Acetic Acid Market by Derivative (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetate Esters, Acetic Anhydride, and Others), End Use (Plastics and Polymers, Food and Beverage, Adhesives, Paints and Coatings, Textile, Medical, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026707 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 9 billion mark in 2022 and is expected to hit US$ 13 billion by 2030, recording a CAGR of 5.0% during the forecast period.

Increasing demand from the paints and coatings industry. 

Paints and coatings are used widely to impart aesthetic feasibility to substrates. In addition, they also affect their functionality in terms of wettability, corrosion resistance and adhesion. Paints & coatings market is increasingly witnessing innovations for achieving eco-friendly and durable solution with the introduction of nanotechnology and water-borne systems. Vinyl acetate monomer (VAM) is a derivative of acetic acid and is used in producing water-based paints, adhesives, waterproofing coatings, and paper and paperboard coatings. The PTA-based polyesters and polyamides are also used in hot-melt adhesives. PTA is even used in paints as a carrier. The growing demand of paints and coatings industry due to increasing construction activities across the globe is driving the acetic acid market.

Within the report, the market is segmented into derivative, end use, and geography. By derivative, the market is further segmented into vinyl acetate monomer (VAM), purified terephthalic acid (PTA), acetate esters, acetic anhydride, and Others. Based on end use, the market is further segmented into plastics and polymers, food and beverage, adhesives, paints and coatings, textile, medical, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Expansion of end-use industries.

The global market for acetic acid is undergoing strong growth due to the rising demand from pharmaceutical, textiles, food processing, fertilizer etc. The expansion of these industries due to rising population and urbanization is expected to drive the market over the next few years. The demand for acetic acid is also high in the food and beverage industry. Acetic acid bacteria have been important microorganisms in the production of fermented foods and beverages such as vinegar, kombucha, kefir, and lambic beer. The global food & beverages industry is growing at a rapid pace. People consume packaged food products due to their hectic lifestyles, busy work schedules, and high disposable incomes. People prefer on-the-go consumption of food and beverages to minimize the time required for preparing food at home. This, in turn, is driving the acetic acid market.

APAC is the largest acetic acid market in the forecast period.

The acetic acid market in APAC is segmented into China, India, Japan, South Korea, and the Rest of APAC. The region is dominating as well as the fastest growing in the acetic acid market, driven by high economic growth and huge investments in the paints and coatings, pharmaceutical, agriculture, chemical, etc. The growth of the region is propelled by the increasing use of acetic acid in the plastics and polymers, food and beverage, adhesives, paints and coatings, textile, medical, and others. The demand for high-quality products, rising population, and the growing end-use industries have led to innovation and development in the market. The continuous growth in the manufacturing sector drives the demand for acetic acid in the region.

Recent strategic developments in acetic acid market

The acetic acid market has undergone several significant developments, and a few of these have been mentioned below:

  • In January 2021, INEOS acquired BP’s global Aromatics & Acetyls business, which includes 15 different global production sites and 10 joint ventures, to further strengthen its geographical reach and enhance its product portfolio.

The acetic acid market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Celanese Corporation, INEOS, Jiangsu SOPO (Group) Co. Ltd, LyondellBasell Industries Holdings BV, and Eastman Chemical Company. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Acetic Acid related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Application industry of acetic acid industry
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Derivative:
    • Vinyl Acetate Monomer (VAM)
    • Purified Terephthalic Acid (PTA)
    • Acetate Esters
    • Acetic Anhydride
    • Others
  • End Use:
    • Plastics and Polymers
    • Food and Beverage
    • Adhesives
    • Paints and Coatings
    • Textile
    • Medical
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Celanese Corporation
    • INEOS
    • Jiangsu SOPO (Group) Co. Ltd
    • LyondellBasell Industries Holdings BV
    • Eastman Chemical Company

The List of Companies
- Celanese Corporation
- INEOS
- Jiangsu SOPO (Group) Co. Ltd
- LyondellBasell Industries Holdings BV
- Eastman Chemical Company

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