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Acrylic Acid Production from Propylene

Acrylic Acid Production from Propylene. Business Ideas & Opportunities in Petrochemicals Sector

 

Acrylic acid (2-propenoic acid) is a highly reactive carboxylic acid that can react with itself to form polyacrylic acid, which is used as an absorbent in hygiene products. It also can react with alcohols to form acrylates (esters) that are used in a wide range of polymers. However, polymers commonly called acrylic (Plexiglas, textiles, etc.) contain acrylate monomers but are often produced from chemicals other than acrylic acid.

Applications

·         Chemical compounding

·         Chemical intermediate

·         Detergent

·         Industrial water treatment

Uses

Acrylic acid is used in the manufacture of plastics, in latex applications, in floor polish, in polymer solutions for coatings applications, emulsion polymers, paint formulations, leather finishing’s, and paper coatings.  Acrylic acid is also used as a chemical intermediate.

One of the main applications is in the manufacture of superabsorbent polymers that can soak up large amounts of liquid and are used mainly in diapers and other hygiene products.

The primary use of acrylic acid is in the production of acrylic esters and resins, which are used primarily in coatings and adhesives. It is also used in oil treatment chemicals, detergent intermediates, water treatment chemicals, and water absorbent polyacrylic acid polymers. Acrylic acid is used widely for polymerization, including production of polyacrylates.

It is a monomer for polyacrylic and polymethacrylic acids and other acrylic polymers. It is used in the manufacture of plastics, as a tackifier, as a flocculant, in the production of water-soluble resins and salts, as a comonomer in acrylic emulsion and solution polymers and in molding powder for signs, construction units, decorative emblems and insignias. It is used in polymer solutions for coatings applications, in paint formulations, in leather finishings, in paper coatings, in polishes and adhesives and in general finishes and binders.

 

Market Outlook

Acrylic Acid Market size was valued at $12,584.1 million in 2015, and is expected to reach $19,509.4 million by 2022, supported by a CAGR of 6.6% during the forecast period 2016 to 2022.

Acrylic Acid is a derivative of Esters and Acrylates They have a wide range of application in paper treatment, plastic additives, textiles, sealants, adhesives, and surface coatings. The prices of oil has been rising due to this manufacturers are using bio-based techniques to produce this unsaturated carboxylic acid and acrylates from renewable resources such as glycerol, sugar, etc.

Growing demand in emerging markets, increasing demand from end user industries and rising demand for high strength materials are factors fuelling the market growth. However, volatile prices of the raw materials and stringent government regulations are hindering the market growth. Moreover, demand for Polymethyl methacrylate (PMMA) resins in different industries provides ample opportunities for market growth.

Based on end user, personal care segment is projected to grow at a steady rate due to increasing demand for super absorbent polymers. Personal care products such as diapers and adult incontinence products are increasingly using super absorbent polymers.

Global supplies of acrylic acid are likely to remain strong over the next couple of years with emerging markets posting higher demand. Acrylic acid remains a sought-after industrial material, owing to its wide-ranging properties.  Acrylic acid is a specialty chemical and finds widespread application in several large-scale industrial verticals. Construction, polymer and adhesive are some of its major end-use industries, which are exhibiting healthy growth. The aforementioned factors are expected play a key role in governing the growth trends of the global acrylic acid market in the forthcoming years.

Industries are developing and commercializing processes for producing it from petrochemicals. Due to the rising price of oil globally, manufacturers are using bio-based techniques to produce this unsaturated carboxylic acid and acrylates from renewable resources such as glycerol, sugar, etc. Renewable feedstock shows cost competitive outcomes as compared to petrochemical routes. Applications in Detergents, Adult Incontinence and Personal Care Products have contributed to the increased demand for acrylic acid.

Major end users are diapers, surface coating, adhesives and sealants, plastic additive, water treatment, textiles and surfactants. Currently, the compound is majorly consumed in manufacturing diapers; this segment would dominate the sector through 2022. Acrylic based surfactants are used as binders that enhance the flexibility, gloss and durability of the coatings. Moreover, it increases the shelf life of paints; improve the stability of freeze-thaw and mechanical stability. These factors are driving the demand for the compound in surfactants industry.

The acrylates are widely used in detergents, flocculants, thickeners and dispersants. The acrylate esters were the largest derivative that was consumed globally. They provide several desirable properties to the polymers such as color stability, resistance to heat, clarity and weather-ability, thus being used widely in the coating and adhesives industry. The personal care products such as adult incontinence and diapers are majorly using the super absorbent polymers. Hence, there is an increase in demand for the super absorbent polymers, which is positively contributing to the market growth. The acrylic acid-based products are used in the textile industry where they are used as fillers in the padded jackets.

By geography, Asia Pacific is anticipated held largest market share due to rising derivatives consumption in surfactants, coatings, personal care products and adhesives. In addition, North America is expected to have considerable market share owing to increasing demand in end user industries and growing geriatric population in the U.S. and Canada.

Some of the major industries operating in the acrylic acid market include BASF SE, Nippon Shokubai Co. Ltd., LG Chem Ltd., Mitsubishi Chemical Holdings Corporation, Sasol Limited, Arkema, Evonik Industries, The Dow Chemical Company, Hexion Inc., and PJSC Sibur Holding.

Indian Acrylic Acid Market: Demand-Supply Gap

Demand for acrylic acid is estimated to reach 260 Kilo Ton Per Annum (KTPA) by 2020. Indian acrylic acid market has a huge supply demand gap of 200 KTPA. At present, the market is entirely import dependent due to absence of local manufacturers. As a result, there is a huge potential for local manufacturers to set up manufacturing facilities within the country in order to meet the growing demand.

Indian acrylic acid market is estimated to reach INR16.9 billion in 2020 from INR7.8 billion in 2012, growing at a Compounded Annual Growth Rate (CAGR) of 10.1%.

Indian Source of Raw Material

Propylene is the primary feedstock required for manufacturing acrylic acid.

·         Reliance

·         Indian Oil Corporation Ltd (IOCL)

·         HPCL-Mittal Energy Limited (HMEL)

·         Haldia Petrochem

·         Bharat Petroleum Corporation Ltd (BPCL)

·         Mangalore Refinery and Petrochem

·         GAIL

·         Hindustan Petroleum Corporation Ltd (HPCL)

 

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Ø  Introduction

·         Project Introduction

·         Project Objective and Strategy

·         Concise History of the Product

·         Properties

·         BIS (Bureau of Indian Standards) Provision & Specification

·         Uses & Applications

 

Ø  Market Study and Assessment

·         Current Indian Market Scenario

·         Present Market Demand and Supply

·         Estimated Future Market Demand and Forecast

·         Statistics of Import & Export

·         Names & Addresses of Existing Units (Present Players)

·         Market Opportunity

 

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·         List of Suppliers and Manufacturers

 

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Ø  Plant and Machinery

·         List of Plant & Machinery

·         Miscellaneous Items

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·         Laboratory Equipments & Accessories

·         Electrification

·         Electric Load & Water

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Ø  Infrastructure and Utilities

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Project at a Glance

Along with financial details as under:

 

  •     Assumptions for Profitability workings

  •    Plant Economics

  •    Production Schedule

  •    Land & Building

            Factory Land & Building

            Site Development Expenses

  •    Plant & Machinery

             Indigenous Machineries

            Other Machineries (Miscellaneous, Laboratory etc.)

  •    Other Fixed Assets

            Furniture & Fixtures

            Pre-operative and Preliminary Expenses

            Technical Knowhow

            Provision of Contingencies

  •   Working Capital Requirement Per Month

             Raw Material

            Packing Material

            Lab & ETP Chemical Cost

           Consumable Store

  •   Overheads Required Per Month And Per Annum

         Utilities & Overheads (Power, Water and Fuel Expenses etc.)

             Royalty and Other Charges

            Selling and Distribution Expenses

  •    Salary and Wages

  •    Turnover Per Annum

  •   Share Capital

            Equity Capital

            Preference Share Capital

 

  •    Annexure 1:: Cost of Project and Means of Finance

  •    Annexure 2::  Profitability and Net Cash Accruals

                Revenue/Income/Realisation

                Expenses/Cost of Products/Services/Items

                Gross Profit

                Financial Charges     

                Total Cost of Sales

                Net Profit After Taxes

                Net Cash Accruals

  •   Annexure 3 :: Assessment of Working Capital requirements

                Current Assets

                Gross Working. Capital

                Current Liabilities

                Net Working Capital

                Working Note for Calculation of Work-in-process

  •    Annexure 4 :: Sources and Disposition of Funds

  •    Annexure 5 :: Projected Balance Sheets

                ROI (Average of Fixed Assets)

                RONW (Average of Share Capital)

                ROI (Average of Total Assets)

  •    Annexure 6 :: Profitability ratios

                D.S.C.R

                Earnings Per Share (EPS)

               

             Debt Equity Ratio

   •     Annexure 7   :: Break-Even Analysis

                Variable Cost & Expenses

                Semi-Var./Semi-Fixed Exp.

                Profit Volume Ratio (PVR)

                Fixed Expenses / Cost 

                B.E.P

  •   Annexure 8 to 11:: Sensitivity Analysis-Price/Volume

            Resultant N.P.B.T

            Resultant D.S.C.R

   Resultant PV Ratio

   Resultant DER

  Resultant ROI

          Resultant BEP

  •    Annexure 12 :: Shareholding Pattern and Stake Status

        Equity Capital

        Preference Share Capital

  •   Annexure 13 :: Quantitative Details-Output/Sales/Stocks

        Determined Capacity P.A of Products/Services

        Achievable Efficiency/Yield % of Products/Services/Items 

        Net Usable Load/Capacity of Products/Services/Items   

       Expected Sales/ Revenue/ Income of Products/ Services/ Items   

  •    Annexure 14 :: Product wise domestic Sales Realisation

  •    Annexure 15 :: Total Raw Material Cost

  •    Annexure 16 :: Raw Material Cost per unit

  •    Annexure 17 :: Total Lab & ETP Chemical Cost

  •    Annexure 18  :: Consumables, Store etc.,

  •    Annexure 19  :: Packing Material Cost

  •    Annexure 20  :: Packing Material Cost Per Unit

  •    Annexure 21 :: Employees Expenses

  •    Annexure 22 :: Fuel Expenses

  •    Annexure 23 :: Power/Electricity Expenses

  •    Annexure 24 :: Royalty & Other Charges

  •    Annexure 25 :: Repairs & Maintenance Exp.

  •    Annexure 26 :: Other Mfg. Expenses

  •    Annexure 27 :: Administration Expenses

  •    Annexure 28 :: Selling Expenses

  •    Annexure 29 :: Depreciation Charges – as per Books (Total)

  •   Annexure 30   :: Depreciation Charges – as per Books (P & M)

  •   Annexure 31   :: Depreciation Charges - As per IT Act WDV (Total)

  •   Annexure 32   :: Depreciation Charges - As per IT Act WDV (P & M)

  •   Annexure 33   :: Interest and Repayment - Term Loans

  •   Annexure 34   :: Tax on Profits

  •   Annexure 35   ::Projected Pay-Back Period And IRR