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Acetic Acid Market Value to Reach US$ 16.4 Billion by 2026

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The global acetic acid market value is expected to reach around US$ 16.4 billion by 2026 and estimated to grow at CAGR above 6.2% over the forecast time frame

LOS ANGELES, Aug. 22, 2019 (GLOBE NEWSWIRE) — Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Acetic Acid Market (By Manufacturing Process: Synthetic route {Methanol carbonylation, Terephthalic/isophthalic acid coproduct, Paraffin oxidation, Oxidation of hydrocarbons, Olefin oxidation}, Biological route; By Application: Vinyl acetate monomer, Monochloroacetic, Acetic anhydride, Terephthalic acid, Acetate esters, Dimethylacetamide, Ketene, Textiles, Others) – Global Industry Size, Share, Trends and Forecast 2019 – 2026”.

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Ethanoic acid or acetic acid is manufactured mainly in liquid shape, is colorless and has a powerful, unique and pungent aroma. Most acetic acid is generated by methanol carbonylation response, where carbon dioxide and methanol combine as a final product to produce acetic acid. Acetic acid is an antifungal and antibacterial synthetic carboxylic acid. A wide area of application of acetic acid in agriculture, paper, chemical and water treatment industries is expected to accelerate the demand for acetic acid during the forecast period and thus drive the growth of the market for acetic acid.

As the population worldwide grows, demand for clothing and other packaged products is increasing, which in turn drives the development of the packaging and textile sectors using PTA, thus adding to the development of the general acetic acid industry during the forecast period. Acetic acid is also used as an industrial chemical and chemical reagent used to generate cellulose acetate for film movies, combined with polyvinyl acetate used in the manufacturing of synthetic fabrics and fibers, thus increasing acetic acid usage during the forecast period. Acetic Esters consumption projected to rise, which is anticipated to cause market growth across the glove during the forecast period.

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Reduced output at low temperatures, poor crystal compatibility, and hair rash and metal corrosion are variables anticipated to hamper acetic acid market growth during the prediction era. Vinyl acetate monomer (VAM) is anticipated to boost the acetic acid industry as a significant contributor to VAM manufacturing. Demand for vinyl alcohols and polyvinyl acetates is also increasing, pushing the acetic acid industry growth.  VAM is also used to produce polymer for coatings and adhesives to boost acetic acid usage. Acetic acid is also used as a preservative in the food industry and in family products. High demand for acetic acid in the manufacturing and food industry of VAM & TPA would thus boost business development in acetic acid. However, environmental concerns such as non-biodegradability and emission into the atmosphere of damaging components such as aerosols can limit the development of acetic acid in VAM and TPA manufacturing. Growing demand for acetic acid in rubber, plastics, pharmaceutical, building, paint and other sectors is pushing worldwide acetic acid business development. Increasing demand for Purified Terephthalic Acid (PTA) and Vinyl Acetate Monomer (VAM) in the packaging and fabric industries (polyester production) also leads to increased demand for acetic acid. Increasing demand for acetic acid as vinegar owing to multiple related health advantages is also anticipated to boost the development of the worldwide acetic acid industry during the forecast period.

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Acetic acid business growth is relatively small in some areas, but the industry is already maturing in those areas.  High acetic acid concentration can be detrimental to aquatic life, livestock, and crops, which in the forecast period can be a constraint to the worldwide acetic acid industry. Also, volatile raw material prices like methanol can be a limiting factor for the acetic acid industry. Chinese industry will proceed to drive acetic acid growth. The biggest end-use in China is PTA, followed by VAM and ethyl acetate. Overall, Chinese acetic acid usage will expand heavily during the forecast period, driven by ongoing powerful PTA supply. Consumption on the Indian Subcontinent will also improve sharply over the forecast period. PTA leads consumption in this region, followed tightly by ethyl acetate.

Key Players & Strategies

Some vital players in the acetic acid market includes Mitsubishi Chemical Corporation, Jiangsu Sopo (Group), Sinopec, GNFC Limited, Saudi International Petrochemicals, Daicel Corporation, DuPont, British Petroleum, LyondellBasell, Wacker Chemie, Celanese Corporation, HELM AG, Eastman Chemical Company and PetroChina.

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