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Glacial Acrylic Acid (GAA) Market

Glacial Acrylic Acid (GAA) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Glacial Acrylic Acid (GAA) Market Introduction

  • Glacial acrylic acid (GAA) is a clear, colorless liquid with pungent odor. It is highly reactive. Its chemical formula is CH2=CHCO2H. GAA is produced through the catalyzed oxidation of propene.
  • GAA is used as a chemical intermediate in the manufacture of chemicals and chemical products, primarily acrylate esters and acrylate salts. It is also used as a building block to produce homo- and co-polymers. Lower alkyl acrylates such as methyl acrylate and ethyl acrylate are primarily produced by an acid-catalyzed esterification reaction of acrylic acid and alcohol, respectively.
  • GAA offers properties of acetic acids. These include the ability to form salts, anhydrides, acid chlorides, and esters. It also exhibits properties of double bonds such as addition, cyclization, polymerization, and copolymerization reaction.
  • In terms of end-use industry, the global GAA market can be segmented into surfactants & coatings, water treatment, detergents, SAP, textiles, and others. The SAP segment is expected to expand at a significant pace during the forecast period. GAA is largely used in the production of superabsorbent polymers, which are primarily employed in hygiene and personal care products. The surfactants & coatings end-user segment is anticipated to account for significant share of the global GAA market during the forecast period owing to rise in demand for coatings in automotive, aerospace, and paper industries.

Key Drivers of Glacial Acrylic Acid (GAA) Market

  • Increase in demand for GAA in the personal care industry due to its superabsorbent properties is expected to drive the market during the forecast period. Rise in production of surfactants, surface coatings, and adhesives & sealants in various developing countries is also expected to boost the market.
  • GAA is also used as a chemical intermediate to produce other monomers by transesterification of molecules through chemical synthesis, because of their high affinity for addition reactions with many inorganic and organic compounds. The resulting materials are ingredients used in coatings, elastomers, water treatment, leather finishing, adhesives & sealants, thickeners, surfactants, fibers, plastics, textiles, inks, and pharmaceutical intermediates. Thus, rise in usage of GAA as chemical intermediate is estimated to drive the GAA market during the forecast period.
  • Major market players such as BASF SE, Dow Chemicals, Cargill, and Novozyme are investing significantly in the development of bio-based GAA. This is further expected to augment the demand for GAA in the next few years.
  • Superabsorbent polymers are mainly used in the preparation of baby diapers, female hygiene, and personal care products. Thus, rise in demand for superabsorbent polymers in personal care products and hygiene products is boosting the GAA market.

Key Restraints of Glacial Acrylic Acid (GAA) Market

  • Volatility in prices of propylene, and low adoption & awareness in underdeveloped countries about GAA is projected to hamper the market during the forecast period
  • GAA is corrosive, and needs to be stored in glass, stainless steel, or polyethylene containers. It must also be stored under air atmosphere, as the presence of oxygen is essential to activate the stabilizer. GAA should not be stored for excessive periods, because of the irreversible formation of dimers. These storage conditions are very costly. Thus, high cost associated with storage and preservation of GAA can hamper the market.
  • Stringent regulatory measures have been enacted on the usage of GAA due to its high toxicity and rise in environmental concerns across the globe. This is expected to adversely impact the market in the near future.

Impact of COVID-19 on Glacial Acrylic Acid (GAA) Market

  • The coronavirus pandemic has adversely affected the global economy. Various governments across the globe are undertaking lockdown measures to curb the spread of the pandemic. Industrial activities have come to a halt, while manufacturing facilities have shut down. These measures take a significant toll on almost all industrial sectors, as factories are facing supply chain breakdowns and labor shortages.
  • The organic chemical industry is facing the impact of the COVID-19 pandemic. Supply chains are being disrupted by outbreaks in key countries such as China, India, Japan, the U.S., and Germany. Demand for GAA is likely to decline in the near future due to uncertainty in the global economy and capital markets.

Asia Pacific to Hold Major Share of Global Glacial Acrylic Acid (GAA) Market

  • In terms of region, the global GAA can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Asia Pacific is projected to hold major share of the global market in terms of consumption during the forecast period. Rise in demand for GAA in various end-user industries such as chemical, water treatment, detergent, and personal care and hygiene is expected to boost the market in the near future.
  • China is currently the second largest market for personal care and hygiene products in the world. It is expected to become the largest in the near future. Thus, growth in personal care and hygiene market is estimated to create lucrative opportunities for the GAA during the forecast period.
  • North America is also projected to account for vital share of the global GAA market during the forecast period. Increase in geriatric population in the U.S. and Canada is expected to augment the demand for adult incontinence products. This, in turn, is likely to boost the consumption of GAA in the near future.
  • The market in Europe and Latin America is projected to expand at a moderate pace during the forecast period

Key Players Operating in Global Glacial Acrylic Acid (GAA) Market

  • Dow
  • OPX Bio
  • Novoenzymes
  • Cargil
  • Arkema
  • BASF SE
  • Novomer
  • Metabolix
  • Nippon Shokubai

Global Glacial Acrylic Acid (GAA) Market: Research Scope

Glacial Acrylic Acid (GAA) Market, by Purity

  • GAA 100%
  • GAA 80%

Glacial Acrylic Acid (GAA) Market, by End-user Industry

  • Surfactants & Coatings
  • Water Treatment
  • Detergents
  • SAP
  • Textiles
  • Other

Glacial Acrylic Acid (GAA) Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Glacial Acrylic Acid (GAA) Market

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