Acetic Acid Market – Growth, Trends, and Forecast (2020 - 2025)

The market is segmented by Application (Vinyl Acetate Monomer, Purified Terephthalic Acid, Acetate Esters, Acetic Anhydride, and Other Applications), by End-user Industry (Plastics and Polymers, Food and Beverage, Inks, Paints and Coatings, Chemicals, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

4 %

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Market Overview

The market for acetic acid is expected to expand at a CAGR of more than 4% during the forecast period. Major factors that drive the market studied include the growing textile and packaging industry and the increasing use of ester solvents in the paints and coating industry.

  • Saturation of demand for acetic acid in the developing countries is expected to hinder the growth of the market studied.
  • The development of new separation technologies to increase production efficiency is expected to act as an opportunity in the future.

Scope of the Report

The report on acetic acid market includes:

By Application
Vinyl Acetate Monomer (VAM)
Purified Terephthalic Acid (PTA)
Acetate Esters
Acetic Anhydride
Other Applications
By End-user Industry
Plastics and Polymers
Food and Beverage
Inks, Paints, and Coatings
Chemicals
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Vinyl Acetate Monomer (VAM) to Dominate the Market

  • Vinyl acetate monomer is a chemical building block used for a wide variety of industrial and consumer products. Polyvinyl acetate is used in the production of paints and coatings and adhesives, for flexible substrates, as well as for sizing the polyester fiber-fill insulation textiles.
  • VAM is a key raw material in the manufacturing of water-based adhesives, which accounts for significant use in the global adhesives and sealants market. 
  • Vinyl acetate monomer (VAM) dominated the market for acetic acid. It accounted for over 30% of the total market in terms of volume, owing to the extensive use of VAM in the paints and coatings, textile, and adhesives and sealants market.
  • Furthermore, the increasing demand from Asia-Pacific is expected to boost the demand for acetic acid, during the forecast period.
  • In Europe, Germany represents the largest market for VAM. In terms of volume, the country accounted for more than 32% of the total consumption in Europe, owing to the strong and steady textile and packaging market.
  • Therefore, the increasing demand for VAM in various regions is expected to increase the demand for acetic acid over the forecast period.

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is the largest consumer of acetic acid in the global market. The Asia-Pacific market is anticipated to be the largest market for the textile industry, owing to the strong industrial base of the region.
  • Furthermore, factors such as increasing population and improving economic condition (such as rising GDP and disposable income of the people), drive the market in the region and boosting the manufacturing sector.
  • China is the largest market for VAM worldwide. In terms of volume, the country accounted for more than 30% of the global consumption. This large share is because of the strong and steady textile and packaging market of China.
  • Furthermore, the local market provides an ample amount of opportunities for local vendors to invest in the market.
  • The Asia-Pacific is estimated to have the highest growth in the market during the forecasted period, owing to its extensive growing demand for industrial fabrics.

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Competitive Landscape

The acetic acid market is consolidated. The major companies include BP PLC, Celanese Corporation, Eastman Chemical Company, PetroChina Company Limited, and Daicel Corporation, among others.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing demand for Vinyl Acetate Monomer (VAM)

      2. 4.1.2 Increasing Demand from Textile and Packaging Industry

      3. 4.1.3 Increasing use of Ester Solvents in the Paints and Coating Industry

    2. 4.2 Restraints

      1. 4.2.1 Saturation of Demand of Acetic Acid in Developed Nations

      2. 4.2.2 Environmental Concerns Regarding the Harmful Effects

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Import and Export Trends

    6. 4.6 Price Trends

    7. 4.7 Feedstock Analysis

    8. 4.8 Technological Snapshot

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Vinyl Acetate Monomer (VAM)

      2. 5.1.2 Purified Terephthalic Acid (PTA)

      3. 5.1.3 Acetate Esters

      4. 5.1.4 Acetic Anhydride

      5. 5.1.5 Other Applications

    2. 5.2 By End-user Industry

      1. 5.2.1 Plastics and Polymers

      2. 5.2.2 Food and Beverage

      3. 5.2.3 Inks, Paints, and Coatings

      4. 5.2.4 Chemicals

      5. 5.2.5 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BP PLC

      2. 6.4.2 Celanese Corporation

      3. 6.4.3 Chang Chun Group.

      4. 6.4.4 China Petrochemical Corporation

      5. 6.4.5 Chiyoda Corporation

      6. 6.4.6 Daicel Corporation

      7. 6.4.7 Eastman Chemical Company

      8. 6.4.8 GNFC Limited

      9. 6.4.9 Kanoria Chemicals & Industries Ltd

      10. 6.4.10 Kingboard Holdings Limited

      11. 6.4.11 LyondellBasell Industries Holdings BV

      12. 6.4.12 Mitsubishi Chemical Corporation

      13. 6.4.13 PetroChina Company Limited

      14. 6.4.14 SABIC

      15. 6.4.15 SASOL

      16. 6.4.16 Shandong Hualu-Hengsheng Chemical Co. Ltd

      17. 6.4.17 Showa Denko K.K.

      18. 6.4.18 Sipchem

      19. 6.4.19 Svensk Etanolkemi AB (SEKAB)

      20. 6.4.20 Wacker Chemie AG

      21. 6.4.21 Yankuang Group

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Development of New Separation Technologies to increase the production efficiency

    2. 7.2 Others

** Subject to Availability

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