Global AceticAcid 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 report by Grand View Research : http://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: http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
For the purpose of this
study, 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
o
U.S.
·
Europe
o
Germany
o
China
·
Asia Pacific (excluding China)
o
India
o
Japan
·
Latin America
o
Brazil
·
MEA
Access press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-acetic-acid-market-analysis
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.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment