Acrylic Acid Market to Signify Strong Growth by 2024-2031

Acrylic acid market is anticipated to grow at a considerable CAGR of 5.1% during the forecast period. Engineering plastics usage in developing countries such as China has increased significantly in recent years as a result of rising urbanization and the replacement of numerous metals in various applications by suitable engineering plastics. Engineering plastics are also used in the automotive industry to reduce the mass of the parts, while also providing more design flexibility than metal. According to OICA, about 25.23 million vehicles were produced in China in 2020, compared to 25.75 million vehicles produced in 2019, indicating a 2% decline in growth rate, resulting in lower demand for engineering plastics.

Rising acquisitions, product approval, collaborations among the major players in the market also propel the growth of the market. For instance, in October 2019, Arkema successfully started its new 90,000-ton acrylic acid reactor at its Clear Lake site in Texas to attract consumers from paints, superabsorbents, water treatment, and adhesives markets in North America. Equipped with the latest production technologies, this new reactor replaces two decommissioned reactors of 45,000 tons each. Clear Lake is now one of the most competitive acrylic acid sites in the United States, owing to a $90 million investment. The Group will be able to support the expansion of its North American clients in industries including adhesives, superabsorbents, paints, polymers, and coatings, for water treatment and increased oil and gas recovery with this new capacity. Additionally, this expansion reinforces Arkema's position as the region's second-largest producer of acrylic acid.

To Request a Sample of our Report on Acrylic Acid Market:  https://www.omrglobal.com/request-sample/acrylic-acid-market

Market Coverage

• The market number available for – 2022-2031
• Base year- 2023
• Forecast period- 2023-2031

Segment Covered- 

• By Type
• By End-Use

Regions Covered

• North America
• Europe
• Asia-Pacific
• Rest of the World

Competitive Landscape- BASF SE, Nippon Shokubai Co.,Ltd., The Dow Chemical Company, Arkema Group, and LG Chem, Ltd.

Acrylic acid Market Report Segment

By Type

• Acrylate Esters
• Glacial Acrylic Acid
• Others

By End-Use 

• Surfactants
• Organic Chemicals
• Adhesives & Sealants
• Textiles
• Water Treatment
• Others (Personal Care Products)

A full Report of Acrylic Acid Market is Available @ https://www.omrglobal.com/industry-reports/acrylic-acid-market

 Acrylic acid Market Report Segment by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America 
• Middle East & Africa

Reasons to buy from us –

1. We cover more than 15 major industries, further segmented into more than 90 sectors.
2. More than 120 countries are for analysis.
3. Over 100+ paid data sources mined for investigation.
4. Our expert research analysts answer all your questions before and after purchasing your report.

About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

Media Contact:

Company Name: Orion Market Research

Contact Person: Mr. Anurag Tiwari

Email: info@omrglobal.com

Contact no:  +91 7803040404

Article source: https://article-realm.com/article/Business/63387-Acrylic-Acid-Market-to-Signify-Strong-Growth-by-2024-2031.html