Acetic Acid Market Size, Share, Trends, Industry Insights, Analysis, Opportunity and Forecast 2023-2028
The Acetic Acid Market is expected to reach US$ 16.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
According to IMARC Group’s latest report, titled “Acetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The global acetic acid market size reached US$ 11.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Acetic acid, or ethanoic acid (CH3COOH), is a clear, colorless, organic monocarboxylic compound that comprises antifungal and antibacterial properties. It is commercially formulated on an industrial scale through the air oxidation of acetaldehyde and the carbonylation of methanol. It can be further discovered in animal secretions and numerous plants, where it is mixed with the esters of different alcohols. Unlike nitric, formic, or sulfuric acid, acetic acid has lower density, and its melting point is significantly higher. Currently, It is widely used in manufacturing vinyl acetate monomer (VAM) and purified terephthalic acid (PTA). Apart from this, acetic acid finds extensive applications as an essential chemical reagent to produce diverse chemicals used, which are employed extensively in industries to manufacture textiles, inks, rubber, and plastic materials.
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Acetic Acid Market Trends:
The widespread adoption of acetic acid across various industrial verticals in vinyl acetate monomer (VAM) form and derivatives to manufacture resins, ethylene vinyl alcohol (EVOH) paints, paper-board coatings, and adhesives is primarily driving the market growth. Furthermore, the extensive uptake of acetic acids in the food and beverage (F&B) industry as a souring agent to pickle vegetables and add flavor in apple cider vinegar is favoring the market growth. It further offers various benefits, such as it kills bacteria, reduces blood pressure, decreases inflammation, and supports weight loss. Apart from this, the rising utilization of acetic acid to manufacture polyester, sealants, and greases that further finds applications in diverse industries, such as electronics, textiles, and packaging, are contributing to the market growth.
Competitive Landscape With Key Players:
The competitive landscape of the acetic acid market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• British Petroleum Plc
• Celanese Corporation
• Daicel Corporation
• Eastman Chemical Company
• GNFC Limited
• HELM AG
• LyondellBasell Industries N.V.
• Mitsubishi Chemical Corporation
• Showa Denko K.K.
• Svensk Etanolkemi AB (SEKAB)
• Wacker Chemie AG
Key Market Segmentation:
The report has segmented the global acetic acid market on the basis of application, end-use and region.
Breakup by Application:
• Ethyl Acetate
• Butyl Acetate
Breakup by End-Use:
• Plastics & Polymers
• Food & Beverage
• Inks, Paints & Coatings
Breakup by Region:
• North America
• Western/Eastern Europe
• North East Asia
• South East Asia
• Middle East & Africa
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Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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