The global acetic acid market is forecast to reach USD 11.27 Billion by 2030, according to a new report by Reports and Data. The growing use of acetic acid in the production of different products such as purified terephthalate acid and vinyl acetate monomers (VAM) is expected to boost the market size of acetic acid during the forecast period.
Acetic acid is used to produce VAM, which is, in turn, is used to manufacture various resins and polymers for adhesives, films, paints, coatings, textiles, and other end-user products. Polyvinyl Alcohol (PVOH) and Polyvinyl acetate (PVA) are the major derivatives manufactured using Vinyl Acetate Monomers (VAM). PVA is significantly employed in adhesives, textiles, photosensitive coatings, packaging films, and thickeners, whereas PVOH finds its applications in paper coatings, industrial coatings, and paints owing to their ideal adhesion properties.
The growing investments in infrastructure across the globe are expected to propel the demand for coatings and sealants, which in turn, positively contribute towards the growth of the acetic acid. Furthermore, the rising application of acetic acid in the manufacture of terephthalic acid is also anticipated to drive the market during the forecast period.
Asia-Pacific dominates the market for acetic acid in the global market. The region is anticipated to be the largest market for the textile industry, owing to the strong industrial base. Increase in population and improving economic conditions are also driving the market in the region. China is the largest market for acetic acid worldwide. The country accounted for approximately more than 30% of the global consumption.
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Key participants include Mitsubishi Chemical Corporation, Sinopec, Wacker Chemie, GNFC Limited, Saudi International Petrochemicals, DuPont, Eastman Chemical Company, Daicel Corporation, Jiangsu Sopo (Group), and LyondellBasell, among others.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the global Acetic Acid market on the basis of form, manufacturing process, application, end-users, and region:
Derivative Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
End-Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Regional Outlook (Revenue, USD Billion; 2019-2030)
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Key questions covered in the global Acetic Acid market report:
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