The global acetic acid market is forecast to reach USD 21.65 Billion by 2027, according to a new report by Reports and Data.

NEW YORK CITY, NY, UNITED STATES, October 20, 2021 /EINPresswire.com/ -- The report analyzes the historical and present-day scenario of the global Acetic Acid market, to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the Acetic Acid market, to identify the opportunistic avenues of the business potential for stakeholders. The growing use of acetic acid in the production of different products such as purified terephthalate acid and vinyl acetate monomers (VAM) is expected to boost the market size of acetic acid during the forecast period.

Acetic acid is used to produce VAM, which is, in turn, is used to manufacture various resins and polymers for adhesives, films, paints, coatings, textiles, and other end-user products. Polyvinyl Alcohol (PVOH) and Polyvinyl acetate (PVA) are the major derivatives manufactured using Vinyl Acetate Monomers (VAM). PVA is significantly employed in adhesives, textiles, photosensitive coatings, packaging films, and thickeners, whereas PVOH finds its applications in paper coatings, industrial coatings, and paints owing to their ideal adhesion properties.

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The growing investments in infrastructure across the globe are expected to propel the demand for coatings and sealants, which in turn, positively contribute towards the growth of the acetic acid. Furthermore, the rising application of acetic acid in the manufacture of terephthalic acid is also anticipated to drive the market during the forecast period.

Asia-Pacific dominates the market for acetic acid in the global market. The region is anticipated to be the largest market for the textile industry, owing to the strong industrial base. Increase in population and improving economic conditions are also driving the market in the region. China is the largest market for acetic acid worldwide. The country accounted for approximately more than 30% of the global consumption.

Key participants include Mitsubishi Chemical Corporation, Sinopec, Wacker Chemie, GNFC Limited, Saudi International Petrochemicals, DuPont, Eastman Chemical Company, Daicel Corporation, Jiangsu Sopo (Group), and LyondellBasell, among others.

Further key findings from the report suggest
Acetic acid is used in the manufacture of bottles and other synthetic materials. It is used in making pigments, dyes, and paint and coating additives. The acid is used in printing on fabric and also used as a cleaning and degreasing solvent.

The textile industry is another major employer of acetic acid for its dyeing operations. Acetic acid is used as a buffering agent in dyeing the cloth with a particular color. The textile industry is flourishing in the context of exploding global population amalgamated with increasing disposable income, augmenting the per-capita consumption of goods, including textiles.

Acetic acid is produced both by bacterial and synthetic fermentation. An approximate amount of 75% of acetic acid used that is used in the chemical industry is manufactured by Methanol Carbonylation.

Carbonylation of methanol to produce acetic acid catalyzed by homogeneous metal complexes is the most successful industrial applications. The process has many benefits such as high yield of the product and high conversion of reactants, but the disadvantages are also apparent, which include the high cost of the catalyst (rhodium) and the severe corrosion to equipment by the cocatalyst iodide.

Increasing investments in healthcare, along with growing concerns towards healthcare, coupled with rising consumption of vinegar, is expected to propel the demand in the European region. The region is forecasted to grow with a CAGR of 5.7% during the forecast period.

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For the purpose of this report, Reports and Data have segmented into the global Acetic Acid market on the basis of form, manufacturing process, application, end-users, and region:
Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Solid

Liquid

Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Biological Route

Synthetic Route

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Acetic anhydride

Monochloroacetic

Textiles

Terephthalic acid

Vinyl acetate monomer

Ketene

Dimethylacetamide

Others

End-Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Food and Beverage

Plastics and Polymers

Chemicals

Inks, Paints, and Coatings

Others

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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

North America

Europe

Asia Pacific

MEA

Latin America

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Tushar Rajput
Reports and Data
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