LONDON--(EON: Enhanced Online News)--Technavio has announced the top five leading vendors in their recent global acrylic acid and its derivatives market report until 2020. Vendors are identified based on their revenue and market dominance in terms of experience, geographical presence, product portfolio, financials, and R&D.
Acrylic acid is a colorless organic compound with a characteristic acrid odor. The major derivative of acrylic acid is acrylic ester, which accounts for almost half of the world demand. Unrefined acrylic acid is mostly used in paint, textile, adhesives, personal care, and coatings. Glacial acrylic acid is used in superabsorbent polymers (SAP). The scope of demand for acrylic acid and its derivatives is extensive and its applications range from household refurnishing and industrial equipment to buildings.
APAC accounted for the largest market segment in 2015, accounting for 33.02% of the market. The market in the region is expected to show considerable growth over the forecast period to reach 36.37% in 2020. The growth can be attributed to factors such as industrialization, rising disposable incomes, and population growth.
Competitive vendor landscape
“Proprietorship over technology, economies of scale, R&D capabilities, and level of downstream integration, which includes the reach of the distribution networks, are the factors that play a crucial role in defining the competitive structure of the market. R&D plays an important role as it is an avenue to differentiate products and gain proprietorship over the manufacturing processes,” says Ajay Adikhari, one of the lead analysts at Technavio for specialty chemicals research.
The global acrylic acid and its derivatives market is fragmented with the presence of several vendors. The market is led by global vendors that have a vast geographic presence. In addition, there are many small vendors that have regional dominance.
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Top five vendors in the global acrylic acid and its derivatives market
Arkema operates mainly through its high-performance materials, industrial specialties, and coating solutions segments. The high-performance materials segment offers specialty polyamides, fluoropolymers, functional additives, and molecular sieves. The industrial specialties segment provides thiochemicals, fluorochemicals, hydrogen peroxide, and PMMA. The coating solutions segment offers acrylics, coating resins, photocure resins, and rheology additives. In the acrylic acid segment, this company provides coating solutions, industrial specialties, and high performance materials.
BASF provides an expansive variety of chemicals, plastics, performance and crop protection products, and explores oil and gas. It serves paper, furniture, automotive, and other industries and has customers in 200 countries worldwide. BASF offers acrylic monomers such as glacial acrylic acids, butyl acrylates, and 2-ethyl hexyl acrylate. It offers these products for adhesive, paper, construction, and coating industries and applications. It also offers plasticizers, including dioctyl phthalates for automotive and household flooring, coatings, wire and cable, footwear, and polyvinyl chloride packaging sheets industries.
Evonik Industries is a specialty chemicals company. It produces polymer materials and intermediates for the rubber and plastics industries. The segment comprises performance polymers and advanced intermediates business units. Some of the products offered under performance polymers unit include methacrylate monomers (used in coatings and plastics) and methacrylate polymers (used in construction materials for the automotive and electricals and electronic industries). Some of the advanced intermediates offered by the business unit includes alcoholates (used in catalysts for biodiesel and pharmaceuticals) and cyanuric chloride (used in industrial applications).
Mitsubishi Chemical Holdings
Mitsubishi Chemical Holdings operates through electronic applications, designed materials, health care, chemicals, and polymers segments. The company's ultra-pure acrylic acid is used for manufacturing highly water-absorbent resins for use in diapers and incontinence products. Acrylic acid esters are used as raw materials for manufacturing synthetic rubbers and resins, and water-based paints and adhesives. These products are gaining prominence as environmentally friendly materials as they are compatible with water.
Nippon Shokubai operates mainly through basic chemicals, functional chemicals, and environment and catalysts businesses segments. The basic chemicals segment offers acrylic acid and ethylene oxides. The functional chemicals segment provides super-absorbent polymers and polymers for concrete admixtures. The environment and catalysts segment offers automotive catalysts and fuel cell materials. The company generated revenue of USD 3.18 billion in 2015. Acrylic acid and superabsorbent polymers are the core businesses of Nippon Shokubai. The company has the largest production capacity for acrylic acid. It not only produces acrylic acid but also its derivative products, such as such as acrylates and superabsorbent polymers. These products are used as raw materials for adhesives, diapers, and paints.
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