North America Glacial Acrylic Acid Market

Market Introduction

The North American region consists of developed economies, including the U.S. and Canada, as well as Mexico, as a developing nation. In this region, the United States is a major market for glacial acrylic acid, followed by Mexico and Canada. The North American region largely supports the growth of the glacial acrylic acid market through effective manufacture and trade policies. Industry in North America is strongly driven by the increasing concern towards healthcare and hygiene. In addition, the accelerated growth of the production of the superabsorbent polymer is anticipated to drive the demand for glacial acrylic acid market. The development of the water treatment, personal care & hygiene, and chemical industries in this region and the extensive use of glacial acrylic acid by the end-use industries are influencing the market growth. The growing demand for adult incontinence products in hospitals and nursing homes in American hospitals is also expected to drive the market growth.

The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The crisis adversely affected the chemicals & materials industry in the region due to restricted supply chain. In addition, the overall disruptions in manufacturing processes, research, and development activities restrained the growth of the glacial acrylic acid market. The ongoing COVID-19 pandemic has drastically altered the status of the glacial acrylic acid market and has negatively impacted its growth. The outbreak has declined operational efficiency and interrupted the value chains owing to the sudden closure of national and international boundaries, thereby creating revenue loss and damage. The disruptions in value chain has restricted the supply of raw material, which, in turn, is hindering the growth of the market and affecting the development of the end-use industries. However, as the economies are planning to revive their operations, the demand for glacial acrylic acid is expected to rise in coming months. With the growing consciousness toward sustainability and diversification of application bases in post-pandemic times, the demand for glacial acrylic acid is expected to take huge leaps in the future.

Market Overview and Dynamics

The glacial acrylic acid market in North America is expected to grow US$ 374.87 million in 2021 to US$ 496.25 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028. Sustainability has become a significant parameter in the advanced manufacturing industry. To complement the increasing focus on sustainability, the production of glacial acrylic acid from renewable resources through liquid-phase dehydration of lactic acid is rising tremendously across the glacial acrylic acid market. Conventionally, the acid is produced by a catalytic two-step gas-phase oxidation of propylene. However, one principal drawback of this process is its complete dependency on nonrenewable fossil resources. In recent times, increasing efforts to lower atmospheric carbon dioxide emissions and growing concerns regarding the availability of fossil raw materials have encouraged the chemical industries to seek for an alternative bio-based feedstock to produce glacial acrylic acid. Lactic acid can be produced biotechnologically via fermentation of carbohydrates and can be catalytically dehydrated to produce glacial acrylic acid. The fermentation process for the lactic acid production requires low production costs and oil consumption. It represents an attractive and environmental-friendly alternative as feedstock to produce bio glacial acrylic acid. Consequently, the acid production from renewable resources through liquid-phase dehydration of lactic acid is anticipated to create lucrative opportunities for the glacial acrylic acid market during the forecast period.

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 North America 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

• To understand the North America glacial acrylic acid market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America glacial acrylic acid market
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America glacial acrylic acid market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Glacial Acrylic Acid Market Segmentation

North America Glacial Acrylic Acid Market – By

Application

• Nappies
• Adult & Feminine hygiene
• Detergents
• Adhesives, Coatings & Sealants
• Water Treatment
• Others

North America Glacial Acrylic Acid Market – By

Country

• US
• Canada   
• Mexico

North America Glacial Acrylic Acid Market – Companies Mentioned

• The Dow Chemical Company
• Arkema
• BASF SE
• Sasol
• Tasnee
• Mitsubishi Chemical Corporation                      
• NIPPON SHOKUBAI CO., LTD.
• FORMOSA PLASTICS CORPORATION

North America Glacial Acrylic Acid Strategic Insights

Strategic insights for the North America 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.

North America Glacial Acrylic Acid Report Scope

North America Glacial Acrylic Acid Regional Insights

The geographic scope of the North America 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.