Acrylic polymers market worth $709 million by 2026

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CHICAGO, April 5, 2022 /PRNewswire/ — According to new market research report Acrylic Polymers Market for cleaning application by type (water-based and solvent-based), application (laundry and detergent, dishwasher, industrial and institutional, hard surface cleaning), and region (APAC, North America, EuropeRoW) – Global Forecast to 2026″published by MarketsandMarkets™, the market is expected to rise from $580 million in 2021 for $709 million by 2026, at a CAGR of 4.1%. Water transportation accounted for the largest market share of 93.8% in 2020, in terms of value. Laundry and detergents are estimated to be the largest application of the acrylic polymers market for cleaning applications during the forecast period, followed by dishwashing in terms of volume. With increasing population, rising per capita income, changing lifestyle and growing use of washing machines across the world, the demand for laundry detergent is increasing, which is boosting through the following the market for acrylic polymers for cleaning applications. Additionally, the growing demand for liquid dishwashing products in hotels, restaurants, and food retailers, as well as household applications, further supports the growth of the acrylic polymers market.

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Due to the COVID-19 pandemic, there is a growing awareness of hygiene and cleanliness in public places, and governments have issued guidelines to take utmost precaution to prevent the spread of the virus. Thus, the demand for cleaning products in industrial and institutional places has increased significantly across the globe, which in turn is supporting the growth of the acrylic polymers market for cleaning applications. However, due to fluctuating crude oil prices and rising commodity prices across the globe, market growth might be limited in the coming years.

Waterborne products are the largest segment by type in the acrylic polymers market for cleaning applications.

Based on type, the water-based acrylic polymers segment is estimated to account for the largest share of the overall market. The main driver of this segment is high solubility, dispersion in cleaning products and growing demand for durable products. It also helps to improve the performance and efficiency rate of cleaning products, due to which it is commonly used in Europe and North America. However, the cost of the water-based product is high compared to the solvent-based product.

Laundry and detergents constitute the largest segment by application in the acrylic polymers market for cleaning applications.

The laundry and detergents segment is estimated to account for the largest share of the overall acrylic polymers market for cleaning applications in 2020, closely followed by the dishwashing segment. With increasing population, rising per capita income, changing lifestyle and growing use of washing machines across the world, the demand for laundry detergent is increasing, which is boosting through the following the market for acrylic polymers for cleaning applications. Additionally, the growing demand for liquid dishwashing products in hotels, restaurants, and food retailers, as well as household applications, further supports the growth of the acrylic polymers market.

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North America is estimated to be the largest market for the acrylic polymers market for cleaning applications.

North America accounted for the largest share of the acrylic polymers market for cleaning applications in 2020, followed by Europe. In Europe and North AmericaStrict regulations and rising demand for sustainable laundry & detergents and other cleaning products have supported the growth of the acrylic polymers market for cleaning applications across the regions.

The major players in the acrylic polymers market for cleaning applications are Dow Inc. (USA), BASF SE (Germany), Toagosei Co., Ltd. (Japan), Sumitomo Seika Chemicals Co., Ltd. (Japan), Arkema (France), Nippon Shokubai Co. Ltd. (Japan), Ashland Global Holdings, Inc. (USA) and others.

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