Acrylic Acid Industry - Regional Synopsis
Asia Pacific Market Analysis
The Asia Pacific in acrylic acid market is anticipated to account for around 38.2% revenue share by 2037. due to rapid industrialization, urbanization, and growing demand for superabsorbent polymers (SAP) in personal care products. China, India, and Southeast Asian countries are witnessing high growth as a result of growing consumption in construction, adhesives, and hygiene applications. The transition towards environmentally friendly, water-based products in paint and coatings also drives market growth. The issues of varying raw material prices and costly transportation continue to persist.
China is expected to maintain the largest revenue share in the APAC market through 2037. The installed capacity of the country went up from 3,030 kilotons in 2016 to 3,650 kilotons in 2021 and is expected to exceed 4,500 kilotons. The major players are Zhejiang Satellite Acrylic and Taixing Sunke Chemicals, both with capacities of 480 kilotons. It is fueled by increasing demand for superabsorbent polymers in personal care products and growth in the construction sector.
India is anticipated to have the highest CAGR in the market between 2025-2037. The demand of the country is progressing towards more than 400 kilotons by 2032. This is driven by the addition of new acrylic acid capacities, including Bharat Petroleum's 160 kiloton/year plant in 2021 and Indian Oil Corporation's upcoming 90 kiloton/year facility by 2024. Rising demand in the construction, personal care, and other application industries, along with government initiatives to curb import reliance, are major drivers of this fast-paced growth.
North America Market Analysis
The North American acrylic acid market is expected to keep expanding with an estimated CAGR of 3.7–4.4% by 2037 based on strong industrial demand and advanced manufacturing infrastructure. Growing demand for superabsorbent polymers used in adult incontinence devices and diapers continues to propel the application of acrylic acid. Companies are putting more focus on sustainability. Dow Chemicals increased acrylic acid production capacity at its Texas plant in 2020-2021 to meet rising demand while prioritizing environmental concerns.
The U.S. has an excellent research and development infrastructure that ensures high-quality output while adhering to safety requirements. In 2022, the U.S. federal government expended $6.4 trillion, of which $911 billion was attributed to non-defense discretionary spending (including department and agency appropriations such as for the EPA and DOE). The U.S. Department of Energy, in 2024, made a record $6.1 billion investment in 34 industrial projects in 19 states to lower carbon emissions. The Green Chemistry Challenge Awards by the EPA acknowledge new and innovative chemical technologies that lower or replace hazardous substances. In 2023, the University of Michigan created procedures for upgrading agricultural waste into material for lithium-ion batteries. This was an instance of sustainable chemical processes.
In Canada government revealed huge investments in 2023 for supporting the manufacturing of chemicals and clean energy. The budget reserved at least $20 billion for green infrastructure and clean energy projects in 2023 through the Canada Infrastructure Bank. In addition, a refundable 30% tax credit was provided for new equipment and machinery that is utilized to manufacture or process significant clean technologies. These policies aim to encourage the establishment of clean technology manufacturing, including chemical manufacturing like acrylic acid market.
