NEW YORK, United States, July 28, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Acetic Acid Market Size, Share, Growth Analysis Report By Application (VAM, PTA, Anhydride, Ethyl Acetate, Butyl Acetate, Others), By End-Use (Plastics & Polymers, Food & Beverage, Inks, Paints & Coatings, Chemicals, Pharmaceuticals, Others), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Acetic Acid Market size & share in terms of revenue was worth of USD 9.2 billion in 2021 and it is expected to surpass around USD 11.08 billion mark, by 2028, growing at a compound annual growth rate (CAGR) of about 4.01% during the forecast period 2022 to 2028.”
What is Acetic Acid? How big is the Acetic Acid Market?
Market Overview:
Acetic acid, also known as ethanoic acid, is a colorless organic compound that falls under the category of carboxylic acids. Global market growth will be aided by developing and expanding applications in various industries such as paints and coatings, adhesives and sealants, and textiles. The growing demand for paints and coatings around the world drives the consumption of Vinyl Acetate Monomer (VAM), which fuels the market's growth.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
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- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 9.2 Billion |
| Projected Market Size in 2028 | USD 11.08 Billion |
| CAGR Growth Rate | 4.01% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | British Petroleum Plc, Celanese Corporation, Daicel Corporation, Eastman Chemical Company, GNFC Limited, HELM AG, LyondellBasell Industries N.V., Mitsubishi Chemical Corporation, PetroChina, SABIC, Showa Denko K.K., Sinopec, Svensk Etanolkemi AB (SEKAB), Wacker Chemie AG, and Others |
| Key Segment | By Application, End-Use, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Purchase Options | Request customized purchase options to meet your research needs. |
Global Acetic Acid Market: Growth Factors
As the global population grows, so does the demand for clothes and other packaged goods, which is driving the growth of the packaging and textile industries that use PTA, and thus contributing to the overall acetic acid market growth over the forecast period. Acetic acid is also utilized as an industrial chemical and chemical reagent in the production of cellulose acetate for photographic films, as well as polyvinyl acetate in the creation of synthetic fabrics and fibres, resulting in a growth in acetic acid consumption over the forecast period. Consumption of acetic esters is expected to rise during the forecast period, resulting in increased growth in the global acetic acid market. During the forecast period, mature market circumstances for acetic anhydride and variable costs of methanol, which is used to create acetic acid, are projected to pose a challenge to the acetic acid market's growth.
One of the major factors driving the acetic acid market is the rapid expansion of the textile sector. The textile business is booming over the world, thanks to growing living standards, rising income levels in developing nations, and shifting fashion trends and client preferences. Acetic acid is used in the textile business to make a range of compounds. However, market growth is expected to be limited in the coming years due to fluctuating raw material prices and the highly corrosive nature of acetic acid. Since acetic acid is a key component in the production of VAM, it is expected to drive the overall acetic acid market. Demand for vinyl alcohols and polyvinyl acetates is also increasing, which is propelling the industry forward.
Browse the full “Acetic Acid Market Size, Share, Growth Analysis Report By Application (VAM, PTA, Anhydride, Ethyl Acetate, Butyl Acetate, Others), By End-Use (Plastics & Polymers, Food & Beverage, Inks, Paints & Coatings, Chemicals, Pharmaceuticals, Others), and By Region - Global Industry Insights, Comparative Analysis, Trends, Statistical Research, Market Intelligence, and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/acetic-acid-market
Acetic Acid Market: COVID-19 Impact Analysis
The COVID-19 pandemic in 2020 had a negative impact on the market. The declining automotive industry, as well as the temporary shutdown of automotive manufacturing units and various construction projects due to the ongoing uncertainty of pandemic regulations, reduced the use of adhesives, paints, and coatings, negatively impacting acetic acid demand.
Work stoppages caused by measures imposed by various government authorities around the world in an attempt to slow the spread of the virus, as well as workforce shortages caused by illness and preventative quarantines, impacted most end-user industries, including textiles, food and beverage, automotive, and construction, affecting the acetic acid market's growth.
Acetic Acid Market: Segmentation Analysis
The global Acetic Acid market is segregated based on Application and End Use.
- Vinyl Acetate Monomer (VAM) segment dominated the market
Based on the Application, the Vinyl Acetate Monomer (VAM) segment dominated the market due to rising demand for VAM in industries such as paints and coatings, paper, adhesives and sealants, and textiles. VAM is primarily used as a monomer in the production of polyvinyl alcohol and polyvinyl acetate, both of which are used in coating applications. Growing demand from industries such as automobiles, paper and pulp, and construction has a significant impact on market growth. Purified Terephthalic Acid (PTA) is also used in the production of polyesters, such as polyethylene terephthalate (PET) bottles, polyester fibre, and polyester film. Polyester is also used in textiles and food and beverage containers.
Based on the End user, the paints and coatings segment dominates the global acetic acid market. The increase is due to increased demand for acetic acid in the manufacture of paints and coatings. Acetic acid, also known as ethanoic acid, is used in the production of vinyl acetate, which is then polymerized and converted into esters such as ethyl acetate, which is then used as a solvent in paints.
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Competitive Landscape
The report contains qualitative and quantitative research on the global acetic acid Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. Some of the main competitors dominating the global Acetic Acid market include -
- British Petroleum Plc
- Celanese Corporation
- Daicel Corporation
- Eastman Chemical Company
- GNFC Limited
- HELM AG
- LyondellBasell Industries N.V.
- Mitsubishi Chemical Corporation
- PetroChina
- SABIC
- Showa Denko K.K.
- Sinopec
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Acetic Acid market is estimated to grow annually at a CAGR of around 4.01% over the forecast period (2022-2028).
- In Terms Of Revenue, The Acetic Acid market size was valued at around US$ 9.2 billion in 2021 and is projected to reach US$ 11.08 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Based on Application, vinyl acetate monomer dominates the market. This is due to the product's widespread demand from the world's rapidly growing industrial and cosmetics manufacturing sectors.
- Asia Pacific dominated the market and will account for the majority of the market in 2021. This is due to the region's increasing penetration of polymer formulators.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Acetic Acid industry?
- What are the main driving factors propelling the Acetic Acid Market forward?
- What are the leading companies in the Acetic Acid Industry?
- What segments does the Acetic Acid Market cover?
- How can I receive a free copy of the Acetic Acid Market sample report and company profiles?
Regional Analysis:
Asia-Pacific is the world's largest consumer of acetic acid. Because of its strong industrial base, the Asia-Pacific market is expected to be the largest market for the textile industry. Acetic acid is widely used in the production of greases, coatings, polyesters, and sealants, which are used in a wide range of industries such as electronics, automobiles, textiles, and packaging.
The rapid expansion of these industries is one of the major factors driving market growth in the Asia Pacific region. China is the world's largest chemical exporter and producer, both in the Asia-Pacific region and globally. The growing demand from the Chinese chemical industry, combined with population growth, is the primary factor driving up output.
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The global acetic acid market is segmented as follows:
By Application
- VAM
- PTA
- Anhydride
- Ethyl Acetate
- Butyl Acetate
- Others
By End-Use
- Plastics & Polymers
- Food & Beverage
- Inks, Paints & Coatings
- Chemicals
- Pharmaceuticals
- Others
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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