Acetic Acid Market Size, Share, Global Industry Overview, Analysis, Growth Factors and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "𝐀𝐜𝐞𝐭𝐢𝐜 𝐀𝐜𝐢𝐝 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖″, The study provides a detailed analysis of the industry, including the global acetic acid market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the acetic acid market?

The global acetic acid market size reached US$ 11.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

What is acetic acid?

Acetic acid, also known as ethanoic acid, is a colourless liquid organic compound characterized by its pungent smell and sour taste. Its chemical formula is CH3COOH. It's a crucial industrial chemical and a primary component of vinegar, contributing to its typical acidic taste and aroma. Acetic acid is a weak acid in terms of its ionization in water, but it's highly corrosive and can cause skin burns and eye damage. It's miscible with water, ethanol, and ether. It displays a significant freezing point depression, turning into a solid just below room temperature at 16.7 degrees Celsius (62 degrees Fahrenheit). Acetic acid is known for its versatility in applications and its reactivity, serving as a key raw material in the production of numerous chemical compounds. It exhibits strong antimicrobial properties, which make it useful as a preservative in food and other products. Acetic acid is extensively used in various industries such as textile, chemical, pharmaceuticals and the rubber.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐭𝐨 𝐠𝐞𝐭 𝐚𝐧 𝐢𝐝𝐞𝐚 𝐨𝐟 𝐨𝐮𝐫 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/acetic-acid-technical-material-market-report/requestsample

What are the growth prospects and trends in the acetic acid industry?

The expanding textile industry, which requires acetic acid in dyeing processes, is driving the market growth. In addition to this, the increasing demand for Vinyl Acetate Monomer (VAM) in the production of adhesives, paints, and coatings is pushing the need for acetic acid. Moreover, rising consumption of processed food, where acetic acid acts as a preservative, is stimulating the market growth. Rapid urbanization and development in emerging economies are escalating the demand for acetic acid. The expanding pharmaceutical industry, requiring acetic acid for acetate esters, is contributing to the market growth. The growing trend of sustainable agriculture is escalating the demand for bio-based acetic acid in the production of pesticides. The increasing demand for Polyethylene Terephthalate (PET) bottles, which use acetic acid in manufacturing, is fueling the market growth. The expanding rubber industry, where acetic acid is used for rubber coagulation, is driving the market growth. The rise in the consumption of vinegar in households and the food industry is stimulating the market growth. The growing demand for acetate esters in inks and solvents is pushing the need for acetic acid. Technological advancements in acetic acid production processes are contributing to increased output and lower costs. The rising consumer awareness regarding hygiene and sanitation is boosting the use of cleaning products, in turn driving acetic acid demand. The growth of the packaging industry, requiring acetic acid for certain plastics, is pushing the market growth. The increasing use of acetic acid in water treatment plants is escalating the market growth. The increasing focus on bio-based acetic acid, due to environmental concerns, is stimulating the market growth. The expanding electronics industry, where acetic acid is used in certain manufacturing processes, is driving the market growth. The growing need for acetic anhydride in cellulose acetate for cigarette filters is pushing the market forward. Other factors such as rising global population, advancements in the healthcare industry and growth of the cosmetics industry are further driving the market growth across the globe.

Who are the key players operating in the industry?

The report covers the major market players including:

• British Petroleum Plc
• Celanese Corporation
• Daicel Corporation
• Eastman Chemical Company
• GNFC Limited
• HELM AG
• LyondellBasell Industries N.V.
• Mitsubishi Chemical Corporation
• PetroChina
• SABIC
• Showa Denko K.K.
• Sinopec
• Svensk Etanolkemi AB (SEKAB)
• Wacker Chemie AG

Key Market Segmentation:

The report has segmented the global acetic acid market on the basis of application, end-use and region.

Breakup by Application:

• VAM
• PTA
• Anhydride
• Ethyl Acetate
• Butyl Acetate
• Others

Breakup by End-Use:

• Plastics & Polymers
• Food & Beverage
• Inks, Paints & Coatings
• Chemicals
• Pharmaceuticals
• Others

Breakup by Region:

• China
• North America
• Western/Eastern Europe
• North East Asia
• South East Asia
• Middle East & Africa

𝐀𝐬𝐤 𝐀𝐧𝐚𝐥𝐲𝐬𝐭 𝐟𝐨𝐫 𝟏𝟎% 𝐟𝐫𝐞𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭:https://www.imarcgroup.com/request?type=report&id=591&flag=C

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This release was published on openPR.