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The global acetic acid market was valued at US$ 11.2 Billion in 2022.
We expect the global acetic acid market to exhibit a CAGR of 6.2% during 2023-2028.
The growing adoption of acetic acid for manufacturing vinegar, as its consumption helps in reducing weight, maintaining blood pressure, and regulating blood sugar and cholesterol levels, is primarily driving the global acetic acid market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for acetic acid.
Based on the application, the global acetic acid market has been bifurcated into VAM, PTA, anhydride, ethyl acetate, butyl acetate, and others. Among these, VAM currently holds the majority of the total market share.
Based on the end-use, the global cheese market can be divided into plastics & polymers, food & beverage, inks, paints & coatings, chemicals, pharmaceuticals, and others. Currently, the inks, paints & coatings industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into China, North America, Western/Eastern Europe, North East Asia, South East Asia, and Middle East & Africa, where China currently dominates the global market.
Some of the major players in the global acetic acid market include British Petroleum Plc, Celanese Corporation, Daicel Corporation, 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, etc.
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