Acetic Acid Market worth $12.33 billion by 2030, growing at a CAGR of 7.22% - Exclusive Report by 360iResearch

The "Acetic Acid Market by Concentration (Concentrated, Dilute, Glacial), Form (Crystallized, Liquid), Grade, Application, End-user - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Acetic Acid Market to grow from USD 7.57 billion in 2023 to USD 12.33 billion by 2030, at a CAGR of 7.22%.

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Acetic acid is an organic compound that is a colorless liquid, with the main components being vinegar and water, and is characterized by a sour taste and pungent smell. It is used widely in the chemical industry as a precursor for producing various chemical compounds, including vinyl acetate monomer, purified terephthalic acid, and acetic anhydride. The rising need in the food & beverage industry and the expanding application of acetic acid in the pharmaceutical industry propels its demand. However, volatility in raw material prices, particularly methanol, environmental problems over the production and disposal of acetic acid, and stringent regulations regarding its use and manufacturing may impede the use of acetic acid across diverse end-use applications. Technological advancements that can result in more sustainable production processes, the exploration of bio-based acetic acid, and its application in manufacturing greener solvents for paint and coatings industries are expected to create potential growth for the acetic acid market.

Form: Growing preference for crystallized form of acetic acid in industries due to its high purity

Crystallized acetic acid, referred to as glacial acetic acid, is a pure state of acetic acid where water and other impurities are removed to achieve a crystalline state. This form is crucial in applications requiring concentrated acetic acid without the interference of water and other substances. Liquid acetic acid is available in various concentrations, the most common being a solution of acetic acid and water. This form is versatile and used across a wide range of industries. Liquid acetic acid is preferred for applications that require a diluted form of acetic acid, such as in food preservatives, vinegar production, and some types of chemical manufacturing.

End User: Evolving usage of acetic acid in the chemical industry

In the agriculture industry, acetic acid is primarily used as a herbicide, where its acidic properties help control weeds' growth. The need for acetic acid in this sector is based on its effectiveness as a non-toxic alternative to traditional chemical herbicides. The chemicals industry utilizes acetic acid to produce vinyl acetate monomer (VAM), acetic anhydride, and other chemical intermediates. These products are further processed to manufacture adhesives, sealants, and coatings. The preference for acetic acid is driven by its versatility and efficiency in facilitating various chemical reactions. Acetic acid finds a significant application in the food & beverage industry as a preservative and flavoring agent. It is an essential ingredient in vinegar and is also used to control the acidity of various food products. In paints and coatings, acetic acid is used to modify the properties of the coating solutions, such as improving the dispersion of pigments and stabilizing the emulsion. Its application is based on the need for cost-effective and reliable ingredients to enhance the performance of paint products. Acetic acid is primarily used in the pharmaceuticals sector to manufacture cellulose acetate, which is used in absorbable sutures. It also acts as a solvent in the production of various drugs. Stringent regulations and the necessity for high-purity substances determine the pharmaceutical industry's preference for acetic acid. Acetic acid is crucial in the plastics & polymers industry, particularly in manufacturing polyvinyl acetate and cellulose acetate, which produce synthetic fibers and plastics. The need for acetic acid is associated with its role in enabling the production of high-quality plastic products.

Regional Insights:

The Americas showcases a stable acetic acid market primarily supported by the increased demand for acetic acid from the packaging, textiles, and food industries. The Americas is a significant consumer and producer of acetic acid, with major regional companies involved in strategic partnerships and expansion activities to leverage advanced technologies. Additionally, the focus on sustainable practices is prompting investment in research for cleaner production processes with reduced wastage and emissions. In Europe, the Middle East, and Africa, the European Union exhibits a well-established acetic acid market with stringent regulations, especially concerning environmental implications, driving the need for innovative and sustainable solutions. Recent patents in the EU demonstrate advancements in catalysts and production methods that reduce environmental strain. Furthermore, initiatives such as the European Green Deal may impact market dynamics, spurring eco-friendly production and consumption behaviors. In the Middle East and Africa, acetic acid consumption is growing, driven by growing industrialization and the development of the manufacturing sector. Investments in the chemical sector to diversify economies away from the oil industry have witnessed a rising interest in developing petrochemical and downstream industries, including those utilizing acetic acid. The Asia-Pacific region has been showcasing the most robust demand for acetic acid due to a growing population, industrialization, and the expansion of the manufacturing sector, especially in China, India, and Japan. These factors fuel a rise in vinyl acetate monomer (VAM), purified terephthalic acid (PTA), and acetate esters, all of which use acetic acid as a vital raw material. Furthermore, increased investments in production capacity have been observed, reflected by several patents filed to enhance production efficiency and environmental compliance.

Market Segmentation & Coverage:

This research report categorizes the Acetic Acid Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Concentration, market is studied across Concentrated, Dilute, and Glacial. The Glacial is further studied across Glacial 100%, Glacial 99.5%, Glacial 99.6%, Glacial 99.8%, and Glacial 99.9%. The Concentrated commanded largest market share of 41.76% in 2023, followed by Glacial.

Based on Form, market is studied across Crystallized and Liquid. The Liquid commanded largest market share of 82.24% in 2023, followed by Crystallized.

Based on Grade, market is studied across Food Grade, Industrial Grade, Pharmaceutical Grade, and Reagent Grade. The Industrial Grade commanded largest market share of 57.18% in 2023, followed by Food Grade.

Based on Application, market is studied across Acetate Esters, Acetic Anhydride, Butyl Acetate, Ethanol, Purified Terephthalic Acid, and Vinyl Acetate Monomer. The Vinyl Acetate Monomer commanded largest market share of 20.21% in 2023, followed by Purified Terephthalic Acid.

Based on End-user, market is studied across Agriculture, Chemicals, Food & Beverages, Paints & Coating, Pharmaceutical, and Plastics & Polymers. The Paints & Coating commanded largest market share of 22.26% in 2023, followed by Plastics & Polymers.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 43.05% in 2023, followed by Europe, Middle East & Africa.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Acetic Acid Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Acetic Acid Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Acetic Acid Market, highlighting leading vendors and their innovative profiles. These include Altiras Chemicals LLC, Anant Pharmaceuticals Pvt. Ltd., Ashok Alco Chem Limited, Azelis Group NV, BP PLC, Celanese Corporation, Central Drug House (P) Ltd., China Petroleum & Chemical Corporation, Daicel Corporation, Eastman Chemical Company, Finar Limited by Aceto Holding GmbH, Godavari Biorifineries Limited, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Hawkins, Inc., Hebei Jinchangsheng Chemical Technology Co., Ltd., HELM AG, Indian Oil Corporation Ltd., INEOS AG, Jubilant Ingrevia Limited, Junsei Chemical Co.,Ltd., Kanto Chemical Co., Inc., Kingboard Group Limited, Kishida Chemical Co.,Ltd., Lenzing AG, LyondellBasell Industries Holdings B.V., Merck KGaA, Mitsubishi Chemical Corporation, Nacalai Tesque, Inc., Noah Chemicals, INC, Sahara International Petrochemical Company, Saudi Basic Industries Corporation, SEKAB BioFuels & Chemicals AB, Spectrum Chemical Mfg. Corp., Sucroal S.A., Vizag Chemicals International, Wacker Chemie AG, Yankuang Energy Group Company Limited, Zhengzhou Batong Industrial Co., Ltd., and Zhengzhou Thadol Industry Co., Ltd..

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Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Acetic Acid Market, by Concentration
7. Acetic Acid Market, by Form
8. Acetic Acid Market, by Grade
9. Acetic Acid Market, by Application
10. Acetic Acid Market, by End-user
11. Americas Acetic Acid Market
12. Asia-Pacific Acetic Acid Market
13. Europe, Middle East & Africa Acetic Acid Market
14. Competitive Landscape
15. Competitive Portfolio
16. Appendix

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Acetic Acid Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Acetic Acid Market?
3. What is the competitive strategic window for opportunities in the Acetic Acid Market?
4. What are the technology trends and regulatory frameworks in the Acetic Acid Market?
5. What is the market share of the leading vendors in the Acetic Acid Market?
6. What modes and strategic moves are considered suitable for entering the Acetic Acid Market?

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