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Acetic Acid Market Report and Industry Analysis,
2017 – 2024: Global Market Insights Inc.
Acetic Acid industry analysis is covered in this latest research report that aims to
help those taking daily business decisions by providing market trends information,
competitive landscape scenario, forecasts and more. Acetic Acid Market size will
cross USD 16 billion by 2024 according to a new research report by Global Market
The acetic acid market will witness substantial gains due to increased demand in the
manufacturing of purified terephthalic acid (PTA) and vinyl acetate monomer (VAM).
It is majorly consumed in producing photographic chemicals, diketene, camphor, and
mono chloroacetic acid that drives its market. Global chemical industry was above
USD 5 trillion in 2013, its size has almost doubled in the last decade. This, positive
outlook of chemical industry will boost product’s consumption.
Acetic acid is used as a raw material in an array of downstream chemicals. Vinegar
is one such chemical, commonly used for cooking, and has recently developed as a
food ingredient. Consumer awareness related to health benefits by consumption of
vinegar in recommended quantity is rising its demand in food items. The global food
market will grow at a CAGR of above 4% till 2024, escalating food industry and
vinegar usage in these products will complement acetic acid market growth.
Certain health hazards and operational snags associated with the acid are irritation
to skin, corrosive to metals, reduced performance at low temperature, and
decreased compatibility with quarts. Further, fluctuating methanol prices, a major raw
material for formulation of the acid leads to unstable acetic acid market price trend.
Acetic anhydride had a size of more than 1,400 kilo tons in 2016 in acetic acid
market. Its extensive applications are in the production of medicines such as
acetaminophen and aspirin. It is consumed in producing modified starches, that act
as a food preservative as it is stable against mild acids and heat. These starches are
ingredients of food products viz muesli bars, mayonnaises, sauces, flavored
toppings, cake mixes, frozen cakes, ice-cream and frozen foods.
China accounted above 35% share in terms of consumption in 2016 and will
maintain its significance till 2024. China acetic acid market growth is attributed to its
flourishing industrial sectors of polymers, food products, chemicals, and adhesives.
The country exports the acid to a limited extent as major produce gets consumed
Europe had a size of above USD 1.4 billion in 2016 in the acetic acid market.
Flourishing frozen food market in Spain, Italy and Germany will increase compound’s
demand as a food preservative.
Europe Acetic Acid Market size, by application, 2013 - 2024 (USD Million)
The market is fragmented in nature with small and medium scale manufacturers
including Saudi International Petrochemicals, Wacker Chemie, DuPont, Sinopec,
PetroChina, LyondellBasell Industries, HELM AG, GNFC Limited, Daicel
Corporation, and Mitsubishi Chemical. Major companies dominating the market are
Sopo, Celanese, Eastman Chemicals and Bharat Petroleum.
Producers are developing bio-based acetic acid to achieve a competitive edge. For
instance, In March 2010, Wacker Chemie started its bio-based acetic acid plant in
Germany, having an annual capacity of 500 tons. It is indulged in developing new
techniques of producing the product such as converting butanediol to ketone and
ultimately acetic acid, or formulating acetate from biomass.
The industry will witness some consolidation in future owing to mergers and
acquisition. For instance, In 2011, Eastman acquired Sterling Chemical’s acetic acid
production division. Companies are indulged in purchasing shares of other
organizations such as Saudi International Petrochemical Company planned to
acquire equities of International Acetyl Company, Ikarus Petroleum Industries
Company and International Vinyl Acetate Company.
Segmentation of Acetic Acid Market:
Acetic acid market research report includes an in-depth coverage of the industry with
estimates & forecast in terms of volume in kilotons & revenue in USD from 2013 to
2024, for the following segments:
Acetic Acid Market By Application
Vinyl acetate monomer
The above information is provided on a regional and country basis for the following:
• South Africa
Browse Related Report:
Itaconic Acid Market Size By Application (Synthetic Latex, Superabsorbent
Polymers, Chelant Dispersant Agents, Unsaturated Polyester Resins,
(Polyitaconic Acid, Unsaturated Esters, 2-methyl-1,4-BDO, 3-methyl-THF),
Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany,
UK, France, Italy, Spain, Austria, Sweden, Russia, China, India, Japan,
Australia, Thailand, South Korea, Brazil, Argentina, South Africa, UAE, Saudi
Arabia), Growth Potential, Price Trend, Competitive Market Share & Forecast,
2016 – 2024
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
research and consulting service provider; offering syndicated and custom research
reports along with growth consulting services. Our business intelligence and industry
research reports offer clients with penetrative insights and actionable market data
specially designed and presented to aid strategic decision making. These exhaustive
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