Monday, April 6, 2015

Acrylic acid market to register huge growth

Acrylic acid is basically a colourless, unsaturated carboxylic acid having a tart or acrid odour. The acid is used as a feedstock to produce acrylate esters which have a wide range of applications in plastic additives, paper treatment, textiles, adhesives, surface coatings and sealants. The primary raw materials employed in the commercial production of acrylic acids are petrochemicals and other fossil fuels.

Purified acrylic acid is employed to make resins which are highly water-absorbent for its application in disposable diapers and similar products. Acrylic acid esters are used as raw materials for synthetic rubbers, synthetic resins, adhesives and water-based paints. All of these products are compatible with water and they are getting investor attention as environmentally friendly products. It is used in sewage treatment thus eliminating health hazards. It is applied as industrial primers, as textile sizing, treatment & finishing, in leather impregnation, as lacquers for appliance, as automotive and furniture finishes etc.

Big Market research adds a report titled “Global Acrylic Acid Market (Derivatives Types, End Users and Geography) Size, Share, Global Trends, Company Profiles, Demand, Insights, Analysis, Research, Report, Opportunities, Segmentation and Forecast, 2013 – 2020”. As mentioned in the report, the acrylic acid market is valued at $11,006.06 m globally in the year 2013 and the market would reach $18,824.0 million by 2020. The report is expected to grow at a 7.6 % CAGR amid the forecast period. It is also estimated that 8,169.0 kilo tons of acrylic acid would be consumed globally by the year 2020.

BASF is one of the most prominent leaders involved in the production of acrylic acid globally and it has partnered with other leading manufacturers Cargill and Novozymes in making superabsorbent polymer from bio-based acrylic acid thus carving a new milestone in the commercial production of bio-based acrylic acid. The above mentioned collaboration has caught investor attention globally thereby persuading other industry leaders to make such innovating strategies in order to grow in the acrylic acid market.

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