Pune India, May 27, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the acrylic polymer market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the acrylic polymer market is present across various countries in the above-mentioned regions.
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The report provides detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, and others. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global acrylic polymer market are Dow Inc., BASF SE, Toagosei Co., Ltd., Sumitomo Seika Chemicals Co., Ltd., Arkema, Nippon Shokubai Co. Ltd., Ashland Global Holdings, Inc., Plaskolite, Lucite International, and Gellner Industrial among others. To achieve a substantial market share in the worldwide acrylic polymer market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures. Among these, BASF SE is one of the most significant manufacturers and distributors present in the global acrylic polymer market.
Chemists across the globe selects suitable hard and soft monomers to build acrylic polymers with specific attributes for a different type of end-use applications. The pure acrylic polymers can form polyacrylic acid or crosslinked polyacrylic acid compounds, which are being used in manufacture of detergents, hygienic products, and wastewater treatment & water purification.
Polymers had been used in detergent application since past 4 decades due to benefits such as anti-soil redeposition, anti-encrustation (Fabric whiteness maintenance), replacement for sodium tripolyphosphate (STPP), stain and soil removal, and dispersion and removal of insoluble fillers. The primary function of acrylic polymers is to act as builders and anti-soil re-deposition agents. Therefore, such polymers have substituted conventionally utilized phosphate builders in detergent formulation that are harmful in nature and hazardous to the environment. In addition, acrylic polymers provides good fabric softening and dispersion properties, due to which, they are commonly used in laundry detergent. Aforementioned reasons have created demand for acrylic polymers from laundry detergent industry; thus, boosting growth of the global market.
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Scope of Acrylic polymer Market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Million |
| Segments Covered | Type and application |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Dow Inc., BASF SE, Toagosei Co., Ltd., Sumitomo Seika Chemicals Co., Ltd., Arkema, Nippon Shokubai Co. Ltd., Ashland Global Holdings, Inc., Plaskolite, Lucite International, and Gellner Industrial among others |
Segmentation Analysis
Solvent-borne segment is expected to be the fastest growing segment in 2021.
The type segment includes water-borne and solvent-borne. Solvent-borne is expected to witness highest growth rate during the forecast period. Growth of this segment is mainly driven by rising demand for solvent-based acrylic adhesives, the acrylic polymers in petroleum-based solvents. Such adhesives are seeing emerging popularity due to their high strength, toughness, and durability over time.
Hair care segment is expected to be the fastest growing segment in 2021.
The application segment includes laundry & detergent, dish washing, industrial & institutional, hard surface cleaning, and others. Dish washing segment is expected to witness highest growth rate during the forecast period. There is huge demand for liquid dish washing products across the restaurants, hotels, and food retails, and household applications. In addition, the market players are offering innovative dish washing solutions, creating growth opportunities for the segment. For instance, Polyquart S are special polymers for automatic dish washing formulations.
Regional Analysis
The regional analysis provides a detailed perception about the key regions and the countries. Some of the key countries analyzed for the acrylic polymer include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
North America region witnessed a major share. Growth of this region is mainly driven by rise in demand for sustainable laundry & detergents and other cleaning products due to strict regulations However, Asia-Pacific is expected to witness highest growth rate during the forecast period. Rise in demand for superabsorbent polymers along with the wide-ranging acceptance of acrylic-based products across emerging economies in this region drives growth of the acrylic polymer market.
Country Analysis
Germany
Germany acrylic polymer market size was valued at USD 91.8 million in 2021 and is expected to reach USD 138.9 million by 2029, at a CAGR of 5.5% from 2022 to 2029. This country is one of the leading nations in the mechanical engineering, manufacturing, automotive, and electrical industries. However, rise in imports of acrylic polymer in this country is primarily driving growth of the market. For instance, according to the IndexBox, an Ai-driven market intelligence platform in 2019, Germany accounted for imports of 495 thousand tonnes of acrylic polymer.
China
China acrylic polymer market size was valued at USD 108.02 million in 2021 and is expected to reach USD 161.0 million by 2029, at a CAGR of 5.3% from 2022 to 2029. Growing exports of acrylic polymer from China primarily fuels growth of the market in the country. For instance, according to the United Nations COMTRADE database on international trade, China exports of acrylic polymers in primary forms to India was accounted for $136.39 Million during the year 2020.
India
India acrylic polymer market size was valued at USD 59.41 million in 2021 and is expected to reach USD 91.3 million by 2029, at a CAGR of 5.7% from 2022 to 2029. India is one of the strongest growing economies in Asia. Government in this country is focused on reviving the economy and are taking initiatives to promote small and medium scale polymer processing industry. On the other hand, according to the study by Mintel India in April 2021, about 40% of Indians use powders and 19% of Indians uses liquid detergents for machine washing laundry. This huge demand for detergents is further boosting growth of the acrylic polymer market.
Covid-19 Impact
Covid-19 had a major impact on almost all of the industries such as construction, manufacturing, oil and gas, automobile, etc. Similarly, the demand for acrylic polymer has decreased during the period owing to the regulations on social distancing and supply chain disruptions. In most of the regions, the manufacturing facilities of acrylic polymer were closed in the second and third quarters of fiscal year 2020. The major end-users were also temporarily closed during this period and thus the demand for acrylic polymer significantly decreased.
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