The Bio-Acrylic Acid market is estimated to be worth USD 0.4 billion in 2022 and is projected to reach 0.9 billion by 2027, at a CAGR of 15.6%. Bio-acrylic acid is considered a more sustainable and environmentally friendly alternative to traditional acrylic acid, as it reduces the dependence on non-renewable resources and can potentially reduce greenhouse gas emissions associated with traditional acrylic acid production. It is used in a variety of applications, including the production of plastics, coatings, adhesives, and superabsorbent polymers.
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Bio-Acrylic Acid Companies
The major applications of Bio-Acrylic Acid include paints and coatings, surfactants, adhesives and sealants, textiles, and sanitary products. China and India are projected to be the growth engines for the global bio-acrylic acid market.
The demand for Bio-Acrylic Acid is mainly furnished by players manufacturing for various end-use industries. Some of the leading companies involved in the manufacturing of Bio-Acrylic Acid are Arkema SA (France), BASF SE (Germany), LG Chem Ltd.(Korea), China Petroleum and Chemical Corporation (China), NIPPON SHOKUBAI CO., LTD(Japan), The Dow Chemical Company (US), Evonik Industries AG (Germany), and SIBUR (Russia) and others are covered in the Bio-Acrylic Acid market. These companies, along with other regional companies, cater to the demand for Bio-Acrylic Acid.
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BASF SE (Germany) is engaged in the chemical manufacturing and distribution of chemicals, performance goods, functional materials, and agricultural products. The company’s products are used in various end-use industries, including chemical and plastics, automotive, coatings, oilfield, construction, furniture, packaging, textiles, and pharmaceuticals. The company operates through five segments: Chemicals, Materials, Surface Technologies, Industrial Solutions, and Agricultural Solutions. The company offers acrylic acid products through its Chemicals segment. The company is one of the prominent manufacturers of acrylic acid and acrylates, with six production sites across the globe.
China Petroleum and Chemical Corporation (China), popularly known as Sinopec Corp, is an integrated energy and chemical company in China. The company deals with the production and supply of petroleum, natural gas, petrochemical, and chemical products. The company classifies its business operation into five segments: Marketing and Distribution, Chemicals, Refining, Exploration and Production, and Corporate and Others. It offers a wide range of products and services in various businesses, including exploration and oil production, refining and sales, chemicals, and research and development. The company offers acrylic acid under its Chemicals segment.
LG Chem Ltd. is involved in the petrochemicals, pharmaceuticals, and specialty businesses. Basic chemicals such as ethylene, propylene, and their derivatives, as well as PVC, acrylates, and engineering plastics, are produced by the petrochemicals plant. The company has created a vertically integrated system in the petrochemicals business, from fundamental raw materials such as ethylene and propylene to downstream products such as PE, ABS, acrylates, and synthetic rubber. The advanced materials division manufactures rechargeable batteries, RO filters, IT materials, semiconductors, and other technologically advanced products. The company offers acrylates through the petrochemical division. It has approximately 25 chemical subsidiaries and approximately 15 electronic subsidiaries.
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