The Global Bio Acrylic Acid Market Size is valued at 6.79 billion in 2023 and is predicted to reach 12.37 billion by the year 2031 at an 7.79% CAGR during the forecast period for 2024-2031.
The sectors of thermoplastics, and paints & coatings are the main consumers of bio acrylic acid as a raw ingredient. Many items must be made with bio-acrylic acid, including thin sheets, plastic extruder tubes, molded goods, paints, and other dangerous chemicals. The industry has tremendous potential in various applications, including paints, surface treatments, emulsion sealants, and sealants.
In the bio acrylic acid market, increased global manufacturing revenue growth has a substantial impact, and new product creation and innovation are creating more growth potential. Additionally, there is a rising demand for bio acrylic acid from the plastics industry throughout the projection period as a result of AEM's increased qualities, such as robustness and resistance, among others.
Furthermore, due to government restrictions, businesses are required to treat the effluent before discharging it into the oceans and oceans, which raises demand for gel electrophoresis and, in turn, positively affects the bio acrylic acid market indirectly. The market is anticipated that increasing the use of bio acrylic acid in substitution of PVA and vinyl acetate would result in lucrative market prospects.
Further, expanding need for water treatment applications is anticipated to boost market expansion. The market for bio acrylic acid has grown significantly during the analysis due to the surge in consumption of methacrylate-based polymers used to manufacture lighting fixtures, glass, vehicle rear lights, and electronic displays.
Recent Developments:
- In March 2021-In order to produce next-generation acrylic dispersions, the German multinational chemical corporation BASF SE began operating a new production line. The cutting-edge plant will create acrylic dispersions for the Asia Pacific coatings, construction, adhesives, and packaging markets.
Competitive Landscape:
Some of the Bio acrylic acid market players are:
- BASF SE
- China Petroleum & Chemical Corporation (SINOPEC)
- Arkema S.A
- Mitsubishi Chemical Holdings Corporation
- The Dow Chemical Company
- The Lubrizol Corporation
- Evonik Industries AG
- PTTGC Innovation America Corporation
- Formosa Plastics Corporation
- SIBUR International GmbH
Market Segmentation:
The bio acrylic acid market is segmented based on derivative products and applications. Based on derivatives, the market is segmented as methyl acrylate, butyl acrylate, ethyl acrylate, 2-Ethylhexyl acrylate, glacial acrylic acid, and super absorbent polymers. The bio acrylic acid market is segmented by application into paints and coatings, adhesives and sealants, surfactants, sanitary products, textiles, and other applications.
Based On Derivation, The Butyl Acrylates Segment Is A Major Contributor To The Bio Acrylic Acid Market
The butyl acrylates category will hold a major share of the global bio acrylic acid market. butyl acrylate, often known as butyl acrylate, is a liquid form of bio-acrylic acid with a distinct, spicy aroma and colorlessness. N-butyl acrylate creates all-acrylic, vinyl acrylic, and styrene acrylic copolymers. Water resistance and exceptional durability at low and high temperatures are features of n-butyl acrylate. N-butyl acrylate is used in various industrial applications, including polymer molding, building and vehicular paints and coatings, leather, textile, and glues and sealants.
The Paints And Coatings Segment Witnessed Growth At A Rapid Rate
The paints and coatings segment is projected to grow rapidly in the global bio acrylic acid market. For the production of long-lasting both interior and exterior paints, bio acrylic acid is widely utilized in paints and coatings. Bio acrylic acid is a chemical molecule that increases paints' and coatings' color stability and durability. Due to its superior weather and dirt resistance, bio acrylic acid is the ideal raw material for creating emulsion paints and coatings, beautifying and protecting the outside walls of structures. Leading paints and coatings manufacturers produce emulsion paints and coatings, including PPG Industries, BASF Coatings, Kansai Paint, and others. As building and infrastructure development increase, so does the consumption of defensive and durable paints, supporting the segment's revenue growth.
The North American Bio Acrylic Acid Market Holds A Significant Regional Revenue Share
The North America bio acrylic acid market is expected to register the highest market share in revenue shortly. Ising derivatives consumption in surfactants, coatings, personal care goods, and adhesives is anticipated to propel regional expansion. Additionally, additional demand for bio acrylic acid is anticipated due to product innovation in organic chemicals, including bio-bio acrylic acid, bio-acrylonitrile, and bio-1,4-butanediol using renewable carbon. The demand for adult incontinence products in the United States and Canada is expected to rise, resulting in higher SAP use. In addition, Asia Pacific is projected to grow rapidly in the global bio acrylic acid market. The primary reasons supporting the revenue growth of the bio acrylic acid market in the area are the increasing employment of bio acrylic acid for domestic demand of the polymers, paints, and coating industries. Additionally, the growing use of bio acrylic acid in vehicular emulsion coatings contributes to regional revenue development.
Bio Acrylic Acid Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 6.79 Bn |
|
Revenue forecast in 2031 |
USD 12.37 Bn |
|
Growth rate CAGR |
CAGR of 7.91% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, Volume (Kilotons), and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Derivative Products And Applications |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
BASF SE, China Petroleum & Chemical Corporation (SINOPEC), Arkema S.A, Mitsubishi Chemical Holdings Corporation, The Dow Chemical Company, The Lubrizol Corporation, Evonik Industries AG, PTTGC Innovation America Corporation, Formosa, Plastics Corporation and SIBUR International GmbH |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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