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Acetic Acid Market Size Forecast: $21.54 Billion by 2029 | Global Outlook
Acetic Acid Market
What Is the Projected Market Size Valuation of the Acetic Acid Market by 2025?
The market for acetic acid has shown a consistent growth trend in the past few years. Forecasted to expand from a size of $16.16 billion in 2024, it will reach $16.86 billion by 2025 with a compound annual growth rate (CAGR) of 4.4%. The growth seen in the historical phase is linked with the expansion of the chemical industry, augment in textile and fiber production, application in surface coating, extensive usage in pharmaceuticals, paper and pulp processing, and increased demand in water treatment.
What Is the Estimated Market Growth Value for the Acetic Acid Industry in 2029?
In the forthcoming years, the acetic acid market is projected to witness robust expansion. The market is predicted to escalate to $21.54 billion by 2029, growing annually at a rate of 6.3%. The projected augmentation during this period can be credited to various factors such as the production of bio-based acetic acid, the swelling demand for ethyl acetate, an upturn in the packaging industry, accentuation on green chemistry, demand expansion for acetic anhydride, and its rising applications in automotive coatings. The prediction period is likely to see significant trends such as investment boost in research and development, consolidation coupled with mergers and acquisitions, progress in food preservation technologies, global economic shifts and trade spectra, along with numerous collaborations and partnerships.
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What Are the Growth Drivers and Opportunities in the Acetic Acid Market?
The anticipated growth of the acetic acid market can be attributed to the expanding textile industry. This industry encompasses a wide range of activities such as research, design, creation, manufacturing, and distribution of textiles, fabrics, and clothes. Acetic acid plays a significant role in the manufacturing of rayon, most kinds of latex, synthetic materials, and in the process of fabric dyeing. The Royale International, based in Hong Kong and providing logistics solutions and international courier services, forecasted in their 2022 report that the global textile market had a projected worth of $993.6 billion in 2021. This projection jumped to $1,032.1 billion in 2022. Consequently, it is the steady growth in the textile industry that fuels the expansion of the acetic acid market.
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What Are the Primary Segments Covered in the Global Acetic Acid Market Report?
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
Subsegments:
1) By Direct Company Sale: Bulk Sales, Contract Sales
2) By Direct Import: International Trading Companies, Direct Import From Manufacturers
3) By Distributors And Traders: Regional Distributors, National Distributors, Specialty Traders
4) By Retailers: Online Retailers, Local Chemical Supply Stores, Industrial Supply Retailers
What Are the Top Growth Trends in the Acetic Acid Market?
Leading corporations in the acetic acid market are concentrating on developing eco-friendly alternatives, such as new green ethanol-based acetic acid, to boost their market earnings. Green ethanol-based acetic acid is a version of acetic acid derived from bio-based ethanol, in agreement with green chemistry principles. For example, in April 2022, Jubilant Ingrevia Limited, an Indian chemical firm, publicized the launch of its new green ethanol-based food-grade acetic acid plant at its production site in India aimed at meeting the rising global demand in the food preservative sector. The organic bio-based raw material used to produce green ethanol will be utilized in the manufacturing procedure of this product. This will provide a healthier alternative for food preservation compared to acetic acid derived from petroleum.
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Which Companies Are Shaping the Future of the Acetic Acid Market?
Major companies operating in the acetic acid market 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
Which Region Holds the Largest Market Share in the Acetic Acid Industry?
Asia-Pacific was the largest region in the acetic acid market analysis in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the acetic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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