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Glacial Acrylic Acid Market By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031

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    Report

  • 204 Pages
  • September 2022
  • Region: Global
  • Allied Market Research
  • ID: 5713185
The glacial acrylic acid market attained $2.4 billion in 2021 and is projected to reach $3.5 billion by 2031, growing at a CAGR of 3.7% from 2022 to 2031.

Glacial acrylic acid (GAA) is an unsaturated monocarboxylic acid for use in syntheses and in the production of polymers. It produces a vinyl compound and a carboxylic acid in reaction. It easily goes through addition and polymerization processes. It can be used as a carboxylic acid to produce acrylic esters, acrylamide, N-substituted acrylamides, and acrylic chloride by common methods. Glacial acrylic acids are widely used in the nappies, adult & feminine hygiene, detergents, adhesives, coatings, & sealants, water treatment, and others. In addition, an increase in the use of nappies in the personal care industry is anticipated to boost the growth of the market for glacial acrylic acids, as GAA is used in the production of nappies, waste-treatment chemicals, and some medical products.

Moreover, acrylic acid homopolymers and copolymers with a large concentration of acrylic acid have a glassy texture and are frequently soluble in water. It consists of a wide range of applications in several end-use industries as they can be applied in a variety of ways, such as thickeners, dispersing agents, flocculants, protective colloids for stabilizing emulsions and polymer dispersions, wetting agents, coatings, and textile finishes, in both their free acids and ammonium and alkali salt forms.; these factors are expected to augment the demand for glacial acrylic acids during the forecast period.

However, there are some disadvantages associated with glacial acrylic acids such as fluctuation of prices in raw materials such as propylene, ethylene, and others. These factors are expected to restrain the glacial acrylic acids demand across various end-use sectors; thus, hampering the growth of the glacial acrylic acid market.

On the contrary, China is anticipated to be a potential market and the fastest growing market in the near future for the coatings industry in Asia-Pacific. The United Nations estimates that the world population has likely surpassed 8.6 billion people because of rapid urbanization, which has significantly increased the size of the industrial sector. For instance, according to a report published by the American Coating Association, architectural coatings are the largest segment in the paint and coating market, which accounts for more than 50% of the market share in terms of the total volume produced by the industry annually. Thus, the growth of the coating industry is expected to directly fuel the glacial acrylic acid market demand over the forecast period.

The global glacial acrylic acid market is segmented into application and region. Depending on the application, the market is classified into nappies, adult & feminine hygiene, detergents, adhesives, coatings & sealants, water treatment, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global glacial acrylic acid market Arkema, BASF SE, BASF PETRONAS Chemicals Sdn. Bhd., Dow Inc, Formosa Plastics Corporation, U.S.A, Hexion Inc., LG Chem, Mitsubishi Chemical Holdings Corporation, Nippon Shokubai Co Ltd, Novomer Inc, Sanmu Group, and Shandong kaitai petrochemical Co., Ltd.

Other players operating in the market are Cargill, Incorporated, Novozymes, and Sasol.

IMPACT OF COVID-19 ON THE GLOBAL GLACIAL ACRYLIC ACID MARKET

  • The glacial acrylic acid market has had a negative impact due to the wake of the COVID-19 pandemic, owing to disruptions in the supply chain for glacial acrylic acid products.
  • Several glacial acrylic acid production companies have also reduced or stopped their operations due to the risk of infection among the employees while also supporting government's goal of maintaining critical business activities such as healthcare, power generation, and food production.
  • As a result, glacial acrylic acid demand and supply have been temporarily hindered during the COVID-19 period.
  • Extended lockdowns in wealthy market economies and domestic societal estrangement have intensified the negative effect on emerging market economies.
  • However, after the pandemic, as the demand will return to normal after the restrictions were lifted, participants in this market have explored measures to minimize the pandemic's impact on their business.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the glacial acrylic acid market analysis from 2021 to 2031 to identify the prevailing glacial acrylic acid market opportunities.
  • Market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • An in-depth analysis of the glacial acrylic acid market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes an analysis of the regional as well as global glacial acrylic acid market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Application

  • Nappies
  • Adult and Feminine Hygiene
  • Detergents
  • Adhesives, Coatings and Sealants
  • Water Treatment
  • Others

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players

  • BASF SE
  • BASF PETRONAS Chemicals Sdn. Bhd.
  • DOW INC
  • Formosa Plastics Corporation
  • Hexion Inc.
  • LG Chem Ltd
  • Mitsubishi Chemical Holdings Corporation
  • Nippon Shokubai Co Ltd
  • Novomer Inc
  • Sanmu Group
  • Shandong kaitai petrochemical Co., Ltd
  • Arkema
Frequently Asked Questions about the Glacial Acrylic Acid Market

What is the estimated value of the Glacial Acrylic Acid Market?

The Glacial Acrylic Acid Market was estimated to be valued at $2.4 billion in 2021.

What is the growth rate of the Glacial Acrylic Acid Market?

The growth rate of the Glacial Acrylic Acid Market is 3.8%, with an estimated value of $3.5 billion by 2031.

What is the forecasted size of the Glacial Acrylic Acid Market?

The Glacial Acrylic Acid Market is estimated to be worth $3.5 billion by 2031.

Who are the key companies in the Glacial Acrylic Acid Market?

Key companies in the Glacial Acrylic Acid Market include BASF SE, BASF PETRONAS Chemicals Sdn. Bhd., DOW INC, Formosa Plastics Corporation, Hexion Inc., LG Chem Ltd, Mitsubishi Chemical Holdings Corporation, Nippon Shokubai Co Ltd and Sanmu Group.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Value Chain Analysis
3.8. Key Regulation Analysis
3.9. Patent Landscape

CHAPTER 4: GLACIAL ACRYLIC ACID MARKET, BY APPLICATION
4.1 Overview
4.1.1 Market size and forecast
4.2 Nappies
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Adult and Feminine Hygiene
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Detergents
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Adhesives, Coatings and Sealants
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Water Treatment
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country
4.7 Others
4.7.1 Key market trends, growth factors and opportunities
4.7.2 Market size and forecast, by region
4.7.3 Market analysis by country

CHAPTER 5: GLACIAL ACRYLIC ACID MARKET, BY REGION
5.1 Overview
5.1.1 Market size and forecast
5.2 North America
5.2.1 Key trends and opportunities
5.2.2 North America Market size and forecast, by Application
5.2.3 North America Market size and forecast, by country
5.2.3.1 U.S.
5.2.3.1.1 Market size and forecast, by Application
5.2.3.2 Canada
5.2.3.2.1 Market size and forecast, by Application
5.2.3.3 Mexico
5.2.3.3.1 Market size and forecast, by Application
5.3 Europe
5.3.1 Key trends and opportunities
5.3.2 Europe Market size and forecast, by Application
5.3.3 Europe Market size and forecast, by country
5.3.3.1 Germany
5.3.3.1.1 Market size and forecast, by Application
5.3.3.2 France
5.3.3.2.1 Market size and forecast, by Application
5.3.3.3 UK
5.3.3.3.1 Market size and forecast, by Application
5.3.3.4 Spain
5.3.3.4.1 Market size and forecast, by Application
5.3.3.5 Italy
5.3.3.5.1 Market size and forecast, by Application
5.3.3.6 Rest of Europe
5.3.3.6.1 Market size and forecast, by Application
5.4 Asia-Pacific
5.4.1 Key trends and opportunities
5.4.2 Asia-Pacific Market size and forecast, by Application
5.4.3 Asia-Pacific Market size and forecast, by country
5.4.3.1 China
5.4.3.1.1 Market size and forecast, by Application
5.4.3.2 Japan
5.4.3.2.1 Market size and forecast, by Application
5.4.3.3 India
5.4.3.3.1 Market size and forecast, by Application
5.4.3.4 South Korea
5.4.3.4.1 Market size and forecast, by Application
5.4.3.5 Rest of Asia-Pacific
5.4.3.5.1 Market size and forecast, by Application
5.5 LAMEA
5.5.1 Key trends and opportunities
5.5.2 LAMEA Market size and forecast, by Application
5.5.3 LAMEA Market size and forecast, by country
5.5.3.1 Brazil
5.5.3.1.1 Market size and forecast, by Application
5.5.3.2 Saudi Arabia
5.5.3.2.1 Market size and forecast, by Application
5.5.3.3 South Africa
5.5.3.3.1 Market size and forecast, by Application
5.5.3.4 Rest of LAMEA
5.5.3.4.1 Market size and forecast, by Application

CHAPTER 6: COMPANY LANDSCAPE
6.1. Introduction
6.2. Top winning strategies
6.3. Product Mapping of Top 10 Player
6.4. Competitive Dashboard
6.5. Competitive Heatmap
6.6. Key developments

CHAPTER 7: COMPANY PROFILES
7.1 Arkema
7.1.1 Company overview
7.1.2 Company snapshot
7.1.3 Operating business segments
7.1.4 Product portfolio
7.1.5 Business performance
7.1.6 Key strategic moves and developments
7.2 BASF SE
7.2.1 Company overview
7.2.2 Company snapshot
7.2.3 Operating business segments
7.2.4 Product portfolio
7.2.5 Business performance
7.2.6 Key strategic moves and developments
7.3 BASF PETRONAS Chemicals Sdn. Bhd.
7.3.1 Company overview
7.3.2 Company snapshot
7.3.3 Operating business segments
7.3.4 Product portfolio
7.3.5 Business performance
7.3.6 Key strategic moves and developments
7.4 DOW INC
7.4.1 Company overview
7.4.2 Company snapshot
7.4.3 Operating business segments
7.4.4 Product portfolio
7.4.5 Business performance
7.4.6 Key strategic moves and developments
7.5 Formosa Plastics Corporation
7.5.1 Company overview
7.5.2 Company snapshot
7.5.3 Operating business segments
7.5.4 Product portfolio
7.5.5 Business performance
7.5.6 Key strategic moves and developments
7.6 Hexion Inc.
7.6.1 Company overview
7.6.2 Company snapshot
7.6.3 Operating business segments
7.6.4 Product portfolio
7.6.5 Business performance
7.6.6 Key strategic moves and developments
7.7 LG Chem Ltd
7.7.1 Company overview
7.7.2 Company snapshot
7.7.3 Operating business segments
7.7.4 Product portfolio
7.7.5 Business performance
7.7.6 Key strategic moves and developments
7.8 Mitsubishi Chemical Holdings Corporation
7.8.1 Company overview
7.8.2 Company snapshot
7.8.3 Operating business segments
7.8.4 Product portfolio
7.8.5 Business performance
7.8.6 Key strategic moves and developments
7.9 Nippon Shokubai Co Ltd
7.9.1 Company overview
7.9.2 Company snapshot
7.9.3 Operating business segments
7.9.4 Product portfolio
7.9.5 Business performance
7.9.6 Key strategic moves and developments
7.10 Novomer Inc
7.10.1 Company overview
7.10.2 Company snapshot
7.10.3 Operating business segments
7.10.4 Product portfolio
7.10.5 Business performance
7.10.6 Key strategic moves and developments
7.11 Sanmu Group
7.11.1 Company overview
7.11.2 Company snapshot
7.11.3 Operating business segments
7.11.4 Product portfolio
7.11.5 Business performance
7.11.6 Key strategic moves and developments
7.12 Shandong kaitai petrochemical Co., Ltd
7.12.1 Company overview
7.12.2 Company snapshot
7.12.3 Operating business segments
7.12.4 Product portfolio
7.12.5 Business performance
7.12.6 Key strategic moves and developments

List of Tables
Table 1. Global Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 2. Glacial Acrylic Acid Market, for Nappies, by Region, 2021-2031 ($Million)
Table 3. Glacial Acrylic Acid Market for Nappies, by Country, 2021-2031 ($Million)
Table 4. Glacial Acrylic Acid Market, for Adult and Feminine Hygiene, by Region, 2021-2031 ($Million)
Table 5. Glacial Acrylic Acid Market for Adult and Feminine Hygiene, by Country, 2021-2031 ($Million)
Table 6. Glacial Acrylic Acid Market, for Detergents, by Region, 2021-2031 ($Million)
Table 7. Glacial Acrylic Acid Market for Detergents, by Country, 2021-2031 ($Million)
Table 8. Glacial Acrylic Acid Market, for Adhesives, Coatings and Sealants, by Region, 2021-2031 ($Million)
Table 9. Glacial Acrylic Acid Market for Adhesives, Coatings and Sealants, by Country, 2021-2031 ($Million)
Table 10. Glacial Acrylic Acid Market, for Water Treatment, by Region, 2021-2031 ($Million)
Table 11. Glacial Acrylic Acid Market for Water Treatment, by Country, 2021-2031 ($Million)
Table 12. Glacial Acrylic Acid Market, for Others, by Region, 2021-2031 ($Million)
Table 13. Glacial Acrylic Acid Market for Others, by Country, 2021-2031 ($Million)
Table 14. Glacial Acrylic Acid Market, by Region, 2021-2031 ($Million)
Table 15. North America Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 16. North America Glacial Acrylic Acid Market, by Country, 2021-2031 ($Million)
Table 17. U.S. Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 18. Canada Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 19. Mexico Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 20. Europe Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 21. Europe Glacial Acrylic Acid Market, by Country, 2021-2031 ($Million)
Table 22. Germany Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 23. France Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 24. UK Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 25. Spain Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 26. Italy Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 27. Rest of Europe Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 28. Asia-Pacific Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 29. Asia-Pacific Glacial Acrylic Acid Market, by Country, 2021-2031 ($Million)
Table 30. China Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 31. Japan Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 32. India Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 33. South Korea Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 34. Rest of Asia-Pacific Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 35. LAMEA Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 36. LAMEA Glacial Acrylic Acid Market, by Country, 2021-2031 ($Million)
Table 37. Brazil Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 38. Saudi Arabia Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 39. South Africa Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 40. Rest of LAMEA Glacial Acrylic Acid Market, by Application, 2021-2031 ($Million)
Table 41. Arkema: Company Snapshot
Table 42. Arkema: Operating Segments
Table 43. Arkema: Product Portfolio
Table 44. Arkema: Net Sales,
Table 45. Arkema: Key Strategies
Table 46. Basf Se: Company Snapshot
Table 47. Basf Se: Operating Segments
Table 48. Basf Se: Product Portfolio
Table 49. Basf Se: Net Sales,
Table 50. Basf Se: Key Strategies
Table 51. Basf Petronas Chemicals Sdn. Bhd.: Company Snapshot
Table 52. Basf Petronas Chemicals Sdn. Bhd.: Operating Segments
Table 53. Basf Petronas Chemicals Sdn. Bhd.: Product Portfolio
Table 54. Basf Petronas Chemicals Sdn. Bhd.: Net Sales,
Table 55. Basf Petronas Chemicals Sdn. Bhd.: Key Strategies
Table 56. Dow Inc: Company Snapshot
Table 57. Dow Inc: Operating Segments
Table 58. Dow Inc: Product Portfolio
Table 59. Dow Inc: Net Sales,
Table 60. Dow Inc: Key Strategies
Table 61. Formosa Plastics Corporation: Company Snapshot
Table 62. Formosa Plastics Corporation: Operating Segments
Table 63. Formosa Plastics Corporation: Product Portfolio
Table 64. Formosa Plastics Corporation: Net Sales,
Table 65. Formosa Plastics Corporation: Key Strategies
Table 66. Hexion Inc.: Company Snapshot
Table 67. Hexion Inc.: Operating Segments
Table 68. Hexion Inc.: Product Portfolio
Table 69. Hexion Inc.: Net Sales,
Table 70. Hexion Inc.: Key Strategies
Table 71. Lg Chem Ltd: Company Snapshot
Table 72. Lg Chem Ltd: Operating Segments
Table 73. Lg Chem Ltd: Product Portfolio
Table 74. Lg Chem Ltd: Net Sales,
Table 75. Lg Chem Ltd: Key Strategies
Table 76. Mitsubishi Chemical Holdings Corporation: Company Snapshot
Table 77. Mitsubishi Chemical Holdings Corporation: Operating Segments
Table 78. Mitsubishi Chemical Holdings Corporation: Product Portfolio
Table 79. Mitsubishi Chemical Holdings Corporation: Net Sales,
Table 80. Mitsubishi Chemical Holdings Corporation: Key Strategies
Table 81. Nippon Shokubai Co Ltd: Company Snapshot
Table 82. Nippon Shokubai Co Ltd: Operating Segments
Table 83. Nippon Shokubai Co Ltd: Product Portfolio
Table 84. Nippon Shokubai Co Ltd: Net Sales,
Table 85. Nippon Shokubai Co Ltd: Key Strategies
Table 86. Novomer Inc: Company Snapshot
Table 87. Novomer Inc: Operating Segments
Table 88. Novomer Inc: Product Portfolio
Table 89. Novomer Inc: Net Sales,
Table 90. Novomer Inc: Key Strategies
Table 91. Sanmu Group: Company Snapshot
Table 92. Sanmu Group: Operating Segments
Table 93. Sanmu Group: Product Portfolio
Table 94. Sanmu Group: Net Sales,
Table 95. Sanmu Group: Key Strategies
Table 96. Shandong Kaitai Petrochemical Co., Ltd: Company Snapshot
Table 97. Shandong Kaitai Petrochemical Co., Ltd: Operating Segments
Table 98. Shandong Kaitai Petrochemical Co., Ltd: Product Portfolio
Table 99. Shandong Kaitai Petrochemical Co., Ltd: Net Sales,
Table 100. Shandong Kaitai Petrochemical Co., Ltd: Key Strategies

List of Figures
Figure 1. Glacial Acrylic Acid Market Segmentation
Figure 2. Glacial Acrylic Acid Market, 2021-2031
Figure 3. Glacial Acrylic Acid Market, 2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Glacial Acrylic Acid Mark.:Drivers, Restraints and Opportunities
Figure 12. Value Chain Analysis
Figure 13. Key Regulation Analysis
Figure 14. Patent Analysis by Company
Figure 15. Patent Analysis by Country
Figure 16. Glacial Acrylic Acid Market, By Application, 2021(%)
Figure 17. Comparative Share Analysis of Nappies Glacial Acrylic Acid Market, 2021-2031(%)
Figure 18. Comparative Share Analysis of Adult and Feminine Hygiene Glacial Acrylic Acid Market, 2021-2031(%)
Figure 19. Comparative Share Analysis of Detergents Glacial Acrylic Acid Market, 2021-2031(%)
Figure 20. Comparative Share Analysis of Adhesives, Coatings and Sealants Glacial Acrylic Acid Market, 2021-2031(%)
Figure 21. Comparative Share Analysis of Water Treatment Glacial Acrylic Acid Market, 2021-2031(%)
Figure 22. Comparative Share Analysis of Others Glacial Acrylic Acid Market, 2021-2031(%)
Figure 23. Glacial Acrylic Acid Market by Region, 2021
Figure 24. U.S. Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 25. Canada Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 26. Mexico Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 27. Germany Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 28. France Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 29. Uk Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 30. Spain Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 31. Italy Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 32. Rest of Europe Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 33. China Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 34. Japan Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 35. India Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 36. South Korea Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 37. Rest of Asia-Pacific Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 38. Brazil Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 39. Saudi Arabia Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 40. South Africa Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 41. Rest of LAMEA Glacial Acrylic Acid Market, 2021-2031($Million)
Figure 42. Top Winning Strategies, by Year
Figure 43. Top Winning Strategies, by Development
Figure 44. Top Winning Strategies, by Company
Figure 45. Product Mapping of Top 10 Players
Figure 46. Competitive Dashboard
Figure 47. Competitive Heatmap of Top 10 Key Players
Figure 48. Arkem.: Net Sales, ($Million)
Figure 49. Basf S.: Net Sales, ($Million)
Figure 50. Basf Petronas Chemicals Sdn. Bhd.: Net Sales, ($Million)
Figure 51. Dow In.: Net Sales, ($Million)
Figure 52. Formosa Plastics Corporatio.: Net Sales, ($Million)
Figure 53. Hexion Inc.: Net Sales, ($Million)
Figure 54. Lg Chem Lt.: Net Sales, ($Million)
Figure 55. Mitsubishi Chemical Holdings Corporatio.: Net Sales, ($Million)
Figure 56. Nippon Shokubai Co Lt.: Net Sales, ($Million)
Figure 57. Novomer In.: Net Sales, ($Million)
Figure 58. Sanmu Grou.: Net Sales, ($Million)
Figure 59. Shandong Kaitai Petrochemical Co. Lt.: Net Sales, ($Million)

Executive Summary

According to the report, “Glacial Acrylic Acid Market," the glacial acrylic acid market was valued at $2.4 billion in 2021 and is estimated to reach $3.5 billion by 2031, growing at a CAGR of 3.7% from 2022 to 2031.

Glacial Acrylic Acid (GAA) is the simplest carboxylic acid, which serves as a precursor for a variety of different acrylates, acrylic polymers, and copolymers. The key applications of GAA include adhesives, detergents, leather treatment, acrylic resin manufacturing, paints & coatings, personal care, construction, nappies, adult and feminine hygiene, water treatment, and other applications. It is also known as propenoic acid. GAA rapidly copolymerizes with ethylene, vinyl acetate, styrene, butadiene, acrylonitrile, maleic acid esters, vinyl chloride, and vinylidene chloride as well as acrylic and methacrylic esters.

The major factor fueling the growth of global market demand is its increasing use in disposable diapers or baby diapers as well as in detergent polymers, which are widely utilized in the production of washing powder. Since glacial acrylic acid is used as crucial material in the manufacturing process of the superabsorbent polymer (SAP), which is used to make diapers and detergents. These factors are driving the growth of the glacial acrylic acid market.

Moreover, the expansion of the coatings industry such as industrial coating, architectural coating, and leather coatings acts as a driving factor for the global glacial acrylic acid market. Since, are used primarily in ornamental and masonry coatings, industrial coatings, and a variety of other products, including adhesives, leather coatings, tablet coatings, carpet backing compounds, and papers. Also, GAA is also employed as a co-monomer with acrylamide in anionic polyacrylamide and the production of hydroxy acrylates for use in industrial coating formulations. Glacial acrylic acids are also known as water-based acrylic acids.

This is expected to increase demand in the coatings industry for glacial acrylic acid. In addition, GAA is utilized as a raw ingredient in the manufacturing of acrylate esters, which are used to make resin, adhesives, surface coatings, paper casings, and dispersions. The demand for the product is thus anticipated to be fueled by the expansion of the worldwide coatings market in the near future.

Furthermore, the global glacial acrylic acid market has seen an increase in organic growth strategies including capacity expansion, mergers, and acquisitions, which is further expected to continue throughout the forecast period. TIER-1 and TIER-2 producers of glacial acrylic acid operating in the markets of North America, Asia-Pacific, and Europe, are all experiencing underlying growth. As a result, it is creating a lucrative opportunity for the growth of the global glacial acrylic market in the upcoming future.

The global glacial acrylic acid market is segmented into application and region. Depending on the application, the market is classified into nappies, adult & feminine hygiene, detergents, adhesives, coatings & sealants, water treatment, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The major players operating in the global glacial acrylic acid market are Arkema, BASF SE, BASF PETRONAS Chemicals Sdn. Bhd., Dow Inc, Formosa Plastics Corporation, U.S.A., Hexion Inc., LG Chem, Mitsubishi Chemical Holdings Corporation, Nippon Shokubai Co Ltd, Novomer Inc, Sanmu Group, and Shandong kaitai petrochemical Co., Ltd. Other players operating in the market are Cargill, Incorporated, Novozymes, and Sasol.

Key Findings of the Study

  • Based on application, the adhesives, coatings, and sealants segment is expected to grow at a CAGR of 2.9%, in terms of revenue and hold a dominant share of 32.5% in the GAA market.
  • Region wise, Asia-Pacific garnered a share of 54.0% in 2021 in terms of revenue and is expected to grow at a CAGR of 4.2% during the forecast period.

IMPACT OF COVID-19 ON THE GLOBAL GLACIAL ACRYLIC ACID MARKET

The glacial acrylic acid market has had a negative impact due to the wake of the COVID-19 pandemic, owing to disruptions in the supply chain for glacial acrylic acid products.

Several glacial acrylic acid production companies have also reduced or stopped their operations due to the risk of infection among the employees while also supporting the government's goal of maintaining critical business activities such as healthcare, power generation, and food production.

As a result, glacial acrylic acid demand and supply have been temporarily hindered during the COVID-19 period.

Extended lockdowns in wealthy market economies and domestic societal estrangement have intensified the negative effect on emerging market economies.

However, after the pandemic, as the demand will return to normal after the restrictions were lifted, participants in this market have explored measures to minimize the pandemic's impact on their business.

Companies Mentioned

  • BASF SE
  • BASF PETRONAS Chemicals Sdn. Bhd.
  • DOW INC
  • Formosa Plastics Corporation
  • Hexion Inc.
  • LG Chem Ltd
  • Mitsubishi Chemical Holdings Corporation
  • Nippon Shokubai Co Ltd
  • Novomer Inc
  • Sanmu Group
  • Shandong kaitai petrochemical Co., Ltd
  • Arkema

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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