Scienza e Tecnologia
Polyacrylic Acid Market to Reach $6.7 billion, Globally, by 2032 at 5.4% CAGR: Allied Market Research
The polyacrylic acid market has experienced growth due to several factors such as industrial growth, rise in construction activities, and infrastructure development. However, fluctuating raw material prices hinder market growth to some extent. Moreover, the rise in the adoption of sustainable practices offers remunerative opportunities for expanding the polyacrylic acid market.
By type, the synthetic segment held the highest market share in 2022, accounting for more than four-fifths of the Polyacrylic acid market revenue, and is estimated to maintain its leadership status throughout the forecast period. The increase in the geriatric population, childbirths, water quality concerns, and technological advancements in developing countries are driving demand for adult diapers due to polyacrylic acid's superabsorbent properties. The synthetic polyacrylic acid market is also promising. However, the bio-based segment is projected to manifest the highest CAGR of 5.9% from 2023 to 2032. The demand for sustainable products is driving industries to prioritize sustainability, with bio-based polyacrylic acid, derived from renewable resources, experiencing growth. The increase in the demand for bio-friendly chemicals from consumers is expected to positively impact the market growth. The circular economy and emerging economies with environmental concerns also present opportunities for market development.
By application, the scale inhibitor segment held the in 2022, accounting for nearly one-fourth of the Polyacrylic acid market revenue, and is estimated to dominate during the forecast period. Industrialization drives demand for water treatment solutions in sectors like power generation, chemical manufacturing, and oil and gas. Environmental regulations, water scarcity concerns, industry expansion, and technological advancements drive market growth. Infrastructure development projects, collaborations, and awareness about scale deposition's effects increase demand for polyacrylic acid scale inhibitors.
However, the thickeners segment is projected to manifest the highest CAGR of 6.2% from 2023 to 2032. The growing demand for cosmetics and personal care products has increased the demand for polyacrylic acid as a thickener. The global cosmetics and personal care industry, valued at $518.6 billion and projected to double by 2030, presents significant opportunities for the polyacrylic acid market. The eco-friendly nature of polyacrylic acid aligns with the industry's emphasis on natural and organic formulations. The thriving e-commerce landscape and industry commitment to innovation contribute to the positive outlook for polyacrylic acid.
By end-use industry, the water treatment segment held the highest market share in 2022, accounting for nearly one-fourth of the Polyacrylic acid market revenue, and is estimated to dominate during the forecast period. Industrialization, urbanization, and population growth are increasing water pollution, necessitating the use of polyacrylic acid for efficient water treatment. This polymer, with water-absorbing and water-retaining properties, can improve efficiency. The adoption of advanced water treatment chemicals, such as polyacrylic acid, is expected to increase due to stringent environmental regulations and technological advancements. This market presents promising opportunities for polyacrylic acid.
However, cosmetics segment is projected to manifest highest CAGR of 6.80% from 2023 to 2032. The Indian cosmetics industry is growing due to rising disposable income, changing lifestyles, and personal grooming awareness. This growth is driving demand for sustainable ingredients like polyacrylic acid, which enhances texture and stability. The expanding middle-class population is spending on premium products, creating opportunities for manufacturers to develop customized formulations. Collaborations with cosmetic manufacturers are also possible. Regulatory compliance is crucial for polyacrylic acid suppliers.
By region, the Asia-Pacific segment held the highest market share in 2022, accounting for more than half of the Polyacrylic acid (PAA) market revenue, and is estimated to dominate the market during the forecast period. In Asia-Pacific , the demand for PAA is driven by rapid industrialization, urbanization, and an increase in focus on environmental sustainability. Several countries in the region, including China , Japan , South Korea , and India , have significant manufacturing capacity of PAA and consumption of PAA across various industries. In addition, advancements in technology and the development of eco-friendly formulations are expected to further boost the adoption of PAA in Asia-Pacific .
The report provides a detailed analysis of these key players in the polyacrylic acid market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar , the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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