The India Acrylic Acid market has grown in the historic years to reach around 100 thousand tonnes in FY2022 and is expected to hike at a steady CAGR of 5.73% during the forecast period until FY2035. Increasing use of Acrylic Acid in manufacturing polyacrylates in thickeners, dispersants, and rheology controllers and its usage in coating and adhesives is expected to increase the demand for Acrylic Acid in India during the forecast period.
Acrylic Acid is a colorless liquid with a characteristic smell. This compound has a chemical formula of C3H4O2. Acrylic Acid is produced by the direct oxidation of Propylene. This acid is water miscible as well as mixes well with chemical reagents such as alcohol, acetone, and chloroform. Acrylic acid is used as a feedstock for manufacturing of acrylic esters and resins, which are further utilized by adhesives and coatings sectors. Additionally, acrylic acid is utilized in water treatment chemicals, detergent surfactants, oil treatments chemicals, and polyacrylic acid polymers that absorb water.
Owing to the use of VOCs (volatile organic compounds, e.g., Acetone) in paints & coatings, which has, in which, acrylic acid is a crucial component in the country coupled with increasing demand for Acrylic Acid in plastics, Super Absorbent Polymers (SAPs), surface coatings, adhesives & sealants, textile, plastic additives, diapers & training pants, adult incontinence is anticipated to swell up the demand of Acrylic Acid in the forecast period till FY2035. Additionally, demand for Acrylic Acid is fueled by its higher usage in diaper application segments, owing to its ability to absorb and retain water. The use of Acrylic Acid in surface coatings is also gaining popularity and accounted for the largest market share of acrylic acid. These factors would contribute to the growth of the Acrylic Acid demand in the country. The India Acrylic Acid market is anticipated to reach 220 thousand tonnes by FY2035.
Based on the region-wise consumption, the Acrylic Acid market is segmented into West, South, North, and South. Although during the FY2015-FY2021, west India displayed a highest consumption among all other parts of India, with sates like Gujarat and Maharashtra being the leading consumers. The primary reason this demand is the location of importing ports in Western India and a higher concentration of Acrylic Acid consuming industries in the region.
As of FY2022, there is only one producer of acrylic acid in India, Bharat Petroleum Corporation Limited (BPCL), situated in Kochi, India. The Honorable Prime Minister of India inaugurated this plant on 14th February 2021. This plant has an annual capacity of 160 thousand tonnes per annum. Before this, the demand for acrylic acid in India was solely dependent on export from other nations. Furthermore, a new Acrylic Acid plant by Indian Oil Corporation Limited (IOCL) Acrylic Acid plant, is expected to be operational in FY2024, with capacity of 90 thousand tonnes in Gujarat.
Based on end-use segment, the India Acrylic Acid market is segmented into Water Treatment, Detergent, Acrylate Ester, Super Absorbent Polymer, Paper, and Others. Acrylate Ester is dominating the India Acrylic Acid market and with a share of roughly 40% in FY2022. Super Absorbent Polymer (SAP) will also be a significant driver of the future growth of acrylic acid consumption in the coming years. Super Absorbent Polymer displays amazing absorption properties and finds application for manufacturing hygiene products like sanitary napkins and baby diapers.
Years considered for this report:
Historical Period: FY2015-FY2022
Base Year: FY2022
Estimated Year: FY2023
Forecast Period: FY2024- FY2035
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Objective of the Study:
• To assess the demand-supply scenario of Acrylic Acid which covers production, demand and supply of Acrylic Acid market in India.
• To analyse and forecast the market size of Acrylic Acid in India.
• To classify and forecast India Acrylic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Acrylic Acid market in India.
To extract data for India Acrylic Acid market, primary research surveys were conducted with Acrylic Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Acrylic Acid market over the coming years.
ChemAnalyst calculated Acrylic Acid demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Acrylic Acid to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acrylic Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Acrylic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acrylic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Acrylic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in FY2022
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100 thousand tonnes
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Market size Volume by FY2035
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220 thousand tonnes
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Growth Rate
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CAGR of 5.73% from FY2023 to FY2035
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Base year for estimation
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FY2023
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Historic Data
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FY2015 – FY2022
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Forecast period
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FY2024 – FY2035
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Quantitative units
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Demand in thousand tonnes and CAGR from FY2023 to FY2035
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share
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Segments covered
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By End-Use: (Water Treatment, Detergent, Acrylate Ester, Super Absorbent Polymer, Paper, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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Northern India, Southern India, Eastern India, Western India
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you do not find what, you are looking for, please get in touch with our custom research team at sales@chemanalyst.com