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World Acetic Acid Market - Opportunities and Forecasts, 2021-2028
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Request Now !Acetic acid acid is a colorless liquid with strong and pungent smell, which is also known as ethanoic acid or methanecarboxylic. Approximately 75% of the acetic acid is produced synthetically by carbonylation of methanol and this process. However, acetic acid can also be produced by bacterial fermentation and accounts for only about 10% of world production. This biological route of acetic acid production is majorly used for vinegar production due to food purity laws, which stipulate to use vinegar of biological origin. Its main applications includes production of chemical compounds such as vinyl acetate monomer, acetic anhydride, and ester production. Products of commercial importance made from acetic acid are latex emulsion resins for paints, adhesives, paper coatings, textile finishing agents, cellulose acetate fibers, cigarette filter tow, and cellulosic plastics.
The world acetic acid market is expected to register substantial growth during the forecast period due to its extensive application in the production of vinyl acetate monomer (VAM) and terephthalic acid (TPA). VAM, used in paints and adhesives consumes approximately 40% to 45% of the worlds acetic acid produced. TPA on the other hand uses acetic acid to manufacture polyethylene terephthalate (PET) plastic bottles for carbonated drinks and resins. Besides this, acetic acid is also used in the food industry and household items as a preservative. Thus, the high demand for acetic acid in VAM & TPA production and food industry would bolster the acetic acid market growth. However, environmental concerns such as non-biodegradability and emission of harmful elements such as aerosols into the environment can restrain the growth of acetic acid in VAM and TPA production.
The report segments acetic acid market on the basis of manufacturing processes, application, and geography. On the basis of manufacturing processes, the market is segmented into synthetic and biological route. According to application, it is classified into vinyl acetate monomer, terephthalic acid, acetic anhydride, acetate esters and Ketene, monochloroacetic, Textiles, dimethylacetamide and others. The geographic breakdown for the report includes for North America, Europe, Asia-Pacific, and LAMEA.
The global acetic acid market has presence of numerous manufacturers that are adopting next generation technologies to bring innovation in the production techniques of acetic acid. Key players are also adopting mergers & acquisitions to expand their presence in global acetic acid market. For instance, Saudi International Petrochemical Company has planned to acquire equities in various companies such as International Acetyl Company Ikarus Petroleum Industries Company, and International Vinyl Acetate Company in June 2015. Comprehensive competitive analysis and profiles of major market players such as Hoechst, Walker Chemie, BASF, Huls, BP Chemicals, Montedison, Nippon Gosei Kagaku and Showa Acetly Chemical, Celanese, and Union Carbide Corporation is also provided in this report.
KEY BENEFITS FOR STAKEHOLDERS:
- In-depth analysis for the key market segments has been done in this report by making market estimations between 2015 and 2022.
- Competitive landscape and value chain are modelled for better understanding of competitive environment across the geographies.
- The projections in this report are made by analysing the current trends and future market potential from 2015 to 2022, which help to explore current and future market potential.
- Geographically, the acetic acid market is systematically analyzed based on various regions such as North America, Europe, Asia-Pacific, and LAMEA.
- SWOT analysis highlights the internal environment of the leading companies for effective strategy formulation.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- Key market players within the acetic acid market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of world acetic acid market
ACETIC ACID MARKET KEY SEGMENTS:
World acetic acid market - by Manufacturing Process
- Synthetic route
- Methanol carbonylation
- Oxidation of hydrocarbons
- Paraffin oxidation
- Olefin oxidation
- Terephthalic/isophthalic acid coproduct
- Biological route
World acetic acid market - by Application
- Vinyl acetate monomer
- Terephthalic acid
- Acetic anhydride
- Acetate esters
- Ketene
- Monochloroacetic,
- Textiles
- Dimethylacetamide
- Others
World acetic acid market - by Geography
- North America
- Canada
- United States
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Others
- Asia-Pacific
- China
- Japan
- India
- Australia
- Others
- LAMEA
- Latin America
- The Middle East
- Africa
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