Polyacrylic Acid (PAA) Market Size, Share, Growth, and Industry Analysis, By Type (Oily Liquid, Oily Solid, Water Emulsion, Others), By Application (Power, Chemical, Fertilizer, and Others), and Regional Forecast By 2031

Updated On: 29 April 2024

Polyacrylic Acid (PAA) Market Report Overview

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The global polyacrylic acid (PAA) market size was USD 568.2 million in 2022, as per our research, the market is expected to reach USD 927.34 million by 2031, exhibiting a CAGR of 5.6% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with polyacrylic acid (PAA) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

A high molecular weight acrylic acid polymer is polyacrylic acid (PAA). It is made by polymerizing acrylic ester of acrylonitrile and then hydrolyzing the resulting compound. The negatively charged or anionic polymers that are created when polyacrylic acid molecules dissolve in water absorb and hold onto the water molecules. Additionally, it is commonly utilized as an emulsifying and thickening agent in detergents, disposable diapers, and other fields like medicine, cosmetics, and paints. Its high demand might result in augmented polyacrylic acid(PAA) market share and revenue.

Due to its widespread use in water treatment, polyacrylic acid has seen tremendous expansion throughout the years. Consumption of water-soluble polymers like polyacrylic acid is anticipated to increase over the forecast period due to increased demand for water and wastewater treatment in municipal and industrial applications. In order to lower the rising expenses connected with the purchase of fresh water and the disposal of wastewater, large-scale players are anticipated to expand their efforts to reuse wastewater. As a result, the Polyacrylic Acid(PAA) Market worldwide is projected to exhibit tremendous growth potential.

COVID-19 Impact

"Pandemic to have a Negative Impact on the Polyacrylic Acid (PAA) Market Growth"

The polyacrylic acid (PAA) market was significantly impacted by the recent coronavirus outbreak. The demand for cosmetics and other personal care items that contain polyacrylic acid (PAA) in the form of gels and emulsifying agents has decreased as a result of the economic slowdown brought on by the pandemic. The global polyacrylic acid (PAA) market has suffered as a result. The pandemic-related economic slowdown has had a significant negative impact on the agricultural sector. A drop in the need for super absorbents for soil and other goods with significant investment have impacted agricultural demand for polyacrylic acid (PAA).

Latest Trends

"Development and Research Activities to Increase Growth"

Additionally, in the forecast period of 2022 to 2031, the market players will have profitable chances due to the rising number of developments in industrial as well as municipal water treatment. Additionally, the polyacrylic acid (PAA) market will continue to grow as research and development efforts for the use of biobased raw materials increase.

Polyacrylic Acid (PAA) Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into oily liquid, oily solid, water emulsion, others amongst which oily liquid is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into power, chemical, fertilizer, and others expected to be the leading segment.

Driving Factors

"High Demand Amongst End User to Proliferate the Polyacrylic Acid (PAA) Market Growth"

Increasing usage of the product as a thickener, dispersion, antiscalant, binder, and other applications are some of the major factors that are predicted to propel the expansion of the polyacrylic acid (PAA) market during the course of the forecast period. Additionally, the usage of polyacrylic acid (PAA) in wastewater treatment, sewage plants, and wastewater effluents is expanding quickly, fueling market expansion. It is anticipated that the broad application of polyacrylic acid (PAA) in a variety of end-use sectors will accelerate overall growth.

"Rapid Economic Growth to Surge Polyacrylic Acid (PAA) Market Growth"

The percentage of persons over 60 in the world's population will nearly double, predicts the World Health Organisation (WHO). During the forecast period, the demand for adult incontinence products is anticipated to be driven by rising health care standards, increasing life expectancy, and an ageing population. The market for polyacrylic acid is growing as a result. Additionally, polyacrylic acid (PAA) is crucial for decreasing hydrate formation, a problem that has grown significantly in oil and gas operations and is anticipated to be a significant consumer of polyacrylic acid. The polyacrylic acid (PAA) market will increase at a faster rate as people become more aware of its benefits.

Restraining Factors

"Governance Regulations to Hinder the Polyacrylic Acid (PAA) Market Growth"

Environmental authorities from both the government and the independent sector are looking into polyacrylic acid (PAA). For instance, the Toxic Substances Control Act (TSCA), the Clean Water Act (CWA), and other rules must be followed while using polyacrylic acid for water treatment. The World Health Organisation (WHO) and the International Agency for Research on Cancer (IARC) both continuously monitor polyacrylic acid. The Food and Drug Administration (FDA) has added sodium salt of polyacrylic acid (PAA)to its list of food additives. As a result, the polyacrylic acid (PAA) market is subject to stringent restrictions, which are expected to restrain market expansion throughout the forecast period.

Polyacrylic Acid (PAA) Market Regional Insights

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"Asia Pacific to Dominate the Market growth"

In terms of market revenue and market share, Asia-Pacific now holds a dominant position and is expected to maintain this position throughout the forecast period of 2022–2029. Increased industrial development in the wastewater treatment sector, rising levels of disposable income, and the expansion of the personal care sector in the area are all credited with driving market growth in this area.

The growing demand for products in superabsorbent polymers and industrial water treatment in the region, on the other hand, is expected to result in profitable growth in Europe over the projected period of 2022-2029.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Eastsong Group (U.K.)
• Classic Chemicals (India)
• Dong Tao Chem (China)
• Xin Tai Water (China)
• Innova Corporate (India)
• ZIBO SHUANGCHEN CHEMICAL (China)
• ITPAC (Brazil)
• Sigma-Aldrich (U.S.)
• Toxipedia (U.S.)
• Polysciences (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.