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.
Full Research Report on Global Acetic Acid Market
Analysis:
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.
View more reports of this category by Grand View Research
at: 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
- U.S.
- Europe
- Germany
- China
- Asia Pacific (excluding China)
- India
- Japan
- Latin America
- Brazil
- MEA
View Press Release Of this research report by Grand View
Research:
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: www.grandviewresearch.com
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