Acetic Acid Market, Key Players, Strategies, Trends, Forecast Till 2016-2027

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.

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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.

Market Dynamics:

The materials and chemicals market revenue has expanded significantly over the years and is expected to register robust revenue growth over the forecast period. Technological advancements, rising investments in research and development activities, increasing demand for raw materials in various sectors such as manufacturing, agriculture, food and beverage, pharmaceutical and biotechnology is boosting market growth. In addition, changes in consumer preference, rising disposable income especially in the developing economics, rising funds by several public and private organizations, and increasing demand for biodegradable products are factors boosting market growth.

Asia-Pacific dominates the market for acetic acid in the global market. The region is anticipated to be the largest market for the textile industry, owing to the strong industrial base. Increase in population and improving economic conditions are also driving the market in the region. China is the largest market for acetic acid worldwide. The country accounted for approximately more than 30% of the global consumption.

Further key findings from the report suggest

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.
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For the purpose of this report, Reports and Data have segmented into the global Acetic Acid market on the basis of form, manufacturing process, application, end-users, and region:

Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

North America
U.S.
Europe
UK
France
Asia Pacific
China
India
Japan
MEA
Latin America
Brazil
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
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End-Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Food and Beverage
Plastics and Polymers
Chemicals
Inks, Paints, and Coatings
Others
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