25 Jun
2014
Depending on the derivative, acrylic acids have numerous applications in diverse fields. From a baby’s diapers to a battle tank’s gun turret, they tend to be useful in practically every situation.
So what is this super substance?Acrylic acid is basically a pungent-smelling organic compound, traditionally a by-product of petrochemicals. Rising awareness about the hazards of fossil fuels and their adverse effects on the natural environment has resulted in the development of techniques, which produce bio-acrylic acid from eco-friendly and renewable resources such as glycerol and sugar. Thanks to its diverse applications, the demand for acrylic acids is substantial, and the global consumption is projected to hit 8169 kilo tons by 2020. At $11,006.6 million in 2013, the Acrylic Acid market is projected to reach a whopping $18,824.0 million by 2020, growing at a CAGR of 7.6% during the forecast period (from 2014 to 2020).
Major Drivers:
Restraints:
Geographies:
Regional markets are North America, Europe, Asia Pacific and LAMEA, with Asia Pacific being the leading market to generate the most revenue in 2013, and the trend is expected to continue through 2020. With a CAGR of 9.3%, LAMEA would be the emerging market during the forecast period (2014-2020).
Major Producers:
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Akhilesh Prabhugaonkar
Author's Bio- Akhilesh Prabhugaonkar holds a bachelor’s degree in Electronics Engineering from the reputed Vishwakarma Institute of Technology. He has a special interest in the fields of forensics, world history, international relations and foreign policy, sports, agriculture, astronomy, security, and oceanography. An ardent bibliophile and melophile, Akhilesh loves to write on topics of his interest and various other societal issues. This love for writing made him enter the professional world of content writing and pursue his career in this direction.
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