Acrylic Acid Market to Reach Valuation of $19,509.4 million by 2022
Pune, Maharashtra, India, December 16 2020 (Wiredrelease) Allied Analytics :According to the report, the global acrylic acid market generated $13.28 billion in 2016 and is expected to garner $19.51 billion by 2022, registering a CAGR of 6.6% from 2016 to 2022.
Advent of multi-material, full color, solar-powered and portable 3D printing, and rise in investment in RD activities by public and private organizations have boosted the growth of the global acrylic acid market. However, the high cost associated with advanced 3D printers, lack of both structured regulatory frameworks reimbursement policies, and copyright patent issues regarding 3D printing hamper the market growth. On the contrary, increasing set of available and biocompatible materials, rise in global geriatric population, and surge in number of patients with auditory loss dental problems are expected to create lucrative opportunities in the near future.
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The global acrylic acid market is divided on the basis of derivative types, end users, and geography. Based on derivative types, the market is segmented into acrylic esters, acrylic polymers, and other derivatives. The acrylic polymers segment dominated the market in terms of revenue in 2016, contributing more than two-fifths of the market. Moreover, the segment is estimated to register the fastest CAGR of 6.9% during the forecast period.
On the basis of end user, the market is bifurcated into diapers, surface coating, adhesives and sealants, plastic additive industry, water treatment, textiles, surfactants, and others. The diapers segment held the largest share in 2016 and is expected to continue its dominance throughout the study period. Moreover, the segment is projected to register the fastest CAGR of 7.7% during the forecast period.
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across the Asia-Pacific region held the largest share in 2016, contributing nearly half of the total market share. However, the market across LAMEA is projected to portray the fastest CAGR of 7.2% during the forecast period.
The global acrylic acid market report provides an in-depth analysis of the major market players such as BASF SE, The Dow Chemical Company, Lubrizol Corporation, Arkema SA, Evonik Industries Ag, LG Chem Ltd., Myriant Corporation, SIBUR, Hexion Inc., and SunVic Chemical Holdings Limited.
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