The Europe Acetic Acid Market should witness market growth of 5.2% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 1,771.1 Kilo Tonnes, showcasing a growth of 1.2% (2019-2022).
Acetic acid is a simple carboxylic acid best known as the primary component in vinegar apart from water. It's a colorless liquid with a pungent, vinegary smell and is highly soluble in water. It is a versatile chemical with numerous applications in various industries. It remains an essential chemical in modern enterprise, and its demand continues to rise in multiple sectors. The most well-known application of acetic acid is in the food industry, where it's used to produce vinegar. Vinegar is a dilute solution of acetic acid in water, typically ranging from 4% to 8% acetic acid by volume. It's used for cooking, baking, pickling, and condiments.
Acetic acid is used in the production of synthetic fibers. Purified terephthalic acid (PTA), a precursor for polyethylene terephthalate (PET) fibers and resins, is produced from acetic acid. This acid is also used in the production of various plastics. Vinyl acetate monomer (VAM), synthesized using acetic acid, is a crucial precursor for producing polyvinyl acetate and polyvinyl alcohol. These are used in paints, adhesives, and films. It is employed as a raw material as well as a solvent in various chemical reactions. For instance, it's used to produce acetate esters, which are used as solvents for inks, paints, and coatings. Also, acetic acid is used in various chemical reactions and as a solvent in the pharmaceutical industry during specific processes.
The European market, embedded within the broader industrial fabric of the continent, has consistently been an influential actor on the global stage. As one of the epicenters of industrial activity and innovation, Europe's relationship with acetic acid is multifaceted and evolving, informed by technological advances, regulatory landscapes, and shifting market dynamics. Leading academic institutions and corporate research labs are tirelessly exploring next-generation production methods, diving into the potential of bio-based acetic acid and probing new applications that align with sustainability principles. As market dynamics ebb and flow, the commitment to adaptability and sustainability will steer Europe's market in the coming years.
The Germany market dominated the Europe Acetic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $949.3 million by 2029. The Russia market is anticipated to grow at a CAGR of 4.3% during (2023-2030). Additionally, The UK market would showcase a CAGR of 6.1% during (2023-2030).
Based on Type, the market is segmented into Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, and Others. Based on countries, the market is segmented into Germany, Russia, UK, France, Italy, Netherlands, Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eastman Chemical Company, Celanese Corporation, The Dow Chemical Company (Dow Corning Ltd.), Indian Oil Corporation Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited, Daicel Corporation, Airedale Chemical Holdings Limited, Helm AG, SABIC (Saudi Arabian Oil Company), and LyondellBasell Industries Holdings B.V.
Acetic acid is a simple carboxylic acid best known as the primary component in vinegar apart from water. It's a colorless liquid with a pungent, vinegary smell and is highly soluble in water. It is a versatile chemical with numerous applications in various industries. It remains an essential chemical in modern enterprise, and its demand continues to rise in multiple sectors. The most well-known application of acetic acid is in the food industry, where it's used to produce vinegar. Vinegar is a dilute solution of acetic acid in water, typically ranging from 4% to 8% acetic acid by volume. It's used for cooking, baking, pickling, and condiments.
Acetic acid is used in the production of synthetic fibers. Purified terephthalic acid (PTA), a precursor for polyethylene terephthalate (PET) fibers and resins, is produced from acetic acid. This acid is also used in the production of various plastics. Vinyl acetate monomer (VAM), synthesized using acetic acid, is a crucial precursor for producing polyvinyl acetate and polyvinyl alcohol. These are used in paints, adhesives, and films. It is employed as a raw material as well as a solvent in various chemical reactions. For instance, it's used to produce acetate esters, which are used as solvents for inks, paints, and coatings. Also, acetic acid is used in various chemical reactions and as a solvent in the pharmaceutical industry during specific processes.
The European market, embedded within the broader industrial fabric of the continent, has consistently been an influential actor on the global stage. As one of the epicenters of industrial activity and innovation, Europe's relationship with acetic acid is multifaceted and evolving, informed by technological advances, regulatory landscapes, and shifting market dynamics. Leading academic institutions and corporate research labs are tirelessly exploring next-generation production methods, diving into the potential of bio-based acetic acid and probing new applications that align with sustainability principles. As market dynamics ebb and flow, the commitment to adaptability and sustainability will steer Europe's market in the coming years.
The Germany market dominated the Europe Acetic Acid Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $949.3 million by 2029. The Russia market is anticipated to grow at a CAGR of 4.3% during (2023-2030). Additionally, The UK market would showcase a CAGR of 6.1% during (2023-2030).
Based on Type, the market is segmented into Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, and Others. Based on countries, the market is segmented into Germany, Russia, UK, France, Italy, Netherlands, Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eastman Chemical Company, Celanese Corporation, The Dow Chemical Company (Dow Corning Ltd.), Indian Oil Corporation Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited, Daicel Corporation, Airedale Chemical Holdings Limited, Helm AG, SABIC (Saudi Arabian Oil Company), and LyondellBasell Industries Holdings B.V.
Scope of the Study
By Type (Volume, Kilo Tonnes, USD Million, 2019-2030)
- Vinyl Acetate Monomer
- Acetic Anhydride
- Acetate Esters
- Purified Terephthalic Acid
- Ethanol
- Others
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
- Germany
- Russia
- UK
- France
- Italy
- Netherlands
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Eastman Chemical Company
- Celanese Corporation
- The Dow Chemical Company (Dow Corning Ltd.)
- Indian Oil Corporation Ltd.
- Gujarat Narmada Valley Fertilizers & Chemicals Limited
- Daicel Corporation
- Airedale Chemical Holdings Limited
- Helm AG
- SABIC (Saudi Arabian Oil Company)
- LyondellBasell Industries Holdings B.V.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a Glance
Chapter 3. Market Overview
Chapter 4. Europe Acetic Acid Market by Type
Chapter 5. Europe Acetic Acid Market by Country
Chapter 6. Company Profiles
Companies Mentioned
- Eastman Chemical Company
- Celanese Corporation
- The Dow Chemical Company (Dow Corning Ltd.)
- Indian Oil Corporation Ltd.
- Gujarat Narmada Valley Fertilizers & Chemicals Limited
- Daicel Corporation
- Airedale Chemical Holdings Limited
- Helm AG
- SABIC (Saudi Arabian Oil Company)
- LyondellBasell Industries Holdings B.V.
Methodology
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