How Is The Global Polyacrylic Acid Market Defined?
Polyacrylic acid (PAA) is a synthetic polymer made from acrylic acid, known for its high water-absorbing capacity and viscosity-modifying properties. It is widely used as a thickening agent in cosmetics and paints, a dispersant in detergents, and in superabsorbent materials. PAA is also utilized in pharmaceutical formulations and medical applications due to its ability to retain moisture and improve the consistency of various products.
Polyacrylic Acid Global Market Report 2024 provides data on the global polyacrylic acid market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The polyacrylic acid market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Polyacrylic Acid Market Size And Annual Growth Rates?
The polyacrylic acid market has seen significant growth in recent years, expected to grow from $3.34 billion in 2023 to $3.56 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.5%. The growth is driven by rising demand in personal care products, the expansion of polyacrylic acid applications, increasing disposable incomes, growth in adhesives and sealants, and regulatory support. The market is projected to grow to $4.6 billion by 2028, at a CAGR of 6.6%. This growth is attributed to rising consumer awareness, the expansion of the cosmetic industry, urbanization, increased infrastructure projects, and the growth of beauty and personal care sectors. Major trends in the forecast period include the development of superabsorbent polymers, technological advancements, improved polyacrylic acid formulations, the creation of new types of polyacrylic acids, and enhanced formulations.
Which Key Drivers Are Propelling The Polyacrylic Acid Market's Growth?
The growing demand for personal care products is expected to propel the growth of the polyacrylic acid market. Increased consumer awareness of hygiene, self-care, and grooming is fueling the demand for personal care products, such as skincare and cosmetics. Polyacrylic acid is used in these products for its thickening, emulsifying, and moisture-retention properties. According to the Cosmetic Toiletry & Perfumery Association, the personal care industry saw growth in sectors like color cosmetics and skincare in 2023, supporting the demand for polyacrylic acid.
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What Are The Key Segments Within The Global Polyacrylic Acid Market?
The polyacrylic acid market covered in this report is segmented –
1) By Type: Copolymer, Homopolymer, Terpolymer
2) By Physical State: Liquid Polyacrylic Acid, Powder Polyacrylic Acid
3) By Grade: Industrial Grade, Cosmetic Grade, Pharmaceutical Grade
4) By Application: Thickeners, Dispersing Agents, Conditioners, Emulsifiers, Anti-Scaling, Ion Exchangers, Clarifying Agents
5) By End User: Water Treatment, Personal Care, Detergents And Cleaners, Other End Users
How Are New Trends Impacting The Size Of The Template Polyacrylic Acid Market?
In the polyacrylic acid market, companies are focusing on high-performance additives like modified polymers to boost product stability and performance. Modified polymers, altered chemically or physically, enhance characteristics like strength and thermal stability. In August 2023, Lubrizol Life Science Beauty, part of The Lubrizol Corporation, launched Carbopol SC-800 polymer, a hydrophobically modified cross-linked polyacrylic acid polymer. It delivers efficient thickening and stabilization for sulfate-free cleansers, offering superior clarity, suspension, and foam quality in personal care formulations.
Which Region Drives The Highest Growth In The Polyacrylic Acid Market?
Asia-Pacific was the largest region in the polyacrylic acid market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the polyacrylic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
