Global Acetic Acid Market: Analysis and Forecast 2022-2027
Acetic Acid Industry Report by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices
The global Acetic Acid market reached a value of about USD 8.59 Billion in 2021. The industry is projected to grow at a CAGR of around 5.5% in the forecast period of 2022-2027 to reach a value of about USD 11.85 billion by 2027.
Because VAM is also used to manufacture polymers for coatings and adhesives, acetic acid consumption will climb. Polymerization of VAM results in polyvinyl acetate or other polymers, which are used in the paint business.
A significant amount of vinyl acetate monomer is used in paint and coating formulations. Asia is the region with the greatest category spender, creating demand for the acetic acid business. Asia is the highest category spender by region that is driving the demand for the acetic acid industry.
Acetic Acid: Industry Definition and Segmentation
Acetic acid, or ethanoic acid, is a colorless acidic liquid and chemical substance. Apart from water and other minor ingredients, vinegar contains at least 4% acetic acid by volume, making acetic acid the essential component. Acetic acid is the second most basic carboxylic acid (after formic acid).
Metal acetates are made by using acetic acid, which is used in some printing processes; vinyl acetate, which is used to make plastics; cellulose acetate, which is used to generate photographic films and textiles; and volatile organic esters (such as ethyl and butyl acetates), which are commonly used as solvents for resins, paints, and lacquers. Acetic acid is a biologically significant metabolic intermediary that may be found in bodily fluids and plant juices.
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The Acetic Acid industry report comprises segments:
- By application: VAN, Acetate Esters, PTA, and Acetic Anhydride
- By region: North America, Europe, Asia Pacific, the Middle East, Africa, and South America
Snapshot of the Report
The regional markets for the industry can be divided into North America, Europe, Asia Pacific, the Middle East, Africa, and South America.
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The industry is primarily fueled by the increasing demand for Vinyl Acetate Monomer (VAM). Polymerization of VAM produces polyvinyl acetate or other polymers, which are important components in the paint industry. Paint and coating compositions use a significant proportion of vinyl acetate monomer.
The demand for purified terephthalic acid (PTA) from the textile and packaging sectors, as well as high ester solvents in the paints and coatings sector, is projected to boost the acetic acid market in the short term.
The demand for clothes and other packaged goods has increased as the worldwide population has grown, fueling the expansion of the packaging and textile sectors that use PTA, adding to overall acetic acid market growth throughout the forecast period. In the coming years, the market is expected to profit from the development of novel separation technologies to improve acetic acid production efficiency.
Category Insight by region
Acetic acid is used in a variety of industries in China, Japan, and India. The region is experiencing a boom in construction activity due to an increase in mergers and acquisitions. The following areas are seeing increased construction activity, which is projected to benefit the acetic acid end-use goods market.
Furthermore, the rapidly growing pharmaceutical industry, particularly in India and Japan, will generate significant income during the forecast period. The increased demand for medical tablets will boost market expansion because the product is commonly used in the pharmaceutical industry to create disintegrants.
Best Procurement Practices
The global Acetic Acid industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by the major Acetic Acid products across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Category Management Studies
Acetic acid is made by oxidizing acetaldehyde in the air, ethanol (ethyl alcohol), butane, and butene on a massive scale. A rhodium-iodine catalyzed methanol carbonylation technique is being used to make acetic acid (methyl alcohol).
Key Supplier Profiles included in the Global Acetic Acid Industry Report
The key market players are Celanese Corporation, INEOS Styrolution, Jiangsu Sopo Corporation, Chang Chun Petrochemical, and Eastman Chemical Company.
The report covers capacity additions, plant shutdowns, investments/divestments, mergers and acquisitions, and other latest developments in the market.
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