Acrylic Acid Market Key Players:
Acrylic Acid Market Includes: BASF SE, The Dow Chemical Company, Arkema SA, Evonik Industries, Nippon Shokubai Co. Ltd, PJSC Sibur Holding, LG Chemicals, Taixing Jurong Chemical Co Ltd, Mitsubishi Chemical, Shenyang Chemical Co Ltd and Hexion Inc.
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Acrylic Acid Market Segmental Analysis:
By application, the market is segmented into surface coatings, adhesive & sealants, agriculture, plastic sheets, diapers, cement modifiers, and others. Among these, the diapers segment accounted for the maximum market share in 2015 and is expected to exhibit substantial growth over the assessment period. The factors responsible for encouraging the proliferation of the segment include growing attention towards baby hygiene, increasing disposable income, and rapid urbanization.
MRFR’s report offers a detailed segmental analysis of the market based on type and application. By type, the acrylic acid market has been segmented into superabsorbent polymers, methyl acrylate, ethyl acrylate, water treatment polymers, 2-ethylhexyl acrylate, elastomers, butyl acrylate, and others. Among these, the superabsorbent polymers segment held the most significant share of the market in 2015. It is likely to retain a prominent share of the market during the forecast period thriving at a healthy CAGR. The growth is attributable to the increasing demand for the production of diapers, female hygiene products, and agricultural products.
Acrylic Acid Market Regional Analysis:
Asia Pacific is the largest and the fastest growing industry for acrylic acid. Countries like China, Thailand India, and Indonesia are expected to rise at very fast pace due to spending on R&D along with economic development. Robust industry growth and extensive demand of acrylic acid in surface coatings and diapers is driving the regional market growth. Favourable government regulations and growing agriculture expenditure in China and India is anticipated to drive the market growth. China is one of the major construction industry in Asia Pacific. Rising infrastructural development especially for tourism and easy trading activities is likely to boost the acrylic acid market. China was accounted for the biggest market share of 58.00% in 2014, with the value in market of USD 2,635.5 Million and is aimed to grow at the rate CAGR of 5.53% during the forecast time period.
With the upcoming infrastructural projects such as metro rails and railway tracks along with wind energy farms, the country is set to a strong development in the adhesives industry over the next upcoming five years. The manufacturing sector is still growing and its growth is directly aligned with the country’s manufacturing growth. Now North America and European regions are facing big competition from emerging markets.
Acrylic Acid Market Competitive Analysis:
Acrylic Acid Market appears to be highly fragmented and competitive owning to the presence of numerous large and small players active in regional market. Majority of the company participants in the acrylic acid market has adopted the strategy named acquisition, agreement, collaboration, expansion, investment, partnership, product launch, and regulations. As the propylene price are increasing and the supply is diminishing rapidly, companies are trying to collaborate with propylene raw material suppliers and innovating new product such as bio acrylic acid in order to avoid raw material hassles. With advanced technology and innovative products offerings, manufactures are maintaining sustainable profits across the value chain. Major companies are extending their market share through expansion and agreement with distributors to meet the global demand.
Acrylic Acid Market Highlights:
Acrylic Acid Market is aimed to grow with the CAGR 5.14 % rate of more than from 2018 to 2022, and because of this, it is predictable to cross USD 18,315 Million by 2022.
Acrylic Acid Market Table of Content to be Continue……,
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