The growing demand for textiles by the increasing population and increasing application in Vinyl Acetate Monomer is expected to drive the market for acetic acid.
Market Size – USD 12.48 Billion in 2018, Market Growth – CAGR of 6.2%, Market Trends – Growing demand for textiles and packaging in China.
The global Acetic Acid Market is forecast to reach USD 21.65 Billion by 2027, according to a new report by Reports and Data. The growing use of acetic acid in the production of different products such as purified terephthalate acid and vinyl acetate monomers (VAM) is expected to boost the market size of acetic acid during the forecast period.
Acetic acid is used to produce VAM, which is, in turn, is used to manufacture various resins and polymers for adhesives, films, paints, coatings, textiles, and other end-user products. Polyvinyl Alcohol (PVOH) and Polyvinyl acetate (PVA) are the major derivatives manufactured using Vinyl Acetate Monomers (VAM). PVA is significantly employed in adhesives, textiles, photosensitive coatings, packaging films, and thickeners, whereas PVOH finds its applications in paper coatings, industrial coatings, and paints owing to their ideal adhesion properties. The growing investments in infrastructure across the globe are expected to propel the demand for coatings and sealants, which in turn, positively contribute towards the growth of the acetic acid. Furthermore, the rising application of acetic acid in the manufacture of terephthalic acid is also anticipated to drive the market during the forecast period.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Acetic Acid Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
Key findings of the report:
Acetic acid is used in the manufacture of bottles and other synthetic materials. It is used in making pigments, dyes, and paint and coating additives. The acid is used in printing on fabric and also used as a cleaning and degreasing solvent.
The textile industry is another major employer of acetic acid for its dyeing operations. Acetic acid is used as a buffering agent in dyeing the cloth with a particular color. The textile industry is flourishing in the context of exploding global population amalgamated with increasing disposable income, augmenting the per-capita consumption of goods, including textiles.
Acetic acid is produced both by bacterial and synthetic fermentation. An approximate amount of 75% of acetic acid used that is used in the chemical industry is manufactured by Methanol Carbonylation.
Carbonylation of methanol to produce acetic acid catalyzed by homogeneous metal complexes is the most successful industrial applications. The process has many benefits such as high yield of the product and high conversion of reactants, but the disadvantages are also apparent, which include the high cost of the catalyst (rhodium) and the severe corrosion to equipment by the cocatalyst iodide.
Increasing investments in healthcare, along with growing concerns towards healthcare, coupled with rising consumption of vinegar, is expected to propel the demand in the European region. The region is forecasted to grow with a CAGR of 5.7% during the forecast period.
Key participants include Mitsubishi Chemical Corporation, Sinopec, Wacker Chemie, GNFC Limited, Saudi International Petrochemicals, DuPont, Eastman Chemical Company, Daicel Corporation, Jiangsu Sopo (Group), and LyondellBasell, among others.
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For the purpose of this study, the global Acetic Acid market has been segmented on the basis of disease type, application, distribution channel, and region:
Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Solid
Liquid
Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Biological Route
Synthetic Route
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Acetic anhydride
Monochloroacetic
Textiles
Terephthalic acid
Vinyl acetate monomer
Ketene
Dimethylacetamide
Others
End-Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Food and Beverage
Plastics and Polymers
Chemicals
Inks, Paints, and Coatings
Others
By Region (Revenue, USD Million; 2017-2027)
North America
U.S.
Canada
Europe
Germany
U.K.
France
BENELUX
Rest of Europe
Asia Pacific
China
Japan
South Korea
Rest of Asia Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa
Saudi Arabia
U.A.E.
Rest of Middle East & Africa
Key Coverage of the Report:
An in-depth analysis of the historical years and the forecast period has been offered in the report
Acetic Acid Market dynamics, including key drivers, challenges, restraints, threats, and growth opportunities have been analyzed in reports
SWOT analysis and Porter’s Five Forces analysis with feasibility analysis and investment return analysis
Competitive landscape benchmarking along with a comprehensive overview of their company profiles, product portfolios, strategic business decisions, and financial standings
The report covers mergers and acquisitions, product launches and brand promotions, joint ventures, collaborations, and partnerships among few
Pictorial representation of the key statistical data into graphs, tables, charts, diagrams, and figures
An in-depth analysis of the current and emerging market trends and developmental patterns
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