As of June 2025, the average annual price of Brent crude oil stood at 71.91 U.S. dollars per barrel. This is over eight U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

Brent rose to 66.87 USD/Bbl on August 12, 2025, up 0.37% from the previous day. Over the past month, Brent's price has fallen 3.37%, and is down 17.12% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on August of 2025.

On August 4, 2025, the Brent crude oil price stood at 68.59 U.S. dollars per barrel, compared to 66.29 U.S. dollars for WTI oil and 71.58 U.S. dollars for the OPEC basket. OPEC prices rose slightly that week, while Brent and WTI prices fell.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

In June 2025, the average price of one barrel of Brent crude oil was 71.44 U.S. dollars. This was around seven U.S. dollars more than prices the previous month, which were the lowest value in the past 24-month period. Brent terminology and most common uses Brent is the world's leading price benchmark for Atlantic basin crude oils. It is used to price two thirds of the internationally traded crude oil supplies and is also the most significant crude oil benchmark for Europe. Brent crude originates in the North Sea and includes oils from Brent and Forties Oil Field in the United Kingdom, and from the Oseborg and Ekofisk oil fields, both oil reserves in Norway. Other names for Brent are Brent Blend, London Brent and Brent petroleum. The name Brent comes from the Brent oil field, located north-east of the Shetland Islands, and thus part of the United Kingdom. Because the Brent oil field already passed its production peak, today the benchmark Brent includes oil from the other three major oil fields. Brent, next to West Texas Intermediate (WTI), is one of the lightest crude oils. With a low content of sulfur, it is ranged among the so-called sweet crude oils. Most of the Brent crude oil is refined into gasoline and middle distillates in Northwest Europe. Benchmark oil prices Other crucial benchmarks for crude oil prices are the already mentioned U.S.- WTI and Dubai Crude (Fateh). They are indispensable for referencing the many types and grades of oil on the global market. In the past 20 years, the annual price for one barrel of Brent crude oil saw a net increase. For example, the average price per barrel stood at 80.53 U.S. dollars in 2024.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of June. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

Urals Oil fell to 62.56 USD/Bbl on August 8, 2025, down 0.97% from the previous day. Over the past month, Urals Oil's price has fallen 6.93%, and is down 16.53% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for Urals Crude.

Switzerland Brent Crude Oil Price data was reported at 75.710 USD/Barrel in Oct 2018. This records a decrease from the previous number of 82.790 USD/Barrel for Sep 2018. Switzerland Brent Crude Oil Price data is updated monthly, averaging 25.785 USD/Barrel from Jan 1970 (Median) to Oct 2018, with 586 observations. The data reached an all-time high of 139.390 USD/Barrel in Jun 2008 and a record low of 2.230 USD/Barrel in Dec 1970. Switzerland Brent Crude Oil Price data remains active status in CEIC and is reported by Swiss National Bank. The data is categorized under Global Database’s Switzerland – Table CH.P002: Fuel Prices.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 68.23 U.S. dollars per barrel as of June. This would be eight U.S. dollars below the 2024 average and the lowest annual average since 2021. WTI and other benchmarks WTI is a grade of crude oil also known as “Texas light sweet.” It is measured to have an API gravity of around 39.6 and specific gravity of about 0.83, which is considered “light” relative to other crude oils. This oil also contains roughly 0.24 percent sulfur, and is therefore named “sweet.” Crude oils are some of the most closely observed commodity prices in the world. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. The price of other crude oils, such as UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil, can be compared to that of WTI crude oil. Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollars per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008. Geopolitical conflicts and their impact on oil prices The price of oil is controlled in part by limiting oil production. Prior to 1971, the Texas Railroad Commission controlled the price of oil by setting limits on production of U.S. oil. In 1971, the Texas Railroad Commission ceased limiting production, but OPEC, the Organization of Petroleum Exporting Countries with member states Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela among others, continued to do so. In 1972, due to geopolitical conflict, OPEC set an oil embargo and cut oil production, causing prices to quadruple by 1974. Oil prices rose again in 1979 and 1980 due to the Iranian revolution, and doubled between 1978 and 1981 as the Iran-Iraq War prevented oil production. A number of geopolitical conflicts and periods of increased production and consumption have influenced the price of oil since then.

South Africa Brent Crude Oil Price: US Dollar data was reported at 72.820 USD in Aug 2018. This records a decrease from the previous number of 74.240 USD for Jul 2018. South Africa Brent Crude Oil Price: US Dollar data is updated monthly, averaging 19.340 USD from Jan 1960 (Median) to Aug 2018, with 704 observations. The data reached an all-time high of 133.860 USD in Jul 2008 and a record low of 2.140 USD in Aug 1966. South Africa Brent Crude Oil Price: US Dollar data remains active status in CEIC and is reported by South African Reserve Bank. The data is categorized under Global Database’s South Africa – Table ZA.P005: Brent Crude Oil Price.

Naphtha fell to 554.44 USD/T on August 11, 2025, down 0.25% from the previous day. Over the past month, Naphtha's price has risen 0.43%, but it is still 17.58% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Naphtha - values, historical data, forecasts and news - updated on August of 2025.

United Kingdom BOE Forecast: Brent Crude Oil Price data was reported at 71.000 USD/Barrel in 2021. This records a decrease from the previous number of 74.000 USD/Barrel for 2020. United Kingdom BOE Forecast: Brent Crude Oil Price data is updated yearly, averaging 72.500 USD/Barrel from Dec 2014 (Median) to 2021, with 8 observations. The data reached an all-time high of 81.000 USD/Barrel in 2018 and a record low of 43.000 USD/Barrel in 2015. United Kingdom BOE Forecast: Brent Crude Oil Price data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.P009: Crude Oil and Gas Prices: Forecast.

In June 2025, the price for one barrel of West Texas Intermediate (WTI) crude oil averaged 68.17 U.S. dollars. This was an increase compared to the previous month which had seen the lowest figure in the past 24-month period. WTI and other benchmark crudes WTI is also known as "Texas light sweet", and is a grade of crude oil used as a benchmark for oil produced in the United States. It has an API gravity of around 39.6 and specific gravity of about 0.827, which, relative to other crude oils, is considered “light,” hence the name. WTI also contains about 0.24 percent sulfur, making it a “sweet” crude oil. The price of WTI can be compared to the prices other of crude oils, i.e. UK Brent, the OPEC basket, and Dubai Fateh oil. WTI crude oil is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. U.S. oil production and its influence on light oil prices The price development of WTI crude oil relative to Brent crude oil has been influenced by variances in U.S. crude oil transportation and increased U.S. oil production. New transportation infrastructure became operational in early 2013, easing the movement of crude oil in the mid-continent and raising the price of WTI. Since then, U.S. refineries have increased production of crude oil to record levels, also raising the price of WTI. Meanwhile, expedited crude transport in the U.S. put downward pressure on Brent crude oil as domestic crude replaced some imported Brent crude. Between 2014 and 2016, UK Brent prices dropped rapidly, as was the case for all other crude oils.

In May 2025, the average monthly price of the Urals crude oil, Russia's major export oil brand, was approximately ***** U.S. dollars per barrel, having decreased from the previous month. In 2020, the price of the Urals experienced a considerable decrease at the beginning of the year due to the coronavirus (COVID-19) pandemic, dropping to as low as **** U.S. dollars per barrel in April. What is the purpose of the Russian oil price cap? In early December 2022, the G7 (Canada, France, Germany, Italy, Japan, United Kingdom (UK), and the United States), the European Union (EU), and Australia formed the Price Cap Coalition and imposed a price cap of 60 U.S. dollars per barrel on oil originating in Russia. The aim of the price ceiling is to decrease Russia’s earnings from oil exports and thereby limit the Russian government’s budget to finance the war in Ukraine. At the same time, the cap is meant to ensure that Russia continues to supply oil to emerging economies, though at a discounted price. With the cap in place, Russia cannot sell oil at a higher price even to third countries if the oil tankers are financed or insured by members of the Price Cap Coalition. In early February 2023, a price cap of 100 U.S. dollars per barrel was imposed on Russian refined oil products. Global dependence on Russian oil China was Russia’s leading crude oil export destination, with the value of exports measured at nearly **** billion U.S. dollars in 2021. In physical terms, Russia supplied around *** million metric tons of crude oil to China in 2024, being the leading crude oil import origin in the country ahead of Saudi Arabia. Furthermore, European countries were major consumers of Russian oil prior to the war in Ukraine. For instance, Russia accounted for over ** percent of oil and petroleum products imported into Slovakia in 2020. To compare, the dependence rate stood at nearly ** percent in Lithuania, ** percent in Germany, and ** percent in the UK.

TTF Gas rose to 33.10 EUR/MWh on August 11, 2025, up 2.01% from the previous day. Over the past month, TTF Gas's price has fallen 6.64%, and is down 16.87% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on August of 2025.

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The bio-based platform chemicals market share is expected to increase by USD 2.12 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 10.78%.

This bio-based platform chemicals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bio-based platform chemicals market segmentation by chemical type (bio-1 4 diacids, bio-glycerol, bio-glutamic acid, bio-3-HPA, and bio-itaconic acid) and geography (APAC, Europe, North America, MEA, and South America). The bio-based platform chemicals market report also offers information on several market vendors, including BASF SE, Braskem SA, DuPont Tate & Lyle Bio Products Company LLC, Evonik Industries AG, IP Group Plc, Koninklijke DSM NV, LyondellBasell Industries NV, Merck KGaA, Parchem fine & specialty chemicals Inc., and PTT Global Chemical Public Co. Ltd. among others.

What will the Bio-based Platform Chemicals Market Size be During the Forecast Period?

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Bio-based Platform Chemicals Market: Key Drivers, Trends, and Challenges

The volatility in crude oil prices is notably driving the bio-based platform chemicals market growth, although factors such as high production cost may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bio-based platform chemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Bio-based Platform Chemicals Market Driver

Volatility in crude oil prices is one of the major drivers of the bio-based platform chemicals market growth. The use of crude oil as a carbon feedstock for producing chemicals has dominated the industry. The oil and gas industry is one of the major suppliers of raw materials to the global platform chemicals market. The fluctuations in the crude oil prices affect the prices of the raw materials considerably, thereby affecting the costs of platform chemicals. The price of Brent crude oil per barrel decreased in the subsequent years, by nearly 60% in 2016 compared to 2012. In 2018, the price of Brent crude oil increased by almost 62% compared to 2016, but the price again decreased by 40% in 2020. The volatile prices of raw materials will directly affect the revenue and profit margins of the manufacturers. Vendors are compelled to seek alternative solutions to maintain their profit margins, thereby reducing the use of petroleum-derived feedstock chemicals. In addition, the continuous supply of raw materials could be negatively affected by adverse weather conditions, national emergencies, natural disasters, supply shortages, and other events. The price fluctuations and non-availability of raw materials can affect the cost of the products and operations of the vendors. Bio-based platform chemicals have emerged as an alternative to petroleum-based chemicals owing to the comparatively stable costs.

Key Bio-based Platform Chemicals Market Trend

An increase in R&D activities is one of the major trends in the bio-based platform chemicals market growth. Growing R&D expenditure is a major trend that is being witnessed in the global bio-based platform chemicals market in recent years. There has been a significant increase in R&D activities to increase the application areas of bio-based platform chemicals in various industries, such as biofuels and resins, by many major vendors in recent years. Globally, major bio-based platform chemicals players have increased their R&D spending to reduce the manufacturing cost of bio-based platform chemicals. Furthermore, the manufacturers have been heavily emphasizing new product innovations and developments to maintain a competitive edge and gain shares in the market. In 2016, an International Bioeconomy Forum (IBF) aimed at improving the orientation of research in Europe and fostering multilateral cooperation was formed. This forum helps in providing an informal multilateral network for countries that are engaged in the development of a bio-based economy.

Key Bio-based Platform Chemicals Market Challenge

High production cost is one of the major challenges to the bio-based platform chemicals market growth. The US has set a goal to produce 21 billion gallons of advanced biofuels by 2022. To achieve the target, the gap between research and commercial, large-scale production of advanced biofuels must be bridged. Building a bio-refinery plant costs more than $100 million, and it takes 3-4 years to complete the construction. Achieving the national energy and climate goals will require a large, economical

The global demand for crude oil (including biofuels) in 2024 amounted to 103.75 million barrels per day. The source expects economic activity and related oil demand to pick up by the end of the year, with forecast suggesting it could increase to more than 105 million barrels per day. Motor fuels make up majority of oil demand Oil is an important and versatile substance, used in different ways and in different forms for many applications. The road sector is the largest oil consuming sector worldwide. It accounts for nearly one half of the global demand for oil, largely due to reliance on motor spirits made from petroleum. The OPEC projects global oil product demand to reach 120 million barrels per day by 2050, with transportation fuels such as gasoline and diesel expected to remain the most consumed products. Diesel and gasoil demand is forecast to amount to 32.5 million barrels per day in 2050, up from 29 million barrels in 2023. Gasoline demand is forecast at 27 million barrels by 2050. Differences in forecast oil demand widen between major energy institutions Despite oil producing bodies such as the OPEC seeing continued importance for crude oil in the future, other forecast centers have been more moderate in their demand outlooks. For example, between the EIA, IEA, and OPEC, the latter was the only one to expect significant growth for oil demand until 2030.

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Oilfield Chemicals Market Size 2024-2028

The oilfield chemicals market size is forecast to increase by USD 6.75 billion at a CAGR of 4.37% between 2023 and 2028.

The market's growth rate hinges on various factors, such as the increased production of crude oil, advancements in oilfield technology, and the expansion of shale gas exploration and production. These elements collectively contribute to the market's trajectory, driving its upward momentum. With the continuous improvement and adoption of innovative technologies in the oilfield sector, coupled with the heightened focus on shale gas extraction, the market is poised for significant expansion in the foreseeable future. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.

What will the Oilfield Chemicals Market Size During the Forecast Period?

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How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Application

  Production
  Well stimulation
  Drilling fluids
  Enhanced oil recovery
  Others


Type

  Onshore
  Offshore


Geography

  North America

    Canada
    US


  Europe



  APAC

    China
    India


  Middle East and Africa



  South America

By Application Insights

The production segment is estimated to witness significant growth during the forecast period.

In the realm of oil exploration and production activities, oilfield chemicals play a pivotal role in ensuring efficiency and safety during drilling and well-stimulation processes. The shale gas revolution has significantly increased the demand for oilfield chemicals, particularly in crude oil production from onshore fields in developing economies. These chemicals are instrumental in optimizing operations, adhering to environmental standards, and enhancing reservoir recovery. Oilfield chemicals are applied extensively in various production processes, including drilling fluids for deep drilling activities, fracturing liquids for well stimulation, and inhibitors for preventing corrosion and the formation of emulsions on metal surfaces. Product analysis reveals that the Rheology modifiers segment dominates the market, with synthetic-based drilling fluids and micro-fibrillated cellulose (MFC) and xanthan gum being commonly used.

The inhibitors segment is also gaining traction due to its ability to mitigate impurities derived from crude oil production. Water-soluble inhibitors, such as amides and long-chain amines, are popular choices for preventing corrosion and scaling in onshore exploration activities. As the industry dynamics evolve, oilfield chemicals continue to play a crucial role in enhancing oilfield exploration endeavors while addressing the challenges of drilling in diverse geological conditions. Moreover, the shift towards renewable energy sources like solar power and wind power has led to a decline in demand for oilfield chemicals in certain applications. However, the ongoing demand for oil and gas, coupled with the need for optimization and safety in production processes, ensures that the market remains a significant player in the energy sector.

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The Production segment was valued at USD 9.97 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 38% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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In the Oil & gas industry, the application analysis of oilfield chemicals in North America experienced substantial growth in 2023, driven by the recovery of West Texas Intermediate and Brent crude prices and the significant expansion of shale oil and gas production. The level of exploration and production activities in the US and Canada significantly impacted the demand for oilfield chemicals, including solid-free fluids, fracture stimulation agents, water shut-off compounds, gravel packing additives, and acid stimulation catalysts. These chemicals are essential for post-oil extraction processes, ensuring efficient drilling and production. Advancements in technology, such as automation and IoT, have encouraged oil rig operators to adopt innovative drilling solutions, including the use of O2 for onshore and offshore projects.

The susceptibility of oil and gas infrastructure to corrosion necessitates the employm

The average price of Indian basket crude oil was estimated to reach ***** U.S. dollars per barrel in the financial year 2024. While Indian basket crude oil prices have fluctuated during the reported period, this figure significantly decreased from the previous year’s average of ***** U.S. dollars. The average price of crude oil went up marginally around the financial year 2012, touching almost *** U.S. dollars per barrel. Recent trends in the Indian oil industry The last several years have seen a slight but steady increase in Indian crude oil refinery capacity. However, the annual domestic crude oil production volume has consistently decreased. Not surprisingly, the volume of crude oil imports had recently been on the rise for several years. The future of the Indian energy sector As the third-largest primary energy consumer globally, India relies on various sources to meet its energy demands. At the same time, a significant increase in primary energy consumption across various sources is projected for the coming decades, with renewables playing a vital role in the Indian energy transition.

In 2024, Dubai Fateh had an average price of 79.61 U.S. dollars per barrel, down from the 82.09 U.S. dollars per barrel compared to the previous year. Dubai Crude (Fateh) oil price Dubai Crude (Fateh) is the most important crude oil benchmark for Asia. Dubai Crude originated in Dubai in the Persian Gulf. Another name for this crude oil is Fateh. The name Fateh comes from an offshore oil field, located some 60 miles from Dubai, and is, therefore, part of the United Arab Emirates. One of the advantages of Dubai Crude compared to other Persian Gulf crude oils, and a main reason why it is used as an oil marker, is its instant availability. Dubai Crude, behind West Texas Intermediate (WTI) and UK Brent, is one of the lighter crude oils. On the other hand, Dubai Crude contains some two percent of sulphur, and thus is part of the so-called sour crude oils. In comparison, UK Brent contains 0.37 percent of sulphur, which means it is a so-called sweet crude oil. The refining of sour and heavier oils is always more expensive than it is for sweeter and lighter oils. Dubai Crude, the same as OPEC oils, is mostly refined and traded in the Asian region. The other two crucial oil benchmarks are West Texas Intermediate (WTI), which is especially important for North America, and UK Brent (Brent Crude), which dominates the European oil market. Such benchmarks are essential for referencing the many types and grades of oil on the worldwide market.With the exception of the years 2009 and 2010, there was a stable increase in the price for one barrel of Dubai-Fateh crude oil in the last ten years, until 2015, when the price dropped by half. The mean price per barrel stood at approximately 24 U.S. dollars in 2002. By 2012, this price had increased to more than 109 U.S. dollars, but dropped to 51.20 U.S. dollars per barrel 2015.

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Acrylic Acid Market Size 2024-2028

The acrylic acid market size is forecast to increase by USD 3.13 billion at a CAGR of 4.5% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increased demand for acrylic acid derivatives in surface coating applications. This trend is expected to continue as the demand for high-performance coatings continues to rise in various industries, including automotive, construction, and consumer goods. Another key driver for the market is the increasing preference for bio-based acrylic acid derivatives, which offer sustainability advantages and align with the global shift towards eco-friendly products. However, the market faces challenges, most notably the price fluctuation of Brent crude oil. Acrylic acid is derived from crude oil, making its price sensitive to changes in the oil market. Price volatility can significantly impact the production costs of acrylic acid and its derivatives, potentially affecting the profitability of manufacturers and the affordability of end-users. Companies in the market must closely monitor oil prices and explore alternative feedstocks or production methods to mitigate this risk and maintain competitiveness.

What will be the Size of the Acrylic Acid Market during the forecast period?

Request Free SampleThe market continues to evolve, driven by the diverse applications of acrylic derivatives across various sectors. Acrylic resins, derived from acrylic acid through processes such as suspension polymerization and emulsion polymerization, find extensive use in water-based coatings, adhesives, and sealants. In the personal care industry, acrylic emulsions are utilized in the production of cosmetics and skincare products. Acrylic fibers, a key application of acrylic polymers, exhibit robust demand due to their versatility and durability. The ongoing shift towards green chemistry and sustainable production in the acrylic acid industry is driving the development of bio-based acrylic acid and acrylic derivatives from renewable sources. Acrylic acid and its derivatives are also integral to the production of superabsorbent polymers, which find extensive use in water treatment and the agricultural industry. Acrylic esters, another derivative, are employed in the synthesis of solvent-based coatings and in the production of synthetic rubber. The market is characterized by continuous innovation, with ongoing research and development efforts focused on improving the efficiency and sustainability of production processes. Acrylic polymers, including acrylic latexes and polyacrylic acid, are increasingly being used in the production of biodegradable polymers and sustainable materials. Acrylic paints, a popular application of acrylic polymers, offer excellent color retention and durability. The paper industry utilizes acrylic polymers in the production of coated papers, while the demand for acrylic coatings remains strong in the construction industry. In summary, the market is a dynamic and evolving landscape, with ongoing research and development efforts driving innovation and growth across various applications. Acrylic derivatives continue to find extensive use in a wide range of industries, from coatings and adhesives to personal care and agriculture. The market is characterized by a focus on sustainability and efficiency, with ongoing efforts to develop bio-based and renewable sources of acrylic acid and its derivatives.

How is this Acrylic Acid Industry segmented?

The acrylic acid industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ApplicationAcrylic estersSuperabsorbent polymersSynthetic detergentsOthersDerivative TypeAcrylic Esters (Methyl Acrylate, Ethyl Acrylate, Butyl Acrylate, 2-Ethylhexyl Acrylate)Superabsorbent Polymers (SAP)Other DerivativesGeographyNorth AmericaUSCanadaEuropeFranceGermanyItalyUKMiddle East and AfricaEgyptKSAOmanUAEAPACChinaIndiaJapanSouth AmericaArgentinaBrazilRest of World (ROW)

By Application Insights

The acrylic esters segment is estimated to witness significant growth during the forecast period.In the dynamic the market, acrylic esters hold the largest share due to their extensive applications in various industries. Acrylic esters are formed through the esterification process, which combines an alcohol, such as methyl or ethyl, with acrylic acid. Notable acrylic ester types include methyl acrylate, ethyl acrylate, butyl acrylate, and ethyl hexyl acrylate. Acrylic acid is a crucial raw material in the production of these esters. Acrylic esters are versatile derivatives of acrylic acid, widely used in the manufacturing of paints, adhesives, acrylic rubbers, and acrylic fibers. Additionally, they are employed in the production of dyes, text