According to the report published by Allied Market Research, the global glacial acrylic acid market generated $2.4 billion in 2021 and is projected to reach $3.5 billion by 2031, growing at a CAGR of 3.7% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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The key players analysed in the global glacial acrylic acid market report include Arkema, BASF SE, BASF PETRONAS Chemicals Sdn. Bhd., Dow Inc, Formosa Plastics Corporation, U.S.A, Hexion Inc., LG Chem, Mitsubishi Chemical Holdings Corporation, Nippon Shokubai Co Ltd, Novomer Inc, Sanmu Group, and Shandong Kaitai Petrochemical Co., Ltd. Other players operating in the glacial acrylic acid market include Cargill, Incorporated, Novozymes, and Sasol.
The report analyzes these key players in the global glacial acrylic acid market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
COVID-19 Scenario:
- The COVID-19 pandemic had a negative impact on the growth of the global glacial acrylic acid market, owing to disruptions in the supply chain for glacial acrylic acid products.
- Lockdowns resulted in temporary closure of various manufacturing facilities, including those of glacial acrylic acid and other end use industries where it is extensively used. This unfavourably impacted the supply chain of the market.
- Several glacial acrylic acid production companies have also reduced or stopped their operations due to the risk of infection among the employees while also supporting the government's goal of maintaining critical business activities such as healthcare, power generation, and food production.
- However, after the pandemic, as the demand will return to normal, participants in this market are set to explore measures to minimize the pandemic's impact on their business.
The report offers detailed segmentation of the global glacial acrylic acid industry based on application and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on application, the adhesives, coatings and sealants segment held the dominating market share in 2021, holding nearly one-third of the global market, and is expected to maintain its leadership status during the forecast period. The nappies segment, on the other hand, is expected to cite the fastest CAGR of 5.1% during the forecast period. The report also analyses other segments of the market such as adult and feminine hygiene, detergents, water treatment, and others.
Based on region, the Asia-Pacific region held the largest market share in 2021, holding more than half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 4.2% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.
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