India Acetic Acid Market to be Dominated by Plastic & Polymers Segment Through 2028
India
Acetic Acid Market is expected to grow in the forecast period 2024-2028 due to
growing demand from end-user industries, especially plastic & polymer
sector.
According
to TechSci Research report, “India Acetic Acid Market - By Region,
Competition, Forecast and Opportunities, 2018-2028F”, India Acetic Acid market size is anticipated to
increase at a substantial rate in the forecast period. A significant factor fueling the growth of
India Acetic Acid Market is the increasing demand from the polymer and plastic
industry. Acetic acid is used in the production of Purified Terephthalic Acid
which is further used in the manufacturing of PET bottles used for the storage
of soda and other beverages.
Acetic
acid, also known as ethanoic acid, is a colorless organic compound included
under carboxylic acids. Development and growing applications in various
industries such as paints & coatings, adhesives & sealants, and
textiles will globally augment market growth. Moreover, PTA is used for
manufacturing polyester, and the increasing demand for polyester in the textile
and packaging industries leads to the high consumption of PTA. Along with this,
acetic acid is considered safe for utilization in foods if it is utilized in a
manner that is consistent with excellent manufacturing practices, and in
“food-grade”. Additionally, acetic acid is also used in the production of vinyl
acetate monomer (VAM) which acts as an intermediate to make resins and polymers
for coatings, films, adhesives, textiles, paints, and other end-products, further
fueling the growth of India Acetic Acid Market.
For
instance, RX Chemicals produced vinyl acetate monomer (VAM), which is used in
various applications such as foam, shoe soles, injection molding, etc.
Furthermore,
the market is being further stimulated by the growing demand for acetic acid
for various applications in food & beverage, pharmaceuticals, paint and
coatings, and the chemical sector.
However,
high exposure to acetic acid causes many problems such as irritation to the
eyes, skin, and mucous membranes, further slowing down the market growth. Also,
fluctuations in the availability and cost of these raw materials (methanol and carbon
monoxide) have a significant impact on the production and pricing of acetic
acid, which further slows down
market growth.
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the "India Acetic Acid Market"
India Acetic Acid market is segmented based on application, end-user
industry, and region.
Based on the application, the market is divided into vinyl acetate
monomer, purified terephthalic acid, acetate esters, ethanol, and others.
Vinyl Acetate Monomer segment is expected to hold the largest market
share in the forecast period. Acetic acid is a major raw material used in the
production of vinyl acetate monomer, which is further used for the production
of Polyvinyl acetate and is also used to make resins and polymers for coatings,
films, adhesives, textiles, paints, and other end-products.
Based on the end-user industry, the market is categorized into food
& beverage, plastic & polymers, paints & coatings, pharmaceuticals,
and others. Plastic & polymers segment is expected to hold the largest
market share in the forecast period. Acetic acid is used as a raw material in the production of many polymers
such as polyvinyl acetate (PVA) which is widely used in the production of
adhesives, paints, and coatings. Along with this, during the polymerization
process, acetic acid acts as a solvent and helps to control the molecular
weight and viscosity of the polymer.
Major
companies operating in the India Acetic Acid market are:
- Indian Oil Corporation
- Pentoky Organy India
Limited
- Gujarat Narmada Valley
Fertilizers & Chemicals Limited
- Jubilant Ingrevia Limited
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“India
Acetic Acid market has seen significant growth in recent years,
driven by the increasing demand from various end-use industries, such as food
& beverage, plastic & polymers, paints & coatings, and
pharmaceutical. Technological advancements have had a significant impact on the
acetic acid market in India, which helps in improving the efficiency,
performance, and environmental friendliness of products. Along with this,
increasing demand for various polymer and intermediate products such as vinyl acetates monomer, purified terephthalic acid, and ethyl acetate in
various application sectors, creates lucrative opportunities for market growth”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
India
Acetic Acid Market, By Application (Vinyl Acetate Monomer, Purified
Terephthalic Acid, Acetate Esters, Ethanol, Others) By End User Industry (Food
& Beverage, Plastic & Polymers, Paints & Coatings, Pharmaceutical,
Others) By Region, Competition, Forecast & Opportunities, 2018-2028F, has evaluated the future growth potential of India
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 India Acetic Acid market.”
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