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Acetic Acid Market

Global Acetic Acid Market Size, Share, Growth, Trends: By Application: Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Anhydride, Ethyl Acetate, Butyl Acetate; By End Use Industry: Plastics & Polymers, Food & Beverages, Inks, Paints & Coatings, Chemicals, Others; Regional Analysis; Competitive Landscape; 2024-2032

Global Acetic Acid Market Outlook

The global acetic acid market size attained a value of approximately USD 23.23 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.10%, reaching a value of around USD 36.36 billion by 2032.

 

The versatility of acetic acid and the growing use of various chemicals in industries worldwide is driving the growth of the acetic acid market. The usage of acetic acid in in numerous high growth industries such as food and beverages, plastics and polymers, and pharmaceuticals is leading to a heightened demand for acetic acid. The production of paints and coatings commonly uses vinyl acetate monomer, which also contains high-purity acetic acid as one of its ingredients, thereby fuelling the high-purity acetic acid market growth. Multiple key players in the market are investing in research and development activities and seeking expansion, resulting in increased competition in the market for acetic acid.

 

Acetic Acid Market

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Increasing Demand for Vinyl Acetate Monomer to Augment the Acetic Acid Market Growth

Vinyl acetate monomer (VAM), an intermediate in the production of a range of chemical derivatives, is one of the most rapidly growing application areas of acetic acid, accounting for a majority of its total global consumption. Vinyl acetate monomer is widely utilised in paint and coating formulations. In the paints industry, VAM is polymerised to obtain polyvinyl acetate or other polymers that serve as essential ingredients in the sector.

 

Global Acetic Acid Market Share by Region

On a regional level, China currently represents a leading market for acetic acid. The growing penetration of polymer manufacturers in the country has been contributing to the growth of the market. Furthermore, as acetic acid has applications across an array of industries including paints and coatings and chemicals, rapid industrialisation and urbanisation observed in China are likely to add to the growth of the acetic acid global market. The country is witnessing increasing government investments in the construction sector, along with the expansion of multiple manufacturing projects, which is expected to enhance acetic acid demand across major domains in the forecast period.

 

Meanwhile, the North America acetic acid market is expected to witness significant growth owing to the increase in acetic acid production in the region. The use of acetic acid in the meat industry has significantly increased and has emerged as one of the region's most important application sectors.

 

Acetic Acid Market Segmentation

Acetic acid (CH3COOH) is an organic chemical compound which gives a sour taste and has a pungent smell like vinegar. It occurs as both free and combined, in the form of esters of various alcohols in many plants and has also been detected in animal secretions. It is an important chemical reagent and industrial chemical used in the manufacturing of various other chemicals that serve a number of industries such as textiles, inks, rubbers, and plastics, among others.

 

Acetic Acid Market by Segments

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Based on application, the market is segmented into:

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

 

On the basis of end use industry, the market is divided into:

  • Plastics and Polymers
  • Food and Beverages
  • Inks, Paints, and Coatings
  • Chemicals
  • Pharmaceuticals
  • Others

 

The regional markets for acetic acid include China, North America, Western/Eastern Europe, North East Asia, South East Asia and the Middle East and Africa.

 

Acetic Acid Market by Region

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Acetic Acid Market Analysis

Vinyl acetate monomer, which is responsible for a majority of the consumption of acetic acid, is witnessing an increased demand in industrial and cosmetics manufacturing sectors. Thus, the rapid growth of the cosmetics sector is, in turn, contributing to the rising demand for acetic acid. Further, in its diluted form, acetic acid is often utilised in the household sector as a descaling agent, while it is widely used as a key ingredient in the form of a chemical reagent to produce cellulose acetate in the industrial sector.

 

Acetic acid is also used as a condiment and acidity regulator in the food industry. As the chemical acts as a hydrophilic substance in its liquid form, it is suitable for a wide array of applications. In the forecast period, the use of new technology by leading market players to enhance their production capacities and formulate new product lines to expand the consumer base is expected to aid the market growth of acetic acid.

 

Key Players in the Global Acetic Acid Market

The report gives a detailed analysis of the following key players in the global acetic acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • 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

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model and SWOT analysis.

 

Key Highlights of the 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
  • Porter's Five Forces
  • 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

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Acetic Acid Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Acetic Acid Historical Market (2018-2023) 
    8.3    Global Acetic Acid Market Forecast (2024-2032)
    8.4    Global Acetic Acid Market by Application
        8.4.1    Vinyl Acetate Monomer (VAM)
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Purified Terephthalic Acid (PTA)
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Anhydride
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Ethyl Acetate
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Butyl Acetate
            8.4.5.1    Historical Trend (2018-2023)
            8.4.5.2    Forecast Trend (2024-2032)
    8.5    Global Acetic Acid Market by End Use Industry
        8.5.1    Plastics & Polymers
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Food & Beverages
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Inks, Paints & Coatings
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Chemicals
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Pharmaceuticals
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
        8.5.6    Others
    8.6    Global Acetic Acid Market by Region
        8.6.1    China
        8.6.2    North America
        8.6.3    Western/Eastern Europe
        8.6.4    North East Asia
        8.6.5    South East Asia
        8.6.6    Middle East & Africa
9    Regional Analysis
    9.1    China
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    North America
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
    9.3    Western/Eastern Europe
        9.3.1    Historical Trend (2018-2023)
        9.3.2    Forecast Trend (2024-2032)
    9.4    North East Asia
        9.4.1    Historical Trend (2018-2023)
        9.4.2    Forecast Trend (2024-2032)
    9.5    South East Asia
        9.5.1    Historical Trend (2018-2023)
        9.5.2    Forecast Trend (2024-2032)
    9.6    Middle East & Africa
        9.6.1    Historical Trend (2018-2023)
        9.6.2    Forecast Trend (2024-2032)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyers Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Price Analysis

    12.1    North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    12.2    Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
    12.3    Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
    12.4    Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
    12.5    Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
13    Trade Data Analysis
    13.1    Major Importing Countries
        13.1.1    By Volume
        13.1.2    By Value
    13.2    Major Exporting Countries
        13.2.1    By Volume
        13.2.2    By Value
14    Manufacturing Process
    14.1    Detailed Process Flow
    14.2    Operations Involved
    14.3    Mass Balance
15    Raw Material Market Analysis
    15.1    Methanol
        15.1.1    Global Methanol Historical Market (2018-2023) 
        15.1.2    Global Methanol Market Forecast (2024-2032)
        15.1.3    Methanol Historical Price Trends (2018-2023) and Forecast (2024-2032)
        15.1.4    Global Methanol Market by Region
    15.2    Carbon Monoxide
        15.2.1    Global Carbon Monoxide Historical Market (2018-2023) 
        15.2.2    Global Carbon Monoxide Market Forecast (2024-2032)
        15.2.3    Carbon Monoxide Historical Price Trends (2018-2023) and Forecast (2024-2032)
        15.2.4    Global Carbon Monoxide Market by Region
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    British Petroleum
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Celanese
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Jiangsu Sopo
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Chang Chun Group
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Daicel Corporation
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Eastman Chemical Company
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    LyondellBasell Industries Holdings B.V
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Mitsubishi Chemical Corporation.
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Svensk Etanolkemi AB (SEKAB)
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    INEOS Group Holdings S.A
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    Global Chemical Resources
            16.2.11.1    Company Overview
            16.2.11.2    Product Portfolio
            16.2.11.3    Demographic Reach and Achievements
            16.2.11.4    Certifications
        16.2.12    Altiras Chemicals LLC
            16.2.12.1    Company Overview
            16.2.12.2    Product Portfolio
            16.2.12.3    Demographic Reach and Achievements
            16.2.12.4    Certifications
        16.2.13    Saudi Basic Industries Corporation
            16.2.13.1    Company Overview
            16.2.13.2    Product Portfolio
            16.2.13.3    Demographic Reach and Achievements
            16.2.13.4    Certifications
        16.2.14    Anant Pharmaceuticals Pvt. Ltd.
            16.2.14.1    Company Overview
            16.2.14.2    Product Portfolio
            16.2.14.3    Demographic Reach and Achievements
            16.2.14.4    Certifications
        16.2.15    Others
17    Key Trend and Developments in the Market


List of Key Figures and Tables

1.    Global Acetic Acid Market: Key Industry Highlights, 2018 and 2032
2.    Global Acetic Acid Historical Market: Breakup by Application (USD Billion), 2018-2023
3.    Global Acetic Acid Market Forecast: Breakup by Application (USD Billion), 2024-2032
4.    Global Acetic Acid Historical Market: Breakup by End Use Industry (USD Billion), 2018-2023
5.    Global Acetic Acid Market Forecast: Breakup by End Use Industry (USD Billion), 2024-2032
6.    Global Acetic Acid Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Acetic Acid Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Historical Price Trends and Forecast 2018-2028
9.    Europe Historical Price Trends and Forecast 2018-2028
10.    Asia Pacific Historical Price Trends and Forecast 2018-2028
11.    Latin America Historical Price Trends and Forecast 2018-2028
12.    Middle East and Africa Historical Price Trends and Forecast 2018-2028
13.    Global Acetic Acid Market Structure

Key Questions Answered in the Report

The global market for acetic acid reached a value of USD 23.23 billion in 2023.

The market is expected to grow at a CAGR of about 5.10% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching USD 36.36 billion by 2032.

The major drivers of the market include rising disposable incomes, increasing population, and growing demand for the manufacturing of various chemicals.

The key acetic acid market trends include increasing acceptance of bio-based acetic acid, technological advancements, improvements in production capacities, and growing demand for plastics and textiles.

The major regional markets for acetic acid, according to the report, are China, North America, Western/Eastern Europe, North East Asia, South East Asia and the Middle East and Africa.

The different applications of acetic acid in the market are vinyl acetate monomer (VAM), purified terephthalic acid (PTA), anhydride, ethyl acetate, and butyl acetate.

The various end use industries in the market for acetic acid are plastics and polymers, food and beverages, inks, paints, and coatings, chemicals, and pharmaceuticals, among others.

The major players in the market, according to the report, are 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, and Anant Pharmaceuticals Pvt. Ltd., among others.

Analyst Review

The global acetic acid market attained a value of USD 23.23 billion in 2023, driven by the growing demand from application sectors and the rise of the construction industry. The market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.10%. The market is projected to be driven by the rise in acceptance of bio-based acetic acid and is expected to reach USD 36.36 billion by 2032.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. On the basis of application, the market is segmented into vinyl acetate monomer (VAM), purified terephthalic acid (PTA), anhydride, ethyl acetate, and butyl acetate with vinyl acetate monomer (VAM) sector accounting for the largest share in the market. Based on end use industry, the market is divided into plastics and polymers, food and beverages, inks, paints, and coatings, chemicals, and pharmaceuticals, among others.

 

The major regional markets for acetic acid are China, North America, Western/Eastern Europe, North East Asia, South East Asia, and the Middle East and Africa. The key players in the above market include 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, and Anant Pharmaceuticals Pvt. Ltd., among others.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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