Glacial Acrylic Acid Market Size, Trends and Growth Analysis by 2027

The glacial acrylic acid market was valued at approximately US$ 2,607.67 million in 2021 and is anticipated to grow to US$ 3,351.24 million by 2028, reflecting a compound annual growth rate (CAGR) of 3.6% during the period from 2021 to 2028.

Glacial acrylic acid, also known as 2-propenoic acid, is an unsaturated carboxylic acid that serves as a co-monomer. It has a high propensity to copolymerize with various compounds, including acrylic and methacrylic esters, ethylene, vinyl acetate, styrene, butadiene, acrylonitrile, vinyl chloride, maleic esters, and vinylidene chloride. This compound is primarily utilized as a foundational element in the synthesis of acid-functional and crosslinked acrylic copolymers, as well as polyacrylic acids. The versatility of glacial acrylic acid makes it a valuable component in a wide array of products such as coatings, adhesives, sealants, inks, thickeners, flocculants, and lubricants. Additionally, it plays a crucial role in the production of polymers for applications ranging from medical hydrogels to superabsorbent polymers and detergents.

The global glacial acrylic acid market is categorized based on application into several segments: nappies, adult and feminine hygiene, detergents, adhesives, coatings, and sealants, water treatment, and others. Among these, the nappies segment is projected to dominate the market throughout the forecast period. Glacial acrylic acid is a key ingredient in superabsorbent polymers (SAPs), which are extensively utilized in disposable baby diapers. These SAPs are cross-linked polyacrylates capable of absorbing and retaining liquid amounts exceeding one hundred times their weight. Notably, SAPs account for over 30% of global acrylic acid consumption. Major manufacturers, such as BASF PETRONAS Chemicals Sdn. Bhd., provide glacial acrylic acid specifically for use in disposable diapers. Another notable supplier, Tasnee, offers this unsaturated carboxylic acid in a clear, colorless liquid form with a distinct acrid odor, which is miscible with water, alcohol, and ethers, and is used for polymer production and as a chemical intermediate.

Geographically, the glacial acrylic acid market is divided into regions including North America, Europe, Asia Pacific (APAC), South America (SAM), and Middle East & Africa (MEA). The Asia Pacific region is expected to hold the largest market share during the forecast period, driven by the rising demand for baby diapers in developing countries like South Korea and China. Furthermore, glacial acrylic acid is employed in various applications across industries such as adhesives, paints, construction, water treatment, detergents, leather treatments, and textile chemicals, contributing to the market's expansion in this region.

The COVID-19 pandemic has significantly impacted the glacial acrylic acid market, leading to a decline in growth due to disruptions in operational efficiency and value chains. The sudden closure of borders has resulted in revenue losses and operational challenges. These disruptions have restricted the supply of raw materials, adversely affecting market growth and the development of end-use industries. However, as economies begin to recover and resume operations, the demand for glacial acrylic acid is expected to increase globally in the coming months. The post-pandemic focus on sustainability and the diversification of application areas are likely to drive substantial growth in the demand for glacial acrylic acid in the future. According to the International Finance Corporation, the pandemic is projected to slow down investments in the water sector worldwide. A survey by the Global Water Leaders Group indicated that industrial water demand could decrease by approximately 27% due to the pandemic. Additionally, it was reported that water and wastewater utilities globally might experience an average revenue collection reduction of 15% as a result of the crisis. Consequently, the water treatment chemicals sector is expected to see a decline in demand, which could negatively affect the glacial acrylic acid market. Nevertheless, proactive measures by organizations, such as the Industrial Fabrics Association International, supported by favorable government initiatives to protect frontline healthcare workers, are anticipated to enhance the textile industry, thereby increasing the demand for glacial acrylic acid in the coming years.

Key players in the global glacial acrylic acid market include The Dow Chemical Company, Arkema, BASF SE, Sasol, Tasnee, HAITUNG CHEMICALS CO., LTD., Mitsubishi Chemical Corporation, NIPPON SHOKUBAI CO., LTD., Formosa Plastics Corporation, and BASF PETRONAS Chemicals Sdn. Bhd..

The overall size of the global glacial acrylic acid market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the data and gain further analytical insights. Participants included industry professionals such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the global glacial acrylic acid market.