According to a report by MarketsandMarkets, the acrylic acid market is approximated to be at $11.7 billion in 2023. It is projected to reach $13.8 billion by 2028 at a CAGR of 3.3%. The acrylic acid market is experiencing significant growth driven by factors including the growing applications of superabsorbent polymers and the increasing application in chemical synthesis. There are environmental concerns and health hazards associated with acrylic acid, but those disadvantages are outweighed by the increased commercial production of bio-based acrylic acids, and increased demand for eco-friendly products, presenting opportunities for growth in the sector. The fluctuations in raw material prices and improper waste disposal of end products continue to be a challenge for the market.

Acrylic esters dominated the market in 2022. Adhesive and sealant applications of acrylic esters are projected to account for the highest CAGR during the forecasted period. Adhesives derived from acrylic acid esters exhibit exceptional adhesion to a wide range of substrates, coupled with fast curing times and high resistance to environmental factors, making them invaluable for adhesive and sealant formulations. As industries seek innovative solutions for bonding, joining, and sealing various materials, acrylic acid esters offer the versatility and performance needed to address these evolving demands, thereby propelling their significant growth in this segment of the acrylic acid market.