Global Acetic Acid Market Share Is Expected to Grow At A CAGR Value Of Around 4.01% By 2028

12-Jul-2022 | Facts and Factors

According to Facts and Factors, The global Acetic Acid Market size was valued at USD 9.2 billion in 2021 and is predicted to increase at a CAGR of 4.01% to USD 11.08 billion by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.

Global Acetic Acid Market Size

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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.

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

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.

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.

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.

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

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Some of the major companies operating in the global acetic acid market are 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 among others.

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
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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