Acetyls Market Emerging Trend, Advancement, Growth and Business Opportunities

Organic compounds containing a methyl group joined with a carbonyl group by a single bond are known as acetyls. The acetyl group is primarily found in acetic acid, acetylsalicylic acid, acetylcysteine, acetylcholine, and acetaminophen. Acetylation refers to the chemical process of formulating the acetyl group into a molecule. The acetyl groups of acetic anhydride, vinyl acetate monomers, and acetic acid are used in the intermediates themselves used in the production of inks, adhesives, solvents, and water-based paints.

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Large volumes of acetyls are being used in the production of purified terephthalic acid (PTA) and ester solvents, which require acetic acid in abundance. Thus, the surging use of acetic acid in the production of PTA and ester solvents will help the acetyls market progress at a CAGR of 6.9% during forecast period. According to P&S Intelligence, the market had a value of $22,004.7 million in 2015. Additionally, the burgeoning demand for adhesives from numerous industries will propel the consumption of vinyl acetate monomers globally.

Geographically, Asia-Pacific (APAC) consumed the highest volume of acetyls in the recent past, and it is also expected to adopt these compounds at the highest rate in the forthcoming years. This can be attributed to the flourishing electronics sector, expanding automotive manufacturing base, and increasing investments in the oil and gas sector in the region. Moreover, the surging healthcare expenditure, owing to the mounting per capita income and improving living standards of people, will augment the consumption of acetyls in the region.

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Furthermore, the Rest of the World (RoW) acetyls market is expected to register a significant sale of these chemicals in the upcoming years. This will be due to the mounting investments being made in the automotive, pharmaceutical, and oil and gas industries in the region. Besides, the accelerating industrialization and urbanization rates will propel the consumption of the compounds in RoW. Acetyl requirements of end-use industries of APAC and RoW are met by Eastman Chemical Company, DuPont, The Dow Chemical Company, Jubilant Life Sciences, Wacker Chemie AG, BP PLC, Helm AG, and Celanese Corporation.

Thus, the burgeoning demand for acetic acid and increasing installation of PV cells will fuel the consumption of acetyls globally.

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