The global acetic acid market is estimated to garner a revenue of ~USD 11 billion by the end of 2033 by growing at a CAGR of ~6% By 2033

NEW YORK, UNITED STATE, November 17, 2022 /EINPresswire.com/ -- Research Nester published a report titled “Acetic Acid Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global acetic acid market in terms of market segmentation by application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global acetic acid market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e., 2023-2033. The market is segmented by end-user into plastics & polymers, food & beverages, inks, paints, & coatings, chemicals, and pharmaceuticals. Amongst these, the paints and coatings segment is anticipated to garner the largest revenue by the end of 2033 on the back of rising demand for growing automotive, construction, and architecture fields. The sales and leases of new vehicles in the U.S increased to 57,865 in 2019 up from 57,545 in 2018, according to the U.S Bureau of Transportation Statistics.
The global acetic acid market is estimated to garner a revenue of USD 11 billion by the end of 2033, up from a revenue of USD 8 billion in the year 2022. The market growth is estimated to boost on the account of the rising utilization of acetic acid in paints, coatings, greasers, plastic, sealants, and polyesters. Also, the rapid rise in the use of plastic is expected to boost market growth during the forecast period. The production of plastic was over 360 million tons in 2019 up from only 2 million tons in 1950. It is believed that the rising population and their increasing needs are the reason for growing plastic wastage.

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Geographically, the global acetic acid market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America region is anticipated to hold the largest market on the back of the rising construction industry and elevating disposable income of individuals. U.S residents’ disposable income in Aug 2022 was 0.1% which increased from -0.4% in Jun 2022.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Escalating Demand for Vinegar to Drive the Market Growth

Vinegar is used as a preservative in pickles, meat, vegetables, and fish products as it has acetic acid and low pH nature. Also, vinegar enhances the taste and quality of food. The rising interest of consumers and increasing preference for fast foods is boosting the sales of food dressing that includes vinegar.
The vinegar and substitutes of vinegar made from acetic acid reached an imported trade value of USD 890, 601in 2021 raised from 822,566 in 2020.
However, harmful effects of acetic acid and the reduction in consumption of vinyl acetate monomer are expected to operate as key restraints to the growth of global acetic acid market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global acetic acid market which includes company profiling of BP p.l.c, LyondellBasell Industries Holdings B.V., Daicel Corporation, Shandong Hualu-Hengsheng Chemical Co., Ltd., Jiangsu SOPO (Group) Co., Ltd., Kingboard Holdings Limited, Eastman Chemical Company, Lonza, Wacker Chemie AG, and Celanese Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global acetic acid market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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