Acrylic Acid Market to Experience Strong Growth through 2029
The adhesives and sealants segment is anticipated to be a major factor in driving demand for acrylic acid and its derivatives.
The global acrylic acid market is expected to be valued at around $19.7 billion by the end of 2019, according to a recent report from Persistence Market Research. The market is estimated to see a healthy CAGR of approximately 5% through the next decade.
Applications of acrylic acid and its derivatives, such as methacrylate, as an adhesive are growing in automotive and other end-use industries due to properties such as excellent stability, strength, and resistance. The adhesives and sealants segment is therefore anticipated to be a major factor in driving demand for acrylic acid and its derivatives (e.g., esters) through 2029. Stringent regulations regarding the manufacture of lightweight vehicles have also increased the use of advanced adhesive materials, which results in growth for the acrylic acid market.