Acetic Acid Market Analysis, Growth, Drivers, Opportunities, Challenges, Segmentation with Forecast 2033

The acetic acid market size has grown strongly in recent years. It will grow from $15.33 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to chemical industry growth, textile and fiber production, surface coating applications, widespread use in pharmaceuticals, paper and pulp processing, rise in water treatment needs.

The acetic acid market size is expected to see strong growth in the next few years. It will grow to $20.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to bio-based acetic acid production, rising demand for ethyl acetate, growth in packaging industry, focus on green chemistry, demand for acetic anhydride, increasing use in automotive coatings. Major trends in the forecast period include investments in research and development, consolidation and mergers & acquisitions, advancements in food preservation technologies, global economic trends and trade dynamics, collaborations and partnerships.

Market Overview -
Acetic acid is an organic substance with a strong odor and sour flavor. It is a carboxylic acid comprised of a carboxyl functional group connected to a methyl group with the chemical formula CH3COOH and usually, it is a by-product of fermentation.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=8898&type=smp

Textile Sector Expansion Fuels Growth In The Acetic Acid Market
Rising expansion in the textile sector is expected to boost the growth of the acetic acid market going forward. The textile industry involves research, design, development, manufacturing, and distribution of textiles, fabrics, and clothing. In the textile industry, acetic acid is used in producing rayon, the majority of latex, and artificial materials, as well as for fabric dyeing. For instance, according to the report published in 2022 by Royale International, a Hong Kong-based provider of logistics solutions and international courier services, the predicted size of the global textile market in 2021 was $993.6 billion. In 2022, that market was projected to grow to $1,032.1 billion. Therefore, the rising expansion of the textile sector is driving the growth of the acetic acid market.

Competitive Landscape -
Major companies operating in the acetic acid market report are Eastman Chemical Company, LyondellBasell Industries NV, Daicel Corporation, Shanghai Huayi Group Corporation Limited, Celanese Corporation, BP plc, Saudi Basic Industries Corporation (SABIC), HELM AG, Airedale Chemical Company Limited, Indian Oil Corporation Limited, Wacker Chemie AG, DuPont de Nemours Inc., Mitsubishi Chemical Corporation, Showa Denko K.K., Kingboard Chemical Holdings Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Jubilant Life Sciences Limited, China Petroleum & Chemical Corporation (Sinopec), PetroChina Company Limited, Jiangsu Danhua Group Co. Ltd., Chang Chun Group, Chongqing Chuandong Chemical (Group) Co. Ltd., China National Chemical Corporation, Yankuang Cathay Coal Chemicals Co. Ltd., Sinochem Group, Sichuan Vinylon Works, Shandong Yankuang Group Co. Ltd., Sasol Limited, Saudi International Petrochemical Company, Solvay SA, Kuraray Co. Ltd., The Procter & Gamble Company

Acetic Acid Market Sees Growth Through Green Ethanol-Based Solutions
Major companies operating in the acetic acid market are focused on producing sustainable solutions, such as new green ethanol-based acetic acid, to drive their revenues in the market. Green ethanol-based acetic acid is a type of acetic acid that is produced from bio-based ethanol, adhering to the principles of green chemistry. For instance, in April 2022, Jubilant Ingrevia Limited, an India-based chemical company, announced the commissioning of its new green ethanol-based food-grade acetic acid plant at its manufacturing facility in India to cater to the increasing demand in the food preservative segment across the globe. The natural bio-based feedstock used to make green ethanol will be used in the product's manufacturing process. When it comes to food preservation needs, it will offer a more healthful choice than acetic acid made from petroleum.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/acetic-acid-global-market-report

Key Segments -
The acetic acid market covered in this report is segmented -
1) By Sales Channel: Direct Company Sale, Direct Import, Distributors and Traders, Retailers
2) By Application: Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, Other Applications
3) By End-Use: Food and beverages, Paints and coating, Plastics and Polymers, Pharmaceutical, Chemicals, Other End-Uses

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.