Acetic acid market size is set to grow by 5,379.71 thousand tons from 2022

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02 Jun, 2023, 06:15 ET

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NEW YORK, June 2, 2023 /PRNewswire/ -- The global acetic acid market size is estimated to grow by 5,379.71 thousand tons from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.39%. The growth momentum will be progressing during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 30%. Due to the rising demand for acetic acid across many industries, APAC is expected to have the largest share in the global market during the forecast period. Pharmaceuticals, polymers, food packaging, plastics, and the apparel industries all use acetic acid and its derivatives such as cellulose acetate. During the forecast period, the demand for acetic acid in the region is likely to be driven by the use of PTA and acetic anhydride in various applications. Acetic anhydride is primarily consumed in China and India in APAC. During the forecast period, increased cigarette consumption is likely to result in increased production of cellulose acetate, which is used to make cigarette filters.

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What's New?

Acetic acid market - Segmentation assessmentSegment overviewTechnavio has segmented the market based on Application (VAM, PTA, Acetic anhydride, and Others), End-user (Plastics and polymers, Food and beverages, Ink paints and coatings, Chemicals, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa).

Insights on the market contribution of various segments including country and region wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Acetic acid market – Market dynamics

Key driver

Growing paints and coatings industry -

Key trend

Development of bio-based acetic acid -

Major challenge

Fluctuations in acetic prices due to plant shutdowns -

Insights on market drivers, trends, and challenges, historic period (2017 to 2021) and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this Acetic Acid Market report?

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Acetic Acid Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.39%

Market growth 2023-2027

5,379.71 thousand tons

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.13

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 30%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Airedale Chemical Co. Ltd., Ashok Alco Chem Ltd., BP Plc, Celanese Corp., Daicel Corp., DubiChem Marine International, Eastman Chemical Co., GNFC Ltd., HELM AG, Indian Oil Corp. Ltd., INEOS Group Holdings SA, Jiangsu Sopo Corp. Ltd., Kingboard Holdings Ltd., Lonza Group Ltd., LyondellBasell Industries NV, Pentokey Organy (India) Ltd., Saudi Basic Industries Corp., Shandong Hualu Hengsheng Chemical Co. Ltd., Shanghai Huayi Fine Chemical Co. Ltd., and Dow Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents -

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com

SOURCE Technavio