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The acrylic acid derivatives market size is forecast to increase by USD4.77 billion at a CAGR of 5.56% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for these materials in various industries. Acrylamide, a key derivative, is extensively used in the production of superabsorbent polymers (SAPs), which have gained popularity in agriculture due to their water retention properties. In addition, the construction industry utilizes acrylic acid derivatives for producing high-performance materials and coatings. However, the market is influenced by external factors such as price fluctuations of crude oil, which is a primary raw material. Moreover, there is a growing emphasis on the use of renewable energy sources and eco-friendly materials. As a result, there is an increasing demand for biobased, recyclable, and biodegradable acrylic acid derivatives.
This trend is expected to continue as companies prioritize sustainability and reduce their carbon footprint. Polymer chemistry continues to evolve, offering new opportunities for the development of innovative acrylic acid derivative applications. In summary, the market is driven by the increasing demand for these materials in various industries, particularly in surface coating applications and agriculture. The market is also influenced by price fluctuations of crude oil. Furthermore, the trend towards sustainability and eco-friendly materials is creating new opportunities for biobased, recyclable, and biodegradable acrylic acid derivatives.
Title: the market: An In-depth Analysis of Polymers, Paints, Synthetic Rubbers, Textiles, and Other Applications Acrylic acid derivatives, a class of organic compounds derived from carboxylic acid, play a significant role in various industries, including polymers, paints, synthetic rubbers, textiles, and more. These derivatives, which include acrylic esters, acrylic polymers, and acrylate monomers such as methacrylate and acrylamide, are widely used in the production of high-performance materials and industrial products. Acrylic polymers are a key application area for acrylic acid derivatives. These polymers are used in the manufacturing of surface coatings, sealants, and adhesives due to their excellent water resistance and durability properties.
In the paint industry, acrylic polymers are used in both water-resistant and water-borne coatings to enhance their performance and longevity. Acrylic esters, another type of acrylic acid derivative, are widely used as plastic additives. They improve the properties of plastics, such as impact resistance, flexibility, and heat stability. In the textile industry, acrylic esters are used to produce synthetic fibers that offer excellent water resistance and insulation properties. Acrylic derivatives also find extensive applications in the production of detergent and renewable energy sources. Acrylamide, a derivative of acrylic acid, is used as a monomer in the production of superabsorbent polymers, which are used in the manufacturing of water-absorbing detergents.
Additionally, acrylate esters are used as monomers in the production of high-performance materials for renewable energy sources, such as solar panels and fuel cells. The vinyl group present in acrylic acid derivatives makes them highly reactive, allowing for the production of a wide range of industrial and consumer products. Ethylene, a common monomer used in the production of plastics, can be copolymerized with acrylic acid derivatives to produce acrylate polymers with improved properties. Acrylic acid derivatives are also used in the production of industrial chemicals and intermediates. For instance, they are used in the production of polymer formulations, which are used as raw materials in various industries.
In conclusion, acrylic acid derivatives play a crucial role in the production of a wide range of industrial and consumer products. Their versatility and reactivity make them valuable assets in the manufacturing of high-performance materials, surface coatings, sealants, adhesives, plastics, textiles, and renewable energy sources. With continued research and development in polymer chemistry, the applications of acrylic acid derivatives are expected to expand further, driving growth in the market. Keywords: acrylic acid derivatives, polymers, paints, synthetic rubbers, textiles, acrylic esters, acrylic polymers, polymer formulations, surface coatings, sealants and adhesives, plastic additives, detergent, organic compound, carboxylic acid, vinyl group, acrylates, methacrylate, acrylic polymer, industrial products, consumer products, ethylene, water-resistant coatings, water-borne coatings, acrylamide, superabsorbent polymers, acrylate esters, renewable energy sources, high-performance materials, polymer chemistry.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The acrylic ester segment is estimated to witness significant growth during the forecast period.Acrylic acid derivatives, specifically acrylic esters, hold significant market share in the global polymers and plastics industry. These derivatives, including methyl acrylate, ethyl acrylate, butyl acrylate, and ethyl hexyl acrylate, are manufactured using acrylic acid as a primary raw material. Acrylic esters, also referred to as acrylate esters, are integral components in various applications such as plastic additives, textiles, sealants, and adhesives. The construction and automotive sectors' expansion creates a surge in demand for paints and surface coatings, leading to increased opportunities for acrylates. Moreover, the hygiene products industry's growth necessitates more adhesives, thereby boosting the demand for acrylic esters worldwide. Acrylic polymers and formulations are also essential in the production of synthetic rubbers, further expanding the market's reach. The market is expected to grow steadily during the forecast period due to these applications' increasing demand.
The Acrylic ester segment accounted for USD 7333.02 million in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 69% 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.
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The market is primarily driven by the demand for Methacrylate monomers in the production of Acrylic polymers. These derivatives find extensive applications in various industries, including consumer products and industrial products. In terms of volume, the water-resistant coatings segment is the largest consumer of Acrylic Acid Derivatives, while the adhesives industry is expected to witness significant growth during the forecast period. Ethylene is a significant raw material used in the production of Acrylic Acid Derivatives, making it a critical component of the chemical industry. APAC holds the largest market share in the market, accounting for approximately XX% of the total revenue.
The region's dominance is primarily due to the rapid industrialization and increasing demand from countries like China and India. Acrylic Acid Derivatives are widely used in applications such as surfactants, surface coatings, personal care, and adhesives, leading to their increased demand and growth rate. Furthermore, the shift towards water-borne coatings due to their environmental benefits is expected to fuel the demand for Acrylic Acid Derivatives in the coatings industry. In summary, the market is driven by the demand for Methacrylate monomers in various industries, with the largest market share held by APAC. The region's dominance is due to the increasing industrialization and demand from countries like China and India.
The water-resistant coatings segment is the largest consumer of Acrylic Acid Derivatives, while the adhesives industry is expected to witness significant growth. The shift towards water-borne coatings is expected to fuel the demand for Acrylic Acid Derivatives in the coatings industry.
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.
Increased demand for acrylic acid derivatives in surface coating applications is the key driver of the market. Acrylic acid derivatives are essential compounds used extensively in various industries, particularly in plastic manufacturing and surface coating applications. Acrylic monomers, such as acrylic esters, are widely utilized as binders in water-borne coatings due to their superior performance and low volatile organic compound (VOC) emissions. The shift from solvent-borne to water-borne coatings is driving the growth of the market. Moreover, the use of acrylic derivatives extends beyond plastic manufacturing and coatings. They are also crucial components in the production of superabsorbent polymers, which have applications in various industries, including agriculture and healthcare. In the healthcare sector, these polymers are used in contact lenses and diapers, while in agriculture, they are used for water retention in soil.
However, the production and use of acrylic acid derivatives come with safety concerns. They are corrosive compounds that can irritate the eyes and respiratory tract. Therefore, proper handling and safety measures are essential when dealing with these chemicals. Despite the safety concerns, the demand for acrylic acid derivatives is expected to grow due to their wide applications in adhesives and sealants, coatings, and other industries. The increasing focus on reducing VOC emissions and the regulatory restrictions on the use of harmful chemicals are also expected to boost the market growth. According to market research firms like Grand View Research, Marketsandmarkets, Future Market Insights, Future Business Insights, Mordor Intelligence, Data bridge research, Transparency Market Research, and Statista, The market is expected to grow at a steady pace in the coming years.
Increasing use of SAPs in agricultural applications is the upcoming trend in the market. Acrylic acid derivatives, including super absorbent polymers (SAPs), play significant roles in various industries such as Electronics, Healthcare, and Energy. In the Electronics sector, these derivatives are utilized in the production of water-soluble polymers and biocompatible materials. In Healthcare, they serve as essential components in catalyst development and biomedical applications. In the Energy sector, they contribute to the advancement of simulation tools and computational modeling for energy storage systems. In the Agriculture sector, SAPs, also referred to as hydrogel, absorbent gels, or super soakers, are extensively employed due to their water-absorbing properties. These materials absorb water through osmosis and form granules in the soil, subsequently expanding to create a clear gel.
Agriculture faces several challenges, including unpredictable drought conditions, increased soil salinity, overuse of fertilizers and chemicals, and improper irrigation. These issues can negatively impact crop growth and productivity. SAPs' ability to resist drought stress makes them an invaluable solution in the agriculture industry. Keywords: Acrylic acid derivatives, Super absorbent polymers, Hydrogel, Agriculture, Drought stress, Water-soluble polymers, Biocompatible materials, Catalyst development, Computational modeling, Energy sector, Simulation tools.
Fluctuations in prices of crude oil is a key challenge affecting the market growth. Acrylic acid derivatives, including acrylamide, are essential components in various industries, particularly in the production of high-performance materials. The manufacturing process of acrylic acid involves the oxidation of propylene, a derivative of fossil fuels. However, with the growing emphasis on renewable energy sources and sustainable chemistry, there is a rising demand for biobased and biodegradable acrylic acid derivatives. Polymer chemistry plays a crucial role in the production of acrylic acid derivatives. These materials are used extensively in construction, due to their excellent properties such as durability and resistance to chemicals. In response to the volatility of crude oil prices, some manufacturers are exploring alternative feedstocks and production methods.
Acrylic acid and its derivatives are versatile chemicals, with applications ranging from adhesives and coatings to textiles and pharmaceuticals. The price of these products can be influenced by the cost of raw materials, particularly crude oil. As a result, companies are increasingly focusing on producing acrylic acid derivatives with low volatile organic compound (VOC) content, which are more environmentally friendly and can help mitigate the impact of higher crude oil prices on product pricing. In conclusion, the market is a significant contributor to various industries, and its growth is influenced by factors such as the availability and cost of raw materials, consumer preferences, and regulatory requirements.
The shift towards renewable energy sources and sustainable chemistry is expected to drive the demand for biobased and biodegradable acrylic acid derivatives in the future.
The market forecasting 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 market growth analysis strategies.
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 - Acrylic acid derivatives, including acrylic monomers, are a key offering from our company. These derivatives enhance the durability of water-based formulations, enabling their use without solvents and contributing to a cleaner environment. Acrylic monomers are essential ingredients in various industries, such as coatings, adhesives, and textiles, due to their superior performance properties. Our acrylic acid derivatives provide excellent film formation, adhesion, and chemical resistance, making them a preferred choice for manufacturers seeking sustainable and high-performing solutions. By utilizing our acrylic acid derivatives, businesses can produce eco-friendly products while maintaining the desired quality and functionality. Keywords: acrylic acid derivatives, acrylic monomers, water-based formulations, solvent-free, cleaner environment, coatings, adhesives, textiles, superior performance, sustainable solutions.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key 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.
Acrylic acid derivatives, including acrylate esters and acrylic polymers, play a significant role in various industries such as polymers, plastics, paints, synthetic rubbers, textiles, and more. These organic compounds are formed when acrylic acid undergoes esterification or polymerization, resulting in the formation of acrylates and acrylic polymers. Acrylate esters, like methyl acrylate and ethyl acrylate, are used in the production of plastics, water-borne coatings, and adhesives. Acrylic polymers, on the other hand, are utilized in the manufacture of high-performance materials, water-resistant coatings, superabsorbent polymers, and biocompatible materials. Acrylic derivatives are used in various applications, including industrial products, consumer products, and renewable energy sources.
In the industrial sector, they are used in the production of water treatment chemicals, detergents, and adult incontinence products. In the consumer sector, they are used in the production of paints and coatings, OEM finishes, and plastic manufacturing. Acrylic monomers, such as acrylamide, methacrylate, and butyl acrylate, are used in the production of acrylic derivatives. The polymer chemistry of acrylic derivatives is a complex field that involves catalyst development, computational modeling, and simulation tools to optimize production processes and improve product performance. Acrylic derivatives are essential in various industries due to their unique properties, such as water-solubility, biodegradability, recyclability, and biobased origin.
They are used in construction, electronics, healthcare, energy sectors, and more, making them indispensable in modern technology and daily life.
Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.56% |
Market growth 2024-2028 |
USD 4767.26 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.78 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 69% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arkema Group, BASF SE, CHEMRA GmbH, Clariant International Ltd., Dow Chemical Co., Evonik Industries AG, LG Corp., Merck KGaA, Mitsubishi Chemical Corp., Nippon Shokubai Co. Ltd., PCC SE, PTT Global Chemical Public Co. Ltd., Resonac Holdings Corp., SIBUR Holding PJSC, Solventis Ltd., Sumitomo Seika Chemicals Co. Ltd., Tecnon OrbiChem Ltd., The Lubrizol Corp., Toagosei Co. Ltd., and Westlake Corp. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the 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 Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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