What is Global Acrolein Market?
The Global Acrolein Market is a vast and complex entity that encompasses a wide range of industries and applications. Acrolein, a compound with the formula CH2=CHCHO, is a colorless or yellow liquid with a piercing, disagreeable odor. It is produced industrially from propylene and mainly used as a biocide and a building block to other chemical compounds, such as the amino acid methionine. The market for this compound is global in nature, with its reach extending to various corners of the world. The market's value was pegged at US$ 1550.7 million in 2022, and it is projected to reach US$ 1687.4 million by 2029. This indicates a steady growth, with a Compound Annual Growth Rate (CAGR) of 1.2% during the forecast period from 2023 to 2029.
Propylene Oxidation Method, Glycerol Dehydration Method in the Global Acrolein Market:
The Global Acrolein Market is primarily divided into two production methods: Propylene Oxidation Method and Glycerol Dehydration Method. The Propylene Oxidation Method involves the oxidation of propylene to produce acrolein. This method is widely used due to its cost-effectiveness and high yield. On the other hand, the Glycerol Dehydration Method involves the dehydration of glycerol to produce acrolein. This method is gaining popularity due to its environmental friendliness and the abundant availability of glycerol, a by-product of biodiesel production. Both these methods have their own advantages and disadvantages, and the choice of method depends on various factors such as cost, availability of raw materials, and environmental impact.
Methionine, Pesticide, Glutaraldehyde, Water Treatment Agent, Others in the Global Acrolein Market:
The Global Acrolein Market finds its applications in various areas such as Methionine, Pesticide, Glutaraldehyde, Water Treatment Agent, and others. Methionine is an essential amino acid that is used in the biosynthesis of proteins. Acrolein is used as a raw material in the production of Methionine. In the field of pesticides, Acrolein is used as a biocide and a soil fumigant. It is also used in the production of Glutaraldehyde, a disinfectant and medication. As a water treatment agent, Acrolein is used to control the growth of algae and other aquatic weeds. Other applications of Acrolein include the production of other chemical compounds and use in research and development activities.
Global Acrolein Market Outlook:
The outlook for the Global Acrolein Market is positive, with steady growth anticipated in the coming years. As of 2022, the market was valued at US$ 1550.7 million and is expected to reach US$ 1687.4 million by 2029. This represents a CAGR of 1.2% during the forecast period from 2023 to 2029. The market is dominated by Evonik, a global leader in specialty chemicals, which holds a 24% production market share. Geographically, Europe leads the global Acrolein production, accounting for about 37% of the total. The USA follows closely behind with a 30% share of global production.
| Report Metric | Details |
| Report Name | Acrolein Market |
| Accounted market size in 2023 | US$ 1550.7 million |
| Forecasted market size in 2030 | US$ 1687.4 million |
| CAGR | 1.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Evonik, Adisseo, Arkema, Dow, Daicel, Hubei Shengling Technology, Wuhan Ruiji Chemical, Hubei Jinghong Chemical, Zibo Xinglu Chemical, Puyang Shenghuade Chemical, Wuhan Youji, Hubei Xinjing New Material |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
