Acetic Acid Market Size, Growth, Scope and Forecast 2022-2027

According to the latest report by IMARC Group, titled "Acetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global acetic acid market size reached US$ 10.5 Billion in 2021. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 15.5 Billion by 2027, exhibiting at a CAGR of 6.5% during 2022-2027.

Acetic acid is a colorless liquid that is classified as a weak acid. Also known as ethanoic acid, it is an important chemical reagent and industrial chemical with the chemical formula CH3COOH. Obtained by the carbonylation of methanol, it is characterized by a sour and strong pungent smell. It is extensively utilized in the production of vinyl acetate monomer (VAM), metal acetates, purified terepthalic acid (PTA), cellulose acetate, and ethyl and butyl acetates. It is also employed as an intermediary for the manufacturing of coatings, sealants and greases across numerous industry verticals, including the construction, electronics, and packaging sectors.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Acetic Acid Market Trends:

The global market is primarily driven by the increasing utilization of vinegar in the food industry. Vinegar forms an essential component in the preparation of various cuisines as its consumption also aids in regulating blood sugar, maintaining optimum cholesterol levels and reducing weight. Since acetic acid is widely used in the production of vinegar, this is providing a thrust to the market growth. Moreover, there has been an escalating preference for polyethylene terephthalate (PET) bottles across numerous sectors, such as the pharmaceutical, food and beverages, and consumer goods industries, due to their durable, lightweight and recyclable nature. As these bottles are manufactured using PTA, which is produced using acetic acid, this, in turn, is facilitating the uptake of acetic acid across the globe. The market is further driven by technological advancements in production technology to significantly lower the overall manufacturing costs while also ensuring increased production efficiency. Some of the other factors contributing to the market growth include the increasing product utilization for manufacturing packaging materials and the growing demand for high-quality paints and adhesives. 

Global Acetic Acid Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

British Petroleum Plc
Celanese Corporation
Daicel Corporation
Eastman Chemical Company
GNFC Limited
HELM AG
LyondellBasell Industries N.V.
Mitsubishi Chemical Corporation
PetroChina
SABIC
Showa Denko K.K.
Sinopec
Svensk Etanolkemi AB (SEKAB)
Wacker Chemie AG 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global acetic acid market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application and end-use.

Breakup by Application:

VAM
PTA
Anhydride
Ethyl Acetate
Butyl Acetate
Others 

Breakup by End-Use:

Plastics & Polymers
Food & Beverage
Inks, Paints & Coatings
Chemicals
Pharmaceuticals
Others

Regional Insights:

China
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 (2016-2021)
Market Outlook (2022-2027)
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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This release was published on openPR.