Global demand acrolein market was stood at approximately 620 kilotons in 2018 and is expected to reach 890 kilotons by end of 2025, growing at a CAGR of around 6% between 2019 and 2025.
The report covers forecasts and analyses for the acrolein market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion) and volume (Kilotons). The study includes drivers and restraints for the acrolein market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the acrolein market on a global level.
As per the report, the global demand for the acrolein market stood at approximately 620 kilotons in 2018 and is expected to reach 890 kilotons by end of 2025, growing at a CAGR of around 6% between 2019 and 2025.
Acrolein is the simplest unsaturated aldehyde, also known as 2-propenal. Acrolein is a liquid without color and has an unpleasant acrid aroma. Acrolein is produced from propylene and glycerine petrochemical feedstuffs. Acrolein is used mostly as an important medium and chemical specialty owing to its versatile use in plastics and paint industries. The catalytic oxidation of propylene in the presence of air is one of the most widely used industrial methods for preparing acrolein. In addition, glycerin and propane as alternative feedstock for acrolein have emerging trends.
Increasing demand from agrochemicals, plastics, and polymer industries are a few of the main drivers of demand for the acrolein market. Acrylic acid and methionine acrolein are mainly used in the preparation of intermediate preparations. Acrylic acid polymers are mostly consumed in emulsifiers, coatings, and adhesives. They are also used as super absorbing agents in clothes and hygiene pads. However, taking into consideration some of the major issues, it is estimated that the global acrolein market scenario will show a significant change in the region's wise economies. Production of acrolein currently relies on feedstocks for crude oil. These feedstocks are mainly used in petrochemical industries. This has led to fluctuations in the price of propylene-based crude oil, uncertain availability of glycerol, and resource depletion, which are expected to hamper acrolein market growth over the coming years.
The U.S., Japan, and Europe are the major acrolein's largest producers. The U.S is anticipated to experience rapid growth in export and acrolein trade over the coming years, followed by Europe and Japan, taking into account the intermediate chemicals sector. China is expected to be the leading importer because of its ever-growing plastic industry. India is anticipated to be next in line due to its steadily increasing paint and polymer markets. The U.S. is the biggest importer of acrolein biocides in countries such as Indonesia and Vietnam. Because of low labor and manufacturing costs, Indonesia could lead in Southeast Asia in the forecast period. Europe is expected to show a global decline in its mature market over the prediction period. Countries such as Brazil, Saudi Arabia, and Argentina, are anticipated to show potential growth in the acrolein market. In this area, demand for lacquers and the polymer industry has increased potentially in upcoming years.
Some of the major players in the acrolein market are Shanghai Huachen Energy Company, Ltd., Akzo Nobel N.V., Baker Hughes, Inc, Evonik Corporation, Arkema, The Shell Oil Company, and The Dow Chemicals Company, among others.