The Asia Pacific acetic acid market size reached 10.8 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 12.1 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.7% during 2023-2028.
Asia Pacific Acetic Acid Market Size in 2022
10.8 Million Tons
Asia Pacific Acetic Acid Market Forecast in 2028
12.1 Million Tons
Asia Pacific Acetic Acid Market Growth Rate 2023-2028
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific acetic acid market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on application and end use industry.
Breakup by Application:
Breakup by End Use Industry:
Plastics & Polymers
Food & Beverage
Inks, Paints & Coatings
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Base Year of the Analysis
Application, End Use Industry, Country
China, Japan, India, South Korea, Australia, Indonesia, Others
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Key Questions Answered in This Report
The Asia Pacific acetic acid market reached a volume of 10.8 Million Tons in 2022.
We expect the Asia Pacific acetic acid market to exhibit a CAGR of 1.7% during 2023-2028.
The rising demand for acetic acid across various industries, such as electronics, automobiles, textiles, etc., to produce greases, coatings, polyesters, and sealants is primarily driving the Asia Pacific acetic acid market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several Asia Pacific nations, resulting in the temporary halt in numerous production activities for acetic acid.
Based on the application, the Asia Pacific acetic acid market has been segmented into VAM, PTA, anhydride, ethyl acetate, butyl acetate, and others. Among these, VAM currently exhibits a clear dominance in the market.
Based on the end use industry, the Asia Pacific acetic acid market can be divided into plastics & polymers, food & beverage, inks, paints & coatings, chemicals, pharmaceuticals, and others. Currently, inks, paints & coatings hold the majority of the total market share.
On a regional level, the market has been classified into China, Japan, India, South Korea, Australia, Indonesia, and others.
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