The global acetic acid market was worth more than US$ 9 Billion in 2017, registering a CAGR of 8% during 2010-2017. The market is further projected to reach around US$ 13 Billion by 2023, at a CAGR of 5% during 2018-2023. Acetic acid (CH3COOH), also known as ethanoic acid or methane carboxylic acid, refers to a colorless organic compound which has a strong, sour and pungent smell. It is one of the most important chemical reagents and industrial chemicals that is employed in the production of metal acetates, vinyl acetate, cellulose acetate, and volatile organic esters like ethyl and butyl acetates. Apart from this, the diluted form of acetic acid, produced by the fermentation and oxidation of natural carbohydrates, is widely used as a cleaning agent in households.
Global Acetic Acid Market Drivers:
- Acetic acid is used in the manufacturing of coatings, greases, polyesters and sealants which find applications in a number of industries such as electronics, automobiles, textiles, and packaging.
- Presently, polyethylene terephthalate (PET) bottles are gaining popularity in the medical and consumer goods sectors as they are lightweight and recyclable in nature. As PET bottles are manufactured by using purified terephthalic acid (PTA), produced from acetic acid, their mounting demand is catalyzing the growth of the market.
- A rise has been witnessed in the consumption of vinegar as it helps in reducing weight, maintaining blood pressure, and regulating blood sugar and cholesterol levels. As acetic acid is used in the manufacturing of vinegar, it is impelling the overall growth of the market.
- Manufacturers of acetic acid are increasingly adopting new technologies like BP's Cativa and Celanese's AO-plus (Acid Optimization Plus) which deliver significant savings in variable costs, as well as lower capital costs for the construction of new plants. Besides this, they also increase the capacity, enhance the production efficiency, reduce the energy consumption by approximately 30% and lower operating costs. The increasing adoption of these emerging technologies for producing the chemical and its derivatives is creating a positive outlook for the growth of the industry.
Breakup by Application:
On the basis of applications, the market is segregated as VAM, PTA, Anhydride, Ethyl Acetate, Butyl Acetate and others. Amongst this, VAM represented the largest end-use segment of acetic acid as it is used in the manufacturing of numerous polymers and resins used in textiles, paints, coatings and adhesives.
Breakup by End-Use:
Based on end-users, the market is categorized as plastics and polymers; food and beverage; inks, paints and coatings; chemicals; pharmaceuticals and others.
Regional Insights:
On a geographical front, China enjoys the leading position in the global acetic acid market. Acetic acid is one of the vital organic acids which is extensively used in the chemical industry in China. Other markets include North America, Western/Eastern Europe, North East Asia, South East Asia, and Middle East and Africa.
Competitive Landscape:
The market is fragmented in nature with the presence of a large number of players who compete against each other in terms of prices and quality. Some of the leading players operating in the market include:
- British Petroleum Plc
- Celanese Corporation
- Daicel Corporation
- DuPont
- 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
The report provides a comprehensive insight into the global acetic acid industry including its market breakup by region, market breakup by end-uses, SWOT analysis, Porter’s five forces analysis, value chain analysis, import and export trends, key players and market outlook. The report also gives an in-sight into the manufacturing process of acetic acid covering key success and risk factors for manufacturers, manufacturing process flow, the reactions involved, raw materials requirements, etc.
The essential aspects of the global acetic acid market evaluated in the report include:
- Market trends
- Major regions
- Key application areas
- Major End-Use Industries
- Key manufacturers
- Price trends
- Raw material requirements
- Chemical reactions involved in the manufacturing process
- Major importers and exporters
- Value chain analysis
- Market trends for major feedstocks
- Price trends for major feedstocks
- Key regions for major feedstocks
- Key players for major feedstocks
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Properties
5 Global Acetic Acid Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Price Analysis
5.3.1 Price Indicators
5.3.2 Price Structure
5.3.3 Price Trends
5.4 Market Breakup by Region
5.5 Market Breakup by Application
5.6 Market Breakup by End Use Industry
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Strengths
5.8.2 Weaknesses
5.8.3 Opportunities
5.8.4 Threats
5.9 Value Chain Analysis
5.9.1 Raw Material Procurement
5.9.2 Manufacturing
5.9.3 Marketing
5.9.4 Distribution
5.9.5 Exports
5.9.6 End-Use
5.10 Porter’s Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
5.11 Trade Data
5.11.1 Imports
5.11.2 Exports
5.12 Key Market Drivers and Success Factors
6 Performance of Key Regions
6.1 China
6.2 North America
6.3 Western/Eastern Europe
6.4 North East Asia
6.5 South East Asia
6.6 Middle East & Africa
7 Market by Application
7.1 VAM
7.2 PTA
7.3 Anhydride
7.4 Ethyl Acetate
7.5 Butyl Acetate
7.6 Others
8 Market By End Use Industry
8.1 Plastics & Polymers
8.2 Food & Beverage
8.3 Inks, Paints & Coatings
8.4 Chemicals
8.5 Pharmaceuticals
8.6 Others
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
9.3 Profiles of Major Players
9.3.1 British Petroleum Plc
9.3.2 Celanese Corporation
9.3.3 Daicel Corporation
9.3.4 DuPont
9.3.5 Eastman Chemical Company
9.3.6 GNFC Limited
9.3.7 HELM AG
9.3.8 LyondellBasell Industries N.V.
9.3.9 Mitsubishi Chemical Corporation
9.3.10 PetroChina
9.3.11 SABIC
9.3.12 Showa Denko K.K.
9.3.13 Sinopec
9.3.14 Svensk Etanolkemi AB (SEKAB)
9.3.15 Wacker Chemie AG
10 Acetic Acid Manufacturing Process
10.1 Product Overview
10.2 Chemical Reactions Involved
10.3 Detailed Process Flow
10.4 Raw Material Requirement
10.5 Mass Balance and Feedstock Conversion Rate
11 Acetic Acid: Feedstock Analysis
11.1 Methanol
11.1.1 Market Performance
11.1.1.1 Volume Trend
11.1.1.2 Value Trend
11.1.2 Price Trend
11.1.3 Market Breakup by Region
11.1.4 Key Suppliers
11.2 Carbon Monoxide
11.2.1 Market Performance
11.2.1.1 Volume Trend
11.2.1.2 Value Trend
11.2.2 Price Trend
11.2.3 Key Suppliers
List of Figures
Figure 1: Global: Acetic Acid Industry Overview
Figure 2: Global: Acetic Acid Market: Production Volume Trends (in Million Tons), 2010-2017
Figure 3: Global: Acetic Acid Market: Production Value Trends (in Billion US$), 2010 - 2017
Figure 4: Global: Acetic Acid Price Trends (in US$/Ton), 2010 - 2017
Figure 5: Global: Acetic Acid Market: Breakup by Region (in %), 2017
Figure 6: Global: Acetic Acid Market: Breakup by End-Use (in %), 2017
Figure 7: Global: Acetic Acid Market Forecast: Production Volume Trends (in Million Tons), 2018-2023
Figure 8: Global: Acetic Acid Market Forecast: Production Value Trends (in Billion US$), 2018-2023
Figure 9: Global: Acetic Acid Industry: SWOT Analysis
Figure 10: Global: Acetic Acid Industry: Value Chain Analysis
Figure 11: Global: Acetic Acid Industry: Porter’s Five Forces Analysis
Figure 12: Global: Acetic Acid Market: Import Volume Breakup by Country
Figure 13: Belgium: Acetic Acid Market: Import Volume Trend (in Tons)
Figure 14: Global: Acetic Acid Market: Export Volume Breakup by Country
Figure 15: USA: Acetic Acid Market: Export Volume Trend (in Tons)
Figure 16: China: Acetic Acid Market (in Million Tons), 2010, 2017 & 2023
Figure 17: North America: Acetic Acid Market (in Million Tons), 2010, 2017 & 2023
Figure 18: Western/Eastern Europe: Acetic Acid Market (in Million Tons), 2010, 2017 & 2023
Figure 19: North East Asia: Acetic Acid Market (in Million Tons), 2010, 2017 & 2023
Figure 20: South East Asia: Acetic Acid Market (in Million Tons), 2010, 2017 & 2023
Figure 21: Middle East & Africa: Acetic Acid Market (in Million Tons), 2010, 2017 & 2023
Figure 22: Global Acetic Acid Market: VAM (in Million Tons), 2010, 2017 & 2023
Figure 23: Global Acetic Acid Market: PTA (in Million Tons), 2010, 2017 & 2023
Figure 24: Global Acetic Acid Market: Anhydride (in Million Tons), 2010, 2017 & 2023
Figure 25: Global Acetic Acid Market: Ethyl Acetate (in Million Tons), 2010, 2017 & 2023
Figure 26: Global Acetic Acid Market: Butyl Acetate Market (in Million Tons), 2010, 2017 & 2023
Figure 27: Global Acetic Acid Market: Other Applications (in Million Tons), 2010, 2017 & 2023
Figure 28: Global: Acetic Acid Market: Market Share of Key Players (in %)
Figure 29: Acetic Acid Manufacturing Process: Detailed Process Flow
Figure 30: Global: Acetic Acid Manufacturing Process: Conversion Rate of Products
Figure 31: Global: Methanol Market: Production Volume Trends (in Million Tons), 2010-2017
Figure 32: Global: Methanol Market: Production Value Trends (in Million Tons), 2010-2017
Figure 33: Global: Methanol Market: Price Trends (in US$/Ton), 2010-2023
Figure 34: Global: Methanol Market: Breakup by End-Use (in %)
Figure 35: Global: Carbon Monoxide Market: Production Volume Trends (in Million US$), 2010-2017
Figure 36: Global: Carbon Monoxide Market: Production Value Trends (in Million US$), 2010-2017
Figure 37: Global: Carbon Monoxide Market: Price Trends (in US$/Ton), 2010-2023
List of Tables
Table 1: Acetic Acid: Physical Properties
Table 2: Acetic Acid: Chemical Properties
Table 3: Global: Acetic Acid Market: Key Industry Highlights, 2017 and 2023
Table 4: Global: Acetic Acid Market Forecast: Breakup by Region, 2018-2023
Table 5: Global: Acetic Acid Market: Imports by Major Countries
Table 6: Global: Acetic Acid Market: Exports by Major Countries
Table 7: Global: Acetic Acid Market: Competitive Structure
Table 8: Acetic Acid Manufacturing: Raw Materials Required
Table 9: Global: Methanol Market: Major Players