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The Asia Pacific acetic acid market is currently witnessing steady growth. Acetic acid is a colorless compound produced by the fermentation or oxidation of natural carbohydrates. Also known as ethanoic acid, acetic acid is widely utilized as a cleaning agent in households. Moreover, it is used to produce volatile organic acetate, metal acetate, and vinyl acetate monomer (VAM).
Acetic acid is widely utilized in the production of greases, coatings, polyesters and sealants, which find extensive applications in numerous industries, such as electronics, automobiles, textiles and packaging. The extensive growth in these industries represents one of the major factors driving the market growth in the Asia Pacific region. Moreover, as acetic acid is used in the manufacturing of vinegar, a rise in the consumption of the condiment is strengthening the growth of the market. Apart from this, leading players are investing in research and development (R&D) projects to reduce the energy consumption while producing the acid and minimize the overall operating costs. However, due to the surging cases of the coronavirus disease (COVID-19), governments of various countries have imposed lockdowns, which have halted operations at various manufacturing units and hindered international trade. The industry will experience growth once lockdown restrictions are relaxed in these countries. Looking forward, the market is expected to continue its steady growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific acetic acid market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, application and end use industry.
Breakup by Application:
Breakup by End Use Industry:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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