At 4.5% CAGR, Asia Pacific Polyacrylic Acid Market is Projected to be Worth US$ 1,219.77 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific polyacrylic acid market was valued at US$ 859.58 million in 2023 and is expected to reach US$ 1,219.77 million by 2031, registering a CAGR of 4.5% from 2023 to 2031. Increasing demand for polyacrylic acid from detergent and cleaner applications and rising demand from paper & pulp industry are among the critical factors attributed to drive the Asia Pacific polyacrylic acid market growth.

The global paper & pulp industry is growing due to factors such as the expanding e-commerce sector, increasing demand for paper packaging products, and rising demand for eco-friendly packaging products. Countries in Asia such as China and Japan are major pulp and paper producers across the world. In India, the pulp and paper industry is a sizable manufacturing sector. The packaging business produces the majority of the country's paper. Over the years, the Indian industry has experienced great growth, with production rising from 20.37 million tonnes in 2017–2018 to 25 million tonnes in 2019–2020. As a result, the paper sector is growing at a pace of about 10% annually. In 2024, the industry is estimated to be worth US$ 9.6 billion (₹80,000 crore). The nation produces around 25 million tonnes of paper annually, according to estimates. In July 2022, Sapphire Papers Mill revealed its plans to raise paper unit capacity from 1,000 tpm to 4,500 tpm using recycled paper at Jagannathpur (West Bengal, India). Polyacrylic acid is used as a scale inhibitor and dispersant in papermaking. Also, it functions as a cross-linker and adhesion promotor in papers. The rising production of paper and pulp, fuels the polyacrylic acid market growth.

On the contrary, fluctuation in prices of raw materials hampers the growth of Asia Pacific polyacrylic acid market.

By form, the Asia Pacific polyacrylic acid market is segmented into powder and liquid. The powder segment held 56.3% share of Asia Pacific polyacrylic acid market share in 2023, amassing US$ 483.62 million. It is projected to garner US$ 680.70 million by 2031 to register 4.4% CAGR during 2023–2031.

In terms of dispersing agent, anti-scaling agent, thickeners, emulsifiers, ion-exchanger, and others. The anti-scaling agents segment held 29.9% share of Asia Pacific polyacrylic acid market share in 2023, amassing US$ 256.65 million. It is projected to garner US$ 360.71 million by 2031 to register 4.3% CAGR during 2023–2031.

Based on end-use industry, the Asia Pacific polyacrylic acid market is segmented into water treatment, personal care & cosmetics, detergents & cleaners, leather & textiles, pulp & paper, paints & coatings, ceramics, and others. The water treatment segment held 30.4% share of Asia Pacific polyacrylic acid market share in 2023, amassing US$ 261.32 million. It is projected to garner US$ 383.99 million by 2031 to register 4.9% CAGR during 2023–2031.

Based on country, the Asia Pacific polyacrylic acid market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 51.9% share of Asia Pacific polyacrylic acid market in 2023. It was assessed at US$ 446.35 million in 2023 and is likely to hit US$ 648.69 million by 2031, registering a CAGR of 4.8% during 2023–2031.

Key players operating in the Asia Pacific polyacrylic acid market are Arkema SA, Ashland Inc; BASF SE; Evonik Industries AG; Nippon Shokubai Co Ltd; Shandong ThFine Chemical Co., Ltd; Sumitomo Seika Chemicals Co Ltd; The Dow Chemical Co; and The Lubrizol Corp, among others.

• In 2023: Lubrizol Life Science Beauty launched a thickening agent Carbopol SC-800 for personal care products. The rheology modifier solution for mild and sulfate-free formulations is ideal for shower gels, shampoos and facial cleansers.

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