Report Predicts Healthy Growth in Market for Acrylic Acid
PUNE, India – A recent market study by Persistence Market Research on the global acrylic acid market includes global industry analysis for 2014 to 2018 and forecast for 2019 to 2029. According to the study, the global acrylic acid market is expected to be valued at approximately $19,700 million in terms of value by the end of 2019, and is estimated to see a healthy compound annual growth rate of approximately 5% through the next decade.
The paints and coatings industry has witnessed robust growth across the globe. There has been a significant rise in the demand for paints and coatings across various regions, especially in South Asia and East Asia, due to rapid industrial growth and increasing construction activities. Governments of developing countries such as China and India are also investing in improving infrastructure, which is a major factor driving the demand for paints and coatings, resulting in increased demand for acrylic acid. Additionally, the use of acrylic acid for coatings in textiles is also propelling demand for acrylic acid from the textile industry.