The new report by Expert Market Research titled, ‘Global Acetic Acid Market Size, Share, Price Trends, Industry Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global acetic acid market, assessing the market based on its segments like application, end-use industries, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2015-2025)
1. Historical Market Size (2019): USD 8.6 billion
2. Forecast CAGR (2020-2025): 5.75%
3. Forecast Market Size (2025): USD 12 billion
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Acetic acid has numerous applications in pharmaceuticals, construction, water treatment, rubber, and plastics. It is the main ingredient in vinegar, which is a common household item. Due to the growth of its end-use industries, the acetic acid industry is expected to witness an increase in capacity during the forecast period (2020-2025). The most common application of acetic acid is in the production of vinyl acetate monomer (VAM). VAM is used in the synthesis of a large variety of polymers and resins, which are used in making adhesives, coatings, paints etc. Thus, the growth in these industries is expected to drive the growth of the global acetic acid market.
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Industry Definition and Major Segments
Acetic acid, also known as ethanoic acid (CH3COOH), appears as a colourless liquid with a sour taste and pungent smell. The industrial production of acetic is done both synthetically and biologically via bacterial fermentation. 75% of the acetic acid production is undertaken by the carbonylation of methanol. Only 10% of acetic acid is produced biologically but is gaining importance and is often required by food laws for the production of vinegar.
Based on application, the industry can be segmented into:
1. Vinyl Acetate Monomer (VAM)
2. Purified Terephthalic Acid (PTA)
4. Ethyl Acetate
5. Butyl Acetate
By end-use, the market is divided into:
1. Plastics and Polymers
2. Food and Beverages
3. Inks, Paints, and Coatings
Regionally, the market is segmented into:
2. North America
3. Western/Eastern Europe
4. North East Asia
5. South East Asia
6. Middle East and Africa
Vinyl acetate monomer (VAM), the chief end-use product of acetic acid, is used to make polyvinyl acetate (PVA), which is very commonly used in the manufacture of adhesives. Another common derivative of VAM is polyvinyl alcohol (PVOH), which is used for textiles and adhesives, as well as in the production of protective coatings for packaging and laminates. The growth of the adhesives industry in the Asia Pacific and the expansion of e-commerce in India has led to an increase in the demand for both these products, which account for a majority of the VAM use.
Key Market Players
The major players in the market are British Petroleum, Celanese, Jiangsu Sopo, and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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