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Acrylic acid is an organic compound having characteristic tart or acrid smell. A large portion of acrylic acid is used as a feedstock for obtaining acrylate esters. Acrylate esters have a broad spectrum of application in paper treatment, plastic additives, textiles, sealants, adhesives, and surface coatings. Industries are developing and commercializing processes for producing acrylic acid from petrochemicals. Due to the rising price of oil globally, manufacturers are using bio-based techniques to produce acrylic acid and acrylates from renewable resources such as glycerol, sugar, etc.
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Renewable feedstock shows cost competitive outcomes as compared to petrochemical routes. The global acrylic acid market was valued at $11,006.6 million in 2013, and it is estimated to reach $18,824.0 million by 2020, growing at a CAGR of 7.6% during the forecast period (from 2014 to 2020). The global consumption of acrylic acid is anticipated to reach 8,169.0 kilo tons by 2020.
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