Acetic Acid Market Size & Growth Analysis to 2030

The global acetic acid market has been projected to grow at the CAGR of 5.25% market during 2020-2027. In 2019, the market has generated a revenue of around $ 9 billion and is expected to reach $ 13 billion in terms of revenue by 2027. Acetic acid, also known as ethanoic acid, is a synthetic carboxylic acid with antibacterial and antifungal properties. The chemical is used in a variety of applications that include agricultural chemicals, pigments, and paint adhesives, as solvents, plasticizers, corrosion inhibitors, adhesive chemicals, paper products, water treatment products, and others.

Market Insights:

Growing demand for vinyl acetate monomer (VAM) coupled with increasing demand for purified terephthalic acid (PTA) and ethyl acetate are the major factors driving the global market for acetic acid. In addition, the growing proliferation of the textile & packaging industry, burgeoning demand from the Asia Pacific, and rising use of ester solvents in the paints & coating industry due to growing infrastructure, specifically in emerging economies are further driving the growth of the acetic acid market. Production of acetic acid from bio-based ethanol having less impact on the environment and climate will also provide a bright future to the growth of the acetic acid market. However, a saturation of demand for acetic acid from end-use industries particularly in North America and Europe is the factor hindering the growth of the acetic acid market in the region. Due to the high supply and less demand on account of heavy competition, the market is already running to the maximum extent possible, thus restraining the further growth in North America and Europe.

Market Segment Insights:

The application segments covered in the study include vinyl acetate monomer (VAM), purified terephthalic acid (PTA), acetate esters and acetic anhydride, and others. Vinyl acetate monomer is the largest application segment for acetic acid. It accounted for a 33% share of the market in 2019 in terms of volume and revenue. The market is mainly driven by huge demand for VAM from the adhesive and sealant industry. The acetate Esters segment is projected to be the highest growth segment of the market, which is primarily driven by the growing demand from the coatings industry. Subsequently, the budding textile and packaging industry is pushing the demand for PTA, which in turn is driving the demand for acetic acid at a notable pace.

Global Acetic Acid Market Segmentation:

By Application, 2018–2027 (Kilo Tons) ($ Millon)

• Vinyl Acetate Monomer
• Purified Terephthalic Acid (PTA)
• Acetate Esters And Acetic Anhydride
• Others

By Geography, 2018-2027 ($ Millon)

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • Singapore
  • South Korea
  • Rest of Asia Pacific
• Latin America (LATAM)
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa (MEA)
  • GCC
  • Rest of Middle East and Africa

Regional Insights:

Globally, Asia-Pacific is the largest market, and all of its downstream derivatives, which consumed more than 60% of the overall global consumption in 2019. In the Asia Pacific, China accounts for more than 35% share of the market. The country consumed the maximum volume of this product in 2016. The market volume of acetic acid and its various byproducts is relatively low in the ROW region but is estimated to grow at the highest CAGR from 2020 to 2027, followed by the Asia-Pacific region. North America and Europe are comparatively mature markets and are projected to witness average growth rates during the forecast period.

Market Competition Assessment:

The major players currently operating in the global acetic acid market include BASF SE, British Petroleum, Celanese, DuPont, Eastman Chemical Company, LyondellBasell, PetroChina, SABIC, Sasol, and Sinopec

List of Key Companies:

• BASF SE
• British Petroleum
• Celanese
• DuPont
• Eastman Chemical Company
• LyondellBasell
• PetroChina
• SABIC
• Sasol
• Sinopec

Key Questions Answered by Acetic Acid Market Report

• Global acetic acid market forecasts from 2020-2027
• Regional acetic acid market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
• Country level forecasts from 2020-2027 covering 15 major countries from aforementioned regions
• Acetic Acid submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
• Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to acetic acid market
• Analysis of the key factors driving and restraining the growth of the global, regional and country level acetic acid markets from 2020-2027
• Competitive Landscape and market positioning of top 10 players operating in the acetic acid market

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