Acetic Acid Market to be Dominated by Vinyl Acetate Monomer Segment Through 2027
Rising population & rapid
growth of the packaging industries to drive the demand for the Acetic Acid
market in the forecast period, 2023-2027.
According to TechSci Research report, “Acetic Acid Market - Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2017-2027”, The Global Acetic Acid
Market is anticipated to increase at an impressive scale in the forecast
period, 2023-2027. There is a particular product that is required by every
industry for smooth production. As the acetic acid product is used for
different purposes, it is also in demand in various sectors, such as sealant,
coating, grease, and polyester. Thus, slight fluctuation in related markets can
impact the growth of the acetic acid market. For example, an increase in the EV
vehicle market will positively impact acetic market share as acetic acid is
used in the production of paint and coats. Due to the versatile uses of acetic
acid in the food industry, medical industrial, household, industrial chemical,
for study purposes in laboratories and schools, infrastructure projects, and
other proposes make this product demandable to growing population needs. Thus,
these trends are going to impact the market in terms of value and volume.
Due to rapidly growing
EV vehicle industries, food & medicinal demand, packaging of foods, and the
textile sector, we can expect an increase in demand that directly impacts the
demand for acetic acid across the industries. Thus, it is likely that the
demand for Acetic acid is going to increase in the projected year. In 2020,
the market share as per revenue of the paints and coatings industry in the
United States amounted to approximately 25.2 billion U.S. dollars. Thus, we are
going to experience the growth in market share of the acetic acid market to
maintain the existing assets and development of the upcoming infra projects and
its accessories or vehicles.
Browse over XX market
data Figures spread through 110 Pages and an in-depth TOC on "Global Acetic Acid Market"
The Global Acetic Acid Market
is segmented based on application type, and end user industry:
Based on application type,
the market is divided into vinyl acetate monomer, purified terephthalic acid,
acetate esters, ethanol, and others. Vinyl acetate monomer is expected to hold
the largest market share in the forecast period, 2023-2027. Among all its categories,
it is used in diverse ways as resins and polymers for coating, films, textiles,
paints, and adhesives, which helps VAM to target more niches. Thus, VAM holds
the largest market share.
Based on End User Industry
Type, the market is divided into food & beverage, plastic & polymers,
paints & coatings, pharmaceutical, and others. As per estimates, paints
& coatings will experience the highest market share during the forecast
period. As the population grows, demand for more infrastructure and automobiles
is increasing to fulfill their needs. Hence, this segment is dominated by
paints & coatings.
Major operating companies
operating in Global Acetic Acid Market are:
- Celanese Corporation
- INEOS Group
- Eastman Chemical Company
- Jiangsu SOPO (Group) Co. Ltd
- Daicel Corporation
- Gujarat Narmada Valley Fertilizers & Chemicals
Limited
- Helm AG
- Pentoky Organy India Limited
- Dow Chemicals Company
- Indian Oil Corporation
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“The
Asia-pacific region dominates the market and is expected to maintain its
dominance in the coming years because it has more developing economies and a
growing population. Ongoing development projects, growing innovation in new
sectors, and increasing demand for existing product goods that require Acetic
products directly influence the growth of the market segment compound.
According to Statista, the Global average demand for packaging will be 500
billion in revenue in the year 2027. Thus, this increasing trend is expected to
positively impact the acetic acid market's market growth.
The
Asia-Pacific region has one of the biggest suppliers of acetic acid, with
almost 70% of trade worldwide. Thus, this region is the highest producer and
consumer of acetic acid. The above data indicate and make this market more
lucrative in market share. Countries in this region are getting additional FDI
from western enterprises to boost acetic acid production, consumption, and
import. Increasing demand for EV vehicles, food & medicinal packaging of
foods, and the textile sector propels the Global Acetic Acid Market growth till
2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Acetic Acid Market- Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2017-2027 Segmented by Application (Vinyl Acetate
Monomer, Purified Terephthalic Acid, Acetate Esters, Ethanol, Others), by End
User Industry (Food & Beverage, Plastic & Polymers, Paints &
Coatings, Pharmaceutical, Others), has evaluated the
future growth potential of Global Acetic Acid Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Acetic Acid Market.
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