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Chemicals and Materials

Global Acetic Acid Market Size and ...

Historical and Forecast Market Trends

2018-34

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Acetic acid, also known as ethanoic acid, is a colourless liquid organic compound having a characteristic pungent smell and sour taste. It is prepared by bacterial fermentation or oxidation of ethanol.

Acetic acid has been classified as a weak acid and has numerous applications in various industries like pharmaceutical, construction, water treatment, rubber, plastics, etc. Vinegar, which is dilute acetic acid, is used as a food ingredient in kitchen. Acetic acid is also used in the manufacture of vinyl acetate monomer (VAM), purified terepthalic acid (PTA), acetate esters, etc. According to a new report by Expert Market Research, the global acetic acid market reached a value of USD 23.23 billion in 2023 and is further expected to reach a value of around USD 36.36 billion by 2032.

The production of acetic acid has observed a significant growth during 2018-2023. VAM, the largest end-use industry of acetic acid, is used in manufacture of a number of polymers and resins for coatings, adhesives, paints, etc. As a result, the production of acetic acid is booming. Moreover, the rise in the production of other end-products such as PTA, ethylene-vinyl acetate (EVA) copolymers, ethyl acetate and butyl acetate, etc. involving the consumption of acetic acid has also led to an increase in its demand. Population growth, emerging markets and government policies are some of the other factors stimulating the market growth.

Key findings from the report:

  • The end-use industries of acetic acid include Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetic Anhydride, Ethyl Acetate and Butyl Acetate. Vinyl acetate monomer (VAM) is one of the most rapidly growing end-use industries which accounts for around 33 % of its total global consumption.       
  • Region-wise, Asia dominated the market with a share of more than two-fifth of the total global consumption. It was further followed by North America, Europe and Middle East and Africa.
  • Being fragmented in nature, the global acetic acid market is surrounded by a number of players. Some of these players include British Petroleum, Celanese, Shanghai Wujing, Jiangsu Sopo, Reliance, Eastman, Lyondell Basell, Daicell, Sipchem, Kuraray.

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Expert Market Research has analysed the global acetic acid market according to end-use, major regions and top players:

Market breakup by End-use

  • Vinyl Acetate Monomer (VAM)
  • Purified Terephthalic Acid (PTA)
  • Acetic Anhydride
  • Ethyl Acetate
  • Butyl Acetate

Market breakup by Region

  • China
  • North America
  • Western/Eastern Europe
  • North East Asia
  • South East Asia
  • Middle East & Africa

Top players

  • British Petroleum
  • Celanese
  • Shanghai Wujing
  • Jiangsu Sopo
  • Reliance

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Report Summary

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Application
  • End Use Industry
  • Region
Breakup by Application
  • Vinyl Acetate Monomer (VAM)
  • Purified Terephthalic Acid (PTA)
  • Anhydride
  • Ethyl Acetate
  • Butyl Acetate
Breakup by End Use Industry
  • Plastics and Polymers
  • Food and Beverages
  • Inks, Paints, and Coatings
  • Chemicals
  • Pharmaceuticals
  • Others
Breakup by Region
  • China
  • North America
  • Western/Eastern Europe
  • North East Asia
  • South East Asia
  • Middle East & Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • British Petroleum
  • Celanese
  • Jiangsu Sopo
  • Chang Chun Group
  • Daicel Corporation
  • Eastman Chemical Company 
  • LyondellBasell Industries Holdings B.V
  • Mitsubishi Chemical Corporation.
  • Svensk Etanolkemi AB (SEKAB)
  • INEOS Group Holdings S.A
  • Global Chemical Resources
  • Altiras Chemicals LLC
  • Saudi Basic Industries Corporation
  • Anant Pharmaceuticals Pvt. Ltd. 
  • Others

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