BP, Celanese, Shanghai Huayi Acrylic Acid Co, Ltd, Daicel Corporation, Eastman Chemical Company, LyondellBasell, Shandong Hualu-Hengsheng Chemical Co., Ltd. & Jiangsu Sopo Chemical Co., Ltd. are the Major Key Players in the Acetic Acid Market Globally

The major trend being witnessed in the global acetic acid market is the rising capital expenditure for enhancing the production of the acid. The rising investments by various producers is also aimed at technological upgradation, development of new facilities, strengthening the supply chain of the product.

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Acetic acid is basically an organic compound having the molecular formula CH3COOH, which serves as a precursor for the production of different chemicals used in areas such as textiles manufacturing, inks formulation, and rubbers and plastics manufacturing.

Based on application, the acetic acid market is categorized into vinyl acetate monomer, purified terephthalic acid, acetate esters, and acetic anhydride. The market demand for the acid was the highest for vinyl acetate monomer application in 2017. The monomer serves as a major raw material for the production of water-based adhesives, which in particular is a popular form of adhesive in automotive and construction industries.

The major driver identified in the acetic acid market is the rapid expansion of textile industry. Globally, the textile industry continues to witness rapid growth, owing to the rising income levels in the developing countries, increased standard of living, and changing fashion trends and customer preferences.

The acetic acid market is expected to witness significant growth in emerging nations. These countries are witnessing rapid growth in the economy characterized by large scale expansion of chemicals, textile, and coatings manufacturing facilities. The growth in the development of these projects, therefore, offer huge growth prospect in the demand for acetic acid.

The acetic acid market is characterized by the presence of multinational corporations, which have presence in more than one country. Some of the major companies operating in the global market are BP Plc, Celanese Corporation, Shanghai Huayi (Group) Company, Daicel Corporation, Eastman Chemical Company, LyondellBasell Industries N.V., Shandong Hualu-Hengsheng Chemical Co. Ltd., Jiangsu Sopo (Group) Co. Ltd., Yankuang Cathay Coal Chemicals Co. Ltd., and Kingboard Chemical Holdings Ltd.

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The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.

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