Acetic Acid Market is Projected to Witness Remarkable Growth by 2022 | Hexa Research

February 26 23:30 2019

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Research Report on Acetic Acid Market Size, Share, Analysis, Outlook, Key Players, Research and Forecasts – 2022

26 February 2018
According to a recent study conducted by Hexa Research, global acetic acid market will be valued at more than $13 billion in 2022. Growing demand for applications like Purified Terephthalic Acid (PTA) and Vinyl Acetate Monomer (VAM) will contribute to this growth. PTA is increasingly being consumed for manufacturing polyester, which is an important constituent of the textile and packaging industries. PTA is expected to witness the fastest growth with a CAGR of more than 4.9% from 2015 to 2022. The total global acetic acid demand for PTA was more than 2,450 kilo tons in 2014, which is likely to rise to more than 3,750 kilo tons in 2020.

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VAM is utilized in the manufacture of chemicals like EVA and EVAC. There is growing consumption of these chemicals in the solvents and adhesives industry, leading to rising demand for VAM. Demand for acetic acid in VAM was more than 3,500 kilo tons in 2014. This application segment is expected to grow at a CAGR of more than 3.9% from 2015 to 2022. VAM will be increasingly demanded by developing economies like China, India and Brazil, consequently leading to growth of acetic acid market in future.

Hexa Research observed that China led the global acetic acid market in 2012 with a share of more than 39% of volumes. A strong manufacturing base and possible expansion of the same in future will contribute to China retaining its market leadership. Asia Pacific followed China in terms of market share, with key demand emerging from India and Japan. The acetic acid industry in Asia is likely to grow at a CAGR of more than 10% from 2015 to 2022.

Hexa Research identifies Celanese, BP, DuPont, Eastman Chemicals, BASF, Wacker Chemie and Jiangsu Sopo (Group) Co., Ltd., among others, to be the key participants in the global acetic acid market. The industry showcases a fragmented nature with several manufacturers operating at varied levels of capacities.

Browse Related Reports:
Citric Acid Market : The global citric acid market is expected to reach USD 5.73 billion by 2024 driven by its increasing use in food & beverages and household detergents & cleaners
Cellulose Acetate Butyrate Market: The global cellulose acetate butyrate market is anticipated to reach USD 997.8 million by 2025, driven by the growing consumer demand for paints & coatings, lacquers, and printing inks.

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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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