The acetic acid global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Acetic Acid Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The acetic acid market size has grown strongly in recent years. It will grow from <b>$15.33 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. </b> The growth in the historic period can be attributed to chemical industry growth, textile and fiber production, surface coating applications, widespread use in pharmaceuticals, paper and pulp processing, rise in water treatment needs.
The acetic acid market size is expected to see strong growth in the next few years. It will grow to <b>$20.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. </b> The growth in the forecast period can be attributed to bio-based acetic acid production, rising demand for ethyl acetate, growth in packaging industry, focus on green chemistry, demand for acetic anhydride, increasing use in automotive coatings. Major trends in the forecast period include investments in research and development, consolidation and mergers & acquisitions, advancements in food preservation technologies, global economic trends and trade dynamics, collaborations and partnerships.
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Scope Of Acetic Acid Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Acetic Acid Market Overview
Market Drivers –
Rising expansion in the textile sector is expected to boost the growth of the acetic acid market going forward. The textile industry involves research, design, development, manufacturing, and distribution of textiles, fabrics, and clothing. In the textile industry, acetic acid is used in producing rayon, the majority of latex, and artificial materials, as well as for fabric dyeing. For instance, according to the report published in 2022 by Royale International, a Hong Kong-based provider of logistics solutions and international courier services, the predicted size of the global textile market in 2021 was $993.6 billion. In 2022, that market was projected to grow to $1,032.1 billion. Therefore, the rising expansion of the textile sector is driving the growth of the acetic acid market.
Market Trends –
Major companies operating in the acetic acid market are focused on producing sustainable solutions, such as new green ethanol-based acetic acid, to drive their revenues in the market. Green ethanol-based acetic acid is a type of acetic acid that is produced from bio-based ethanol, adhering to the principles of green chemistry. For instance, in April 2022, Jubilant Ingrevia Limited, an India-based chemical company, announced the commissioning of its new green ethanol-based food-grade acetic acid plant at its manufacturing facility in India to cater to the increasing demand in the food preservative segment across the globe. The natural bio-based feedstock used to make green ethanol will be used in the product’s manufacturing process. When it comes to food preservation needs, it will offer a more healthful choice than acetic acid made from petroleum.
The acetic acid market covered in this report is segmented –
1) By Sales Channel: Direct Company Sale, Direct Import, Distributors and Traders, Retailers
2) By Application: Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, Other Applications
3) By End-Use: Food and beverages, Paints and coating, Plastics and Polymers, Pharmaceutical, Chemicals, Other End-Uses
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Regional Insights –
Asia-Pacific was the largest region in the acetic acid market analysis in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the acetic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the acetic acid market report are Eastman Chemical Company, LyondellBasell Industries NV, Daicel Corporation, Shanghai Huayi Group Corporation Limited, Celanese Corporation, BP plc, Saudi Basic Industries Corporation (SABIC), HELM AG, Airedale Chemical Company Limited, Indian Oil Corporation Limited, Wacker Chemie AG, DuPont de Nemours Inc., Mitsubishi Chemical Corporation, Showa Denko K.K., Kingboard Chemical Holdings Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Jubilant Life Sciences Limited, China Petroleum & Chemical Corporation (Sinopec), PetroChina Company Limited, Jiangsu Danhua Group Co. Ltd., Chang Chun Group, Chongqing Chuandong Chemical (Group) Co. Ltd., China National Chemical Corporation, Yankuang Cathay Coal Chemicals Co. Ltd., Sinochem Group, Sichuan Vinylon Works, Shandong Yankuang Group Co. Ltd., Sasol Limited, Saudi International Petrochemical Company, Solvay SA, Kuraray Co. Ltd., The Procter & Gamble Company
Table of Contents
1. Executive Summary
2. Acetic Acid Market Report Structure
3. Acetic Acid Market Trends And Strategies
4. Acetic Acid Market – Macro Economic Scenario
5. Global Acetic Acid Market Size and Growth
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31. Global Acetic Acid Market Competitive Benchmarking
32. Global Acetic Acid Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Acetic Acid Market
34. Acetic Acid Market Future Outlook and Potential Analysis
35. Appendix
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