IMARC Group, a leading market research company, has recently releases report titled “Acetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The study provides a detailed analysis of the industry, including the global acetic acid market size, trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the acetic acid market?
Report Attributes Details
Market Size in 2022 US$ 11.2 Billion
Market Forecast in 2028 US$ 16.1 Billion
Growth rate (2023 to 2028) CAGR of 6.2%
Base Year of the Analysis 2022
Forecast Period 2023-2028
What is acetic acid market?
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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What are the growth prospects and trends in the acetic acid industry?
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.
Who are the key players operating in the industry?
The report covers the major market players including:
British Petroleum Plc
Eastman Chemical Company
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:
Breakup by End-Use:
Plastics & Polymers
Food & Beverage
Inks, Paints & Coatings
Breakup by Region:
North East Asia
South East Asia
Middle East & Africa
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