The Global Acetic Acid Market was at XX.XX kilo metric tons in 2015 and is projected to reach 16,155.09 kilo metric tons by 2020, at a CAGR of 4.9% during the forecast period from 2015 to 2020. Asia-Pacific is the largest consumer of acetic acid in the market, and is responsible for the consumption of 60.0% of the total global demand, as of 2015.
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This is followed by North America with a considerable demand. China is the biggest consumer and is also among the fastest-growing markets, at an estimated CAGR of 5.6% during the given forecast period.
The European and North American markets are comparatively mature with a demand growth below the average market growth.
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It is a key building block to manufacture various chemicals, such as vinyl acetate monomer (VAM), purified terephthalic acid (PTA), acetate esters, and acetic anhydride that are further used by a wide range of end-user industries, such as synthetic fibers, textiles, inks, and pesticides.
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The global acetic acid market is segmented on the basis of application into vinyl acetate monomer, purified terephthalic acid, acetate esters, acetic anhydride, and others. On the basis of geography, the market has been segmented into Asia-Pacific (China, India, Japan, South Korea, Rest of APAC), North America (United States, Canada, Mexico, Rest of North America), Europe (Germany, United Kingdom, Italy, France, Rest of Europe), South America (Brazil, Argentina, Rest of South America), and Middle-East & Africa (Saudi Arabia, South Africa, Rest of MEA).
Vinyl acetate monomer (VAM) was the largest application segment for the market, which accounted for 32.0% of the global acetic acid consumption in 2015. Consumption of acetic acid in the manufacturing of VAM generated revenue of over USD 2,000.0 million in 2015 and was primarily driven by the demand for VAM in the adhesive and sealant industry.
The acetate esters segment is expected to be the strongest growth segment of the market, which is primarily driven by the growing demand from the coatings industry.
Among all the acetic acid derivatives, VAM led the market with the highest global consumption of more than 5.0 million tons, followed by ester solvents with a total global consumption of around XX.XX million tons in 2015. In addition, acetic acid has niche applications, such as the development of photographic films, household descaling agent, lysing of RBC (red blood cells), food preservatives, and synthesis of metal acetate.
Owing to the increasing number of applications over the past few decades, the scope of this market is expected to increase manifold in the coming years.
Acetic acid is the main feedstock to manufacture vinyl acetate monomer, which was at the forefront in terms of volumetric consumption in 2012. It is mainly driven by the growing demand of polyvinyl acetates and vinyl alcohols, which, in turn, are accelerating the demand for acetic acid.
VAM is a key raw material in the manufacturing of water-based adhesives, which accounts for close to 54.0% of the global adhesives and sealants market and the increasing demand from Asia Pacific is expected to boost the demand for acetic acid over the forecast period. However, environmental concerns represent one of the major factors influencing the market for acetic acid and will restrain the growth of the studied market.
Adoption of innovative and path-breaking technologies is providing a competitive edge to the companies to enhance their profit margins vis-a-vis competitors. Accordingly, manufacturers of acetic acid are increasingly adopting these technologies over age-old technologies, such as low-water technology.
The major companies profiled in the global acetic acid market report include BP Plc., Celanese Corporation, Eastman Chemical Company, PetroChina, Daicel Corporation, LyondellBasell Industries N.V., Sasol, SABIC, Jiangsu Sopo Co. Ltd., and Kingboard Chemical Holdings Ltd. among others.
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Key Deliverables in the Study
Market analysis for the Global Acetic Acid Market, with region-specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global acetic acid market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
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