyceride processes and fatty acids extraction. These compounds are essential in producing biocides and agrochemicals used in pesticides and paints for coatings. In water treatment plants, specialty chemicals are crucial for managing oil industries and carcinogenic properties, treating contaminants with polymerization and electrophilic compounds. They also support plant and algae growth in irrigation canals and water treatment ponds. The petrochemical industry utilizes catalysts in catalytic reduction processes for refining crude oil stocks into hydrocarbon fuels and engineering plastics. Meanwhile, enzymes and microorganisms aid in drilling water wells, optimizing natural resources extraction while ensuring environmental sustainability.
Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.71% |
Market Growth 2024-2028 |
USD 229.77 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
3.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arkema Group, Daicel Corp., Evonik Industries AG, Hubei Jinghong Chemical Co. Ltd., Hubei Shengling Technology Co. Ltd., Hubei Xinjing New Material Co. Ltd., Merck KGaA, Puyang shenghuade Chemical Co. Ltd., Wuhan Ruiji Chemical Co. Ltd., and Wuhan Youji Industries Co. Ltd. |
Market dynamics |
Parent market analysis, market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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