PTA is the primary raw material for the manufacturing of PET which is a polymer extensively used in packaging industry. Positive outlook for the packaging industry, particularly in Asia Pacific is expected to directly impact the demand for acetic acid over the next six years.
VAM was the largest application segment for acetic acid and accounted for 32.4% of the global consumption in 2013. VAM is used in the adhesive and sealant industry, and the expected growth in automobile and construction industry in India, China, South Korea, Malaysia and Japan is expected to have a positive impact on the market. PTA was the second largest consumer of acetic acid, accounting for over 3 million tons in 2013, and is also expected to witness fastest growth, at an estimated CAGR
of 5.8% from 2014 to 2020.
Browse Detailed Report with TOC at:
Growing demand for PET in rigid packaging is expected to drive acetic acid demand over the next six years. However, the fluctuating raw material availability and prices is expected to be a key restraint for the growth of this market. The industry anticipates significant opportunity for producing acetic acid from alternate sources, with the market witnessing significant R&D investment recently.
Further key findings from the study suggest:
The global acetic acid market was 10,449.1 kilo tons in 2013 and is expected to grow at a CAGR of 5.1% from 2014 to 2020. China was the largest consumer of acetic acid in 2013, accounting for 37.31% of global volume. The region is also expected to witness fastest growth at an estimated CAGR of 6% from 2014 to 2020. The presence of end user industries such as automotive, construction and packaging among others is expected to be a key driving factor for increased demand in the region. In addition, low labor and raw material cost in the region make them feasible for manufacturing activities.
Rest of Asia was the second largest market and consumed 2,673.9 kilo tons of acetic acid in 2013. Countries such as India and Japan are expected to be the key contributors to the growing demand in the region. North America and Europe are expected to be sluggish markets on account of increased preference and government support towards bio based products.
The global market is consolidated with the top five companies accounting for over 70% of total market demand in 2013, with Celanese Corporation and British Petroleum being the largest companies, at a combined market share of over 45%. Other key companies in the market include BASF, DuPont, Eastman Chemicals, Sinopec and PetroChina among others.
Related Reports On Chemicals by Hexa Reports:
Global Low Density SLC NAND Flash Memory Industry 2015:
Global Passenger Car Motor Oil Industry 2015:
United States Tert-Dodecyl Mercaptan Industry 2015:
For the purpose of this study, Grand View Research has segmented the global acetic acid market on the basis of application and region:
Acetic Acid Application Outlook:
Acetic Acid Regional Outlook:
Rest of Asia
Request a sample copy of this Report at:
Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Company Name: Hexa Reports
Contact Person: Ryan Shaw
Email: Send Email
Address:Felton Office Plaza, 6265 Highway 9
Country: United States