Asia Pacific Glacial Acrylic Acid Market
Market Introduction
The glacial acrylic acid market in Asia Pacific comprises several economies such as China, India, Japan, South Korea, Australia, and Rest of APAC. These countries are witnessing an upsurge due to growth in urbanization, increasing manufacturing industries coupled with growing industrialization, and the impact of social media, which offers ample opportunities for key market players in the glacial acrylic acid market. The growing population, rising disposable income levels of the population, and substantial economic conditions are supporting encouraging growth the demand for superabsorbent polymers (SAPs) thereby driving the glacial acrylic acid market in in the region.
The COVID-19 pandemic is causing a significant economic loss in Asia Pacific. The consequence and impact can be even worse and totally depends on the spread of the novel coronavirus. The pandemic has negatively affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemicals & materials industry is one of the major industries suffering serious disruptions such as breaks in supply chain and shutdowns of production plants. The shutdown of various manufacturing plants and factories in the region has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. The governments of various Asia Pacific countries are taking possible steps to restrict the spread by announcing lockdown, which, in turn, is lowering the revenue generated by the glacial acrylic acid market in the region.
Market Overview and Dynamics
The glacial acrylic acid market in Asia Pacific is expected to grow US$ 1,238.46 million in 2021 to US$ 1,791.53 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. Acrylic acid accounts for 80–85% of raw materials utilized in the production of superabsorbents (SAPs). The polymer is produced by aqueous solution polymerization of glacial acrylic acid with crosslinking monomer and an initiator. Superabsorbents are extensively used in diapers and hygienic products as they can absorb and retain large volumes of water and aqueous solutions. SAPs are primarily made from partially neutralized and lightly crosslinked polyacrylic acids and are the indispensable constituents in feminine hygiene, disposable diapers, as well as adult incontinence products. Approximately 77.5% of the global SAP is utilized in diapers, 9.5% in adult incontinence products, and 4% in feminine hygiene. SAPs are vital products in the acrylic acid value chain, and their water-absorbing attributes are increasing their demand in sanitary and hygiene products. Besides, the region is experience highest growth rates of glacial acrylic acid. Furthermore, the key manufacturers are focusing on the production of acrylic acid and its derivative products, such as acrylates and superabsorbent polymers. For instance, NIPPON SHOKUBAI CO., LTD has been expanding its core businesses in superabsorbent polymers and acrylic acid across the region. With their surging application in diapers, the company’s annual production capacity of SAPs has grown strongly, which also acts as the company’s strength. Thus, the growth of the glacial acrylic acid market is attributed to the rising demand for superabsorbent polymer production. In addition, the growing hygiene awareness among the populace, especially aging population drives the demand for glacial acrylic acid in diapers and hygiene products.
Key Market Segments
In term of application, nappies segment held a larger market share of the glacial acrylic acid market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the glacial acrylic acid market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are The Dow Chemical Company; Arkema; BASF SE; Sasol; Tasnee; Mitsubishi Chemical Corporation; NIPPON SHOKUBAI CO., LTD.; and Formosa Plastics Corporation among others.
Reasons to buy report
Asia Pacific Glacial Acrylic Acid Market Segmentation
Asia Pacific Glacial Acrylic Acid Market – By
Application
Asia Pacific Glacial Acrylic Acid Market – By Country
Asia Pacific Glacial Acrylic Acid Market – Companies Mentioned
Strategic insights for the Asia Pacific Glacial Acrylic Acid provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1,238.46 Million |
| Market Size by 2028 | US$ 1,791.53 Million |
| Global CAGR (2021 - 2028) | 5.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Glacial Acrylic Acid refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Asia Pacific Glacial Acrylic Acid Market is valued at US$ 1,238.46 Million in 2021, it is projected to reach US$ 1,791.53 Million by 2028.
As per our report Asia Pacific Glacial Acrylic Acid Market, the market size is valued at US$ 1,238.46 Million in 2021, projecting it to reach US$ 1,791.53 Million by 2028. This translates to a CAGR of approximately 5.4% during the forecast period.
The Asia Pacific Glacial Acrylic Acid Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Glacial Acrylic Acid Market report:
The Asia Pacific Glacial Acrylic Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Glacial Acrylic Acid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Glacial Acrylic Acid Market value chain can benefit from the information contained in a comprehensive market report.
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