Acetic Acid Market Size Worth USD 25.26 Billion in 2032 | Emergen Research

The global acetic acid market size was USD 12.43 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.4% during the forecast period. The global market for acetic acid is witnessing substantial growth attributed to its increasing utilization in manufacturing various specialty chemicals. A recent market research report highlights the pivotal role of acetic acid in the production of Polyvinyl Acetate (PVA), Vinyl Acetate Monomer (VAM), ethyl acetate, and other derivatives, driving significant revenue growth.

Specialty Chemicals Manufacturing Boosts Demand

Acetic acid finds extensive application in the production of specialty chemicals like adhesives, paints, and polymers. Particularly noteworthy is its role in introducing Polyvinyl Acetate (PVA) in Three Dimensional (3D) printing, facilitating the development of intricate geometric parts. Moreover, PVA's incorporation into medicinal drugs, including orally disintegrating tablets (ODTs), underscores its versatility in pharmaceutical manufacturing.

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Addressing Healthcare Needs

The market also benefits from PVA's contribution to manufacturing ophthalmic products, aiding the vision-impaired population globally. With approximately 2.2 billion people affected by near or distance vision impairment, the use of PVA in soft contact lenses, eye drops, and hydrogels becomes indispensable.

Textile Industries Driving Demand

Furthermore, the textile industry's rising demand for acetic acid, utilized in fabric dyeing and the production of rayon, latex, and artificial fabrics, is propelling market growth. The soft and silky properties of acetate material, along with its dyeing capabilities, make it a preferred choice in textile applications. Additionally, polyvinyl alcohol derived from acetic acid is essential in skincare product manufacturing, including moisturizers and cleansers.

Environmental Concerns and Regulatory Challenges

However, the market faces challenges stemming from the environmental impact of acetic acid production and stringent government regulations. Emissions of Greenhouse Gases (GHGs) during production, coupled with concerns about its harmful effects on plant, animal, and aquatic life, pose significant environmental challenges. Regulatory bodies like the Food and Drug Administration (FDA) and the Indian government have introduced standards and regulations to ensure the safe production and usage of acetic acid.

Segment Insights: Synthetic vs. Bio-based Acetic Acid

In terms of product segmentation, synthetic acetic acid dominates the market, owing to its industrial production methods and potential health benefits. On the other hand, bio-based acetic acid is witnessing moderate growth, attributed to its sour taste and various industrial applications, including in the food and beverage, chemicals, and pharmaceutical sectors.

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Application Insights: Plastics and Polymers Lead Market Share

The plastics and polymers segment holds a significant market share, driven by the essential role of acetic acid in polymer production. With increasing consumer income and demand for plastics, particularly in packaging, the segment is poised for continued growth. Similarly, the food and beverage segment is experiencing steady growth, fueled by the use of acetic acid in vinegar production and advancements in food technology.

Acetic Acid Top Companies and Competitive Landscape

The global acetic acid market is fragmented, with several key players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing new acetic acid products and solutions.

• Celanese Corporation
• Chang Chun Group
• Daicel Corporation
• Eastman Chemical Company
• Gujarat Narmada Valley Fertilizers & Chemicals Limited
• INEOS
• Jiangsu SOPO (Group) Co., Ltd.
• Kingboard Holdings Limited
• LyondellBasell Industries Holdings B.V.
• Mitsubishi Chemical Corporation.
• Petrochina
• Shandong Hualu-Hengsheng Chemical Co., Ltd.
• Sipchem Company
• P. Chemicals.
• Wacker Chemie AG
• Samsung fine chemicals
• Shanxi Sanwei Group Co., Ltd.
• Qingdao Hisea Chem Co., Ltd.
• Shanghai Huayi (Group) Company
• Hangzhou Verychem Science and Technology Co., Ltd.

Acetic Acid Latest Industry News

• On 9 May 2023, Celanese completed the construction of a new acetic acid plant in Texas with a capacity of 1.3million tonne per year. The new construction will benefit the company in optimizing energy and catalyst usage by running at optimal rates.

• On 28 April 2022, Jubilant Ingrevia announced the commissioning of its new Green Ethanol based food-grade Acetic Acid plant at its manufacturing facility in Uttar Pradesh, India. The food-grade acetic acid plant, has a rated capacity of 25,000 Tons Per Annum. The product will be manufactured from Green Ethanol, which is produced from natural bio-based feedstock.

• On 1 January 2021, INEOS Aromatics is a global leader in Purified Terephthalic Acid (PTA) and Paraxylene (PX) technology with 6 sites and supplies the global polyester business, which includes polyester fiber, film and Polyethylene Terephthalate (PET) packaging.

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Acetic Acid Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global acetic acid market on the basis of products, route, cargo type, and region:

• Derivative Outlook (Revenue, USD Billion; 2019-2032)
o Vinyl Acetate Monomer (VAM)
o Purified Terephthalic Acid
o Ethyl Acetate
o Acetic Anhydride
o Others

• Product Outlook (Revenue, USD Billion; 2019-2032)
o Synthetic
o Bio-Based

• Application Outlook (Revenue, USD Billion; 2019-2032)
o Plastics and Polymers
o Paints and Coatings
o F&B
o Pharmaceuticals
o Textile
o Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

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