Acetic Acid Market Globally Expected to Drive Growth through 2027
Growing demand for acetic acid in rubber, plastics, pharmaceutical, construction, paint and other industries is driving the growth of global acetic acid market. In addition, increasing demand for Purified Terephthalic Acid (PTA) and Vinyl acetate monomer (VAM) in packaging and textile industry (polyester manufacturing), is also resulting into increasing demand for acetic acid. Increasing demand for acetic acid as vinegar due to various health benefits associated with it is also expected to accelerate the growth of global acetic acid market during the forecast period. Moreover, the expansion of new separation technologies to improve the production efficiency is also can be an opportunity for the global acetic acid market. Furthermore, being an industrial chemical and chemical reagent, acetic acid is also used in making cellulose acetate for the photographic film.
Growth of acetic acid market is comparatively low in some regions however the market is already in its maturity stage in those regions. High concentration of acetic acid can be harmful for aquatic life, animals, and plants, which can be a restraint for the global acetic acid market in forecast period. Furthermore, the volatile prices of raw material such as methanol also can be a limiting factor for the acetic acid market. Acetic Acid Market Segmentation By Application – Acetic anhydride, Vinyl acetate monomer (VAM) , Acetate esters, Purified Terephthalic Acid (PTA); By End Use – Paints and Coating, Pharmaceuticals, Food and Beverages
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The global acetic acid market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and Middle East and Africa (MEA). Asia pacific is one of the largest market of acetic acid. Taiwan and china are the key markets of acetic acid in Asia pacific region. Owing to increasing demand for paints & coatings, demand for acetic acid is witnessing surge in Asia Pacific region. India will also register a remarkable growth in the global acetic acid market in forecast period due to rising investments, increasing population, favourable government initiatives, constantly enhancing demand from end-use sectors, and expanding industries in the region. China is the largest market of acetic acid. North America and Europe are also the major markets for the acetic acid.
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Some of the key players in the global acetic acid market are-E & C chemicals Inc.,Seidler Chemical Company, Parchem – fine & specialty chemicals, Gujarat Narmada valley fertilizers & chemicals limited (GNFC), GFS chemicals Inc., Scientific solutions LLC, KAP Techno Chem. USA Inc., U.S. Chemicals Inc., Tedia Company Inc., Hydrite chemical company, Jiangsu Sopo (Group) Co., Eastman Chemicals, Wacker Chemie, WEGO CHEMICAL GROUP
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