Global Acetyls Market: Demand Analysis and Growth Forecast
Acetyls are the organic compounds with functional groups, and also known as Ethanoyl. The acetyl group contains a methyl group which is single bonded to the carbonyl. It comprises of organic compounds such as acetic acid, acetyl-CoA, acetylcholine, and acetylsalicylic acid.
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(2018 - 2023)
The demand for acetyls in coatings, dye, food and beverages, paint, and pharmaceuticals industries are the primary drivers of the acetyls market. In the pharmaceutical industry, acetyls find applications in the manufacturing of drugs like aspirin, Paracetamol, and some others. Based on new applications for acetyls in various end-user industries, IndustryARC report projects profitable growth of the acetyls market through market analysis for the forecast period of 2018 - 2023.
Acetyls Market: Key Drivers and Disruptive Trends
- Increasing usage of ester solvents such as glues and nail polish
- Rising demand for purified terephthalic acid in making clothes and plastic bottles
- Growing consumption of adhesives in the packaging industry is driving the demand for vinyl acetate polymer market
- The growth in the use of photovoltaic cells, which generates electric power
- Growing usage of acetic anhydride as a solubilizing agent in dyes and pigments
Acetyls Market: Leading Segments
Based on product, the acetyls market can be classified into acetic acid, acetic anhydride, vinyl acetate, ethylene acetate, ethylene vinyl acetate, butyl acetate, and some other acetyls. Based on end-use industry, it can be bifurcated into food and beverages, oil & gas, pharmaceutical, paints, inks, waxes and coatings, furniture, and other end-use industries.
Global Acetyls Market: Competitive Landscape
British Petroleum Plc, Celanese Corporation, DuPont, Eastman Chemical Company, Helm AG, Jubilant Life Sciences, and Wacker Chemie AG are some of the key players operating in the acetyls market. British Petroleum Plc offers acetic acid which is used in almost every industry today. It is colorless, corrosive, and flammable liquid with a minimum 99.85 percent purity and freezes at 16.35 degree Celsius. Eastman Chemical Company is one of the global leaders in producing acetyls, which includes acetic anhydride, acetic acid, and cellulose esters. Eastman operates on coal gasification and carbonylation technology which is used to make acetic anhydride, methyl acetate, and methanol.
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Acetyl is a component of acetic acid, acetyl-CoA, acetylcholine and acetylsalicylic acid. Growing usage of acetic anhydride in the pharmaceutical industry is increasing the demand for acetyls and augurs well for the future market of the same.
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