The global acetic acid market, in terms of value, is projected to grow at a CAGR of 6.2% from 2019 to 2026, and market to reach USD 16.4 billion by 2026. 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.
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Ethanoic acid or acetic acid is manufactured mainly in liquid shape, is colorless and has a powerful, unique and pungent aroma. Most acetic acid is generated by methanol carbonylation response, where carbon dioxide and methanol combine as a final product to produce acetic acid. Acetic acid is an antifungal and antibacterial synthetic carboxylic acid. A wide area of application of acetic acid in agriculture, paper, chemical and water treatment industries is expected to accelerate the demand for acetic acid during the forecast period and thus drive the growth of the market for acetic acid.
As the population worldwide grows, demand for clothing and other packaged products is increasing, which in turn drives the development of the packaging and textile sectors using PTA, thus adding to the development of the general acetic acid industry during the forecast period. Acetic acid is also used as an industrial chemical and chemical reagent used to generate cellulose acetate for film movies, combined with polyvinyl acetate used in the manufacturing of synthetic fabrics and fibers, thus increasing acetic acid usage during the forecast period. Acetic Esters consumption projected to rise, which is anticipated to cause market growth across the glove during the forecast period.
Reduced output at low temperatures, poor crystal compatibility, and hair rash and metal corrosion are variables anticipated to hamper acetic acid market growth during the prediction era. Vinyl acetate monomer (VAM) is anticipated to boost the acetic acid industry as a significant contributor to VAM manufacturing. Demand for vinyl alcohols and polyvinyl acetates is also increasing, pushing the acetic acid industry growth. VAM is also used to produce polymer for coatings and adhesives to boost acetic acid usage. Acetic acid is also used as a preservative in the food industry and in family products. High demand for acetic acid in the manufacturing and food industry of VAM & TPA would thus boost business development in acetic acid. However, environmental concerns such as non-biodegradability and emission into the atmosphere of damaging components such as aerosols can limit the development of acetic acid in VAM and TPA manufacturing. Growing demand for acetic acid in rubber, plastics, pharmaceutical, building, paint and other sectors is pushing worldwide acetic acid business development. Increasing demand for Purified Terephthalic Acid (PTA) and Vinyl Acetate Monomer (VAM) in the packaging and fabric industries (polyester production) also leads to increased demand for acetic acid. Increasing demand for acetic acid as vinegar owing to multiple related health advantages is also anticipated to boost the development of the worldwide acetic acid industry during the forecast period.
Acetic acid business growth is relatively small in some areas, but the industry is already maturing in those areas. High acetic acid concentration can be detrimental to aquatic life, livestock, and crops, which in the forecast period can be a constraint to the worldwide acetic acid industry. Also, volatile raw material prices like methanol can be a limiting factor for the acetic acid industry. Chinese industry will proceed to drive acetic acid growth. The biggest end-use in China is PTA, followed by VAM and ethyl acetate. Overall, Chinese acetic acid usage will expand heavily during the forecast period, driven by ongoing powerful PTA supply. Consumption on the Indian Subcontinent will also improve sharply over the forecast period. PTA leads consumption in this region, followed tightly by ethyl acetate.
Key Players & Strategies
Some vital players in the acetic acid market includes 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.
Market, by Manufacturing Process
- Synthetic route
- Methanol carbonylation
- Terephthalic/isophthalic acid coproduct
- Paraffin oxidation
- Oxidation of hydrocarbons
- Olefin oxidation
- Biological route
Market, by Application
- Vinyl acetate monomer
- Acetic anhydride
- Terephthalic acid
- Acetate esters
Global Acetic Acid Market, by Geography
- North America.
- Latin America
- Middle East and Africa (MEA)
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.
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