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:
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.
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.
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:
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:
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