Current Trends: Acetic Acid Market Size & Share to Surpass $ 26.6 Billion by 2028 | Vantage Market Research
WASHINGTON, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Global Acetic Acid Market is valued at $ 20.2 Billion in 2021 and is projected to reach a value of $ 26.6 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 4.7% over the forecast period 2022-2028.
The Acetic Acid market is one of the key sectors, and significant growth is projected moving forward. Despite the industry's turbulence, a variety of factors could influence its growth or decline. To give a thorough understanding of the industry, this study evaluates both present trends and projected future changes. It also includes information on the major companies in the market and their growth plans.
The report offers a thorough analysis of global suppliers and producers, as well as their present situation and prospects in the future. Additionally, it provides details on factors driving the global need for Acetic Acid, such as growing investment requirements, advancing technology, and new laws.
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Acetic Acid Market Overview
According to Vantage Market Research, some of the main factors projected accelerating the Acetic Acid market demand in the coming years. The growing consumption of solvents including VAM for different industries such as adhesives and sealants, paints & coatings, and others. Moreover, the increased demand for PTA in manufacturing polyester for textile industry to further drive the market growth.
We forecast that the vinyl acetate monitor category in Acetic Acid market sales will account for more than 45% in 2021 and is estimated to witness significant growth during the forecast period. The growing demand for VAM in paper as well paint coatings along with rising house renovations are the key factors for category dominance.
Asia Pacific dominated the Acetic Acid market, and this trend of dominance to continue in the coming years. The rising building and construction activities across the emerging economies as well as the growing pharmaceutical industry to drive the market growth during the forecast period. Besides, North America is projected to witness considerable share in the coming years due to high demand for acetic acid from the food and beverage industry in the region.
Acetic Acid Market Dynamics
Growing Infiltration of for Coating Industry
The ester solvants are majorly used in the coating industry due to its notewothy properties such as levelling properties, evaporation rate, solubility, good solvent release, blush resistance, and others. The high use of coatings in some key industries such as infrastructure, industrial applications, and automotive to further enhance the market demand in the coming years.
Growing Demand for Textile Industry
The growing adoption of acetic acid for the printing and dyeing in the textile industry to enhance the demand for acetic acid in the coming years. Moreover, the synthetic fiber production is done by using vinyl acetate monomer which is further driving the demand for acetic acid in the industry.
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Scope of the Report:
Market Size in 2021
USD 20.2 Billion
Revenue Forecast by 2028
USD 26.6 Billion
4.7% from 2022 to 2028
2022 to 2028
Eastman Chemical Company, Celanese Corporation, Lynodellbasell Industries Holding B.V., SABIC, Indian Oil Corporation Ltd., Gujrat Narmada Valley Fertilizers & Chemicals Limited, Pentokey Organy, Ashok Alco Chem Limited, Daicel Chemical Corporation, The Dow Chemical Product, HELM AG, Airedale Chemical Company Limited, DubiChem, INEOS Group Ltd.
Top Trends in Global Acetic Acid Market
One trend that Vantage Market Research (V.M.R.) expects to see in the Acetic Acid industry is growing demand for vinyl acetate monomer. The vinyl acetate monomer is majorly used to manufacturer resins, textiles, coatings, paints, and others which is further estimated to drive the market growth in the coming years.
Another trend that V.M.R. predicts will continue in the Acetic Acid industry is Asia Pacific continue leading the market. The region is home to some of the key industries such as coatings and paints, food and beverages, plastics and polymers, and chemicals among others whers the acetic acid is majorly used. Hence, VMR expected the Asia Pacific to continue its dominance over the forecast period.
Top Report Findings
Based on application, the vinyl acetate monomer (VAM) category dominated the acetic acid market. This is due to the high use of vinyl acetate monomer to manufacture polyvinyl acetate and other crucial components for the paints industry.
Based on end users, the food and beverages category dominated Acetic Acid market, and this trend is anticipated to continue. The high demand for Acetic Acid to produce PET bottles for beverage industry and high use for vinegar in the food and beverage industry which is majorly produce from acetic acid.
Based on region, the Asia Pacific region dominated the market in 2021. The high-use of acetic acid in the industries such as textiles, agriculture, food and beverages, polymers, and paints & coatings in the region are the key driver for the market growth.
Key Points Covered in Acetic Acid Industry Survey:
Market Estimates and Forecasts (2016-2028)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
Assessment by Product Grade / Purity / Formulation Standards
Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
Leading Export - Import Destinations
Certifications and Compliance Requirements
COVID-19 Impact on Demand for Organic Acids and How to Navigate
Recommendation on Key Winning Strategies
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Top 10 Players Generates More Than 45% of the Global Acetic Acid Market Revenue
The report also found that the largest players in the Acetic Acid market are technology providers such as Eastman Chemical Company, Celanese Corporation, Lynodellbasell Industries Holding B.V., SABIC, Indian Oil Corporation Ltd. These companies are expected to benefit from increased demand for their products and services and growing investments in new mines. Other major players include Gujrat Narmada Valley Fertilizers & Chemicals Limited, Pentokey Organy, Ashok Alco Chem Limited, Daicel Chemical Corporation, The Dow Chemical Product, HELM AG, Airedale Chemical Company Limited, DubiChem, INEOS Group Ltd., and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Vinyl Acetate Monomer in Acetic Acid Market to Generate Over 40% Revenue
Acetic Acid is an expensive investment. Vantage Market Research has analyzed the market for Acetic Acid to understand its current state and potential future growth factors. For better understanding, based on application Acetic Acid market is divided into: Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, and Others.
During the forecast period, the market for Acetic Acid is anticipated to experience the highest CAGR for the vinyl acetate monomer category. Vinyl acetate monomer growth is majorly driven by the high use of the chemical in the paper coatings, paints, printed products, and others.
On the other hand, the acetic anhydrate category is anticipated to grow significantly over the forecast period. Acetic anhydrate had its major use in photographic films along with manufacturing of cigarette filters. Moreover, the category is also considered as a major raw material for different medicines including asprin.
Top Players in the Global Acetic Acid Market
Eastman Chemical Company (US)
Celanese Corporation (US)
Lynodellbasell Industries Holding B.V. (Netherlands)
SABIC (Saudi Arabia)
Indian Oil Corporation Ltd. (India)
Gujrat Narmada Valley Fertilizers & Chemicals Limited (India)
Pentokey Organy (India)
Ashok Alco Chem Limited (India)
Daicel Chemical Corporation (Japan)
The Dow Chemical Product (US)
HELM AG (Germany)
Airedale Chemical Company Limited (UK)
INEOS Group Ltd. (UK)
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Acetic Acid Market Forecast Report (2022-2028).
Global Acetic Acid Market Segmentation
Vinyl Acetate Monomer
Purified Terephthalic Acid
By End Use
Food and beverages
Paints and coating
Plastics & Polymers
Middle East & Africa
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