PUBLISHER: IMARC | PRODUCT CODE: 1423412
PUBLISHER: IMARC | PRODUCT CODE: 1423412
Acetic Acid Market Report by Application (VAM, PTA, Anhydride, Ethyl Acetate, Butyl Acetate, and Others), End-Use (Plastics and Polymers, Food and Beverage, Inks, Paints and Coatings, Chemicals, Pharmaceuticals, and Others), and Region 2024-2032
Abstract
The global acetic acid market size reached US$ 11.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 19.5 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032. The increasing usage as a feedstock for various chemicals, rising popularity of lightweight and recyclable PET bottles, and the growing sales of vehicles represent some of the key factors driving the market.
Several Technological Advancements Augmenting Market Growth
The advent of the cativa and acid optimization plus (AO-plus) process represents one of the major factors bolstering the market growth around the world. It delivers significant savings in variable costs and lower capital costs for the construction of new plants. It also offers increased capacity, enhanced production efficiency, reduced energy consumption by approximately 30%, and lower operating costs.
Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. The market structure is moderately fragmented by a handful of companies with the top companies accounting for a majority of the market share. The volume of new entrants is high in the acetic acid industry due to initial capital investment and low product differentiation.
What is Acetic Acid?
Acetic acid, also known as methane carboxylic acid and ethanoic acid, is a pungent-smelling liquid that has a sour taste. It can be produced by fermentation, oxidation of ethanol, or by chemical synthesis. It can also be manufactured by the breakdown of carbohydrates and fats, and it helps to maintain the acidity of the blood within a narrow range. It is characterized by a clear, colorless liquid, has a strong odor of vinegar and is corrosive to tissues and metals. It is a polar solvent and can dissolve many polar and nonpolar compounds. It can react with alcohols to form esters, with metals to form acetates, and with bases to form acetate salts. It is used as a solvent in the production of certain pharmaceutical products, such as vitamins, antibiotics, and other drugs. It is also utilized as a reagent in the synthesis of active pharmaceutical ingredients (APIs), such as acetylsalicylic acid (aspirin) and acetaminophen.
COVID-19 Impact:
The COVID-19 pandemic outbreak caused a significant impact on the acetic acid industry and imposed unprecedented challenges on numerous countries. The reduced demand for acetic acid was primarily due to the slowdown in industrial activities and the closure of many manufacturing plants. The pandemic severely affected industries, such as textiles, automotive, and construction, which are major consumers of acetic acid. This led to a significant reduction in the production and consumption of acetic acid. The impact of the pandemic on the acetic acid industry was also felt in terms of supply chain disruptions. The restrictions on transportation and logistics disrupted the supply of raw materials and the delivery of finished products, leading to a decrease in the production of acetic acid. The closure of borders and the decrease in international trade also had a significant impact on the industry. Despite the challenges faced by the industry, some companies were able to adapt to the changing market conditions. They diversified their product offerings and focused on the production of other chemicals that were in high demand during the pandemic, such as sanitizers and disinfectants.
Acetic Acid Market Trends:
The increasing use of acetic acid as a feedstock in the production of various chemicals, including vinyl acetate, acetic anhydride, and acetate esters, in confluence with significant growth in the chemical industry, represents one of the major factors strengthening the market growth around the world. Moreover, the rising utilization of acetic acid in the manufacturing of coatings, greases, polyesters, and sealants, which finds application in different industry verticals, such as electronics, automobiles, textiles, and packaging, is favoring the growth of the market. In addition, the growing usage of acetic acid in the preparation, storage, and preservation of processed food products is influencing the market positively. Apart from this, the increasing adoption of acetic acid for producing purified terephthalic acid (PTA) on account of the rising popularity of lightweight and recyclable polyethylene terephthalate (PET) bottles is contributing to the market growth. Furthermore, there is an increase in the adoption of acetic acid in the automotive industry for producing anti freeze and coolant fluids. This, coupled with the growing sales of luxury vehicles on account of rapid urbanization and inflating income levels is creating a positive outlook for the market. Besides this, the rising consumption of vinegar as it helps in promoting weight management, maintaining blood pressure, and regulating blood sugar and cholesterol levels, is catalyzing the demand for acetic acid in the manufacturing of vinegar. Additionally, leading manufacturers are investing in research and development (R&D) projects to minimize energy consumption, lower overall operating costs and ensure increased production efficiency.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global acetic acid market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on application and end-use.
Application Insights:
VAM
PTA
Anhydride
Ethyl Acetate
Butyl Acetate
Others
The report has provided a detailed breakup and analysis of the acetic acid market based on the application. This includes VAM, PTA, anhydride, ethyl acetate, butyl acetate, and others. According to the report, VAM represented the largest segment as it is the key component used to manufacture several polymers and resins for textiles, paints, films, coatings and adhesives. It is also utilized to produce ethylene vinyl alcohol (EVOH), which makes barrier resins for plastic bottles, food packaging and gasoline tanks.
End-Use Insights:
Plastics and Polymers
Food and Beverage
Inks, Paints and Coatings
Chemicals
Pharmaceuticals
Others
A detailed breakup and analysis of the acetic acid market based on the end-use has also been provided in the report. This includes plastics and polymers, food and beverage, inks, paints and coatings, chemicals, pharmaceuticals, and others. According to the report, inks, paints and coatings accounted for the largest market share due to the growing demand for automotive paints. Moreover, the rising demand for acetic acid in the digital printing, packaging, and labels sector to manufacture printing inks is contributing to the market growth.
Regional Insights:
China
North America
Western/Eastern Europe
North East Asia
South East Asia
Middle East & Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include China, North America, Western/Eastern Europe, North East Asia, South East Asia, and the Middle East and Africa. According to the report, China was the largest market for acetic acid. The increasing use of acetic acid in the chemical and other industries represents one of the major factors supporting the market growth in China. Moreover, the growing investments in the chemical and petrochemical projects due to the recent boom of shale gas and oil slates are influencing the market positively in the country. Besides this, the rising adoption of acetic acid in the packaging and films industries is strengthening the market growth in the country.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global acetic acid market. Some of the companies covered in the report include:
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
Please note that this only represents a partial list of companies, and the complete list has been provided in the report.
The essential aspects of the global acetic acid market evaluated in the report include:
Market trends
Major regions
Impact of COVID-19
Key application areas
Major End-Use Industries
Key manufacturers
Price trends
Raw material requirements
Chemical reactions involved in the manufacturing process
Major importers and exporters
Value chain analysis
Market trends for major feedstocks
Price trends for major feedstocks
Key regions for major feedstocks
Key players for major feedstocks
Key Questions Answered in This Report
- 1. What was the size of the global acetic acid market in 2023?
- 2. What is the expected growth rate of the global acetic acid market during 2024-2032?
- 3. What are the key factors driving the global acetic acid market?
- 4. What has been the impact of COVID-19 on the global acetic acid market?
- 5. What is the breakup of the global acetic acid market based on the application?
- 6. What is the breakup of the global cheese market based on the end-use?
- 7. What are the key regions in the global acetic acid market?
- 8. Who are the key players/companies in the global acetic acid market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Properties
- 4.3 Key Industry Trends
5 Global Acetic Acid Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Impact of COVID-19
- 5.4 Price Analysis
- 5.4.1 Key Price Indicators
- 5.4.2 Price Structure
- 5.4.3 Price Trends
- 5.5 Market Breakup by Region
- 5.6 Market Breakup by Application
- 5.7 Market Breakup by End-Use
- 5.8 Market Forecast
- 5.9 SWOT Analysis
- 5.9.1 Overview
- 5.9.2 Strengths
- 5.9.3 Weaknesses
- 5.9.4 Opportunities
- 5.9.5 Threats
- 5.10 Value Chain Analysis
- 5.10.1 Raw Material Procurement
- 5.10.2 Manufacturing
- 5.10.3 Marketing
- 5.10.4 Distribution
- 5.10.5 Exports
- 5.10.6 End-Use
- 5.11 Porter's Five Forces Analysis
- 5.11.1 Overview
- 5.11.2 Bargaining Power of Buyers
- 5.11.3 Bargaining Power of Suppliers
- 5.11.4 Degree of Competition
- 5.11.5 Threat of New Entrants
- 5.11.6 Threat of Substitutes
- 5.12 Trade Data
- 5.12.1 Imports
- 5.12.2 Exports
- 5.13 Key Market Drivers and Success Factors
6 Market Breakup by Region
- 6.1 China
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 North America
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Western/Eastern Europe
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 North East Asia
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 South East Asia
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Middle East & Africa
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Application
- 7.1 VAM
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 PTA
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Anhydride
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Ethyl Acetate
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Butyl Acetate
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Others
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
8 Market Breakup by End-Use
- 8.1 Plastics & Polymers
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Food & Beverage
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Inks, Paints & Coatings
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Chemicals
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Pharmaceuticals
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Competitive Landscape
- 9.1 Market Structure
- 9.2 Market Breakup by Key Players
- 9.3 Profiles of Major Players
- 9.3.1 British Petroleum Plc
- 9.3.2 Celanese Corporation
- 9.3.3 Daicel Corporation
- 9.3.4 Eastman Chemical Company
- 9.3.5 GNFC Limited
- 9.3.6 HELM AG
- 9.3.7 LyondellBasell Industries N.V.
- 9.3.8 Mitsubishi Chemical Corporation
- 9.3.9 PetroChina
- 9.3.10 SABIC
- 9.3.11 Showa Denko K.K.
- 9.3.12 Sinopec
- 9.3.13 Svensk Etanolkemi AB (SEKAB)
- 9.3.14 Wacker Chemie AG
10 Acetic Acid Manufacturing Process
- 10.1 Product Overview
- 10.2 Chemical Reactions Involved
- 10.3 Detailed Process Flow
- 10.4 Raw Material Requirement
- 10.5 Mass Balance and Feedstock Conversion Rate
11 Acetic Acid: Feedstock Analysis
- 11.1 Methanol
- 11.1.1 Market Performance
- 11.1.1.1 Volume Trend
- 11.1.1.2 Value Trend
- 11.1.2 Price Trend
- 11.1.3 Market Breakup by Region
- 11.1.4 Key Suppliers
- 11.1.1 Market Performance
- 11.2 Carbon Monoxide
- 11.2.1 Market Performance
- 11.2.1.1 Volume Trend
- 11.2.1.2 Value Trend
- 11.2.2 Price Trend
- 11.2.3 Key Suppliers
- 11.2.1 Market Performance
List of Figures
- Figure 1: Global: Acetic Acid Market: Major Drivers and Challenges
- Figure 2: Global: Acetic Acid Market: Production Volume Trends (in Million Tons), 2018-2023
- Figure 3: Global: Acetic Acid Market: Production Value Trends (in Billion US$), 2018-2023
- Figure 4: Global: Acetic Acid Market: Average Prices (in US$/Ton), 2018-2023
- Figure 5: Acetic Acid Market: Price Structure
- Figure 6: Global: Acetic Acid Market: Breakup by Region (in %), 2023
- Figure 7: Global: Acetic Acid Market: Breakup by Application (in %), 2023
- Figure 8: Global: Acetic Acid Market: Breakup by End-Use (in %), 2023
- Figure 9: Global: Acetic Acid Market Forecast: Production Volume Trends (in Million Tons), 2024-2032
- Figure 10: Global: Acetic Acid Market Forecast: Production Value Trends (in Billion US$), 2024-2032
- Figure 11: Global: Acetic Acid Market Forecast: Average Prices (in US$/Ton), 2024-2032
- Figure 12: Global: Acetic Acid Industry: SWOT Analysis
- Figure 13: Global: Acetic Acid Industry: Value Chain Analysis
- Figure 14: Global: Acetic Acid Industry: Porter's Five Forces Analysis
- Figure 15: Global: Acetic Acid Market: Import Volume Breakup by Country (in %)
- Figure 16: India: Acetic Acid Market: Import Volume Trend (in Tons)
- Figure 17: Global: Acetic Acid Market: Export Volume Breakup by Country (in %)
- Figure 18: USA: Acetic Acid Market: Export Volume Trend (in Tons)
- Figure 19: China: Acetic Acid Market (in Million Tons), 2018 & 2023
- Figure 20: China: Acetic Acid Market Forecast (in Million Tons), 2024-2032
- Figure 21: North America: Acetic Acid Market (in Million Tons), 2018 & 2023
- Figure 22: North America: Acetic Acid Market Forecast (in Million Tons), 2024-2032
- Figure 23: Western/Eastern Europe: Acetic Acid Market (in Million Tons), 2018 & 2023
- Figure 24: Western/Eastern Europe: Acetic Acid Market Forecast (in Million Tons), 2024-2032
- Figure 25: North East Asia: Acetic Acid Market (in Million Tons), 2018 & 2023
- Figure 26: North East Asia: Acetic Acid Market Forecast (in Million Tons), 2024-2032
- Figure 27: South East Asia: Acetic Acid Market (in Million Tons), 2018 & 2023
- Figure 28: South East Asia: Acetic Acid Market Forecast (in Million Tons), 2024-2032
- Figure 29: Middle East & Africa: Acetic Acid Market (in Million Tons), 2018 & 2023
- Figure 30: Middle East & Africa: Acetic Acid Market Forecast (in Million Tons), 2024-2032
- Figure 31: Global: Acetic Acid (VAM Applications) Market (in Million Tons), 2018 & 2023
- Figure 32: Global: Acetic Acid (VAM Applications) Market Forecast (in Million Tons), 2024-2032
- Figure 33: Global: Acetic Acid (PTA Applications) Market (in Million Tons), 2018 & 2023
- Figure 34: Global: Acetic Acid (PTA Applications) Market Forecast (in Million Tons), 2024-2032
- Figure 35: Global: Acetic Acid (Anhydride Applications) Market (in Million Tons), 2018 & 2023
- Figure 36: Global: Acetic Acid (Anhydride Applications) Market Forecast (in Million Tons), 2024-2032
- Figure 37: Global: Acetic Acid (Ethyl Acetate Applications) Market (in Million Tons), 2018 & 2023
- Figure 38: Global: Acetic Acid (Ethyl Acetate Applications) Market Forecast (in Million Tons), 2024-2032
- Figure 39: Global: Acetic Acid (Butyl Acetate Applications) Market (in Million Tons), 2018 & 2023
- Figure 40: Global: Acetic Acid (Butyl Acetate Applications) Market Forecast (in Million Tons), 2024-2032
- Figure 41: Global: Acetic Acid (Other Applications) Market (in Million Tons), 2018 & 2023
- Figure 42: Global: Acetic Acid (Other Applications) Market Forecast (in Million Tons), 2024-2032
- Figure 43: Global: Acetic Acid (Plastics & Polymers) Market (in Million Tons), 2018 & 2023
- Figure 44: Global: Acetic Acid (Plastics & Polymers) Market Forecast (in Million Tons), 2024-2032
- Figure 45: Global: Acetic Acid (Food & Beverage) Market (in Million Tons), 2018 & 2023
- Figure 46: Global: Acetic Acid (Food & Beverage) Market Forecast (in Million Tons), 2024-2032
- Figure 47: Global: Acetic Acid (Inks, Paints & Coatings) Market (in Million Tons), 2018 & 2023
- Figure 48: Global: Acetic Acid (Inks, Paints & Coatings) Market Forecast (in Million Tons), 2024-2032
- Figure 49: Global: Acetic Acid (Chemicals) Market (in Million Tons), 2018 & 2023
- Figure 50: Global: Acetic Acid (Chemicals) Market Forecast (in Million Tons), 2024-2032
- Figure 51: Global: Acetic Acid (Pharmaceuticals) Market (in Million Tons), 2018 & 2023
- Figure 52: Global: Acetic Acid (Pharmaceuticals) Market Forecast (in Million Tons), 2024-2032
- Figure 53: Global: Acetic Acid (Others) Market (in Million Tons), 2018 & 2023
- Figure 54: Global: Acetic Acid (Others) Market Forecast (in Million Tons), 2024-2032
- Figure 55: Global: Acetic Acid Market: Breakup by Key Players (in %)
- Figure 56: Acetic Acid Manufacturing: Detailed Process Flow
- Figure 57: Global: Acetic Acid Manufacturing: Conversion Rate of Feedstocks
- Figure 58: Global: Methanol Market: Production Volume Trends (in Million Tons), 2018-2023
- Figure 59: Global: Methanol Market: Production Value Trends (in Million US$), 2018-2023
- Figure 60: Global: Methanol Market: Average Prices (in US$/Ton), 2018-2032
- Figure 61: Global: Methanol Market: Breakup by End-Use (in %)
- Figure 62: Global: Carbon Monoxide Market: Production Volume Trends (in Million Tons), 2018-2023
- Figure 63: Global: Carbon Monoxide Market: Production Value Trends (in Million US$), 2018-2023
- Figure 64: Global: Carbon Monoxide Market: Average Prices (in US$/Ton), 2018-2032
List of Tables
- Table 1: Acetic Acid: Physical Properties
- Table 2: Acetic Acid: Chemical Properties
- Table 3: Global: Acetic Acid Market: Key Industry Highlights, 2023 and 2032
- Table 4: Global: Acetic Acid Market Forecast: Breakup by Region (in Million Tons), 2024-2032
- Table 5: Global: Acetic Acid Market Forecast: Breakup by Application (in Million Tons), 2024-2032
- Table 6: Global: Acetic Acid Market Forecast: Breakup by End-Use (in Million Tons), 2024-2032
- Table 7: Global: Acetic Acid Market: Imports by Major Countries
- Table 8: Global: Acetic Acid Market: Exports by Major Countries
- Table 9: Global: Acetic Acid Market: Competitive Structure
- Table 10: Acetic Acid Manufacturing: Raw Materials Required
- Table 11: Global: Methanol Market: Production Capacity of Key Players
