Enjoy complimentary customisation on priority with our Enterprise License!
The Acetic Acid Market size is estimated to grow by 5,379.71 thousand tons at a CAGR of 5.39% between 2023 and 2027. Market growth hinges on several factors, including the expansion of the paints and coatings sector, the growing textile industry, and the rising consumption of acetic acid. The paints and coatings industry is experiencing robust growth, driven by increasing construction activities and renovation projects worldwide. Similarly, the textile sector is witnessing significant expansion, fueled by changing fashion trends and a growing population. Additionally, the rising demand for acetic acid, a key chemical used in various industries, including textiles, plastics, and pharmaceuticals, is contributing to market growth. These factors collectively indicate a promising outlook for the market, highlighting the importance of these industries in driving economic development and meeting consumer needs.
This Acetic Acid market report extensively covers market segmentation by application (VAM, PTA, acetic anhydride, and others), end-user (plastics and polymers, food and beverages, ink paints and coatings, chemicals, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market share growth by the VAM segment will be significant during the forecast period. The majority of organic solvents, including chlorinated solvents, are soluble in VAM, a colorless, volatile, and flammable mobile liquid. It serves as a chemical building block for both commercial and consumer goods. It is created by an ethylene and acetic acid catalytic vapor-phase reaction. With acrylic monomers like vinyl acetate emulsion (VAE) copolymers, ethylene vinyl alcohol (EVOH), polyvinyl alcohol, polyvinyl acetate, and ethylene vinyl acetate (EVA), VAM is frequently used as a co-monomer.
Get a glance at the market contribution of the End User segment Request Free Sample
The VAM segment was valued at 5,383.55 thousand tons in 2017. Numerous products, such as printing inks, water-based paints, ceramic, lacquer, adhesives for packaging and construction, paper finishing, and protective colloids for various materials, use polymers produced using VAM. Textile fibers, paper coatings, and inks are some additional goods. Such elements will raise the demand for VAM, which will then fuel the segment's expansion in the global market during the forecast period.
Based on end-users, the market is fragmented into plastics and polymers, food and beverages, ink paints and coatings, chemicals, and others. The plastics and polymers segment holds the largest market share. The demand for plastics and polymers is on the rise due to their widespread use in various industries. As a result, the demand for acetic acid as a raw material to produce these materials is also increasing, which, in turn, will drive the growth of the global acetic acid market during the forecast period.
APAC is estimated to contribute 30% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions, Request Free Sample
APAC is expected to account for the largest share of the market during the forecast period because of the increasing demand for acetic acid in various industries. Acetic acid and its derivatives, such as cellulose acetate, are used in pharmaceuticals, polymers, and the food packaging, plastics, and apparel industries. The use of PTA and acetic anhydride in various applications is likely to drive the demand for acetic acid in the region during the forecast period. China and India are the key consumers of acetic anhydride in APAC. Increased cigarette consumption is likely to increase the production of cellulose acetate (which is used for producing cigarette filters) in these countries during the forecast period. China is one of the key countries in the paints and coatings sector in terms of consumption. VAM is used in the paints and coatings sector. Thus, the growing paints and coatings sector in China, Thailand, Malaysia, and Vietnam will drive the demand for acetic acid in the region during the forecast period.
Acetic acid is a pungent, colorless liquid and is a major constituent of vinegar. It is an essential component for manufacturing a wide range of chemical products, which are used in numerous industries, including plastics, textiles, and insecticides.
The market is driven by diverse applications, including the production of PET bottles, glass bottles, and alcoholic beverages. Terephthalic acid, derived from acetic acid, is crucial for manufacturing polyester, highlighting the market's importance for multinational players. Joint venturing is common to leverage resources and expertise. Adherence to excellent manufacturing practices ensures the production of high-quality, food-grade acetic acid, compliant with the Food Chemicals Codex. Acetic acid is also used in the production of vinyl acetate monomer for paints and coatings, as well as in medicines like aspirin. Its role in wood preservation, as acetate esters and purified terephthalic acid, underscores its versatility. Ethyl acetate, a derivative, serves as a diluent and solvent, prized for its low toxicity and cost-effectiveness, also finding use in perfumes and pharmaceuticals like aspirin. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The growing textile industry is the factor driving the market growth. The textile industry is a major consumer of acetic acid and its derivatives, primarily because acetic acid is crucial in producing cellulose acetate, a versatile polymer widely used in textile manufacturing for creating fibers, yarns, and fabrics. The market is significantly influenced by the rising demand for textiles, especially in emerging economies like China, India, and Southeast Asia. The increased demand for cellulose acetate fibers, which are employed in making various textiles such as apparel, home furnishings, and industrial fabrics, is directly propelling the need for acetic acid as a key raw material. Consequently, the market is expected to grow during the forecast period due to this surging demand.
Increasing demand for VAM is a key trend shaping the market. The increasing demand for VAM will have a positive influence on the global acetic acid market during the forecast period. VAM accounted for a 31% share of the global acetic acid market in 2021, and the increased demand for VAM will increase the consumption of acetic acid. VAM is used in many applications, such as photovoltaic components, resins for the coatings industry, hot metal adhesives, waxes and resins, and the packaging industry. The coating, construction, automotive, and furniture industries are expected to be the key users of VAM.
Celanese is one of the major manufacturers of VAM and accounted for a 33% share of the VAM in 2021. Dairen, DowDuPont, and Kuraray America are the other major companies. Thus, the increasing demand for VAM is expected to drive the growth of the market during the forecast period.
Cellulose acetate flakes, vital for manufacturing cellulose tow filters used in conventional cigarettes, hold a considerable share (58%-61%) in the market. Consequently, the growth of the market is hindered by the increasing popularity of electronic cigarettes. Governments and regulatory bodies are closely monitoring the domestic and international markets for e-cigarettes due to the uncertainty regarding their long-term effects. As the USAge of conventional cigarettes diminishes with the rise of e-cigarettes, the market is expected to be impacted during the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Pentokey- The company offers acetic acid which is used in several industrial sectors such as food and beverages, chemical, pharmaceutical, textile, polymer and paints.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Airedale Chemical Co. Ltd., Ashok Alco Chem Ltd., BP Plc, Celanese Corp., Daicel Corp., DubiChem Marine International, Eastman Chemical Co., GNFC Ltd., HELM AG, Indian Oil Corp. Ltd., INEOS Group Holdings SA, Jiangsu Sopo Corp. Ltd., Kingboard Holdings Ltd., Lonza Group Ltd., LyondellBasell Industries NV, Pentokey Organy (India) Ltd., Saudi Basic Industries Corp., Shandong Hualu Hengsheng Chemical Co. Ltd., Shanghai Huayi Fine Chemical Co. Ltd., and Dow Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Acetic Acid market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "Thousand tons" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
The Acetic Acid market is influenced by various industries, including paints & coatings, printed products, and automobiles, where it is used in polyester coatings and coil coatings. In the healthcare sector, acetic acid is used in the production of medicines like aspirin, which are in high demand due to the large number of patients with conditions such as diabetes and cardiovascular disease. The market is also driven by consumer lifestyles and trends like house renovations and redecorations. Additionally, acetic acid is a key component in the production of vinyl acetate monomer (VAM), which has various applications in industries such as printing inks and coated materials.
Furthermore, the market is driven by diverse industries and applications. It is a crucial component in redecorations and photographic films, providing essential properties such as low toxicity and cost-effectiveness. In the pharmaceutical sector, acetic acid is used in the production of aspirin and other medicines, responding to the rising demand due to increasing life expectancy and healthcare needs. It is also a key ingredient in the production of vinyl acetate monomer (VAM), which finds extensive use in the printing inks industry. Additionally, acetic acid is utilized in the manufacturing of ester solvents, butyl acetate, and greases, as well as in the production of polyesters and sealants, contributing to its widespread application across industries. Medicines (aspirin) is favored for its low toxicity and Low cost.
Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.39% |
Market growth 2023-2027 |
5379.71 th t |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.13 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 30% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Airedale Chemical Co. Ltd., Ashok Alco Chem Ltd., BP Plc, Celanese Corp., Daicel Corp., DubiChem Marine International, Eastman Chemical Co., GNFC Ltd., HELM AG, Indian Oil Corp. Ltd., INEOS Group Holdings SA, Jiangsu Sopo Corp. Ltd., Kingboard Holdings Ltd., Lonza Group Ltd., LyondellBasell Industries NV, Pentokey Organy (India) Ltd., Saudi Basic Industries Corp., Shandong Hualu Hengsheng Chemical Co. Ltd., Shanghai Huayi Fine Chemical Co. Ltd., and Dow Inc. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.