The “Acetic Acid Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Acetic Acid Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global acetic acid market size was US$ 10.1 billion in 2021. The global acetic acid market is forecast to grow to US$ 15.5 billion by 2030, registering a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030.
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Acetic acid is an essential component used in the manufacturing of complex chemicals. It finds its applications in various industries, such as water treatment, chemicals, plastics, and polymers, etc. Acetic acid is also used in household applications as a disinfectant agent.
Factors Influencing the Market
The increasing demand for wastewater treatment and the growing number of wastewater treatment plants is driving the growth of the global acetic acid market. In addition, the introduction of advanced separation technologies will offer ample growth opportunities for the acetic acid market growth.
Rising demand for purified terephthalic acid (PTA) from the textile and packaging industry is forecast to benefit the global acetic acid market.
Increasing environmental concerns due to the harmful effects of acetic acid may limit the growth of the market.
The rising number of construction activities in emerging economies of Asia-Pacific is forecast to drive the demand for coating, adhesives, and paints. As a result, it will boost the growth of the acetic acid market during the forecast period.
The growing number of activities related to company expansion and increasing product portfolio will accelerate the growth of the global acetic acid market. INEOS purchased BP’s global Aromatics & Acetyls business in January 2021 with the aim to expand the company’s geographic reach and expand its product portfolio.Celanese Corporation and Southwest Institute of Chemical Co. Ltd declared in 2020 that the companies are planning to develop acetic acid to acrylic acid technology in Teng Zhou, China. All of these activities are forecast to boost the growth of the global acetic acid market.
COVID-19 Impact Analysis
The global acetic acid market is experiencing a significant decline in the demand for acetic acid. End-use industries have been suffering from major setbacks from the previous 2 years. As a result, it is limiting the growth of the overall acetic acid demand.
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Regional Analysis
On the basis of region, the global acetic acid market is forecast to witness the highest growth rate in the Asia Pacific, followed by North America and Europe. In Asia-Pacific, China is forecast to hold the maximum share due to a large number of activities related to chemical processing. Thus, China will account for the maximum chemical production globally. In addition, the presence of a large number of paint companies will drive the growth of the country.
Competitors in the Market
- Eastman Chemical Company
- British Petroleum
- LyondellBasell
- Celanese Corporation
- Gujarat Narmada Valley Fertilizers & Chemicals
- Helm AG
- Pentoky Organy
- Dow Chemicals
- Indian Oil Corporation
- Other prominent players
Market Segmentation
The global acetic acid market segmentation focuses on Application, End-Use Industry, and Region.
Based on the application
- Vinyl Acetate Monomer
- Acetic Anhydride
- Acetate Esters
- Purified Terephthalic Acid
- Ethanol
Based on the end-use industry
- Plastics and Polymers
- Water treatment
- Chemicals
- Others
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Based on region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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