India Acetic Acid Market to Reach 2.0 Million Tons by 2032, Impelled by Multifarious Applications in Various Industries

May 09, 2022 | Chemical & Materials

The latest report by IMARC Group, titled “India Acetic Acid Market Report by Application (VAM, PTA, Anhydride, Ethyl Acetate, Butyl Acetate, and Others), End Use Industry (Plastics & Polymers, Food & Beverage, Inks, Paints & Coatings, Chemicals, Pharmaceuticals, and Others), and Region 2024-2032,” finds that the India acetic acid market size reached 1.3 Million Tons in 2023. Acetic acid, also known as methane carboxylic acid or ethanoic acid, is a colorless compound produced by the carbonylation of methanol or oxidation of natural carbohydrates. It is characterized by a sour, strong, and pungent smell and is extensively utilized to produce vinyl acetate monomer (VAM), metal acetates, purified terephthalic acid (PTA), cellulose acetate, and ethyl and butyl acetates. It is also used as a cleaning agent in households and as an intermediary in manufacturing coatings, sealants, and greases across numerous industry verticals.

India Acetic Acid Market Trends:

The market is primarily driven by the rising product adoption across diverse industries in India. For instance, acetic acid is utilized as an acidity regulator and condiment in the food and beverage (F&B) industry. It is also employed in the production of greases, coatings, polyesters, and sealants, which find extensive applications in electronics, automobiles, textiles, and packaging industries. Besides this, the increasing utilization of acetic acid in the pharmaceutical industry to produce specialty chemicals and active pharmaceutical ingredients (APIs) is creating a favorable market outlook across the country. Moreover, the leading manufacturers are investing in capacity expansions, new plant installations, and facility revamps to expand their production. They are also focusing on technological advancements in production technology to reduce energy consumption, lower overall operating costs and ensure increased production efficiency. Looking forward, IMARC Group expects the market volume to reach 2.0 Million Tons by 2032, exhibiting a CAGR of 4.7% during the forecast period (2024-2032).

Market Summary:

  • On the basis of the application, the market has been categorized into VAM, PTA, anhydride, ethyl acetate, butyl acetate and others.
  • Based on the end use industry, the market has been segregated into plastics and polymers, food and beverage (F&B), inks, paints and coatings, chemicals, pharmaceuticals, and others.
  • On the geographical front, the market has been divided into North India, West and Central India, South India, and East India.
  • The competitive landscape of the market has been studied in the report, with the detailed profiles of the major players operating in the industry.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units Million Tons
Segment Coverage Application, End Use Industry, Region
Region Covered North India, West and Central India, South India, East India
Customization Scope 10% Free Customization
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India Acetic Acid Market to Reach 2.0 Million Tons by 2032, Impelled by Multifarious Applications in Various Industries
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