The global acetic acid market size is expected to worth around US$ 16.4 billion by 2026 and forecasted to grow at striking CAGR around 6.2% over the forecast time frame 2019 to 2026, According to Acumen Research and Consulting.
The report provides analysis of global acetic acid market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Also recognized as ethanoic acid, acetic acid is a colorless liquid that functions as a significant forerunner to the manufacturing of multiple chemicals used in the fabric, gum and plastic sectors. It functions as an intermediary to formulate multiple coatings, sealants, and greases commonly used in the building, automotive, and packaging industries. During the forecast period, acetic acid demand is expected to demonstrate significant development. Increasing use of acetate acid in the manufacture of multiple products, such as vinyl acetate monomers (VAM) and purified terephthalate acid, is expected to increase business volume during the evaluation era. Acetic acid is commonly used to make VAM, which is used to create multiple resins and polymers for adhesives, movies, paints, coatings, textiles and other end-user products.
PVA and polyvinyl alcohol (PVOH) are the main derivatives produced using VAM. PVA is commonly used in textiles, adhesives, packaging movies, photosensitive coatings and thickeners, while PVOH discovers applications in paper coatings, paints and industrial coatings due to its outstanding adhesion characteristics. Growing infrastructural projects across the globe are expected to boost demand for coatings and sealants, thus adding favorably to the development of supply for acetic acid monomers over the forecast period. In addition, the increasing use of acetic acid in terephthalic acid manufacturing is also set to help market growth during the forecast period. Terephthalic acid is a significant construction block in the manufacture of polyester resins, widely used in polyester movies, PET resins and polyester polymers. Terephthalic acid is also used in house furnishing and textile production such as bed linen, dresses and curtains. The market's main participants are seen investing in R&D operations to increase their manufacturing ability. This continuing trend will add considerably to the sector during the evaluation era. For example, Celanese Corporation, a significant business competitor, announced a 150-kilo tonnes development of its acetic acid and VAM crop capability in Clear Lake, Texas. Eastman Chemical Company also announced at its U.S. facility in Longview, Texas, the extension of its carboxylic acid crop capability.
The acetic acid industry is anticipated to grow significantly in emerging nations. These nations are experiencing fast economic growth associated by large-scale development of equipment production chemicals, textiles and coatings. Therefore, growth in the development of these initiatives offers enormous growth prospects in acetic acid supply. Rising petroleum feedstock prices along with strict regulations are likely to bring new business growth opportunities. The skilled players are constantly seen shifting to producing bio-based acetic acid from sugar, corn, cheese whey waste, poplar tree, and other bakery residues. Bio-based acetate has the same characteristics as convectional acid with minimal environmental harm. Moreover, the price volatility of standard raw materials such as methanol will further boost the transition to bio-based acetic acid in the coming years.
VAM's acetic acid industry was the biggest sector in 2018, and is anticipated to show comparable trends throughout the forecast era. VAM is a main intermediate used to make several polymers & resins for paints, coatings, adhesives, movies, fabrics and other end-use goods. Growing demand for these apps worldwide is expected to add favorably to segment development by the end of the forecast period. Moreover, fast industrialization & urbanization, primarily in Asia Pacific and the Middle East areas, has resulted to a sharp increase in the building sector, which in turn will have a later effect on item supply during the timeframe prediction. Asia-Pacific construction industry, for example, is probable to experience elevated development in coming years. In addition, increasing demand for cars in emerging countries, combined with the increasing change in production bases, will also increase demand for vinyl acetate monomer in the coming years. Vinyl acetate monomer is a chemical construction block used for many manufacturing and consumer products. Polyvinyl acetate is used in the manufacture of paints and coatings and adhesives, as well as for versatile substrates and textile sizing of polyester fiber-fill insulation.
VAM is a main raw material in the manufacture of water-based adhesives, representing important use on the worldwide adhesives and sealants industry. The monomer acts as a significant raw material for producing water-based adhesives, which is particularly common in the automotive and building sectors. Acetate esters are another market-leading class. Demand for acetate esters is motivated by their elevated consumption in the coating sector.
PTA was the second biggest implementation section in 2018 and will demonstrate the same pattern throughout the evaluation era. The increasing demand for PTA for PET bottles and polyester movies is expected to fuel segment development.
The worldwide market for acetic acid is split into North America, Latin America, Asia Pacific excluding Japan (APEJ), Europe and Middle East and Africa (MEA). Asia Pacific is the biggest acetic acid industry. Taiwan and China are Asia-Pacific's main acetic acid markets. Demand for acetic acid in Asia Pacific is experiencing an increase in request for paints & coatings. India will also record a notable development in the worldwide acetic acid industry in the forecast period owing to rising assets, rising population, favorable public measures, steadily growing demand from end-use sectors and growing industries in the region. North America and Europe are also significant acetic acid markets.
In the APAC region, enhanced clothing demand has urged textile manufacturers to embrace creative techniques to increase output and profit margins. Textile industry uses various kinds of chemicals, mainly acetic acid. Increasing textile manufacturing is anticipated to increase the acetic acid industry in the coming years.
Global Acetic Acid Market, by Manufacturing Process
Global Acetic Acid Market, by Application
Global Acetic Acid Market, by Geography
The market research study on “Acetic Acid Market Size, Share & Trends Analysis Report By Manufacturing Process, Application, By Region - Global Industry Size, Share, Trends and Forecast 2019 - 2026” offers detailed insights on global acetic acid market segments with market dynamics and their impact. The report also covers basic technology development policies.
The study provides a extensive industry assessment. This is done through in-depth qualitative observations, historical information and verifiable business size estimates. The predictions in the study were obtained from well-established study methodologies and expectations. This study document acts as an assessment and data resource for every aspect of the industry including, but not restricted to, regional economies, technology, kinds and apps.
Key Players & Strategies
Some vital players in the acetic acid market include Mitsubishi Chemical Corporation, Jiangsu Sopo (Group), Sinopec, GNFC Limited, Saudi International Petrochemicals, Daicel Corporation, DuPont, British Petroleum, LyondellBasell, Wacker Chemie, Celanese Corporation, HELM AG, Eastman Chemical Company and PetroChina
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