Acetic acid is a liquid chemical compound that is colorless in nature. Acetic acid is also referred to as ethanoic acid. It is produced by the methanol carbonylation process. Acetic acid is widely used as a key intermediate in the production of chemical products such as Purified Terephthalic Acid (PTA), Vinyl acetate monomer (VAM), and others. Pharmaceutical, rubber, plastics, construction and paints &coatings are some of the key end-user of acetic acid.

High demand for polyvinyl acetate (PVA) and polyvinyl alcohol (PVOH) that are key derivatives of vinyl acetate monomer is augmenting the market growth. Polyvinyl acetate is widely used across various applications such as packaging films, thickeners, and photosensitive coatings. Polyvinyl alcohol is majorly used in paints and paper coatings due to their excellent adhesions properties. Thus, the growing demand for polyvinyl acetate and polyvinyl alcohol is accelerating the market growth of acetic acid.

The global acetic acid market was estimated to be valued more than US$ 10,551.4 million in terms of revenue in 2019 and is predicted to grow at a CAGR of 9.5% during the forecast period (2020 to 2027).

Top Key Players in Acetic Acid  market: Celanese corporation, British petroleum, Eastman chemical company, Jiangsu Sopo (group) co., ltd. , China petroleum & chemical corporation (Sinopec), Lyondell basell industries, Saudi basic industries corporation (Sabic), Mitsubishi chemical company, Petrochina co. Ltd., Petrochina co. Ltd., and Basf SE.

Regional Analysis For Acetic Acid  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Acetic Acid market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

The volatile price of the raw materials utilized in the manufacturing of ethanoic acid is predicted to hinder the market growth. Methanol may be a key staple utilized in the assembly of ethanoic acid and is produce by gas that’s highly vulnerable to volatility. Thus variation within the price of gas is predicted to hinder the market growth.

Rapid industrialization and urbanization round the globe is projected to supply lucrative market opportunities over the forecast period. Rise in construction industries including the growing demand for high-performance plastic from the end-user industry thanks to their durability is again expected to foster the market growth. Moreover, increasing automobiles production across the developing region is further projected to boost demand for plastic and rubber products which successively again fostering the market growth over the forecast period.

Shifting inclination of the key manufacturer towards increasing the production capacity of the acetic acid is one of the key trends in the market. For instance, in January 2019, Celanese has announced that it expanding its acetic acid facility in Clear Lake, Texas. The Celanese has expanded its acetic acid facility from 1.3m tones/year to approximately 2m tones /year. The expansion will facilitate productivity options within its global acetic acid network in both Singapore and Nanjing, China.

Increasing consumption of acetic acid across the food &beverage industry is fueling market growth. Acetic acid is used as a condiment and acidity regulator in the food products. Increasing spending of consumers on the food products due to the growing health wellness trend and rising demand for food products is fostering the market growth of acetic acid. Thus, the expansion of the food &beverage industry is augmenting the market growth of acetic acid

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