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Global Bio-Acrylic Acid Market Size to Reach USD 10.64 Billion in 2030 | Increasing Use of Bio-Acrylic Acids in Commercial Products is a Key Factor Driving Market Industry Demand, Says Emergen Research
Increasing adoption of bio-acrylic acids in various commercial products, such as medical products, hygiene products, elastomers, and polishes, are driving its demand. This is expected to drive market revenue growth. Additionally, bio-acrylic acids are widely used in adhesives, sealants, and infectants for improving product's quality, increase weather resistance, and extend shelf life. These are some factors that are expected to drive market revenue growth.
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Concerns regarding harmful toxins and chemicals used by manufacturers to improve its quality could be hazardous to health of consumers. Additionally, the super absorbent gel used in sanitary products could be harmful to consumers if it exceeds the time limit of usage. This could lead to skin infections, irritations, and other health problems.
The global bio-acrylic acid market is expected to register a CAGR of 6.8% over the forecast period, and revenue growth is projected to increase from USD 6.02 billion in 2021 to USD 10.64 billion in 2030. Increasing usage of bio-acrylic acids in commercial products is a key factor driving market growth.
The COVID-19 pandemic has led to downsizing of bio-acrylic acid industry, thereby limiting market growth. However, reopening of construction and commercial industries has led to increased reproduction of bio-acrylic acids. Additionally, increasing e-commerce businesses offer wide range of sanitary and personal hygiene products. This has led to the increased adoption of bio-acrylic acid in these products, which is expected to drive market growth during the forecast period.
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Rising usage of bio-acrylic acids in cleaning agents and infectants has led to an increase in their demand, which is expected to drive market revenue growth. Bio-acrylic acids are widely used in the production of liquid detergents and other cleaning agents to provide enhanced clay soil removal performance. This is expected to boost market revenue growth significantly during the forecast period.
North America is expected to register a significantly steady revenue growth rate during the forecast period. This is attributed to the rapid growth of superabsorbent polymer industry. This is expected to increase the adoption of bio-based acrylic acids and drive market revenue growth. In addition, rising awareness regarding the usage of renewable and bio-based products are sustainable for the environment. This is expected to drive market revenue growth.
Some major companies included in the market report are BASF SE, China Petroleum & Chemical Corporation (SINOPEC), Arkema S.A., Mitsubishi Chemical Holdings Corporation, The Dow Chemical Company, The Lubrizol Corporation, Evonik Industries AG, PTTGC Innovation America Corporation, Formosa Plastics Corporation, and SIBUR International GmbH
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a. U.S.
b. Canada
c. Mexico
a. Germany
b. France
c. U.K.
d. Italy
e. Spain
f. Benelux
g. Rest of Europe
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC
a. Brazil
b. Rest of LATAM
a. Saudi Arabia
b. UAE
c. South Africa
d. Turkey
e. Rest of MEA
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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