Acrylic Polymer Market Industry Leaders
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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Browse 129 market data Tables and 41 Figures spread through 144 Pages and in-depth TOC on "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) - Global Forecast"
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.
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 Paciļ¬c, 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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Acrylic Polymer Market Industry New Revenue Pockets
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. Increasing awareness and emphasis on hygiene and cleaning measures, along with increasing demand for high-performance, sustainable, and eco-friendly cleaning products, are fueling the growth of the acrylic polymers market for cleaning application. The stringent regulations and norms are also supporting the market growth.
Acrylic polymer market for cleaning application can be broadly classified into water-borne, and solvent-borne, based on type. The selection of a type depends on the application area and cost of materials, among others. Due to the alkaline nature of water-borne acrylic polymer, it is majorly used in household cleaning products such as dishwashing soaps, laundry & detergents, fabric softeners, and hard surface cleaners; whereas solvent-borne acrylic polymers are mainly used in sensitization and disinfectant of the surface. It is used to remove hard stains of oil and grease when used in laundry detergents. Across the globe, the market is propelled by the growing awareness of hygiene and cleanliness, coupled with the rising demand for cleaning products in households, institutions, and industrial facilities due to the COVID-19 pandemic. In addition, the growth can be attributed to cleanliness standards mandated by authorities and the mounting pressure to sanitize public places.
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The global acrylic polymer market is segmented based on application into laundry & detergents, dishwash, industrial & intuitional cleaning, hard surface cleaning, and other applications. These cleaning products are mainly used in the form of liquid or powder cleaners. Acrylic polymers are used to improve the performance of cleaning products. The use of acrylic polymers in cleaning applications helps provide better stain and soil removal and excellent dispersion quality at a moderate cost. It also helps to make sustainable products by offering low toxicity.
The acrylic polymer market for cleaning application is divided into four regions, namely, North America, Asia Pacific, Europe, and the Rest of World. North America accounted for the largest share of the acrylic polymer market in 2020. In Europe and North America, stringent regulations and increasing demand for sustainable laundry & detergents and other cleaning products have supported the growth of the acrylic polymer market. Asia Pacific is projected to be the fastest-growing market between 2021 and 2026.
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