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%. 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 an automotive gasket, 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
- Global acrylic acid market was valued at US$ 14.6 Billion by 2022-end
- The U.S to account for the highest value share of US$ 7.8 Billion of global market demand for acrylic acid in 2032
- From 2015 to 2021, acrylic acid demand expanded at a CAGR of 2%
- By Product, the acrylate esters category constitutes the bulk of Acrylic Acid Market with a CAGR of 6%.
“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.
Know More about What the Acrylic Acid Market Repost 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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