Acrylic Acid Market Expected To Reach USD 20.8 Billion in 2033, Set To Surge With a 4.4% CAGR

Introduction

The global Acrylic Acid Market, valued at approximately USD 13.5 Billion in 2023, is anticipated to grow to USD 20.8 Billion by 2033, marking a steady CAGR of 4.4% over the forecast period. This growth is primarily driven by the extensive use of acrylic acid in superabsorbent polymers, which are essential in hygiene products like diapers and feminine care items. Additionally, its application in paints, coatings, adhesives, and textiles is propelling market demand, supported by sectors such as automotive, construction, and personal care where acrylic acid’s durability and bonding qualities are indispensable.

Key growth factors include the rising demand for water-based coatings and eco-friendly adhesives, particularly due to increasing regulatory pressures on volatile organic compounds (VOCs) emissions. Technological advancements, such as the development of biodegradable acrylic polymers, are expected to open new market opportunities, addressing environmental concerns and expanding usage across industries.

Asia-Pacific, especially China and India, represents the largest market due to rapid industrialization, while North America is expected to see strong growth in response to demand in end-use sectors like water treatment and personal care. As the industry continues to expand, challenges such as fluctuating raw material prices and compliance with stringent environmental regulations persist. However, investments in research and development are helping to mitigate these hurdles by advancing product innovations and compliance strategies.

Key Takeaways

• Market Growth: The Acrylic Acid Market is projected to grow substantially, reaching around USD 20.8 Billion by 2033 from USD 13.5 Billion in 2023, indicating a CAGR of 4.4%. This growth is driven by various industries, including animal feed.
• Derivative Use: Acrylic esters held the largest market share in 2023 (64.5%), displaying their versatile nature across industries.

Acrylic Acid Statistics

• The pKa value of acrylic acid is around 4.25. Stronger acids are indicated by lower pKa values, whilst weaker acids are indicated by higher values.
• Precipitation polymerization was used to isothermally polymerize acrylic acid in toluene at different doses of initiator and monomer over a temperature range of 40°C to 50°C.
• With an activation energy of 21.49 kcal/mol, the temperature dependency on the rate of precipitation polymerization follows an Arrhenius equation.
• The values of 23.5 and 22.0 kcal/mol found in the literature for the solution polymerization of partly neutralized acrylic acid (pH=11) and undissociated acrylic acid (pH=1), respectively, are in good agreement with this result.
• In 1988, 1.44×105 tons of polyacrylic acid were produced globally.
• Using 2,2′-azobis (2,4-dimethyl valeronitrile) as an initiator, polyacrylic acid was created via isothermal precipitation polymerization over a temperature range of 40°C to 60°C.
• In April 2019, the price of acrylic acid (United States) rose to 1,880 USD per metric ton, a minor 3% increase over the previous month.
• The cost of acrylic acid in the United States rose by 30% on an annual basis.
• Every month, the cost of Acrylic Acid (China) is 9% more than it was the previous month.
• The price has dropped by 5% from the previous month’s average and by 12% from the previous year’s average.
• In April 2019, however, the price of Acrylic Acid (Europe) dropped sharply to 1,050 USD per metric ton, a decrease of 11% from the previous year and 8% from the previous month.
• In commercially available acrylic acid, the typical inhibitor concentration is 180–220 ppm MEHQ (hydroquinone monomethyl ether), stabilized by dissolved oxygen.
• Consequently, it is important to maintain an environment with 5 to 21% oxygen above acrylic acid because pure oxygen could create a fire hazard.
• The two primary types of acrylic acid are glacial (polymer grade, often with a minimum purity of 99.6%) and ester-grade (technical grade, around 94% purity).

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Emerging Trends

• The acrylic acid market is experiencing notable emerging trends, largely driven by shifting consumer and regulatory demands. One key trend is the increasing preference for bio-based acrylic acid as companies invest in sustainable solutions to meet growing environmental standards. This shift addresses consumer and regulatory pressures for eco-friendly materials, as bio-based alternatives reduce reliance on petrochemicals in applications across adhesives, coatings, and personal care products.
• Another major trend is the rising demand for superabsorbent polymers (SAPs), particularly in personal care items like diapers and feminine hygiene products, due to SAPs’ superior water-absorbent properties. This demand is especially high in developing regions where population growth and urbanization are creating expanded markets for these products.
• The construction and coatings sectors are also key drivers of growth. Acrylic esters, used extensively in paints and coatings, are valued for their durability and resistance to weathering, making them critical for construction and infrastructure projects worldwide. The increased use of water-based adhesives and coatings aligns with the regulatory focus on reducing volatile organic compounds (VOCs), further boosting demand for acrylic acid derivatives that support these formulations.
• Geographically, Asia-Pacific dominates the market, driven by rapid industrialization in countries like China and India. The region’s demand is expected to grow as industrial activities expand, supported by investments in local production capacities and increased usage across key applications like paints, adhesives, and personal care products. These trends collectively point to a dynamic market that is both adapting to sustainable practices and capitalizing on high-demand applications in growing economies.

Use Cases

• Superabsorbent Polymers (SAPs): Over 25% of acrylic acid produced in the U.S. is directed toward SAPs, which are widely used in personal care items like diapers, incontinence products, and feminine hygiene products. SAPs have remarkable liquid absorption capabilities, with demand particularly high in developing countries due to increasing usage of disposable hygiene products.
• Adhesives and Sealants: Acrylic acid is essential in producing acrylate esters like butyl and ethyl acrylates, used extensively in adhesives and coatings. This segment benefits industries such as construction and automotive, where durable and weather-resistant materials are critical. The adhesives and sealants sector leverages these properties for strong bonding and surface protection.
• Water Treatment: Acrylic acid derivatives, particularly in the form of polymers, are used as co-builders in detergents and water treatment chemicals. These polymers improve the efficiency of water purification systems by assisting in sedimentation and flocculation processes, making acrylic acid vital in municipal and industrial water treatment.
• Paints and Coatings: Acrylate esters derived from acrylic acid contribute to surface coatings, providing durability, UV resistance, and color stability, essential for outdoor and automotive applications. This sector accounted for a significant share in 2023 and is expected to grow as demand for eco-friendly, water-based coatings rises globally.

Key Players Analysis

BASF SE is a major player in the acrylic acid sector, producing substantial volumes of acrylic acid and its derivatives, such as acrylate esters, which are essential in manufacturing adhesives, coatings, and superabsorbent polymers (SAPs) used in personal care products. BASF’s large-scale facilities in regions like Zhanjiang, China, are expanding production capacities to meet rising global demand, especially in Asia-Pacific. The company also prioritizes sustainability, investing in bio-based and low-emission production methods to address regulatory and environmental concerns.

Arkema has strengthened its presence in the acrylic acid sector with significant investments in sustainable production and capacity expansion. At its Clear Lake, Texas facility, Arkema invested $90 million to replace outdated reactors with a new, advanced 90,000-ton unit, enabling it to better meet North American demand in key markets like superabsorbents, adhesives, and water treatment. Additionally, the company achieved ISCC+ certification for its Taixing, China facility, supporting Arkema’s shift toward bio-attributed and sustainable acrylic materials, which cater to environmentally conscious industries globally.

Nippon Shokubai Co. Ltd. is a key player in the acrylic acid sector, leveraging its extensive production capabilities to support growing global demand, especially in superabsorbent polymers (SAPs) for hygiene products. The company recently inaugurated a new acrylic acid facility in Indonesia with a production capacity of 100,000 metric tons per year, raising its global production capacity to nearly 980,000 metric tons. This strategic expansion aligns with increasing demand from applications in paints, adhesives, and disposable products, positioning Nippon Shokubai as a top SAP supplier worldwide due to its integrated production model from acrylic acid to SAP.

LG Chem is a significant player in the acrylic acid sector, leveraging advanced technologies and partnerships to strengthen its position. The company operates a large-scale acrylic acid production facility in Yeosu, South Korea, with a capacity of over 160,000 tons annually, supported by Sulzer’s purification technologies to enhance product quality. Additionally, LG Chem has partnered with Archer Daniels Midland (ADM) to develop bio-based acrylic acid, aiming to create sustainable alternatives for superabsorbent polymers (SAPs) used in hygiene products like diapers. This expansion reflects LG Chem’s commitment to both capacity growth and sustainable innovation.

The Dow Chemical Company plays a significant role in the acrylic acid sector, focusing on producing and advancing acrylate esters, which are key ingredients in adhesives, coatings, and sealants. Dow’s initiatives in this sector include partnerships to enhance sustainable production, as seen in its collaboration with Danapak Flexibles to develop eco-friendly solutions for packaging. Additionally, Dow has worked on innovations that expand acrylic acid applications, particularly in high-demand markets like hygiene products and coatings, reflecting the company’s commitment to addressing both industrial and consumer needs sustainably.

Shanghai Huayi Acrylic Acid Co. Ltd. (SHAA), a subsidiary of Shanghai Huayi Group, is one of China’s largest manufacturers of acrylic acid and its derivatives. With an annual production capacity of 230,000 tons for acrylic acid and 270,000 tons for acrylates, the company plays a pivotal role in supplying high-quality acrylic acid for industries like adhesives, coatings, and superabsorbent polymers. SHAA emphasizes innovation and quality, leveraging its state-owned backing to enhance production efficiency and meet growing global demand in the chemicals sector.

Merck KGaA operates in the acrylic acid sector, primarily focusing on high-quality acrylic acid used in a variety of applications like superabsorbent polymers (SAPs) for hygiene products and specialty polymers for coatings and adhesives. Their emphasis lies in integrating sustainable practices, including exploring bio-based acrylic acid solutions and adopting environmentally friendly production methods to reduce VOC emissions. Merck’s activities align with the growing demand for durable, eco-friendly materials across industries, supporting the expansion of acrylic acid applications globally in personal care, construction, and water treatment sectors.

Mitsubishi Chemical Corporation (MCC) plays a significant role in the acrylic acid industry through its proprietary technology for producing acrylic acid (AA) and acrylic esters (AE), widely used in adhesives, coatings, and superabsorbent polymers (SAP) for hygiene products. With a focus on sustainable, high-yield processes, MCC’s technology is designed to minimize waste and energy usage. Their plants, like the one in Yokkaichi, Japan, leverage advanced oxidation catalysts and specialized reactors to enhance efficiency and safety, ensuring reliable, low-cost production that supports expanding global demand for AA and AE applications.

Sasol Limited plays a significant role in the acrylic acid sector, primarily through the production of high-purity glacial acrylic acid and its derivatives, such as ethyl and butyl acrylates. These compounds are essential for waterborne coatings, adhesives, and superabsorbent polymers used in applications ranging from hygiene products to water treatment. Sasol’s advanced acrylic acid complex in Sasolburg, South Africa, produces around 80,000 tons of crude acrylic acid annually, serving both domestic and international markets in Asia, Africa, and Latin America. This facility underscores Sasol’s commitment to meeting the rising global demand for versatile acrylic acid applications.

Formosa Plastics Corporation (FPC) plays a substantial role in the acrylic acid market, primarily serving the plastics, adhesives, and textile industries with its comprehensive production capabilities. At its large-scale petrochemical plants, including major facilities in China, FPC produces various acrylic acid derivatives such as acrylates used extensively in paints and coatings, adhesives, and superabsorbent polymers for hygiene products. These investments, including a reported $2 billion in Ningbo, China, strengthen FPC’s presence in the growing Asian market while supporting demand for high-performance and durable acrylic-based products.

Cargill, Incorporated is advancing the production of bio-based acrylic acid through a collaborative effort with IFP Energies nouvelles (IFPEN) and Axens. This partnership focuses on scaling Procter & Gamble’s lactic-to-acrylic acid technology, which Cargill exclusively licensed. The process aims to produce acrylic acid from renewable sources, significantly reducing greenhouse gas emissions by over 50% compared to petrochemical methods. Applications for this bio-based acrylic acid include superabsorbent polymers used in hygiene products and sustainable alternatives for paints, supporting Cargill’s commitment to eco-friendly solutions in industrial materials.

SNP Inc. operates in the acrylic acid sector, focusing on innovative polymer solutions like ethylene acrylic acid (EAA) copolymers and acrylic/SB emulsions. These products are essential in applications requiring strong barrier properties against moisture, grease, and oil, making them ideal for food packaging, printing, and coatings. SNP’s EAA copolymers are also notable for their adhesion and durability, serving as primers in digital printing and flexible packaging. With a strong emphasis on custom formulations, SNP tailors its products to meet diverse industrial needs across food, textiles, and packaging.

The Lubrizol Corporation, a significant player in the acrylic acid sector, recently invested $20 million in its North Carolina facility to enhance the production of acrylic emulsions. These emulsions are crucial in various applications, including coatings for paper, textiles, and construction materials. Lubrizol’s focus on innovation is evident in its advanced emulsion technologies, which offer UV resistance, durability, and low volatile organic compound (VOC) levels, aligning with eco-friendly trends. This investment also emphasizes operational safety and efficiency, reinforcing Lubrizol’s commitment to sustainable and high-performance products in the coatings market.

Ashland plays a key role in the acrylic acid sector, focusing on the production of polyacrylic acid (PAA) polymers used extensively in personal care, water treatment, and industrial applications. Its Conditioneze series, a line of acrylic-based conditioning polymers, is widely used in hair and skincare products due to its excellent stability across pH levels, making it ideal for shampoos and conditioners. Additionally, Ashland emphasizes eco-friendly formulations, responding to growing demands for sustainable products across the industry.

Kemira Oyj plays a pivotal role in the acrylic acid sector, leveraging its chemistry expertise to deliver sustainable and efficient solutions across industries like water treatment and pulp & paper. Acrylic acid derivatives are particularly utilized in water treatment polymers, which help manage water quality in industrial and municipal applications. With sustainability as a core focus, Kemira emphasizes bio-based and renewable chemistries, aligning with increasing demand for eco-friendly solutions. The company’s strong portfolio in resource-efficient products supports its growth trajectory, with over EUR 3.4 billion in revenue reported in 2023.

Conclusion

The acrylic acid market shows strong growth potential, driven by expanding applications across key industries, including construction, personal care, and automotive. As of 2023, the global market was valued at around USD 13.5 billion, with projections suggesting it will reach approximately USD 20.8 billion by 2033, growing at a steady CAGR of 4.4% over the forecast period. This growth is largely supported by increased demand for superabsorbent polymers (SAPs) in personal hygiene products, as well as the extensive use of acrylic acid derivatives in adhesives, coatings, and textiles.

Key growth factors include technological advancements, which are allowing for the development of bio-based acrylic acid and eco-friendly polymers, meeting both regulatory demands and consumer preferences for sustainable solutions. Asia-Pacific leads the market, particularly with high demand in China and India, where industrial applications in paints and coatings continue to expand. While North America and Europe also show demand in sectors like construction and healthcare, the market faces challenges from raw material price fluctuations and stringent environmental regulations, which influence production costs and push for innovation in sustainable manufacturing.

The future of the acrylic acid market is promising, with opportunities for further expansion in emerging markets and potential innovations in biodegradable products that align with global sustainability goals. As industry participants adapt to these trends, the market is poised to maintain robust growth through diversified applications and enhanced production technologies. This growth trajectory highlights the market’s resilience and adaptability amid shifting industrial and environmental landscapes.

Sources:

• https://study.com/academy/lesson/what-is-acrylic-acid-formula-properties-structure.html
• https://www.sciencedirect.com/science/article/abs/pii/S0032386198008362
• https://www.intratec.us/chemical-markets/acrylic-acid-price