Acetic Acid Market Size, Share & Global Research Report

 

Acetic Acid Market

Acetic Acid Market was valued at USD 6,251 Million in 2020 and anticipated to expand at 5% CAGR over the forecast period (2021-2028).

The factors driving the growth of Acetic Acid Market includes growing use of Acetic Acid in food and beverages, pharmaceutical and paints and Coatings industries and rising demand for Vinyl Acetate Monomer around the world. Moreover, the rapid expansion in textile Industry, is expected to increase the Global Acetic Acid Market in the coming years, as per the report published by Bloomberg, the Global Technical Textile Market is projected to Reach US$ 370 billion by 2032. In addition, the increasing consumption of vinegar for maintaining blood pressure and controlling Cholesterol levels, are some of the other factors, augmenting the growth of Acetic Acid Market. The increasing sales of Electric Vehicles in the International Markets is expected to boost the Acetic Acid Market owing to extensive use of paints and coatings for manufacturing electric vehicle, according to JATO, total 4.2 million units of Electric cars were sold in 2021 in the global markets.

However, the growth of Acetic Acid Market is hindered due to strict regulations imposed by different Agencies worldwide. The European Chemicals Agency (ECHA) categorized acetic acid under the Harmonised classification and labelling (CLP00) because it can cause severe damage to skin and eyes.

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

Application – Segment Analysis

Based on the Application, vinyl acetate monomer is projected to expand at a significant CAGR over the forecast period due to its increasing use for producing water-based paints and paperboard coatings, along with growing demand for shampoos, mouthwashes, and cosmetics.

End User – Segment Analysis

Based on the End User, Pharmaceuticals is anticipated to grow at a faster CAGR rate during the forecast period due rising demand of Acetic Acid for developing high-end medical products, along with its ability to treat infection caused by bacteria.

Regional: Segment Analysis

According to Acetic Acid Market Report, the Asia Pacific region is projected to grow at a remarkable CAGR rate over the forecast period due to increasing use of Acetic Acid in Pharmaceutical, Textile, paints & coatings, and automotive industries. As per Crisil, China’s share in the Global Chemical sales has increased from 24% in 2010 to 37% in 2018, which will boost the Acetic Acid Market Size in Asia-Pacific.

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

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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