Europe Acetic Acid Market Projected to Grow By 2023 | Most Eminent Players- BP, CELANESE, DEICIL, DOWDUPONT, SHOWA DENKO and EASTMAN CHEMICAL COMPANY, GNFC LTD., LYONDELL BASELL

Europe Acetic Acid Market Highlights:
The Europe acetic acid is expected to register a CAGR of 4.30% during the forecast period, 2018 to 2023. Vinyl Acetate Monomers (VAM) dominated the market by application in 2017 with nearly 34% share in the market, while Purified Terephthalic Acid (PTA) segment is estimated to register the fastest CAGR through the forecast period, 2018-2023.

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Key Developments in the Market
April 2017: Celanese Corporation Completes acquisition of Nylon Compounding division of Nilit.

Major Key Players:
BP, CELANESE, DEICIL, DOWDUPONT, SHOWA DENKO and EASTMAN CHEMICAL COMPANY, GNFC LTD., LYONDELL BASELL, etc. among others.

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High Demand from VAM’s
By application, VAM dominated the acetic acid market with a market share of more than 35%, followed by PTA at 22.52% in 2017. The demand for acetic acid from VAM’s has been at a steady rise owing to the rising demand from Germany , Spain and Russia.

Germany Dominates the Market
In Europe, Germany has the highest share in the market, accounting for nearly 29% of the total market share in 2017. VAM is the key raw material in the manufacturing of water-based adhesives, which account for a significant share of the adhesive and sealants market. Germany is also expected to have the highest CAGR during the forecast period. The increasing demand from Germany is expected to boost the demand for acetic acid over the forecast period.

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