TAGS: Acrylic Coatings
According to a new published report by Allied Market Research, the global acrylic acid market size was valued at $12.0 billion in 2020, and is projected to reach $19.2 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Boost by Rising Surface Coating Applications
The global acrylic acid market is expected to grow at a considerable rate with the rising demand in emerging economies for surface coating applications, superabsorbent polymers and water treatment processes.
Acrylic acid is an organic compound, which acts as a precursor for various chemical processes and an intermediary for industrial processes such as surface coating, paper treatment, plastic additives, textiles, sealants, and adhesives.
Acrylic acid monomer is commonly utilized in latex applications to
improve stability and avoid premature coagulation, leading to breaking of emulsion in coating applications.
On the basis of derivative type, the acrylic polymer segment dominated the global acrylic acid market in 2020, and is expected to maintain its dominance during the forecast period, owing to increasing adoption of superabsorbent polymers by the manufacturers of disposable diapers.
On the basis of end-user, the diapers segment dominated the global acrylic acid market in terms of revenue, in 2020, owing to rapid rise in consumers’ disposable income and growth in urbanization are driving the adoption of acrylic based diapers in emerging and developed economies.
Source: AMR