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

According to a new market research study on “North America Glacial Acrylic Acid Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application,” is expected to reach US$ 496.25 million by 2028 from US$ 374.87 million in 2021. The market is estimated to grow at a CAGR of 4.1% from 2021 to 2028. The report provides trends prevailing in the North America glacial acrylic acid market along with the drivers and restraints pertaining to the market growth. Growing use of superabsorbent polymers in diapers and hygiene products, broad range of applications for glacial acrylic acid, and raising production of glacial acrylic acid from renewable resources are the major factor driving the growth of the North America glacial acrylic acid market. However, hazardous nature of glacial acrylic acid hinders the growth of North America glacial acrylic acid market.

The US recorded the highest number of COVID-19 confirmed cases than Mexico and Canada. The crisis adversely affected the chemicals & materials industry in the region due to restricted supply chain. In addition, the overall disruptions in manufacturing processes, research, and development activities restrained the growth of the glacial acrylic acid market. 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 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 North America 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 US and Canada. In 2020, the US held the largest share in the market, and it is also 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 North America 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. For instance, Arkema has successfully brought a new 90,000-ton per year acrylic acid reactor at its Clear Lake, Texas site. The new reactor, which is equipped with the latest production technologies, replaces two decommissioned reactors of 45,000 tons each. The investment of approx US$ 90 million positions Clear Lake as one of the most competitive acrylic acid sites in the US. This new capacity will enable the Group to promote the growth of its North American customers in markets such as paints and coatings, superabsorbents, adhesives, and polymers for water treatment and enhanced oil and gas recovery. In addition, this expansion consolidates Arkema’s position as the second-largest producer of acrylic acid in the region.

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