The global polyacrylic acid market is expected to reach USD 3.79 billion by 2025, growing at a CAGR of 6.0%, according to a new report by Grand View Research, Inc. Asia Pacific is the largest as well as the fastest growing consumer of the industry. China is projected to drive the product demand on account of rising consumer awareness regarding the multifunctional ingredients incorporated in laundry detergents and household cleaners.
Use of polyacrylic acid in superabsorbent polymers is expected to pave way for industry growth in China in the next couple of years. Furthermore, rising initiatives towards enhancing crop yield and optimum utilization of water resources in agricultural processing is anticipated to propel the usage of superabsorbent polymers in China, ultimately boosting the product consumption in the future.
In terms of volume, detergents & cleaners segment is expected to rise at a CAGR of 5.0% from 2017 to 2025. Rise in the consumption of liquid based laundry detergents in China is likely to propel the product demand over the next couple of years. Rise in the stringency of environmental protection laws coupled with significant capital expenditure on treating industrial water & wastewater is another growth driving factor.
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Further key findings from the report suggest:
In terms of volume, detergents & cleaners segment is expected to rise at a CAGR of 5.0% from 2017 to 2025. In terms of revenue, the market in detergents & cleaners application is expected to reach USD 980.8 million by the end of 2025.
China accounted for the largest revenue share in Asia Pacific in 2016 and is likely to expand at a CAGR of 6.9% during the forecast period
India is likely to witness fast paced growth in terms of product demand over the years ahead, in Asia Pacific. Superabsorbent polymers and detergent & cleaners sectors are expected to offer favorable scope for industry growth.
Robust requirements for construction materials including coatings and composites as a result of significant infrastructure developments in China are estimated to be another important driver of industry growth.
Backward integration of manufacturers is estimated to lower the bargaining power of suppliers over the years ahead. New entrants are expected to gain opportunities through establishing business operations in developing and emerging economies including India, Brazil, and South Africa.
Companies are focusing on business growth by implementing various growth strategies such as forward and backward integration of business operations, expansion of production capacities, and distribution agreements.
Prominent industry players such as Ashland, Inc., BASF SE, Arkema S.A. and Nippon Shokubai Co., Ltd. are targeting emerging applications including agriculture for use in soil conditioning and processing of soil mulches and adhesives sectors
Grand View Research has segmented the global polyacrylic acid market on the basis of application, and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Water & Wastewater Treatment
Detergents & Cleaners
Paints, Coatings, & Inks
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Central & South America
Middle East & Africa
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