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- North America Acetic Acid Market
North America Acetic Acid Market to Grow at 6.53% During 2022-2027, Propelled by the Rising Construction Activities
August 08, 2022
The latest report by IMARC Group, titled “North America Acetic Acid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, finds that the North America acetic acid market is expected to grow at a CGAR of 6.53% during 2022-2027. Acetic acid (CH3 COOH), also known as ethanoic acid, is an organic compound containing two carbons. It is a clear, colorless liquid possessing a strong, pungent odor. It can be obtained through carbonylation of methanol, oxidation of acetaldehyde and ethylene, and bacterial fermentation. It is used as a chemical reagent in the production of vinyl acetate monomers (VAMs), esters, and acetic anhydride. It is extensively used in manufacturing pesticides, wood glues, synthetic fibers, and inks and dyes. In recent years, acetic acid has gained traction due to its widespread application as a pH regulator in the textile industry, an acidity regulator in the food industry, and a solvent in the pharmaceutical industry.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
North America Acetic Acid Market Trends:
One of the primary factors driving the market is the extensive utilization of acetic acid in numerous industries. For instance, it is employed in the production of sealants and adhesives used in the automotive industry. Additionally, an increase in the number of construction activities due to the rapidly growing population is boosting the demand for acetic acid and its derivatives as it is utilized in various construction products such as thinners, glues, and paints, thus creating a positive market outlook. Besides this, the widespread application of acetic acid for the early hydration of off-white Portland cement in North America is strengthening the market growth. Furthermore, its utilization in preparing vinegar that is used in various cuisines is propelling the market growth. Moreover, the adoption of new technologies, such as BP’s Cativa and Celanese’s AO-plus (Acid Optimization Plus), has resulted in increased production efficiency of acetic acid with reduced variable costs and lower capital costs for the construction of new plants.
Market Summary:
- Based on the application, the market has been segmented into VAM, PTA, anhydride, ethyl acetate, butyl acetate, and others. At present, VAM is the largest application segment.
- On the basis of the end-use industry, inks, paints and coatings account for the majority of the overall market share. Other major segments include plastics and polymers, food and beverages, chemicals, pharmaceuticals, and others.
- Based on the country, the market has been divided into the United States and Canada. The United States holds the leading position in the market.
- The competitive landscape of the market has also been analyzed, along with the profiles of the key players operating in the market.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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