Global Acrylic Polymer Market- Driven Due to the Rising Demand for Products from Institutional and Industrial Cleaning Sectors, MarketsandMarkets™ Study

October 11 19:36 2022
Global Acrylic Polymer Market- Driven Due to the Rising Demand for Products from Institutional and Industrial Cleaning Sectors, MarketsandMarkets™ Study
Browse 129 market data Tables and 41 Figures spread through 144 Pages and in-depth TOC on “Acrylic Polymer Market”
Acrylic Polymer Market for Cleaning Application by Type(Water-borne & Solvent-borne), Application(Laundry & Detergent, Dish Washing, Industrial & Institutional, Hard Surface Cleaning) & Region(APAC, North America, Europe, RoW)

The acrylic polymer market for cleaning application is projected to grow from USD 580 Million in 2021 to USD 709 Million by 2026, at a CAGR of 4.1%. The acrylic polymer market for cleaning application is expected to register a 4.1% CAGR between 2021 and 2026. The water-borne accounted for the largest market share of 93.8% in 2020, in terms of value. Laundry & Detergent is estimated to be the largest application of acrylic polymer market for cleaning application during the forecast period, followed by dishwashing in terms of volume. With the increasing population, increasing per-capita income, changing lifestyle, and increasing usage of washing machines across the globe, the demand for laundry detergent is growing, which is subsequently driving the acrylic polymer market for cleaning application. Moreover, increasing demand for liquid dishwashing products in hotels, restaurants and food retails, and household applications further supports the growth of the acrylic polymer market.

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Acrylic polymers are polymers formed by the free radical polymerization of acrylic acid. Generally, photopolymers of acrylic polymer are formed by polymerization of acrylic acid, whereas co-polymer is formed by polymerization between acrylic acid and maleic acid. Acrylic polymers find application in cleaning products’ formulations. Generally, homo- and co-polymer of acrylic acid are used in the production of laundry detergents, dishwashing products, and other cleaning products. The main function of acrylic polymers is to act as builders and anti-soil re-deposition agents. In detergent formulation, acrylic polymers have replaced traditionally used phosphate builders, which is toxic in nature and harmful to the environment. These polymers offer good dispersion and fabric softening properties, owing to which, they are prevalently used in laundry detergent, dishwashing, hard surface cleaning, and other such products.

The major industry players have adopted expansions, agreements, and acquisitions as growth strategies in the last four years. The leading players in the market are The report includes Dow Inc. (US), BASF SE (Germany), Toagosei Co., Ltd. (Japan), Sumitomo Seika Chemicals Co., Ltd. (Japan), Arkema (France), Nippon Shokubai Co. Ltd. (Japan), and Ashland Global Holdings, Inc. (US).

Dow Inc., Dow Inc. serves as the holding company for The Dow Chemical Company (TDCC) and its consolidated subsidiaries. Dow Inc. operates through three main business segments; packaging & specialty plastics; industrial intermediates & infrastructure; and performance materials & coatings. Under the performance materials & coatings segment, the company offers acrylic polymer for cleaning application under the trademarks DURAPLUS, ACUSOL, and RHOPLEX. 

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BASF SE, BASF is among the leading chemical companies in the world. The company operates through various business segments, namely, Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care, and Agricultural Solutions segments. The company has six Verbund sites, 241 additional production sites in more than 90 countries, and three global research divisions in Europe, Asia Pacific, and North America. The company offers acrylic acid, acrylic monomers, and acrylic polymer products under the petrochemical sub-segment, a part of the chemical division. The company has an acrylic acid production capacity of 1,510 kilotons. The company offers products under the “Sokalan” brand name.

Toagosei Co., Ltd., Toagosei is engaged in the manufacture and sale of chemical and industrial products. The company operates through the following segments: Commodity Chemicals, Polymer & Oligomer, Adhesive Material, Performance Chemicals, Plastics, and Others. It sells acrylic polymer, acrylic monomers, and other products under the Polymer & Oligomer segment.

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The companies have initiated the following developments:

  • In August 2021, BASF and SINOPEC will further expand their Verbund site in Nanjing, China. It includes the capacity expansion of several downstream chemical plants, including a new tert-butyl acrylate plant by using acrylic acid and isobutene of the existing Verbund as feedstock.
  • In December 2020, Ashland Chemical Holdings Inc. increased production capacity for Aquaflow (Acrylic polymer) synthetic thickeners.
  • In November 2019, Nippon Shokubai Indonesia, an Indonesian subsidiary of Nippon Shokubai Co., Ltd., obtained Halal certification in Indonesia from Lppom Mui, a Halal certification authority affiliated with Majelis Ulama Indonesia, about acrylic acid (AA) and acrylates. This will boost the sale of acrylic polymers in the region.

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