The acrylic polymer segment held the highest market share in 2020, accounting for nearly half of the global acrylic acid market.
PORTLAND, OREGON, UNITED STATES, May 26, 2023 /EINPresswire.com/ — The acrylic polymer segment held the highest market share in 2020, accounting for nearly half of the global acrylic acid market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 5.0% from 2021 to 2030, due to increase in adoption of superabsorbent polymers by the manufacturers of disposable diapers.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for more than half of the global acrylic acid market. Moreover, the same region is expected to witness the fastest CAGR of 5.2% during the forecast period, owing to a relatively large adult population.
This makes it important to understand the practical implications of the acrylic acid market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The diapers segment accounted for the largest share in 2020, contributing to more than one-fourth of the global acrylic acid market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 5.9% from 2021 to 2030, owing to growth in urbanization and rapid rise in consumers’ disposable income.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players Mitsubishi Chemical Holdings Corporation, Arkema S.A., BASF SE, The Dow Chemical Co., The Lubrizol Corporation, Evonik, Industries Ag, LG Chem Ltd., Myriant Corporation, Formosa Plastic Group, and SIBUR. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
Rapid increase in adhesives, increase in demand for superabsorbent polymers, and strong demand from emerging economies drive the growth of the global acrylic acid market. However, several regulatory issues hinder the market growth. On the other hand, commercialization of bio-based acrylic acid present new opportunities in the coming years.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the acrylic acid market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
According to the report, the global acrylic acid industry generated $12.0 billion in 2020, and is anticipated to generate $19.2 billion by 2030, witnessing a CAGR of 4.8% from 2021 to 2030.
KEY OFFERINGS OF THE REPORT:
Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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