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July 24, 2023Global market snapshot: Acrylic acid
Acrylic acid and its derivative esters are among the most versatile monomers for providing performance properties to a wide variety of polymers.
While a relatively large portion of acrylic acid is consumed in the production of acrylate esters, a significant quantity is upgraded (purified) into glacial acrylic acid and subsequently utilized for the production of polyacrylic acid or copolymers, which find applications in super absorbent polymers (for disposable diapers), detergent co-builders, dispersants, flocculants, and thickeners. These end uses are providing growth for acrylic acid as there is currently little substitution threat from other polymers. Another important use for polyacrylic acid is in detergents; as a builder replacing phosphates or as a soil anti-redeposition agent competing with sodium carboxymethylcellulose.
The demand for acrylic acid into acrylate esters is heavily influenced by GDP growth, especially in the construction and automotive sectors. Butyl acrylate is expected to have higher demand growth rates compared to super absorbent polymer and other acrylate esters. Butyl acrylate is mostly used in coating applications and is the most versatile acrylate, providing a soft and flexible film on finished products. Adhesives and resin modifiers are the next largest applications for butyl acrylate. The limit on VOC emissions in developed countries has led to a rise in the use of water-based paints over solvent-based paints. This has created opportunities for increased consumption of acrylates, in particular butyl acrylate and 2-ethylhexyl acrylate.
While the super absorbent polymers market is mature in North America, Western Europe, Japan, and South Korea, capacity development is still ongoing, mainly to target export markets like Central Europe, Eastern Europe, the Middle East, and Africa. Emerging countries such as Brazil, the Middle East, China, and Indonesia have also expanded their super absorbent polymer capacity to meet local demand.
Global acrylic acid consumption is estimated to be 7.0 million tons in 2022, an increase of about three percent from 2021. Most of the growth in acrylic acid is driven by Asia Pacific, more specifically, North-East Asia - China. Short term demand growth globally is expected to be around 3 percent until 2025, underpinned by Asia Pacific growth. Short-term capacity addition is also expected to be focused in the Asia Pacific region due to lower feedstock cost. By 2025, acrylic acid capacity is expected to reach almost 10 million tons per year, following announcements from companies such as Zhejiang Satellite, Huayi Group in China, Bharat Petroleum in India, and Nippon Shokubai in Indonesia.
Find out more…
- Market Analytics: Acrylate Esters – 2023
- Market Analytics: Acrylic Acid - 2023
- Market Analytics: Super Absorbent Polymers (SAP) – 2023
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