Acrylic Acid Mkt Sees Strong Growth Owing to Enhanced Demand from Adhesives & Sealants: TMR

The global market for acrylic acid witnessed a strong growth over the recent few years owing to enhanced demand from the adhesives and sealants industry. In order to study the present market dynamics and evaluate the growth prospects of the acrylic acid market, Transparency Market Research has compiled a research report titled “Acrylic Acid Market - Global Industry Analysis, Size, Share, Growth and Forecast 2012 - 2018”. According to the findings of the report, the global acrylic market is poised to grow at a positive CAGR of 6.5% between 2012 and 2018. 

Acrylic acid has a multitude of applications across industries such as construction. It is also increasingly used in the manufacture of plastics, floor polish, latex products, and paint formulations, among others. The demand for these items will increase with the development of economies around the world. This will in turn boost demand from the global acrylic acid market. 

However, on the flip side, the growth prospects of the market will be hampered by fluctuating raw material prices. Propylene is the most commonly used raw material in the manufacture of acrylic acid. Volatile prices of propylene will impact the profit registered by acrylic acid manufacturers negatively. Reports suggest that the prices of propylene reached US$1800 per ton in 2011, and are projected to increase further due to the rise in crude oil prices and uneven supply of the same. Stringent regulations imposed in North America and Europe will also adversely affect the growth of the acrylic acid market. 

The key derivatives of acrylic acid are glacial acrylic acid, acrylic esters, cyanopolyacrylate, and ammonium polyacrylate. In 2012 almost 51% of the total acrylic acid consumed worldwide was used for producing acrylate esters. However, the acrylate esters market is projected to register the slowest rate of growth over the forecast period.