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Market expected to grow over 5% annually as demand from end-use markets of acrylic acid like baby and adult diapers rises.
March 31, 2016
By: Tara Olivo
Associate Editor at Nonwovens Industry
Research and Markets has announced the addition of the “Acrylic Acid Market by Derivative by Applications & Region – Global Forecast to 2020” report to its offering. The global acrylic acid market size is estimated to reach $13.21 billion by 2020 at a CAGR of 5.2% between 2015 and 2020. According to the report, the drivers of the industry are identified as rising demand for acrylic acid derivatives in the emerging markets, and high demand from end-use industries of acrylic acid. Increasing demands from end-use applications and newer applications due to extensive R&D are the major driving force for strategic expansions. The acrylic acid market is expected to witness a steady growth over the forecast period as economies around world accelerate. The market for acrylates and SAP is rapidly expanding with increasing demand from existing and emerging end-use applications such as diapers and surface coatings, which are the largest applications of acrylic acid. Growing popularity of SAP and increasing use of commodity acrylates in various applications play a significant role in driving the market. The property of SAP to absorb and retain water makes it a material of choice in baby and adult diapers. Mature markets for acrylic acid that include North America and Europe have increasing number of adult population, driving the adult diapers market in the regions. Japan also has a large number adult population for which the country remains a major consumer of SAP for the making diapers. The acrylic acid industry is seeing high growth in Asia-Pacific, with increasing consumption of acrylic derivatives in surface coatings, adhesives & sealants, and diapers. Water-borne coatings are made using acrylics as binders. The shift toward water-borne coatings from solvent-based coatings is the significantly driving the acrylic acid market in surface coatings globally. In 2014, Asia-Pacific was the largest market for acrylic acid. The region is projected to register the highest growth rate, both in terms of value and volume, owing to high demand from emerging countries of the region. China is the largest market for acrylic acid globally with high demand. In the last several years, the SAP market has seen significant global investments as major manufacturers prepare themselves for growth of hygiene markets globally.
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