Acetic Acid Market

Acetic Acid Market was estimated at USD 6,251 Million in 2020 and projected to grow at 5.6% CAGR during the forecast period.

Introduction of the Acetic Acid Market Report

Acetic Acid is a clear, colourless, organic liquid with a strong odour similar to household vinegar. Acetic acid has various uses in different industries such as food and beverages, paint and coatings, chemical, and pharmaceutical industries. Acetic acid is the most commercially important organic acid used to manufacture a broad range of chemical products such as plastic and insecticide.

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Market Dynamic

Key Drivers and Emerging Trends

The Acetic Acid Market is forecast to witness a significant growth over the forecast period, primarily because of the expansion of textile industry and growing demand for purified terephthalic acid (PTA) from packaging industry. As per the Bloomberg report, the Global Technical Textile Market is forecast to touch US$ 370 billion by 2032. Increasing application of acetic Acid in food and beverages, pharmaceutical and paints and Coatings industries and rising demand for Vinyl Acetate Monomer for various end-use applications like textiles, coatings, and paints and adhesives are forecast to strengthen the market growth. In addition, the development of innovative separation techniques such as BP’s Cativa and Celanese’s AO-plus to expand the production efficiency of acetic acid and reduces the capital cost will offer enormous opportunities for the market.

Moreover, the growth can also be attributed to the increasing consumption of vinegars as it helps in maintaining blood pressure and blood sugar and reducing weight. The growing sales of Electric vehicles in the market has bolstered the acetic acid market owing to the use of paints and coatings in the production of electric vehicles. However, the strict norms enforced by different Agencies worldwide might impede the market growth.

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Application – Segment Analysis

Based on the Application, vinyl acetate monomer is expected to grow at a higher CAGR rate during the forecast period. Acetic Acid is largely used in VAM, which further used in producing water-based paints, adhesive, waterproofing coating and paper and paperboard coatings. For instance, companies such as Celanese Corporation produce acetic Acid, which can be further used to produce a variety of products essentials like cosmetics, hair conditioners, shampoos, mouthwashes, and can also be used as window cleaner or surface cleaner acts as vinegar.

End User – Segment Analysis

Based on the End User, Pharmaceuticals is expected to grow at a higher CAGR rate during the forecast period. Pharmaceuticals industry uses Acetic Acid as a high-end medical product. Acetic Acid is an antibiotic that treats infection caused by bacteria or fungus. For example, Acetic Acid Otic (for the ear) is used to treat infection in ear canal. For instance, Devats India Private Limited, manufacturer of tablets, capsules, dry syrups use acetic acid for production. Furthermore, acetic Acid can be used to produce vitamins, antibiotics, and other products.

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Regional – Segment Analysis:

Based on the region, the Asia Pacific region is expected to grow at a higher CAGR rate during the forecast period. Asia Pacific is the largest consumer of acetic acid it is a key substance used across all industries such as Chemical, Pharmaceutical, Textile, and paints and coating in the country like China, India, and Japan. In addition, China is a hub for chemical processing, companies operating are Celanese and BP both are world first and second largest producer of acetic acid respectively.

Top Market Players

Various notable players operating in the market, include, Eastman Chemical Company, British Petroleum, LyondellBasell Industries Holdings B.V, Celanese, Gujarat Narmada Valley Fertilizers & Chemicals Limited, HELM AG, Pentoky Organy, Dow, Yankuang Group, Jiangsu SOPO (Group) Co, among others. 

Key Developments:

• • In 2021, BP’s global Aromatics & Acetyls business was acquired by INEOS which includes 15 different production sites and 10 mergers, to further strengthen its presence and enhance its product portfolio.
  • In 2019, British Petroleum extended its Petrochemical presence in Korea. The expansion is expected to add 100000 tonnes in a year of Acetic acid capacity.

Segments covered in the Report:

The global Acetic Acid market has been segmented on the basis of Application, End User and key regions. Based on Application, the market is segmented VAM vinyl acetate monomer, PTA, Anhydride, Ethyl Acetate, Butyl Acetate, and Others. Based on End User, the market is segmented into Food & Beverage, Pharmaceuticals, Chemicals, Plastics & Polymers, Paints & Coatings, and Others. Based on region market are segmented into Asia Pacific, Europe, North America, and RoW. 

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Key questions answered in this research report:

• • At what pace is global Acetic Acid market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Acetic Acid market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Acetic Acid market?
  • Which Application generated maximum revenues in 2020 and identify the most promising Application during the forecast period?
  • What are the various End User areas of global Acetic Acid market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Acetic Acid Market by Application

• • VAM vinyl acetate monomer
  • PTA
  • Anhydride
  • Ethyl Acetate
  • Butyl Acetate
  • Others

Global Acetic Acid Market by End User

• • Food & Beverage
  • Pharmaceuticals
  • Chemicals
  • Plastics & Polymers
  • Paints & Coatings
  • Others

Global Acetic Acid Market by Region

• • North America Acetic Acid Market (Option 1: As a part of the free 25% customization)
    • By Application
    • By End User
    • US Market All-Up
    • Canada Market All-Up
  • Europe Acetic Acid Market (Option 2: As a part of the free 25% customization)
    • By Application
    • By End User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Acetic Acid Market (Option 3: As a part of the free 25% customization)
    • By Application
    • By End User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Acetic Acid Market (Option 4: As a part of the free 25% customization)
    • By Application
    • By End User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Acetic Acid (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Eastman Chemical Company
  • British Petroleum
  • LyondellBasell Industries Holdings B.V
  • Celanese
  • Gujarat Narmada Valley Fertilizers & Chemicals Limited
  • HELM AG
  • Pentoky Organy
  • Dow
  • Yankuang Group
  • Jiangsu SOPO (Group)