Downstream applications drive a rapid increase in demand for acrylic acid, and my country’s market concentration is high

Acrylic acid, with the chemical formula C3H4O2, is a colorless liquid at room temperature with a pungent odor. It is soluble in water, ethanol, ether, and chloroform. It is prone to polymerization with air. It is an important basic organic compound and contains a vinyl group. and a carboxyl group.

Acrylic acid is a vinyl monomer that polymerizes very quickly. It is mainly used to produce acrylates such as methyl/ethyl/butyl acrylate and hydroxyethyl acrylate, synthetic resins, synthetic rubber, synthetic fibers and other products. It is widely used in textiles, Papermaking, construction, automobile, metallurgy, water treatment, leather, coating, plastic processing and other fields.

According to the “2023-2027 Acrylic Industry In-depth Market Research and Investment Strategy Suggestions Report” released by the Industrial Research Center, globally Acrylic acid production capacity is about 9.2 million tons, and China’s acrylic acid production capacity is about 3.5 million tons, accounting for about 38% of global production capacity. my country has become the world’s major acrylic acid producer. At present, about 18% of the global acrylic acid production capacity is produced with old equipment, facing the problem of aging production equipment. my country’s acrylic acid production equipment was basically put into operation after 2000. The equipment is relatively new and the production efficiency is high, which provides good production conditions for the development of acrylic acid in China.

From the perspective of acrylic acid consumption structure, acrylate and acrylic acid are the main consumption areas of acrylic acid in my country. Among them, acrylate is the largest acrylic acid consumption field in my country, accounting for about 59% of the total acrylic acid consumption; followed by acrylic acid, accounting for about 26%.

From the perspective of acrylic acid terminal applications, coatings, adhesives, textiles, sanitary products, etc. are the main application fields of acrylic acid in my country, driving the demand for acrylic acid in my country to continue to rise. On the one hand, under the background of “carbon peak” and “carbon neutrality”, my country’s environmental protection policies have become increasingly strict, and green and environmentally friendly water-based coatings have developed rapidly, driving the development of upstream acrylic acid. On the other hand, my country is a major producer of adhesives, and its output has continued to rise in recent years, further driving up the demand for acrylic acid.

On the other hand, my country’s textile industry is at the leading level in the world and has the world’s largest and most complete textile industry chain. In recent years, with the vigorous promotion of policies, my country’s textile industry has continued to develop towards high-end development, and the market scale has continued to expand, driving the increase in acrylic acid production capacity. In this context, my country’s acrylic acid development prospects are broad.

Industry analysts said that from the perspective of acrylic acid companies, Wanhua Chemical, Jiangsu Sanmu, Shengke Chemical, Ningbo Formosa Plastics, Yangzi BASF, Zhejiang Satellite Petrochemical, Jiangsu Jurong Chemical, etc. are the main acrylic acid production enterprises in my country. my country’s acrylic acid market is highly concentrated. Five companies, Shengke Chemical, Shanghai Huayi, Satellite Petrochemical, Jurong Group, and Yangzi BASF, account for more than 60% of my country’s acrylic acid market share. Among them, Satellite Chemical is my country’s largest acrylic acid manufacturer, accounting for about 20% of my country’s acrylic acid market share.