The Europe acetic acid market size reached 1.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 1.7 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.6% during 2023-2028.
Acetic acid (CH3COOH), also known as methane carboxylic acid, ethanoic acid, or vinegar acid, is a clear, colorless liquid with a strong, pungent odor of vinegar. It is an organic monocarboxylic acid that contains two carbons. Some of the methods employed to produce acetic acid include the oxidation of acetaldehyde and ethylene, carbonylation of methanol, and bacterial fermentation. Methanol carbonylation is currently the most employed process for acetic acid production. This synthetic carboxylic acid acts as a food acidity regulator, a preservative with antimicrobial effects, and a protic solvent.. It is also versatile, biodegradable, safe, sustainable, and cost-effective. In addition, they have low toxicity and offer antibacterial, antifungal, and antiviral properties. As a result, acetic acid is widely adopted in the production of cellulose acetates, metal acetates, vinyl acetates, and volatile organic esters such as ethyl and butyl acetate. Moreover, it finds extensive applications in plastics and polymers, food and beverage (F&B), inks, paints, and coatings, chemicals, pharmaceutical sectors across the region.
Europe Acetic Acid Market Trends:
The market is primarily driven by the expanding food and beverage (F&B) industry. In addition, the escalating demand for acetic acid in the preparation, storage, and preservation of processed food products is contributing to market growth. Moreover, the widespread adoption of acetic acid for producing purified terephthalic acid (PTA) due to the increasing popularity of lightweight and recyclable polyethylene terephthalate (PET) bottles in the medical and consumer goods sectors represents another major growth-inducing factor. Besides this, the rising product demand in the paints, coating, and sealants industries due to changing consumer lifestyles, increasing disposable income levels, and the growing number of house redecoration and renovations are accelerating the product adoption rate. Along with this, extensive product use in vinegar production and the increasing vinegar consumption owing to its potential health benefits, such as blood pressure maintenance, weight reduction, and regulation of blood sugar and cholesterol levels, are propelling the market growth. Furthermore, the increasing product utilization in textile and packaging industries, growing construction activities, and extensive research and development (R&D) activities among key players to minimize energy consumption during production and reduce overall operating costs, are also creating a positive market outlook across Europe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe 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.
- Ethyl Acetate
- Butyl Acetate
The report has provided a detailed breakup and analysis of the Europe acetic acid market based on the application. This includes VAM, PTA, anhydride, ethyl acetate, butyl acetate, and others. According to the report, VAM represented the largest segment.
End Use Industry Insights:
- Plastics and Polymers
- Food and Beverage
- Inks, Paints and Coatings
A detailed breakup and analysis of the Europe acetic acid market based on the end-use industry has also been provided in the report. This includes plastics and polymers, food and beverages, inks, paints and coatings, chemicals, pharmaceuticals, and others. According to the report, inks, paints and coatings accounted for the largest market share.
- United Kingdom
The report has also provided a comprehensive analysis of all the major regional markets that include Germany, France, the United Kingdom, Italy, Spain, and others.
The report has also provided a comprehensive analysis of the competitive landscape in the Europe acetic acid market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the acetic acid market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the Europe acetic acid market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe acetic acid industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.