Acetic Acid Market, By Use Case (Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Ethanol, Others), By End-Use (Food and beverages, Paints and coating, Pharmaceutical, Chemicals, Others), By Region - Global Analysis Forecast Till 2030

The global acetic acid market was at USD 22.5 billion in 2021, and it is going to be worth USD 35.2 billion by the end of 2030, with a CAGR of 6.18% from 2022 to 2030.

Acetic acid (CH3COOH), also referred to as ethanoic acid, is a colorless organic chemical with a pungent, harsh, and sour odor. It is a major chemical reagent and industrial chemical used in producing volatile organic esters such as ethyl and butyl acetates, vinyl acetate, cellulose acetate, and metal acetates. The growing use of acetic acid in making terephthalic acid is expected to increase the acetic acid market growth. Terephthalic acid is an essential building component in producing polyester resins, widely used in polyester films, PET resins, and polyester fibers. Terephthalic acid is also used to manufacture textiles such as bed sheets.

Market Dynamics 

Drivers

Acetic acid, also called ethanoic acid, is frequently used to produce vinyl and metal acetate, which are then used to produce chemical reagents for textiles, photographic films, paints, and volatile organic esters. Acetic acid is a common component used in the textile industry for printing and dyeing. The US Department of Commerce reports that from January to September 2021, clothing shipments increased by 28% to US $4.5 billion, while textile mill exports increased by 17% to US 12 billion.

Restraints

Fluctuating raw material costs

In the acetic acid market, fluctuating raw material costs have been identified as a significant barrier. As a result, alumina producers are experiencing fluctuations in their profit margins, making it difficult to plan for growth. Irrationality in development strategies will undoubtedly stifle acetic acid market growth.

Key players:

• Eastman Chemical Company,

• Celanese Corporation,

• LynodellBasell Industries Holding B.V.,

• SABIC, Indian Oil Corporation Ltd,

• Gujrat Narmada Valley Fertilizers & Chemicals Limited,

• Pentokey Organy,

• Ashok Alco Chem Limited,

• DAICEL CORPORATION,

• The Dow Chemical Product,

Market Segmentation:

Acetic Acid Market, By Application

• Vinyl Acetate Monomer

• Acetic Anhydride

• Acetate Esters

• Ethanol

• Others

Acetic Acid Market, By End-Use

• Food and beverages

• Paints and coating

• Pharmaceutical

• Chemicals

• Others

Acetic Acid Market, By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Regional Analysis

Asia-Pacific consumes the most acetic acid products due to the region's large population and market growth. The region is expected to grow healthy over the forecast period due to market developments and increasing end-users. North America is the second largest consumer of acetic acid products, with moderate growth expected due to slowing economic growth over the forecast period.

Europe is also expected to grow moderately, with central and eastern Europe growing slightly faster. The Latin American market will grow positively over the forecast period, owing to the region's improving socioeconomic conditions. Due to rising disposable income and a growing middle class, the Middle East and Africa region accounted for less than X.X% of global acetic acid product consumption. Acetic Acid Market is expected to grow moderately to rapidly over the forecast period.

Scope of the Report:

User

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