The Acetic Acid market share is projected to reach US$ 17,217.2 million in 2032. The widespread use of acetic acid in the manufacturing of many products, including vinyl acetate monomers and pure terephthalate acid, is expected to drive market growth throughout the assessment period.
According to FMI, the Acetic Acid market is estimated to be valued at US$ 10,175.5 million in 2022 and is projected to increase at a CAGR of 5.4% in the forecast period from 2022 to 2032.
| Attributes | Details |
|---|---|
| Market Size (2021) | USD 9,756.0 Million |
| Market Size 2022 | USD 10,175.5 Million |
| Market Size 2032 | USD 17,217.2 Million |
| Value CAGR (2022 to 2032) | 5.4% |
Acetic acid is also known as ethanoic acid. It is a white liquid with a distinct and powerful pungent odour. Acetic acid is a critical metabolic intermediary found in plant juices and bodily fluids. Acetic acid is frequently employed as a solvent in the production of polyester fibres, synthetic fibres, and resins.
Global demand for acetic acid is predicted to rise as end-use sectors such as plastics, textiles, and chemicals expand. Furthermore, the replacement of PET bottles with glass bottles for alcoholic beverages is expected to stimulate demand for terephthalic acid, benefiting the acetic acid sector throughout the projection years.
The analysis of Acetic Acid demand from 2017 to 2021 showed a historical growth rate of less than 4.3% CAGR. The COVID-19 outbreak disrupted many economies and had a significant impact on the supply chain across industries. Acetic acid's production and use are heavily reliant on demand from end-use industries. As a result, inconsistency in demand for end-use sectors had a detrimental impact on acetic acid demand.
Production activity in significant markets has resumed since infection curves began to flatten starting in 2022. The demand for Acetic Acid is therefore expected to grow at a CAGR of 5.4% through 2032, according to the FMI projection. Increased end-use consumption is anticipated to boost sales during the anticipated period.
The importance of acetic acid as a building block in the manufacture of different chemicals, as well as its use in various sectors such as rubber, plastic, ink, and textile, are driving the market's expansion. Over the forecast years, increased demand for acetic acid is predicted to be driven by rising expansion in end-use sectors such as textiles, plastics, and chemicals around the world.
Vinyl acetate monomer (VAM) is utilized to make adhesives, water-based paints, waterproof coatings, and coatings for paper and paperboard. In 2021, the vinyl acetate monomer application sector held a market share of more than 40%. Its large percentage is due to rising demand for coatings and paints paper coatings, and printed goods, all of which drive sales for vinyl acetate monomer.
Acetic acid is a key raw material in the synthesis of vinyl acetate monomer, which is then used to make polyvinyl acetate. Polyvinyl acetate is also utilized in the production of paints and coatings. Improvements in consumer lifestyles, as well as an increase in home renovations and redecorating, are driving demand for paints and coatings, which has a direct impact on demand for vinyl acetate monomer.
East Asia is the world's largest consumer of acetic acid. Because of its strong industrial basis, East Asia is expected to be the greatest market for the textile sector. Acetic acid is frequently used in the manufacture of, polyesters, coatings, greases, and sealants, all of which have diverse applications in industries such as textiles, electronics, automobiles, and packaging. The rapid expansion of these industries is one of the primary drivers driving market growth in East Asia.
China is the leading chemical exporter and producer in the Asia-Pacific region and globally. The increased demand from the Chinese chemical industry, together with population expansion, is the primary reason driving up output. Chemicals manufactured in China have been exported to over 100 nations and areas throughout the world.
With increasing global demand for various chemicals, the demand for intermediates such as acetic acid from different sectors is predicted to rise significantly over the forecast period.
Key players operating in the Acetic Acid market include Celanese Corporation, INEOS, Jiangsu SOPO (Group) Co. Ltd., LyondellBasell Industries Holdings BV, Eastman Chemical Company, SABIC, Mitsubishi Chemical Corporation, DHANLAXMI ORGANICS & CHEMICALS, Gujrat Narmada Valley Fertilizers & Chemicals Limited, MERU CHEM PVT. LTD, Vizag chemical, Airedale Chemical Company Limited, and DAICEL CORPORATION among others.
With the existence of several global competitors, the industry has become extremely competitive. These companies are undertaking several expansion and collaboration projects to increase their product portfolio and quality. Market participants are heavily investing in Research and Development (R&D) and constantly innovating to improve their production efficiency and product quality.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Application, End Use Industry, Region |
| Regions Covered | North America; Latin America ;Europe; East Asia; South Asia & Pacific; The Middle East and Africa |
| Key Countries Covered | The USA, Canada, Mexico, Brazil, Germany, The United Kingdom, France, Italy, Spain, Russia, China, Japan, India, ASIAN, Australia and New Zealand, GCC Countries, Turkey, South Africa, Northern Africa |
| Key Companies Profiled | Celanese Corporation; INEOS; Jiangsu SOPO (Group) Co. Ltd; LyondellBasell Industries Holdings BV; Eastman Chemical Company; SABIC; Mitsubishi Chemical Corporation; DHANLAXMI ORGANICS & CHEMICALS; Gujrat Narmada Valley Fertilizers & Chemicals Limited; MERU CHEM PVT. LTD; Vizag chemical; Airedale Chemical Company Limited; DAICEL CORPORATION |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Acetic Acid market reached over US$ 9,756.0 million.
During the forecast period, the Acetic Acid market is estimated to expand at a CAGR of 5.4% from 2022 to 2032.
The Acetic Acid market is projected to reach US$ 17,217.2 million by the end of 2032.
China is projected to lead the Acetic Acid market in the forecast period.
Key players operating in the Acetic Acid market include Celanese Corporation, INEOS, Jiangsu SOPO (Group) Co. Ltd., LyondellBasell Industries Holdings BV, Eastman Chemical Company, SABIC, Mitsubishi Chemical Corporation, DHANLAXMI ORGANICS & CHEMICALS, Gujrat Narmada Valley Fertilizers & Chemicals Limited, MERU CHEM PVT. LTD, Vizag chemical, Airedale Chemical Company Limited, and DAICEL CORPORATION among others
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