The global Acrylic Acid market serves as a pivotal segment within the petrochemical value chain, acting as the fundamental building block for a vast array of downstream derivatives, including acrylate esters and superabsorbent polymers (SAP). As a carboxylic acid with the chemical structure commonly identified by CAS No. 79-10-7, Acrylic Acid is characterized by its ability to polymerize, making it indispensable in the production of coatings, adhesives, textiles, and hygiene products.
The market has demonstrated resilience and steady expansion, driven by urbanization, the growing demand for improved hygiene standards, and industrial development in emerging economies. Based on current industrial trajectories and capacity expansions, the estimated market size for Acrylic Acid is projected to range between 5.8 billion and 8.8 billion USD in 2026. Looking forward, the industry is expected to maintain a stable growth trajectory, with a Compound Annual Growth Rate (CAGR) estimated between 2.2% and 3.8% through the year 2031.
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The market has demonstrated resilience and steady expansion, driven by urbanization, the growing demand for improved hygiene standards, and industrial development in emerging economies. Based on current industrial trajectories and capacity expansions, the estimated market size for Acrylic Acid is projected to range between 5.8 billion and 8.8 billion USD in 2026. Looking forward, the industry is expected to maintain a stable growth trajectory, with a Compound Annual Growth Rate (CAGR) estimated between 2.2% and 3.8% through the year 2031.
Production Technology and Feedstock Analysis
The synthesis of Acrylic Acid is heavily dependent on the propylene value chain. The dominant industrial process involves the two-stage catalytic oxidation of chemical-grade propylene. However, upstream feedstock dynamics are evolving.- Propylene Oxidation Route: Currently, the vast majority of global production utilizes propylene derived from steam crackers or Fluid Catalytic Cracking (FCC) units. Additionally, the Propane Dehydrogenation (PDH) process has gained significant traction, particularly in Asia, converting propane into propylene which is then oxidized into Acrylic Acid.
- Direct Propane Oxidation (Innovative Process): The industry is witnessing technological shifts aimed at cost reduction and process simplification. Notably, new investments, such as those by Ningbo Changhong Polymer Scientific and Technical Inc., are targeting the "one-step" oxidation method. This technology aims to bypass the intermediate propylene stage by directly oxidizing propane into acrylic acid. If successfully industrialized at scale (projected around 2027), this could significantly alter the cost structure by utilizing cheaper propane feedstock.
- Bio-based Acrylic Acid: Sustainability initiatives are driving the development of "Green" Acrylic Acid. Leading players like LG Chem are advancing the commercialization of bio-acrylic acid derived from vegetable oils/biomass. With prototype production commencing in 2025, this represents a strategic shift towards reducing the carbon footprint of the acetyls chain, although it currently represents a niche volume compared to petrochemical routes.
Product Segmentation and Derivatives
Acrylic Acid is rarely used in its pure form by end-users; rather, it is esterified or neutralized to create derivatives. The market is primarily segmented into Crude Acrylic Acid (used to make esters) and Glacial Acrylic Acid (highly purified for SAP).- Acrylate Esters: This category consumes the majority of crude acrylic acid.
- n-Butyl Acrylate (BA): The largest volume ester. It is essential for producing pure acrylic and styrene-acrylic emulsions used in architectural paints and coatings. It provides durability and flexibility. Other applications include adhesives and textiles.
- 2-Ethylhexyl Acrylate (2-EHA): Primarily used in the manufacturing of Pressure Sensitive Adhesives (PSAs) for tapes and labels. It is also used in high-performance anti-corrosion coatings and exterior paints due to its weatherability.
- Ethyl Acrylate (EA): Often co-polymerized with ethylene. It is used as a hot-melt adhesive and in solvent-resistant synthetic rubbers (replacing nitrile rubber in specific applications). It also serves as an intermediate for carbamate insecticides.
- Methyl Acrylate (MA): Used in the production of Acrylic Rubber (ACM) and Ethylene-Methyl Acrylate (EMA) copolymers, offering heat and oil resistance for automotive components.
- Specialty Acrylates: These include Hydroxyethyl acrylate (HEA), Hydroxypropyl acrylate (HPA), and Isobornyl acrylate. These are critical for high-end applications like UV-curable coatings, photosensitive resins, and automotive clear coats.
- Superabsorbent Polymers (SAP):
- Production requires Glacial Acrylic Acid (GAA). The process involves neutralizing GAA to form sodium acrylate, creating a cross-linked polymer network capable of absorbing hundreds of times its weight in water.
- Applications: The primary end-use is personal hygiene, specifically disposable diapers (baby and adult) and feminine hygiene products. This segment is less sensitive to economic cycles but highly sensitive to demographic trends (birth rates and aging populations).
Regional Market Analysis
The global capacity landscape is heavily skewed towards Asia, with significant restructuring occurring in traditional markets due to competitive pressure.- Asia-Pacific (APAC)
- Market Share: Estimated to hold 55% - 65% of global production capacity and consumption.
- China: The undisputed global leader. By 2025, China’s total capacity exceeds 4.3 million tons, up from ~3.3 million tons in 2020. With new projects coming online, capacity is projected to surpass 4.5 million tons by 2026. The region is characterized by large-scale integrated complexes.
- South Korea: The second-largest producer in APAC with over 600,000 tons of capacity, driven primarily by LG Chem.
- Japan: A mature market facing consolidation. High operational costs and intense competition from mainland China led to the strategic withdrawal of Idemitsu from the Acrylic Acid and Butyl Acrylate business in March 2023. This signals a broader trend of rationalization in the Japanese petrochemical sector.
- Other Key Hubs: Taiwan, China maintains significant production capabilities (Formosa Plastics). Southeast Asia (Indonesia, Malaysia, Singapore) and India are growing markets, increasingly integrating downstream ester production.
- Europe
- Market Share: Estimated at 15% - 20%.
- Dynamics: A mature market focusing on high-value derivatives and sustainability. Major production hubs are located in Germany (Ludwigshafen), Belgium (Antwerp), and France (Carling).
- Key Players: BASF, Arkema, and Nippon Shokubai Europe are the dominant forces. The region is a net exporter of technology but faces challenges from high energy costs. Synthomer operates facilities in the Czech Republic.
- North America
- Market Share: Estimated at 12% - 16%.
- Dynamics: Benefiting from cost-advantaged shale gas feedstocks (propane/propylene). The US Gulf Coast is the production epicenter.
- Key Players: Dow, BASF, and Arkema operate major facilities. Nippon Shokubai maintains a presence through its joint venture, American Acryl L.P.
- Middle East and Africa (MEA)
- Market Share: Estimated at 4% - 6%.
- Dynamics: Leverages feedstock proximity. Total capacity is approximately 330,000 tons, with Tasnee (Saudi Arabia) and Sasol (South Africa) being the primary entities.
- South America
- Market Share: Estimated at 2% - 4%.
- Dynamics: Brazil is the central hub, with BASF operating the major world-scale production complex in the region to serve local coatings and hygiene markets.
Competitive Landscape and Key Players
The global Acrylic Acid market is consolidated at the top, with a few chemical giants controlling a significant portion of capacity, followed by a fragmented tier of rapidly expanding Chinese producers. The total global capacity in 2025 stands at approximately 9.3 million tons.Tier 1: Global Leaders (Capacity > 1 Million Tons)
- BASF (Germany): The world's largest producer with a global footprint exceeding 1.5 million tons. BASF operates integrated "Verbund" sites in Europe, North America, and Asia, allowing for maximum efficiency.
- Arkema (France): A global major with capacity exceeding 1 million tons. Arkema has a strong presence in Europe and North America and focuses heavily on downstream specialty materials.
- Shanghai Huayi Group (China): The largest Chinese producer and third globally, with capacity exceeding 1 million tons.
- Nippon Shokubai (Japan): A historical leader in AA and SAP, with global capacity nearing 1 million tons. The company is restructuring its global footprint to maintain competitiveness.
Tier 2: Major International & Regional Players (Capacity 500k - 1M Tons)
- Satellite Chemical Co. Ltd. (China): A rapidly growing private enterprise in China with significant integrated PDH-AA capacity, exceeding 600,000 tons.
- Dow (USA): A key player in the North American market with capacities exceeding 600,000 tons, heavily integrated into its coatings and materials business.
- LG Chem (South Korea): A major regional supplier with >600,000 tons capacity, currently pivoting towards bio-balanced feedstocks.
Tier 3: Significant Producers (Capacity 200k - 500k Tons)
- Formosa Plastics Corp. (Taiwan, China): A key supplier for the Asian market.
- Wanhua Chemical Group (China): A diversified giant expanding its acrylics portfolio.
- Tasnee (Saudi Arabia): The primary producer in the Middle East.
- Jiangsu Sanmu Group (China): A major player in coatings resins and solvents.
- Stockhausen: Operates significant capacity linked to the hygiene supply chain.
Emerging and Other Notable Players:
The Chinese market features numerous active players contributing to the country's massive output, including CNOOC Huizhou Petrochemical, Shandong Hongxin Chemical, Shandong Kaitai Petrochemical, Zibo Qixiang Tengda Chemical, Wanzhou Petrochemical (Jiangsu), PetroChina Lanzhou Petrochemical, Fujian Binhai Chemical, Shandong Nuoer Biological Technology, and Tianjin Bohai Chemical.Value Chain Analysis
- Upstream: The value chain begins with hydrocarbons. The volatility of crude oil and propane prices directly impacts the production cost of propylene, the immediate precursor. The shift towards lighter feedstocks (propane) via PDH units has helped decouple some producers from naphtha-based pricing, although it introduces propane price risk.
- Midstream (Synthesis): The conversion of propylene to Acrylic Acid is capital intensive. Profitability here is determined by the "spread" between propylene costs and spot AA prices. Vertical integration is a key competitive advantage; companies that produce their own propylene (like Satellite Chemical or BASF) often sustain better margins during downturns.
- Downstream:
- Esters Line: Moving from AA to Esters (Butyl/Ethyl/2-EHA) adds value. These are sold to formulators of paints, adhesives, and inks.
- SAP Line: Moving from GAA to SAP creates a high-value material for the hygiene industry. This segment requires stringent purity standards and close relationships with consumer goods giants (e.g., P&G, Kimberly-Clark).
Market Opportunities and Challenges
Opportunities:
- Bio-Based Transition: As global brands commit to sustainability goals, there is a premium market emerging for bio-acrylic acid. LG Chem’s entry into this space indicates a future trend where "Green AA" could become a standard requirement for premium consumer goods.
- Adult Incontinence Growth: While birth rates are declining in developed nations, the aging population in Europe, Japan, and China is driving robust demand for adult incontinence products, sustaining the SAP market.
- Water-Based Coatings: Environmental regulations (such as VOC limits in China and Europe) are forcing a switch from solvent-based to water-based paints. This directly benefits Acrylate Esters, which are the primary binders in waterborne emulsions.
Challenges:
- Overcapacity and Margin Compression: The aggressive capacity expansion in China (reaching >4.5M tons) has created a global surplus. This puts downward pressure on prices and margins, forcing higher-cost producers (like those in Japan) to rationalize or exit.
- Raw Material Volatility: The market is susceptible to energy shocks. Fluctuations in propane and propylene prices can erode margins rapidly, especially for non-integrated producers.
- Technological Disruption: If the "direct propane oxidation" technology (as invested in by Ningbo Changhong) proves viable and scalable, it could render older propylene-oxidation plants economically obsolete due to the cost advantage of skipping the propylene step.
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Table of Contents
Chapter 1: Executive SummaryChapter 2: Abbreviation and Acronyms
Chapter 3: Preface
Chapter 4: Market Landscape
Chapter 5: Market Trend Analysis
Chapter 6: Industry Chain Analysis
Chapter 7: Latest Market Dynamics
Chapter 8: Trading Analysis
Chapter 9: Historical and Forecast Acrylic Acid Market in North America (2021-2031)
Chapter 10: Historical and Forecast Acrylic Acid Market in South America (2021-2031)
Chapter 11: Historical and Forecast Acrylic Acid Market in Asia & Pacific (2021-2031)
Chapter 12: Historical and Forecast Acrylic Acid Market in Europe (2021-2031)
Chapter 13: Historical and Forecast Acrylic Acid Market in MEA (2021-2031)
Chapter 14: Summary for Global Acrylic Acid Market (2021-2026)
Chapter 15: Global Acrylic Acid Market Forecast (2026-2031)
Chapter 16: Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- BASF
- Dow
- Arkema
- Nippon Shokubai
- LG Chem
- Formosa Plastics Corp.
- Stockhausen
- Synthomer
- Sasol
- Indian Oil Corporation Limited
- Bharat Petroleum Corporation Ltd (BPCL)
- Mitsubishi Chemical
- Toagosei
- Tasnee
- Shanghai Huayi Group
- Wanhua Chemical Group
- Satellite Chemical Co. Ltd.
- Jiangsu Sanmu Group
- CNOOC Huizhou Petrochemical Co. Ltd.
- Shandong Hongxin Chemical Co. Ltd.
- Shandong Kaitai Petrochemical Co. Ltd.
- Zibo Qixiang Tengda Chemical Co. Ltd.
- Wanzhou Petrochemical (Jiangsu) Co. Ltd.
- PetroChina Lanzhou Petrochemical Co. Ltd.
- Fujian Binhai Chemical Co. Ltd.
- Shandong Nuoer Biological Technology Co. Ltd.
- Tianjin Bohai Chemical Co. Ltd
