| The report “Bio-Acrylic Acid Market by Type (Methyl acrylate, ethyl acrylate, butyl acrylate, elastomers, 2-ethylhexyl acrylate, superabsorbent polymers), Application and Region (North America, Europe, the Asia Pacific, and the Rest of the World.) – Global Forecast to 2027″, The Bio-acrylic acid Market size is estimated to be USD 0.4 billion in 2022 and is projected to reach USD 0.9 billion in 2027, at a CAGR of 15.6%. The main forces behind the growth of the Bio-acrylic acid market are a more sustainable and environmentally friendly alternative to traditional acrylic acid, as it reduces the dependence on non-renewable resources and can potentially reduce greenhouse gas emissions associated with traditional acrylic acid production.
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Some of the prominent key players are:
· Arkema SA (France) · BASF SE (Germany) · LG Chem Ltd. (Korea) · China Petroleum and Chemical Corporation (China) · NIPPON SHOKUBAI CO., LTD(Japan) · The Dow Chemical Company (US) · Evonik Industries AG (Germany)
Opportunity: Opportunities with new applications
One of the main factors influencing the market is the rising demand for to produce sustainable coatings for various applications, such as automotive coatings, architectural coatings, and industrial coatings. Bio-acrylic acid can offer similar performance to traditional acrylic acid coatings while being more environmentally friendly. Bio-acrylic acid can be used to produce bio-based adhesives for applications such as woodworking, paper and packaging, and construction. Bio-acrylic acid can offer better adhesion properties and improved sustainability compared to traditional acrylic acid adhesives. These new applications can help to differentiate bio-acrylic acid from traditional acrylic acid and create new market opportunities. As companies seek to reduce their environmental footprint and meet sustainability goals, the demand for bio-acrylic acid-based products is expected to increase.
By Type, the Butyl Acrylate segment accounted for the largest share of the Bio-Acrylic Acid Market in 2022.
The Bio-acrylic acid market is segmented based on type into methyl acrylate, ethyl acrylate, butyl acrylate, elastomers, 2-ethylhexyl acrylate, and superabsorbent polymers. Butyl acrylate is a key monomer used in the production of various polymers, including poly butyl acrylate, which is used in adhesives, coatings, and textiles. The use of bio-based feedstocks, such as sugars, glycerol, or lignocellulosic biomass, to produce bio-acrylic acid and butyl acrylate offers several advantages over traditional, petroleum-based chemicals.
By Application, sanitary products segment projected to register a highest CAGR during forecast period.
The Bio-acrylic acid market is segmented based on application into Paints and coatings, surfactants, adhesives and sealants, textiles, sanitary products, and other applications. The use of bio-acrylic acid in the production of sanitary products aligns with the growing trend towards sustainability and eco-friendliness in the market. By utilizing bio-based raw materials, manufacturers can reduce their carbon footprint and contribute to a more circular and sustainable economy. The use of bio-based SAPs also helps to meet the increasing demand from consumers for eco-friendly and sustainable hygiene products. |
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