Nappies Segment to dominate Europe Glacial Acrylic Acid Market during 2020–2028

According to a new market research study on “Europe Glacial Acrylic Acid Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application,” is expected to reach US$ 700.28 million by 2028 from US$ 508.26 million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the Europe glacial acrylic acid market along with the drivers and restraints pertaining to the market growth. Vast range of applications for glacial acrylic acid, boosting use of superabsorbent polymers in diapers and hygiene products, and prospering technological advancements are the major factor driving the growth of the Europe glacial acrylic acid market. However, harmful nature of glacial acrylic acid hinders the growth of Europe glacial acrylic acid market.

In Europe, as per Statista, France recorded the highest number of COVID-19 cases as of June 2021. Also, Russia, UK, Italy, and Germany have been hit hard and are expected to suffer an economic hit due to the lack of revenue from various industries. European countries have implemented drastic measures and travel restrictions, including partially closing their borders. This scenario is hindering the growth of the glacial acrylic acid market in Europe. The ongoing COVID-19 pandemic has drastically altered the status of the glacial acrylic acid market and has negatively impacted its growth. The outbreak has declined operational efficiency and interrupted the value chains owing to the sudden closure of national and international boundaries, thereby creating revenue loss and damage. The disruptions in value chain has restricted the supply of raw material, which, in turn, is hindering the growth of the market and affecting the development of the end-use industries. However, as the economies are planning to revive their operations, the demand for glacial acrylic acid is expected to rise globally in coming months. With the growing consciousness toward sustainability and diversification of application bases in post-pandemic times, the demand for glacial acrylic acid is expected to take huge leaps in the future.

The Europe glacial acrylic acid market is segmented on the basis of application and country. Based on application, the market is segmented into nappies, adult & feminine hygiene, detergents, adhesives, coatings & sealants, water treatment, and others. In 2020, nappies segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the Germany, France, Italy, UK, Russia, and Rest of Europe. In 2020, Rest of Europe held the largest share in the market, and Germany is expected to be the fastest growing country during the forecast period.

The Dow Chemical Company; Arkema; BASF SE; Sasol; Tasnee; Mitsubishi Chemical Corporation; NIPPON SHOKUBAI CO., LTD.; and Formosa Plastics Corporation are among the leading companies in the Europe glacial acrylic acid market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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