The global Bio Acrylic Acid market is forecast to reach USD 26.04 Billion by 2030, according to a new report by Reports and Data. Rising demand in the personal care market for superabsorbent polymers is expected to fuel growth over the projected period. Expanding use is also likely to shape the market in the manufacturing of surfactants, surface coatings, and adhesives & sealants. The rising demand for glacial Bio Acrylic Acid (GAA) in the manufacture of superabsorbent polymers (SAP) is projected to be a primary factor to escalate the market growth. Increasing SAP reach in niche segments involving adult incontinence, water treatment additives, and radiation treated coatings is anticipated to play an important role in the market growth in emerging economies in the Asia Pacific and Central & South America.
The driving forces for growth are rising demand for superabsorbent polymers, widespread acceptance of acrylic-based products in developing nations like the Asia Pacific, and increasing industrial sectors such as adhesives and sealants. Industries are designing and selling petrochemical technologies for manufacturing it. Instead of globally growing oil prices, producers use bio-based methods to generate this unsaturated carboxylic acid and acrylates from natural materials such as glycerol, sugar, and other things. Renewable feedstock provides favorable cost outcomes for competing with petrochemical routes.
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Top Leading Players: Formosa Plastics Co., Jiangsu Jurong Chemical Co. Ltd., Zhejiang Chemical, Shenyang Chemical Co. Ltd., LG Chemical, Mitsubishi Chemical, Dow Chemical Co., CNPC, BASF, and Arkema among others.
Key Companies in the market include:
- Acrylate esters were the primary products consumed in 2019, with an overall market share of 48.62%. Increasing demand for derivative products such as ethyl acrylate, butyl acrylate, and 2-EHA is supposed to propel product growth in paints, coatings, and fabrics.
- Personal care goods formed the leading end-use sector and constituted 30 percent of the overall value of the market in 2019. Rising demand from adult incontinence goods is projected to push this category over the forecast period attributed to the increasing geriatric population base in Europe and Japan, coupled with the rising population of baby boomers in the U.S.
- North America and Europe have established markets, which have a heavy emphasis on the production of bio-based Bio Acrylic Acid. Corporations like Novozymes, Cargill, BASF, and OPX Bio have successfully implemented pilot-scale bio-based components and are moving on to commercial ventures.
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Key questions covered in the global Bio Acrylic Acid Market report:
- What is the expected market size of the global Bio Acrylic Acid Market during the forecast period?
- What factors are expected to hamper global Bio Acrylic Acid Market growth over the forecast period?
- What key factors are expected to drive global revenue growth between 2021 and 2028?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Polyvinyl Alcohol market?
Segments covered in the report:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- N-butyl acrylate
- Ethyl acrylate
- 2-ethylhexyl acrylate
- Methyl methacrylate
- Isobutyl acrylate
Application Outlook (Revenue, USD Billion; 2019-2030)
- Engineering plastics and co-polymer
- Emulsions paints and coatings
- Hygienic medical products
- Detergents
- Wastewater treatment
End-use Channel Outlook (Revenue, USD Billion; 2019-2030)
- Plastic industries
- Paints and chemical industries
- Consumer goods
- Healthcare and hospitals
- Others
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