Global Acetic Acid Market by Application (Ethanol, Vinyl Acetate Monomer, Acetate Esters, Purified Terephthalic Acid) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global acetic acid market was valued at USD 8.92 Billion in 2019. It is projected to grow at a compound annual rate (CAGR of 5.2%) between 2020 and 2027. The market's growth will be driven by rising demand from Vinyl Acetate Monmer (VAM), producers around the world. VAM uses the majority of the world's acetic acid. VAM is made by reacting acetic with oxygen and ethylene with a palladium catalyst. This is usually done in the gas phase. Vinyl acetate monomer is used in paint and coating formulations. VAM can be polymerized to make polyvinyl-acetate or other polymers, which are important ingredients in the paints industry.

Acetic acid, in its dilute form, is often used in household applications as a descaling agent. However, in the industrial sector it is widely utilized as a key chemical reagent that is used to make cellulose acetate. It is also used in the food industry as an acidity regulator and condiment. Each year, 1.5 million tons of the acid are recycled. The rest is made from methanol. Hydrophilic means that the liquid acid can be used in a variety of applications.

The largest global producers of the chemical are British Petroleum Chemicals (BP Chemicals) and Celanese Corporation (CEN). It can be produced commercially using both bacterial fermentation or a synthetic method. The biological production method is responsible for approximately 10% of global production.

Multinationals such as Celanese Corporation are developing new technology to create new product lines that can be accessed by a wider market. The most widely used production methods for acetic acids include acetaldehyde carbonylation and ethylene oxidation.

Harmonized classification and labeling by the European Chemicals Agency (ECHA), has classified this substance as dangerous to human health. It causes severe eye damage and skin burns. The U.S. Environmental Protection Agency, (EPA) has deemed the substance safe for use as a food ingredient within the permissible limits outlined by the agency under 184.1 of good manufacturing practices.

Application Insights

Vinyl acetate monomer applications dominated the acetic acids market in terms of volume with a 35.5% share in 2019. The large demand from the rapidly expanding industrial and cosmetics manufacturing industries around the world for vinyl acetate monomer application is responsible for this dominance in terms of volume. VAM is a colorless liquid with a pungent smell. It is best stored in reconditioned steel drums. It is usually transported in bulk containers and tank trucks. Vinyl acetate monomer should be stored dry and away from fire hazards.

VAM's main function is to produce polyvinyl alcohol, and polyvinylcetate. This cumulatively accounts more than 80% global usage. Water-soluble packaging, coatings and adhesives are the most common uses of polyvinyl alcohol. Additionally, polyvinyl alcohol is used in textile treatment, adhesives paints, and paper coats around the world.

PTA is primarily used to make polyester coating resins for automotive, appliances and other general metal applications. One of the world's largest producers of PTA is Eastman Corporation. It can also be used in fiberglass reinforced plastics made from unsaturated polyesters. PTA has many key attributes, including excellent stain and chemical resistance and weathering, excellent temperature range for glass transition and good flexibility balance.

The chemical can also be used to make acetic anhydride and acetate esters. Acetate ester is being used more frequently in printing inks, adhesives, sealant space and other applications. It is primarily used as a solvent. Acetic anhydride is used mainly for oil spill cleanup, synthesizing and acetylation salicylic acid, and wood preservation applications.

Regional Insights

Asia Pacific was the dominant market, accounting for 62.0% global revenue in 2019. This can be attributed to the growing penetration of polymer formulators within the region. Acetic acid is used in a variety of industries in India, Japan, China. Increasing mergers and acquisitions are driving high construction activity in the region. The region has hosted a variety of multinational businesses from all industries and has seen multiple expansion projects in manufacturing.

The Asia Pacific region saw stable prices for plastics, polymers, despite trade tensions between China and the U.S. There were more developing industries in countries like China, Japan, India and Japan which led to an increase in demand for plastics. The PTA demand showed a significant increase over the last decade, which is directly related to the growing consumption of Acetic Acid in the region.

With a turnover of USD 1,194 trillion, the European region saw significant growth in the food and beverage industry. It is the largest European Union manufacturing industry, employing more than 4.57 million people. The region has seen a significant increase in demand for acetic acids due to increased food consumption in countries like Germany, France and Italy. The growing food industry has also resulted in a high demand for packaging, which will fuel the demand.

In North America, the market is driven by an increasing demand for and ethanol from a variety of industries. To ensure positive energy balance, more than 90% of the substance in the United States is made from corn grain. The U.S. automotive industry favored E85 gas. This is a mixture of 15% gasoline with 85% ethanol. This will likely increase the consumption of Acetic Acid in the country's ethanol production.

Market Share Insights & Key Companies

Globally, the market is dominated by several key players who are continually focusing on expanding their product lines to reach a wider market. British Petroleum and Celanese Corporation are the largest global manufacturers of the chemical. LyondellBasell and Eastman Chemical Company are two of the most important innovators in this field. They are always striving to improve their production processes in order to achieve greater profitability in a shorter timeframe. High market competition means that there is a lot of competition for product development, quality, pricing, and product placement. The market leader in acetic acid is:

• Eastman Chemical Company

• British Petroleum

• LyondellBasell

• Celanese Corporation

• Gujarat Narmada Valley Fertilizers & Chemicals

• Helm AG

• Pentoky Organy

• Dow Chemicals

• Indian Oil Corporation

Up Market Research published a new report titled “Acetic Acid Market research report which is segmented by Application (Ethanol, Vinyl Acetate Monomer, Acetate Esters, Purified Terephthalic Acid), By Players/Companies Helm AG, British Petroleum, Eastman Chemical Company, Pentoky Organy, LyondellBasell, Dow Chemicals, Celanese Corporation, Indian Oil Corporation, Gujarat Narmada Valley Fertilizers & Chemicals”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Acetic Acid Market Report Segments:

The market is segmented by Application (Ethanol, Vinyl Acetate Monomer, Acetate Esters, Purified Terephthalic Acid).

Acetic Acid Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Acetic Acid Market

Overview of the regional outlook of the Acetic Acid Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Acetic Acid Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Acetic Acid Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Ethanol

                2. Vinyl Acetate Monomer

                3. Acetate Esters

                4. Purified Terephthalic Acid

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Acetic Acid Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
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• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Acetic Acid Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.