Quick Summary:
In the burgeoning world of the global acetic acid market, understanding the driving factors, key players, and future trends is of utmost importance for intelligent decision-making. Acetic acid, an organic compound with a pungent smell, serves as one of the most essential chemical reagents and industrial chemicals. Its versatile application across different industries such as coatings, greases, polyesters, and sealed industries, include influential sectors like electronics, automobiles, textiles, and packaging.
Furthermore, acetic acid plays a crucial role in the manufacturing of increasingly popular PET bottles, thereby directly influencing growth in the medical and consumer goods sectors. Simultaneously, the ongoing innovation and adoption of emerging technologies for efficient and cost-effective acetic acid production corroborates the market’s positive outlook. Understanding these critical market dynamics and other insightful data through the in-depth research presented in this report will empower you to carve a successful path in the acetic acid industry.
The global acetic acid market size reached US$ 11.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 16.1 Billion by 2028, exhibiting a CAGR of 6.24% during 2022-2028.
Acetic acid (CH3COOH), also known as ethanoic acid or methane carboxylic acid, refers to a colorless organic compound which has a strong, sour and pungent smell. It is one of the most important chemical reagents and industrial chemicals that is employed in the production of metal acetates, vinyl acetate, cellulose acetate, and volatile organic esters like ethyl and butyl acetates. Apart from this, the diluted form of acetic acid, produced by the fermentation and oxidation of natural carbohydrates, is widely used as a cleaning agent in households.
Presently, polyethylene terephthalate (PET) bottles are gaining popularity in the medical and consumer goods sectors as they are lightweight and recyclable in nature. As PET bottles are manufactured by using purified terephthalic acid (PTA), produced from acetic acid, their mounting demand is catalyzing the growth of the market.
A rise has been witnessed in the consumption of vinegar as it helps in reducing weight, maintaining blood pressure, and regulating blood sugar and cholesterol levels. As acetic acid is used in the manufacturing of vinegar, it is impelling the overall growth of the market.
Manufacturers of acetic acid are increasingly adopting new technologies like BP's Cativa and Celanese's AO-plus (Acid Optimization Plus) which deliver significant savings in variable costs, as well as lower capital costs for the construction of new plants. Besides this, they also increase the capacity, enhance the production efficiency, reduce the energy consumption by approximately 30% and lower operating costs. The increasing adoption of these emerging technologies for producing the chemical and its derivatives is creating a positive outlook for the growth of the industry.
2. What is the expected growth rate of the global acetic acid market during 2023-2028?
3. What are the key factors driving the global acetic acid market?
4. What has been the impact of COVID-19 on the global acetic acid market?
5. What is the breakup of the global acetic acid market based on the application?
6. What is the breakup of the global cheese market based on the end-use?
7. What are the key regions in the global acetic acid market?
8. Who are the key players/companies in the global acetic acid market?
Acetic acid (CH3COOH), also known as ethanoic acid or methane carboxylic acid, refers to a colorless organic compound which has a strong, sour and pungent smell. It is one of the most important chemical reagents and industrial chemicals that is employed in the production of metal acetates, vinyl acetate, cellulose acetate, and volatile organic esters like ethyl and butyl acetates. Apart from this, the diluted form of acetic acid, produced by the fermentation and oxidation of natural carbohydrates, is widely used as a cleaning agent in households.
Global Acetic Acid Market Drivers:
Acetic acid is used in the manufacturing of coatings, greases, polyesters and sealants which find applications in a number of industries such as electronics, automobiles, textiles, and packaging.Presently, polyethylene terephthalate (PET) bottles are gaining popularity in the medical and consumer goods sectors as they are lightweight and recyclable in nature. As PET bottles are manufactured by using purified terephthalic acid (PTA), produced from acetic acid, their mounting demand is catalyzing the growth of the market.
A rise has been witnessed in the consumption of vinegar as it helps in reducing weight, maintaining blood pressure, and regulating blood sugar and cholesterol levels. As acetic acid is used in the manufacturing of vinegar, it is impelling the overall growth of the market.
Manufacturers of acetic acid are increasingly adopting new technologies like BP's Cativa and Celanese's AO-plus (Acid Optimization Plus) which deliver significant savings in variable costs, as well as lower capital costs for the construction of new plants. Besides this, they also increase the capacity, enhance the production efficiency, reduce the energy consumption by approximately 30% and lower operating costs. The increasing adoption of these emerging technologies for producing the chemical and its derivatives is creating a positive outlook for the growth of the industry.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global acetic acid market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application and end-use.Breakup by Application:
- VAM
- PTA
- Anhydride
- Ethyl Acetate
- Butyl Acetate
- Others
Breakup by End-Use:
- Plastics & Polymers
- Food & Beverage
- Inks, Paints & Coatings
- Chemicals
- Pharmaceuticals
- Others
Regional Insights:
- China
- North America
- Western/Eastern Europe
- North East Asia
- South East Asia
- Middle East & Africa
Competitive Landscape:
The market is fragmented in nature with the presence of a large number of players who compete against each other in terms of prices and quality. Some of the leading players operating in the market include:
- British Petroleum Plc
- Celanese Corporation
- Daicel Corporation
- Eastman Chemical Company
- GNFC Limited
- HELM AG
- LyondellBasell Industries N.V.
- Mitsubishi Chemical Corporation
- PetroChina
- SABIC
- Showa Denko K.K.
- Sinopec
- Svensk Etanolkemi AB (SEKAB)
- Wacker Chemie AG
The essential aspects of the global acetic acid market evaluated in the report include:
- Market trends
- Major regions
- Impact of COVID-19
- Key application areas
- Major End-Use Industries
- Key manufacturers
- Price trends
- Raw material requirements
- Chemical reactions involved in the manufacturing process
- Major importers and exporters
Value chain analysis
- Market trends for major feedstocks
- Price trends for major feedstocks
- Key regions for major feedstocks
- Key players for major feedstocks
Key Questions Answered in This Report
1. What was the size of the global acetic acid market in 2022?2. What is the expected growth rate of the global acetic acid market during 2023-2028?
3. What are the key factors driving the global acetic acid market?
4. What has been the impact of COVID-19 on the global acetic acid market?
5. What is the breakup of the global acetic acid market based on the application?
6. What is the breakup of the global cheese market based on the end-use?
7. What are the key regions in the global acetic acid market?
8. Who are the key players/companies in the global acetic acid market?
Frequently Asked Questions about the Acetic Acid Market
What is the estimated value of the Acetic Acid Market?
What is the growth rate of the Acetic Acid Market?
What is the forecasted size of the Acetic Acid Market?
Who are the key companies in the Acetic Acid Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 108 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 11.2 Billion |
| Forecasted Market Value ( USD | $ 16.1 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
Table of Contents
1 Preface2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Properties
4.3 Key Industry Trends
5 Global Acetic Acid Industry
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Price Trends
5.5 Market Breakup by Region
5.6 Market Breakup by Application
5.7 Market Breakup by End-Use
5.8 Market Forecast
5.9 SWOT Analysis
5.9.1 Overview
5.9.2 Strengths
5.9.3 Weaknesses
5.9.4 Opportunities
5.9.5 Threats
5.10 Value Chain Analysis
5.10.1 Raw Material Procurement
5.10.2 Manufacturing
5.10.3 Marketing
5.10.4 Distribution
5.10.5 Exports
5.10.6 End-Use
5.11 Porter’s Five Forces Analysis
5.11.1 Overview
5.11.2 Bargaining Power of Buyers
5.11.3 Bargaining Power of Suppliers
5.11.4 Degree of Competition
5.11.5 Threat of New Entrants
5.11.6 Threat of Substitutes
5.12 Trade Data
5.12.1 Imports
5.12.2 Exports
5.13 Key Market Drivers and Success Factors
6 Market Breakup by Region
6.1 China
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 North America
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Western/Eastern Europe
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 North East Asia
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 South East Asia
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Middle East & Africa
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Application
7.1 VAM
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 PTA
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Anhydride
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Ethyl Acetate
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Butyl Acetate
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by End-Use
8.1 Plastics & Polymers
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Food & Beverage
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Inks, Paints & Coatings
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Chemicals
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Pharmaceuticals
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Competitive Landscape
9.1 Market Structure
9.2 Market Breakup by Key Players
9.3 Profiles of Major Players
9.3.1 British Petroleum Plc
9.3.2 Celanese Corporation
9.3.3 Daicel Corporation
9.3.4 Eastman Chemical Company
9.3.5 GNFC Limited
9.3.6 HELM AG
9.3.7 LyondellBasell Industries N.V.
9.3.8 Mitsubishi Chemical Corporation
9.3.9 PetroChina
9.3.10 SABIC
9.3.11 Showa Denko K.K.
9.3.12 Sinopec
9.3.13 Svensk Etanolkemi AB (SEKAB)
9.3.14 Wacker Chemie AG
10 Acetic Acid Manufacturing Process
10.1 Product Overview
10.2 Chemical Reactions Involved
10.3 Detailed Process Flow
10.4 Raw Material Requirement
10.5 Mass Balance and Feedstock Conversion Rate
11 Acetic Acid: Feedstock Analysis
11.1 Methanol
11.1.1 Market Performance
11.1.1.1 Volume Trend
11.1.1.2 Value Trend
11.1.2 Price Trend
11.1.3 Market Breakup by Region
11.1.4 Key Suppliers
11.2 Carbon Monoxide
11.2.1 Market Performance
11.2.1.1 Volume Trend
11.2.1.2 Value Trend
11.2.2 Price Trend
11.2.3 Key Suppliers
List of Figures
Figure 1: Global: Acetic Acid Market: Major Drivers and Challenges
Figure 2: Global: Acetic Acid Market: Production Volume Trends (in Million Tons), 2017-2022
Figure 3: Global: Acetic Acid Market: Production Value Trends (in Billion US$), 2017-2022
Figure 4: Global: Acetic Acid Market: Average Prices (in US$/Ton), 2017-2022
Figure 5: Acetic Acid Market: Price Structure
Figure 6: Global: Acetic Acid Market: Breakup by Region (in %), 2022
Figure 7: Global: Acetic Acid Market: Breakup by Application (in %), 2022
Figure 8: Global: Acetic Acid Market: Breakup by End-Use (in %), 2022
Figure 9: Global: Acetic Acid Market Forecast: Production Volume Trends (in Million Tons), 2023-2028
Figure 10: Global: Acetic Acid Market Forecast: Production Value Trends (in Billion US$), 2023-2028
Figure 11: Global: Acetic Acid Market Forecast: Average Prices (in US$/Ton), 2023-2028
Figure 12: Global: Acetic Acid Industry: SWOT Analysis
Figure 13: Global: Acetic Acid Industry: Value Chain Analysis
Figure 14: Global: Acetic Acid Industry: Porter’s Five Forces Analysis
Figure 15: Global: Acetic Acid Market: Import Volume Breakup by Country (in %)
Figure 16: India: Acetic Acid Market: Import Volume Trend (in Tons)
Figure 17: Global: Acetic Acid Market: Export Volume Breakup by Country (in %)
Figure 18: USA: Acetic Acid Market: Export Volume Trend (in Tons)
Figure 19: China: Acetic Acid Market (in Million Tons), 2017 & 2022
Figure 20: China: Acetic Acid Market Forecast (in Million Tons), 2023-2028
Figure 21: North America: Acetic Acid Market (in Million Tons), 2017 & 2022
Figure 22: North America: Acetic Acid Market Forecast (in Million Tons), 2023-2028
Figure 23: Western/Eastern Europe: Acetic Acid Market (in Million Tons), 2017 & 2022
Figure 24: Western/Eastern Europe: Acetic Acid Market Forecast (in Million Tons), 2023-2028
Figure 25: North East Asia: Acetic Acid Market (in Million Tons), 2017 & 2022
Figure 26: North East Asia: Acetic Acid Market Forecast (in Million Tons), 2023-2028
Figure 27: South East Asia: Acetic Acid Market (in Million Tons), 2017 & 2022
Figure 28: South East Asia: Acetic Acid Market Forecast (in Million Tons), 2023-2028
Figure 29: Middle East & Africa: Acetic Acid Market (in Million Tons), 2017 & 2022
Figure 30: Middle East & Africa: Acetic Acid Market Forecast (in Million Tons), 2023-2028
Figure 31: Global: Acetic Acid (VAM Applications) Market (in Million Tons), 2017 & 2022
Figure 32: Global: Acetic Acid (VAM Applications) Market Forecast (in Million Tons), 2023-2028
Figure 33: Global: Acetic Acid (PTA Applications) Market (in Million Tons), 2017 & 2022
Figure 34: Global: Acetic Acid (PTA Applications) Market Forecast (in Million Tons), 2023-2028
Figure 35: Global: Acetic Acid (Anhydride Applications) Market (in Million Tons), 2017 & 2022
Figure 36: Global: Acetic Acid (Anhydride Applications) Market Forecast (in Million Tons), 2023-2028
Figure 37: Global: Acetic Acid (Ethyl Acetate Applications) Market (in Million Tons), 2017 & 2022
Figure 38: Global: Acetic Acid (Ethyl Acetate Applications) Market Forecast (in Million Tons), 2023-2028
Figure 39: Global: Acetic Acid (Butyl Acetate Applications) Market (in Million Tons), 2017 & 2022
Figure 40: Global: Acetic Acid (Butyl Acetate Applications) Market Forecast (in Million Tons), 2023-2028
Figure 41: Global: Acetic Acid (Other Applications) Market (in Million Tons), 2017 & 2022
Figure 42: Global: Acetic Acid (Other Applications) Market Forecast (in Million Tons), 2023-2028
Figure 43: Global: Acetic Acid (Plastics & Polymers) Market (in Million Tons), 2017 & 2022
Figure 44: Global: Acetic Acid (Plastics & Polymers) Market Forecast (in Million Tons), 2023-2028
Figure 45: Global: Acetic Acid (Food & Beverage) Market (in Million Tons), 2017 & 2022
Figure 46: Global: Acetic Acid (Food & Beverage) Market Forecast (in Million Tons), 2023-2028
Figure 47: Global: Acetic Acid (Inks, Paints & Coatings) Market (in Million Tons), 2017 & 2022
Figure 48: Global: Acetic Acid (Inks, Paints & Coatings) Market Forecast (in Million Tons), 2023-2028
Figure 49: Global: Acetic Acid (Chemicals) Market (in Million Tons), 2017 & 2022
Figure 50: Global: Acetic Acid (Chemicals) Market Forecast (in Million Tons), 2023-2028
Figure 51: Global: Acetic Acid (Pharmaceuticals) Market (in Million Tons), 2017 & 2022
Figure 52: Global: Acetic Acid (Pharmaceuticals) Market Forecast (in Million Tons), 2023-2028
Figure 53: Global: Acetic Acid (Others) Market (in Million Tons), 2017 & 2022
Figure 54: Global: Acetic Acid (Others) Market Forecast (in Million Tons), 2023-2028
Figure 55: Global: Acetic Acid Market: Breakup by Key Players (in %)
Figure 56: Acetic Acid Manufacturing: Detailed Process Flow
Figure 57: Global: Acetic Acid Manufacturing: Conversion Rate of Feedstocks
Figure 58: Global: Methanol Market: Production Volume Trends (in Million Tons), 2017-2022
Figure 59: Global: Methanol Market: Production Value Trends (in Million US$), 2017-2022
Figure 60: Global: Methanol Market: Average Prices (in US$/Ton), 2017-2028
Figure 61: Global: Methanol Market: Breakup by End-Use (in %)
Figure 62: Global: Carbon Monoxide Market: Production Volume Trends (in Million Tons), 2017-2022
Figure 63: Global: Carbon Monoxide Market: Production Value Trends (in Million US$), 2017-2022
Figure 64: Global: Carbon Monoxide Market: Average Prices (in US$/Ton), 2017-2028
List of Tables
Table 1: Acetic Acid: Physical Properties
Table 2: Acetic Acid: Chemical Properties
Table 3: Global: Acetic Acid Market: Key Industry Highlights, 2022 and 2028
Table 4: Global: Acetic Acid Market Forecast: Breakup by Region (in Million Tons), 2023-2028
Table 5: Global: Acetic Acid Market Forecast: Breakup by Application (in Million Tons), 2023-2028
Table 6: Global: Acetic Acid Market Forecast: Breakup by End-Use (in Million Tons), 2023-2028
Table 7: Global: Acetic Acid Market: Imports by Major Countries
Table 8: Global: Acetic Acid Market: Exports by Major Countries
Table 9: Global: Acetic Acid Market: Competitive Structure
Table 10: Acetic Acid Manufacturing: Raw Materials Required
Table 11: Global: Methanol Market: Production Capacity of Key Players
Companies Mentioned
- British Petroleum Plc
- Celanese Corporation
- Daicel Corporation
- Eastman Chemical Company
- GNFC Limited
- HELM AG
- LyondellBasell Industries N.V.
- Mitsubishi Chemical Corporation
- PetroChina
- SABIC
- Showa Denko K.K.
- Sinopec
- Svensk Etanolkemi AB (SEKAB)
- Wacker Chemie AG
Methodology
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