The acetic acid market is poised for healthy returns in the near future, according to the findings of a recent business study by IndustryARC. The analyst of the report estimates the global acetic acid market size at $9 billion in 2018, and projects the acetic acid market demand to grow at a CAGR of around 4% during the forecast period of 2019 to 2025. The report is titled “Acetic Acid Market: by forms (liquid, solid); by application (Easter production, vinegar, vinyl acetate monomer, purified terephathalic acid, acetic anhydride, Ph regulation agents, photochemical); by industry (electroplating, laboratory chemicals, and others) & geography - forecast (2019 - 2025).”
Browse 63 Market Tables, 177 Figures spread through 159 slides and an in-depth TOC “Acetic Acid Market (2019 - 2025)”
Global Acetic Acid Market: Leading Segments
APAC is identified as the key region in terms of growth potential among all regions wherein acetic acid marketplace gains demand, contributing a share of more than 30% as of 2018. The growth rate is increasing in this region because of rapid industrialization and surge in the construction industry. The surge in the construction industry, especially in countries such as China and India is influencing the purchase size of paints and coatings, which are made by using polyvinyl acetate monomer.
Analyst of the report says that the textile industry is currently the key end use industry segment, dominating among other diverse applications in industries such as electroplating and chemical laboratories; it is estimated to grow with a good CAGR of around 6% during the forecast period 2019-2025. Acetic acid is used as a buffering agent in dyeing the cloth with a particular color. Glacial acetic acid is the most commonly used organic acid to print various designs on clothes in the textile industry.
Global Acetic Acid Market Analysis
According to World Health Organization, cancer is a primary cause of death globally accounting for an estimated 9.6 million deaths in 2018. Between 30–50% of cancers can currently be averted by using prevention strategies, such as screening method, in which visual inspection with acetic acid for cervical cancer is prevented in low income settings. The increasing usage of vinyl acetate monomer (VAM), polyvinyl acetate in paints and coatings is another major factor driving the growth of the acetic acid market during the forecast period.
Acetic acid is a synthetic carboxylic acid, which adds sour taste and pungent smell to vinegar. The various uses of acetic acid includes the production of plastic soft drink bottles, photographic film, polyvinyl acetate for wood glue, and many synthetic fibers and fabrics. The diluted acetic acid is often used as a cleaning agent in household, and hospitals. It is also used as an acidity regulator in the food industry.
Global Acetic Acid Market: Trends
- WHO states that there were more than 1.9 billion adults, out of which over 650 million were obese, which reflects another significant demand potential for acetic acids. Consumption of acetic acid activates genes which are responsible for producing proteins, and also helps in breaking down the body fats.
- Development of bio based acetic acid, as many end users prefer alternatives to fossil based raw materials. Bio based acetic acid can be produced by fermenting corn starch and cheese whey surplus or as a derivative of the sulfite wood pulping process.
- The increasing usage of acetic acid in agriculture industry for the treatment of bio synthesis and accumulation of gamma-aminobutyric acid in rice plants is elevating acetic acid market growth. Rice seedlings which were died from drought cannot be rescued by watering, but pre-treatment with exogenous acetic acid has enabled the plants to produce shoots again after being watered.
Global Acetic Acid Market: Competitive Landscape
Some of the major players operating in the global acetic acid market are BP Plc., Celanese Corporation, DuPont Corporation, and Eastman Chemical Co. BP and Lotte have agreed a major expansion of petro chemical production at their joint venture Lotte BP Chemical Company Limited in Ulsan, South Korea. This expansion is projected to produce large amount of 100,000 tonnes per year of acetic acid by May 2019 through debottlenecking process which can be used by various end use industries.
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Organic Acids Market: By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Prop ionic Acid, Fumaric Acid & Others) & By Geography - Forecast(2018 - 2023)
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