Global acetic
acid market is expected to reach USD 13.31 billion by 2022,
according to a new study by Grand View Research, Inc. Increasing consumption of
PTA for manufacturing polyester coupled with rising application scope of
polyester in the textile industry is likely to fuel acetic acid market growth
over the next seven years. Growing demand for VAM which is used as a precursor
for manufacturing EVA and EVAc coupled with an increasing consumption of these
downstream chemicals in the formulation of solvents and adhesives is expected
to drive acetic acid market. Acetic acid is also used as a key ingredient in
vinegar. Rising demand for vinegar owing to numerous health benefits associated
with it is expected to augment market growth over the forecast period.
Acetic acid demand for manufacturing VAM exceeded
3,600 kilo tons in 2014 and the segment is projected to grow at a CAGR of over
4% from 2015 to 2022. Vinyl acetate monomer (VAM) is used in production of
various adhesives and water based paints. Rising demand for industrial coatings
and paints on account of growing infrastructure, specifically in emerging
economies including China, Brazil and India, is a key factor for the growth of
(VAM) over the forecast period.
Browse full research report on Acetic Acid Market: https://www.grandviewresearch.com/industry-analysis/acetic-acid-market
Further
key findings from the study suggest:
- China was the largest market for acetic acid in 2014 alone
accounting for over 40% of the global volume demand. Presence of a robust
manufacturing hub in the region has been one of the primary factors for
the high demand of acetic acid over the past few years. In addition,
positive outlook regarding expansion of the manufacturing industry in the
region is expected to maintain dominance of China within the global acetic
acid market over the forecast period.
- Asia Pacific was the second largest market for acetic acid, with
India and Japan dominating the regional market. Asia acetic acid market is
projected to grow at a CAGR of over 10.0% over the forecast period and is
estimated to reach a value of over USD 3.0 billion by 2022.
- PTA is expected to be the fastest growing application segment
within the global acetic acid market, owing to the increasing demand for
polyester from the textile and packaging end-use industries. Global acetic
acid demand for PTA exceeded 2,500 kilo tons in 2014 and is expected to be
over 3,800 kilo tons by 2020, growing at a CAGR of over 5.0% from 2015 and
2022.
- Key players present in the global acetic acid market include
Celanese, Jiangsu Sopo (Group) Co., BP, Eastman Chemicals, DuPont, BASF
and Wacker Chemie. The market is highly fragmented in nature owing to the
presence of numerous manufacturers with various scales of production
capacities.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
Grand
View Research has segmented the global acetic acid market on the basis of
application and region:
Global
Acetic Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012
- 2022)
- VAM
- Acetic
anhydride
- Acetate
esters
- PTA
- Others
Global
Acetic Acid Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 -
2022)
- North America
- U.S.
- Europe
- Germany
- China
- Asia Pacific
(excluding China)
- India
- Japan
- Latin America
- Brazil
- MEA
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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