The Lithuanian market for acrylic acid and its salts has shown significant fluctuations over the past decade. From 2013, the market witnessed a slight decrease, followed by a recovery post-2016. Significant growth occurred in 2017 and 2018, with a slight dip in 2019. The year 2023 saw the market size reach 556.63 thousand euros, marking a 3.72% increase over 2022. The compound annual growth rate over the past five years demonstrates a modest annual average growth of 1.64%.
Looking ahead, future trends may include:
- A continual focus on sustainable and environmentally friendly applications of acrylic acid and its salts.
- Potential impacts from technological innovations and regulatory changes in chemical production
- Economic factors influencing the supply chain and demand in larger markets could reflect on Lithuania's industry.