The polyacrylic acid market is projected to expand from US$ 2.43 billion in 2023 to US$ 3.34 billion by 2031, reflecting a compound annual growth rate (CAGR) of 4.1% during the period from 2023 to 2031.

Polyacrylic acid (PAA) is recognized for its adaptability and is utilized across a multitude of sectors due to its unique functional characteristics. Neutralized PAA gels are particularly effective for developing biocompatible matrices in medical applications, such as therapeutic gels. This synthetic polymer finds extensive use in various industries, including water treatment, personal care, textiles, adhesives, paints and coatings, as well as pulp and paper production. The global market for polyacrylic acid is characterized by intense competition, with numerous local and international players vying for market share. Competitors differentiate themselves through product innovation, quality enhancements, and pricing strategies. To maintain a competitive edge, companies are implementing diverse strategies, such as launching new products, investing in research and development, and expanding production capacities. A notable development occurred in November 2020 when the Al Hejailan Group formed a partnership with Dow to establish a new company aimed at designing, constructing, and operating a polyacrylic acid and emulsion polymers facility at Plaschem Park in Saudi Arabia.

The global polyacrylic acid market is categorized by end-use industries, which include water treatment, personal care and cosmetics, detergents and cleaners, leather and textiles, pulp and paper, paints and coatings, ceramics, and others. In 2023, the water treatment sector accounted for the largest share of the market. Additionally, the detergents and cleaners segment represents a significant application area for polyacrylic acid. Cross-linked polyacrylic acids are commonly utilized in the production of household cleaning products, such as floor cleaners. Furthermore, polycarboxylates, which are used in laundry detergents, are typically acrylic acid homopolymers or copolymers of acrylic acid and maleic anhydride.

In 2023, the Asia Pacific region dominated the global polyacrylic acid market in terms of revenue. In China, rapid industrial growth and urbanization have significantly increased the demand for polyacrylic acid in various applications, including water treatment, paints and coatings, adhesives, and textiles. The Chinese government's stringent regulations concerning water quality and environmental protection have further accelerated the adoption of polyacrylic acid-based solutions.

Key players in the polyacrylic acid market include Arkema SA, Ashland Inc, BASF SE, Evonik Industries AG, Nippon Shokubai Co Ltd, Sumitomo Seika Chemicals Co Ltd, The Dow Chemical Co, The Lubrizol Corp, Shandong ThFine Chemical Co Ltd, and Glentham Life Sciences Limited. These global market participants are committed to delivering high-quality products to meet customer needs. They are also pursuing various strategies, such as investing in research and development and expanding their production capabilities. For example, in 2023, BASF SE announced the inauguration of a new production complex at its Verbund site in Zhanjiang, China. This facility will manufacture butyl acrylate (BA), glacial acrylic acid (GAA), and 2-ethylhexyl acrylate (2-EHA), with plans to achieve a production capacity of approximately 400,000 metric tons of BA and 100,000 metric tons of 2-EHA by 2025. Similarly, Nippon Shokubai Co Ltd launched an acrylic acid production facility in Cilegon, Banten, Indonesia, with a capacity of 100,000 MT/year, representing an investment of around US$ 200 million.

The overall size of the global polyacrylic acid market has been determined through a combination of primary and secondary research methodologies. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, 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 polyacrylic acid sector.