Acetic Acid Market size is valued at US$ 9.3 Bn in 2017 and expected to grow at a CAGR of 10% in the forecasting period. Acetic acid acts as an intermediary for formulating coatings, greases, polyester, and sealants that have applications in diversified industries such as electronics, automotive, textiles, and packaging. Increasing trend amongst youngsters for fashionable apparels and superior quality fabrics produced by mills is augmenting the textile industry.
Bio-based chemicals are gaining acceptance as these can act as a complete replacement for fossil-based feedstocks. Product synthesis with bio-based materials is also gaining momentum. Bio-based acetic acid may be manufactured by fermenting corn starch., sugar for ethanol etc. Manufacturers are scouting for bio-based pathways for better understanding of the relative costs of manufacturing the product from biomass as compared to petroleum-based feedstocks.
Acetic Acid Market
Acetic Acid market is majorly segmented by the application and region wise. Based on applications, the market is segmented as vinyl acetate monomer [VAM], purified terephthalic acid [PTA], acetate esters, and acetic anhydrid. Under this, Vinyl Acetate Monomer (VAM) contributes significantly in the application segment of the acetic acid market. It is consumed widely in making several resins and polymers for textiles, films, paints, coatings, adhesives, and other such products.
Geographically, the market is segmented as North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Asia Pacific had witnessed a surge in the demand of acetic acid in recent years. The development of manufacturing industries in Indonesia, Laos, Thailand, Cambodia, Vietnam, apan, and India has boosted the market for acetic acid in the region.
Key Players Profiled and Analised
Key player across the Acetic Acid industry are Mitsubishi Chemical Corporation, Daicel Corporation, GNFC Limited, HELM AG, LyondellBasell Industries N.V., PetroChina and Sinopec. The market is witnessing the trend of mergers & acquisitions. For instance, Eastman Chemical acquired Sterling Chemicals in 2011.
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The Scope of Global Acetic Acid Market:
Global Acetic Acid Market By Application
• Vinyl Acetate Monomer [VAM]
• Purified Terephthalic Acid [PTA]
• Acetate Esters
• Acetic Anhydride
Global Acetic Acid Market By Geography
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Global Acetic Acid Market:
• Wacker Chemie
• Saudi International Petrochemicals
• DuPont
• Eastman Chemical Company
• Jiangsu Sopo (Group) Co., Ltd.
• British Petroleum
• Celanese Corporation
• Mitsubishi Chemical Corporation
• Daicel Corporation
• GNFC Limited
• HELM AG
• LyondellBasell Industries N.V.
• PetroChina
• Sinopec
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current Acetic Acid market outlook. Report encompasses the Acetic Acid market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Acetic Acid market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Acetic Acid market positioning of competitors
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