Acrylic Acid Market Trends

Growth Drivers

Rapid Expansion in Urbanization: Globally, 55% of people lived in cities in 2018, and 68% are expected to do so by 2050. The urbanization rate is rising as more individuals are showing the tendency of moving to urban areas. As a result, the demand for antimicrobial and antiviral coating resins, where acrylic acid is widely used for different construction activities, has grown.
Shifting Consumer Preferences: Increasing consumer awareness about sustainable and eco-friendly products was leading to a growing preference for products made from bio-based or renewable sources, including acrylic acid.
Technological Advancements: Investments in research and development in the chemical industry were projected to increase, fostering innovation and technological advancements.

Challenges

Raw Material Price Volatility: Acrylic acid is primarily produced from propylene, which is a petrochemical feedstock. The volatility in the prices of propylene and other raw materials can significantly impact the production costs of acrylic acid and its derivatives.
Environmental Concerns
Competition from Substitutes

Acrylic Acid Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	8.2%
Base Year Market Size (2024)	USD 11.76 billion
Forecast Year Market Size (2037)	USD 33.04 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of acrylic acid is assessed at USD 12.54 billion.

The acrylic acid market size was over USD 11.76 billion in 2024 and is poised to reach USD 33.04 billion by the end of 2037, witnessing around 8.2% CAGR during the forecast period i.e., between 2025-2037. Increasing demand for automotive will drive the market growth.

North America industry is projected to hold the second-largest share by 2037, impelled by significant demand for acrylic acid-based adhesives and coatings in the region.

The major players in the market include BASF SE, Dow Chemical Company, Nippon Shokubai Co., Ltd., Arkema S.A., LG Chem Ltd., Mitsubishi Chemical Corporation, Evonik Industries AG, Hexion Inc., Formosa Plastics Corporation, Momentive Performance Materials Inc.

Acrylic Acid Market Trends