At 4.1% CAGR, South & Central America Polyacrylic Acid Market is Projected to be Worth US$ 305.71 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the South & Central America polyacrylic acid market  was valued at US$ 222.16 million in 2023 and is expected to reach US$ 305.71 million by 2031, registering a CAGR of 4.1% from 2023 to 2031. Development of bio-based and sustainable products and rising demand from paper & pulp industry are among the critical factors attributed to drive the South & Central America polyacrylic acid market  growth.

Different sustainable and bio-based products are used to replace products that create harmful impacts on the environment. There is a growing interest in the development and use of bio-based acrylic acid and polyacrylic acid across various industries. In October 2023, GS Caltex and LG Chem signed an MoU for a joint biodegradable business. Under the MoU, GS Caltex and LG Chem will discuss possible joint businesses utilizing 3HP. 3HP, made with plant-derived materials through microbial fermentation, is a versatile platform chemical that can produce bio acrylic acid for diapers, adhesives, coatings, and carbon fibers. In 2019, LG Chem announced a partnership with ADM to create acrylic acid from corn. Låkril Technologies revealed its plans to open a pilot plant by the end of 2024. The company catalytically converts biobased lactates such as methyl lactate, ethyl lactate, and lactic acid into acrylic acid. In 2020, Cargill licensed technology from Procter & Gamble that converts lactic acid into acrylic acid. At the end of year 2020, Cargill announced it was working with Axens and IFPEN to scale up the technology. Further, Interreg VlaNed project GREENER aims to develop polymers with the same properties as water-soluble polymer polyacrylic acid, but with the advantage that they will be bio-based and biodegradable. Thus, various developments in bio-based and sustainable products are expected to emerge as major trends in the South & Central America polyacrylic acid market during the forecast period.

On the contrary, fluctuation in prices of raw materials hamper the growth of South & Central America polyacrylic acid market .

By form, the South & Central America polyacrylic acid market is segmented into powder and liquid. The liquid segment held 62.6% share of South & Central America polyacrylic acid market  share in 2023, amassing US$ 139.05 million. It is projected to garner US$ 192.84 million by 2031 to register 4.2% CAGR during 2023–2031.

In terms of dispersing agent, anti-scaling agent, thickeners, emulsifiers, ion-exchanger, and others. The anti-scaling agents segment held 29.2% share of South & Central America polyacrylic acid market  share in 2023, amassing US$ 64.78 million. It is projected to garner US$ 89.00 million by 2031 to register 4.1% CAGR during 2023–2031.

Based on end-use industry, the South & Central America polyacrylic acid market is segmented into water treatment, personal care & cosmetics, detergents & cleaners, leather & textiles, pulp & paper, paints & coatings, ceramics, and others. The water treatment segment held 30.3% share of South & Central America polyacrylic acid market  share in 2023, amassing US$ 67.33 million. It is projected to garner US$ 95.03 million by 2031 to register 4.4% CAGR during 2023–2031.

Based on country, the South & Central America polyacrylic acid market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 69.9% share of South & Central America polyacrylic acid market  in 2023. It was assessed at US$ 155.33 million in 2023 and is likely to hit US$ 215.90 million by 2031, registering a CAGR of 4.2% during 2023–2031.

Key players operating in the South & Central America polyacrylic acid market are Arkema SA, Ashland Inc, BASF SE, Evonik Industries AG, The Dow Chemical Co, and The Lubrizol Corp, among others.

• In 2023: Lubrizol Life Science Beauty launched a thickening agent Carbopol SC-800 for personal care products. The rheology modifier solution for mild and sulfate-free formulations is ideal for shower gels, shampoos and facial cleansers.

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