Market Size of Acetic Acid Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 18.71 Million tons |
| Market Volume (2029) | 23.48 Million tons |
| CAGR (2024 - 2029) | 4.65 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Acetic Acid Market Analysis
The Acetic Acid Market size is estimated at 18.71 Million tons in 2024, and is expected to reach 23.48 Million tons by 2029, growing at a CAGR of 4.65% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market in 2020, owing to several restrictions imposed by governments all around the globe. However, the sector has been recovering well since restrictions were lifted. The market recovered significantly in the 2021-22 period, owing to rising consumption from various end-user industries, and is projected to continue doing so.
- Over the short term, the increasing demand for vinyl acetate monomer (VAM), the increasing demand from the textile and packaging industries, and the growing use of ester solvents in the paints and coatings industry are driving the growth of the acetic acid market.
- On the contrary, environmental concerns regarding the harmful effects of acetic acid are hindering the growth of the market.
- The development of new separation technologies to increase the production efficiency of acetic acid is expected to create opportunities for the market during the forecast period.
- The Asia-Pacific region is expected to dominate the market. It is also expected to register the highest CAGR during the forecast period.
