Acrylic Acid Market To Reach USD 20.19 Billion By 2027

The commercialization of bio-based acrylic acid, soaring demand from SAP, and the rapid increase in demand from end-use industries are driving the need for the market.

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New York, Aug. 11, (GLOBE NEWSWIRE) -- The Global Acrylic Acid Market is forecast to reach USD 20.19 Billion by , according to a new report by Reports and Data. Rising demand in the personal care market for superabsorbent polymers is expected to fuel growth over the projected period. Expanding use is also likely to shape the market in the manufacturing of surfactants, surface coatings, and adhesives & sealants. The rising demand for glacial acrylic acid (GAA) in the manufacture of superabsorbent polymers (SAP) is projected to be a primary factor influencing the market growth. Increasing SAP reach in niche segments involving adult incontinence, water treatment additives, and radiation treated coatings is anticipated to play an important role in the market growth in emerging economies in the Asia Pacific and Central & South America.

The driving forces for growth are rising demand for superabsorbent polymers, widespread acceptance of acrylic-based products in developing nations like the Asia Pacific, and increasing industrial sectors such as adhesives and sealants. Industries are designing and selling petrochemical technologies for manufacturing it. Instead of globally growing oil prices, producers use bio-based methods to generate this unsaturated carboxylic acid and acrylates from natural materials such as glycerol, sugar, and other things. Renewable feedstock provides favorable cost outcomes for competing with petrochemical routes.

Owing to growing environmental issues in regions such as North America and Europe, stringent regulatory controls are placed on the use of this organic compound to preserve the atmosphere and discourage occupational exposure. Its development is limited because of the possible restrictions. The manufacturers focus on research and development to discover the bio-based roots to boost market growth.

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COVID-19 Impact Analysis:

Demand around the organic chemicals sector will register a slump in development, although the need for certain chemicals that find end-user implementations in healthcare and food is rising. Additionally, China, the world's leading manufacturer of chemicals, reported a massive decline in production in the first quarter of along the course of the COVID-19 pandemic. This has contributed to an imbalance in the economics of supply-demand, causing suppliers and consumers everywhere to try and negotiate supply contracts.

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