The India Acrylic Acid market has grown in the historic years to reach around 64 thousand tonnes in FY2023 and is expected to hike at a steady CAGR of 5.73% during the forecast period until FY2035.
Acrylic Acid is a colorless liquid with a characteristic smell. This compound has a chemical formula of C3H4O2. Acrylic Acid is produced by the direct oxidation of Propylene. This acid is water miscible as well as mixes well with chemical reagents such as alcohol, acetone, and chloroform. Acrylic acid is used as a feedstock for manufacturing of acrylic esters and resins, which are further utilized by adhesives and coatings sectors. Additionally, acrylic acid is utilized in water treatment chemicals, detergent surfactants, and oil treatments chemicals.
Owing to the use of acrylic acid in paints & coatings, which has, in which, acrylic acid is a crucial component in the country coupled with increasing demand for Acrylic Acid in plastics, Super Absorbent Polymers (SAPs), surface coatings, adhesives & sealants, textile, plastic additives, diapers & training pants, adult incontinence is anticipated to swell up the demand of Acrylic Acid in the forecast period till FY2035. Additionally, demand for Acrylic Acid is fueled by its higher usage in diaper application segments, owing to its ability to absorb and retain water. The use of Acrylic Acid in surface coatings is also gaining popularity and accounted for the largest market share of acrylic acid. These factors would contribute to the growth of the Acrylic Acid demand in the country. The India Acrylic Acid market is anticipated to reach 260 thousand tonnes by FY2035.
Based on the region-wise consumption, the Acrylic Acid market is segmented into West, South, North, and South. Although during the FY2015-FY2023, west India displayed a highest consumption among all other parts of India, with sates like Gujarat and Maharashtra being the leading consumers. The primary reason this demand is the location of importing ports in Western India and a higher concentration of Acrylic Acid consuming industries in the region.
As of FY2022, there is only one producer of acrylic acid in India, Bharat Petroleum Corporation Limited (BPCL), situated in Kochi, India. The Honorable Prime Minister of India inaugurated this plant on 14th February 2021. This plant has an annual capacity of 160 thousand tonnes per annum. Out of which 47 thousand tonnes is Dedicated capacity for merchant sales and rest is used to produce acrylates. Before this, the demand for acrylic acid in India was solely dependent on export from other nations. Furthermore, a new Acrylic Acid plant by Indian Oil Corporation Limited (IOCL) Acrylic Acid plant, is expected to be commissioned by November 2023 (FY 2024) with capacity of 90 thousand tonnes in Gujarat.
Based on end-use segment, the India Acrylic Acid market is segmented into Water Treatment, Detergent, Acrylate Ester (Butyl Acrylate), Super Absorbent Polymer, and Others. Water Treatment is dominating the India Acrylic Acid market and with a share of roughly 40% in FY2023. Super Absorbent Polymer (SAP) will also be a significant driver of the future growth of acrylic acid consumption in the coming years. Super Absorbent Polymer displays amazing absorption properties and finds application for manufacturing hygiene products like sanitary napkins and baby diapers.
Years considered for this report:
Historical Period: FY2015-FY2023
Base Year: FY2023
Estimated Year: FY2024
Forecast Period: FY2025- FY2035
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Objective of the Study:
• To assess the demand-supply scenario of Acrylic Acid which covers production, demand and supply of Acrylic Acid market in India.
• To analyse and forecast the market size of Acrylic Acid in India.
• To classify and forecast India Acrylic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Acrylic Acid market in India.
To extract data for India Acrylic Acid market, primary research surveys were conducted with Acrylic Acid manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Acrylic Acid market over the coming years.
ChemAnalyst calculated Acrylic Acid demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Acrylic Acid to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Acrylic Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Acrylic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acrylic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, India Acrylic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in FY2023
64 thousand tonnes
Market size Volume by FY2035
260 thousand tonnes
Growth Rate
CAGR of 5.73% from FY2024 to FY2035
Base year for estimation
FY2024
Historic Data
FY2015 – FY2023
Forecast period
FY2025 – FY2035
Quantitative units
Demand in thousand tonnes and CAGR from FY2023 to FY2035
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: [Water Treatment, Detergent, Acrylate Ester (Butyl Acrylate), Super Absorbent Polymer, and Others]
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Northern India, Southern India, Eastern India, Western India
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Acrylic Acid market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Acrylic Acid.
3. Capacity By Location
To better understand the regional supply of Acrylic Acid by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Acrylic Acid by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry [Water Treatment, Detergent, Acrylate Ester (Butyl Acrylate), Super Absorbent Polymer, and Others] are creating a market and the forecast for the growth of the Acrylic Acid market.
7. Demand by Region
Analyzing the change in demand of Acrylic Acid in different regions across India, i.e: Northern India, Southern India, Eastern India, Western India, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Acrylic Acid. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Acrylic Acid.
10. Company Share
Figure out what proportion of the market share of Acrylic Acid is currently held by leading players across India.
11. Country-wise Import
Get details about quantity of Acrylic Acid imported by major countries.
12. Manufacturing Process
Discover insights into the intricate manufacturing process of Acrylic Acid.
13. Policy and Regulatory Landscape
Gain a comprehensive understanding of the policy and regulatory landscape within the Acrylic Acid market.
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What is the India market size of Acrylic Acid in terms of volume for FY2022?
Ans:
The India market size of Acrylic Acid is approximately 100 thousand tonnes by FY2022.
Q2.
Which region of India is expected to have the highest demand for Acrylic Acid in FY2023?
Ans:
The western region is anticipated to consume the majority of Acrylic Acid in FY2023.
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