Global Acetic Acid Market 2017 - British Petroleum, Celanese, Shanghai Wujing, Jiangsu Sopo, Reliance

The global acetic acid market is witnessing a positive growth owing to the growing demand for acetic acid and its derivatives, particularly VAM and PTA, in a number of industries such as textiles, rubbers, plastics, etc.

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The latest report by IMARC Group, titled “Acetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global acetic acid market has grown at a CAGR of more than 6% during 2009 – 2016, reaching a volume of around 16 Million Tons in 2016. Acetic acid, also known as ethanoic acid, is a colourless liquid with a pungent odour. It is produced on an industrial level, both synthetically and by bacterial fermentation. Acetic acid exhibits antibacterial and antifungal properties, as a result of which it is popularly used as a food additive. It also serves as an important solvent and chemical reagent for the production of chemical compounds, such as acetone, ethyl acetate, aspirin, etc. Acetic acid also finds applications in the manufacture of dye stuffs, perfumes, rayon fibre, polymers and rubber.

Highlights of the global acetic acid market:

Growing demand for vinyl acetate monomer and purified terephthalic acid is expected to be the major driving factor.

VAM represents the largest and fastest growing end-use industry.

Asia dominates the global production of acetic acid, followed by North America.

The demand for VAM (vinyl acetate monomer), which is the largest derivative of acetic acid, is driving the growth of the market since it is used in the production of adhesives and sealants, paper coatings, textile finishes, photographic films, etc. Besides VAM, PTA (purified terephthalic acid) is another important derivative of acetic acid, mainly used in the construction and packaging industries. Further, increasing industrialisation and urbanisation rates in the developing regions like Asia-Pacific, Middle-East and Latin America have boosted the growth of the global acetic acid market. Moreover, the increasing demand for vinegar is also triggering the market as it is used for numerous house-hold chores and in the food and beverage industry.

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The market has been segmented on the basis of end-use, including VAM, PTA, acetic anhydride, ethyl acetate and butyl acetate manufacturing industries. Amongst these, the VAM industry is the largest and one of the fastest growing end-use sector. On the basis of key regions, Asia currently represents the largest producer, accounting for the majority of the total global production. Other major regions include Europe, North America, and Middle East and Africa. On analysing the competitive landscape, it is found that Celanese, Jiangsu Sopo, Reliance, Shanghai Wujing, BP Chemicals, etc. are the key players operative in the market.

Browse related report :

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