Acrolein Market Trends

Growth Drivers

• Growing Demand for Acrylic Acid and its Derivatives: Acrolein is used in the production of acrylic acid and its derivatives such as acrylic esters and superabsorbent polymers. The demand for these products is increasing owing to their widespread usage in various industries such as adhesives, coatings, and textiles. According to a report, the global industry for acrylic acid and its derivatives accounted for nearly USD 9.8 billion in the year 2020.
• Increasing Demand for Personal Care Products: Acrolein is used in the production of personal care products such as perfumes, deodorants, and hair sprays. The demand for personal care products is increasing owing to rising consumer awareness about personal hygiene and grooming, particularly in emerging economies. According to a report, the global beauty and personal care industry accounted for nearly USD 500 billion in the year 2020.
• Growing Demand for Biocides and Herbicides: Acrolein is used as a key intermediate in the production of biocides and herbicides, which are widely used in agriculture and water treatment. According to a report, there are now over 600 confirmed cases of herbicide-resistant weeds worldwide, with the highest number of cases reported in the United States, Australia, and Brazil.
• Growing Demand for Food Preservatives: Acrolein is used as a food preservative owing to its antimicrobial properties. The demand for food preservatives is increasing owing to the growing demand for processed foods, changing dietary habits, and increasing concerns about food safety. According to a report by the World Health Organization, the consumption of processed food has increased in both developed and developing countries, with processed food accounting for up to 60% of daily caloric intake in some countries.
• Rise in Research Spending – Growth in the global market during the forecast period can be further attributed to increased investment in research and development activities to continuously find more viable solutions for acrolein. Research reports show that global R&D spending has more than tripled in real terms since 2000, rising from about USD 680 billion to more than USD 2.5 trillion in the year 2019.

Challenges

• Health concerns associated with acrolein: Acrolein is a highly toxic and volatile compound that can cause irritation to the eyes, skin, and respiratory system. Exposure to acrolein has also been linked to various health concerns such as cancer, respiratory diseases, and cardiovascular diseases. These health concerns could lead to regulatory challenges and could impact the demand for acrolein in certain end-use industries.
• Availability of alternative compounds
• Fluctuations in raw material prices