Acrolein, also known as 2-propenal is the simplest unsaturated aldehyde. It’s a colourless liquid and exhibits a disagreeable acrid smell.. Acrolein is manufactured from petrochemical feedstocks such as propylene and glycerine. Acrolein is primarily used as an important intermediate and a specialty chemical. Acrolein is rapidly gaining importance due to its versatile use in plastic and paint industries. One of the most widely used industrial methods of preparing acrolein involves catalytic oxidation of propylene in presence of air. Further, there is emerging trend of usage of glycerine and propane as alternative feedstocks for acrolein. The global demand for acrolein markets are estimated to show a considerable transformation depending on its raw material requirements and its ultimate uses. The U.S. and Asia Pacific regions are estimated to lead the acrolein market by 2020.
Few of the key drivers affecting the acrolein markets demand are engineering plastic and polymer industries, followed by agrochemicals. Acrolein is majorly used as a key intermediate to prepare acrylic acid and methionin. Acrylic acid polymers are largely consumed in preparation of emulsifiers, coatings and adhesives. Moreover, they are also used as super-absorbing agents in diapers and hygienic pads. Direct use of acrolein is employed as a specialty chemical such as a biocide. This acrolein based biocide is used to control algal growth, submerged and floating weeds in irrigation canals. It is also used as biocide, in oil industries in drilling waters, as well as, a scavenger for hydrogen sulfide and mercaptants.
However, taking some key challenges in mind, the global scenario for acrolein market is estimated to show a considerable change in the region wise economies accordingly. Acrolein production is currently dependent on the crude oil feedstocks. These feedstocks are not only used in energy production but, also in the petrochemical industry.. This has resulted in fluctuations in crude oil based propylene prices, uncertain glycerol availability and depletion of resources which are expected to hinder the growth of the acrolein market over the next few years.
Sustainable approach is being taken by various regions to cope up with the problem of depleting crude oil sources estimated in the near future. Biobased glycerol is now being used as an alternative feedstock to produce acrolein, so as to minimize the dependency on natural resources. In addition, use of new catalysts is done to achieve better acrolein yields. Thus, biobased glycerol and catalyst markets are expected to improve during the forecast period, which can be considered as an opportunity for the regions with depleting oil sources.
In terms of global demand, the U.S., Europe and Japan are at present the largest producers of Acrolein. Considering the intermediate chemicals sector, the U.S. is estimated to show a fast growth over the coming years, in terms of export and trade of acrolein, followed by Europe and Japan. China will be the leading importer owing to its constantly growing plastic markets. India, will be next in line from Asia Pacific region, due to its steadily rising paints and polymer markets. The U.S. is the largest importer of acrolein biocide, while the rest of Asia Pacific countries such as Indonesia, Vietnam have potential biocide markets. Indonesia, might lead in the South East Asia region due to low labour and manufacturing costs. Over the forecasted period, Europe is slated to show an overall decline as it has a matured market. Rest of the World is anticipated to show potential growth for the acrolein market, especially from countries such as Brazil, Saudi Arabia and Argentina among others. Demand in this region is owing to rise in demand from paints & coatings and polymer industry.
Some of the major players across the globe are Akzo Nobel N.V., The Dow Chemicals Company, Shanghai Huachen Energy Company, Ltd. and The Shell Oil Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.