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Global Acetic Acid Market Insight January 19, 2022 Comments

The Acetic Acid is forecast to fast increase over the next four years. According to the WK-chem Research “Global Acetic Acid Professional Survey Report 2022, Forecast to 2027”, Acetic acid also known as ethanoic acid, it is a colorless liquid that acts as a major precursor for the production of various chemicals used in textile, rubber and plastic industries among others. It acts as an intermediary for the formulation of various coatings, sealants, and greases that are widely used in the construction, electronics, and the packaging industry. Acetic acid market is projected to show substantial growth during the forecast period. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 6.0% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint:

“The harm of acetic acid to humans and the environment will limit the development of its market. Manufacturers should control the packaging and dosage of the chemical in accordance with the above factors. The strong growth of the construction industry will promote the growth of market demand for this product.”Said Ulrica, Senior analyst, Chemical industry Market Research Center in WK-chem Research.

Market insight:

Acetic acid is used in the manufacturing of coatings, greases, polyesters and sealants which find applications in a number of industries such as electronics, automobiles, textiles, and packaging.Presently, polyethylene terephthalate (PET) bottles are gaining popularity in the medical and consumer goods sectors as they are lightweight and recyclable in nature. As PET bottles are manufactured by using purified terephthalic acid (PTA), produced from acetic acid, their mounting demand is catalyzing the growth of the market.A rise has been witnessed in the consumption of vinegar as it helps in reducing weight, maintaining blood pressure, and regulating blood sugar and cholesterol levels. As acetic acid is used in the manufacturing of vinegar, it is impelling the overall growth of the market.Manufacturers of acetic acid are increasingly adopting new technologies like BP’s Cativa and Celanese’s AO-plus (Acid Optimization Plus) which deliver significant savings in variable costs, as well as lower capital costs for the construction of new plants. Besides this, they also increase the capacity, enhance the production efficiency, reduce the energy consumption by approximately 30% and lower operating costs. The increasing adoption of these emerging technologies for producing the chemical and its derivatives is creating a positive outlook for the growth of the industry.

If used improperly, it may be a dangerous chemical. It is very corrosive to human skin and eyes and must be handled with care. It can also damage internal organs if ingested or inhaled. In addition, increasing consumer awareness of the hazardous effects of chemicals may hinder their adoption and thus hinder market development. In addition, VAM is a mature market that will show a gradual increase or decrease trend, and it is also the main application of acetic acid. The decrease in VAM consumption may affect the consumption of acetic acid, thus becoming a limiting factor.

Competition Landscape:

This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading Acetic Acid companies that include Eastman Chemical Company, British Petroleum, LyondellBasell, Celanese Corporation, Gujarat Narmada Valley Fertilizers & Chemicals, Helm AG, Pentoky Organy, Dow Chemicals, and Indian Oil Corporation.

Segmentation of Acetic Acid Market:

According to the type, the market is segmented into vinyl acetate monomer, purified terephthalic acid, ethyl acetate, acetic anhydride, and other derivatives. Purified Terephthalic Acid accounts for the major market share.Purified Terephthalic Acid is majorly utilized to formulate polyester coating resins used to produce automotive, appliances, coil coatings, general metal applications, and more. Eastman Corporation is one of the largest producers of PTA worldwide. It is also used for applications such as fiberglass reinforced plastics in unsaturated polyesters. Key attributes of PTA include good stain and chemical resistance, excellent weathering, the ideal temperature range for glass transition, and good flexibility balance among others. By end-user industry, the market is segmented into plastics and polymers, food and beverage, adhesives, paints and coatings, textile, medical, and other end-user industries. Textile accounts for the major market share.Over the short term, increasing demand for purified terephthalic acid (PTA) from the textile and packaging industry and growing use of ester solvents in the paints and coatings industry are driving the growth of the acetic acid market.Apart from this, the diluted form of acetic acid, produced by the fermentation and oxidation of natural carbohydrates, is widely used as a cleaning agent in households. Rising price of petroleum feedstock along with the presence of stringent regulations is likely to bring new business growth opportunities.

Acetic Acid Market: Regional Analysis

In terms of geography, the global Acetic Acid market has been segmented into: Asia-Pacific, North America, Europe, South America, and Middle-East and Africa. Asia-Pacific region accounted for the largest share of the Tartaric Acid Market. Asia-Pacific is the largest consumer of acetic acid in the global market. The Asia-Pacific market is anticipated to be the largest market for the textile industry, owing to the strong industrial base.China is a hub for chemical processing, accounting for most of the chemical production globally. With the growing global demand for various chemicals, the demand for intermediates, such as acetic acid, from this sector is expected to increase significantly during the forecast period.Asia Pacific has resulted in a greater demand for construction and textiles industries thereby substantially contributing to the growth of the market. Moreover, the rapidly growing pharmaceutical industry mainly in India and Japan among others is projected to generate substantial revenue during the forecast period. The product is widely used in the in manufacturing of disintegrant in the pharmaceutical industry, thereby growing demand for medicinal tablets shall aid in the growth of the overall market.

 

Cagr: 6.0%
Largest share area:Asia Pacific
Largest share country:China
Product Type:Vinyl Acetate Monomer, Purified Terephthalic Acid, Ethyl Acetate, Acetic Anhydride, Other Derivatives
Application:Plastics and Polymers, Food and Beverage, Adhesives, Paints and Coatings, Textile, Medical,Other End-user Industries
Leading Company:Eastman Chemical Company, British Petroleum, LyondellBasell, Celanese Corporation, Gujarat Narmada Valley Fertilizers & Chemicals