Market Size of Glacial Acetic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.85 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Glacial Acetic Acid Market Analysis
The Glacial Acetic Acid Market size is expected to grow from 1,723.22 kilotons in 2023 to 2,081.48 kilotons by 2028, at a CAGR of 3.85% during the forecast period.
During the Covid-19 pandemic in 2020, the demand for glacial acetic acid plummeted due to decline in industrial operations globally. This decline in demand further intensified because of disruptions in the raw material supply chain of various end users of glacial acetic acid. However, as the restrictions eased, the demand for glacial acetic acid recovered and quickly grew back to pre pandemic levels.
- In the medium term, the growing demand for vinyl acetate monomer and purified terephthalic acid (PTA) from various end-user industries like packaging, paints and coatings and others is expected to be the major factors driving the market studied.
- However, detrimental health hazards of glacial acetic acid is likely to hinder the growth of the studied market.
- Growing disposable income coupled with changing lifestyle preferences espcially in devloping countries are expected to create growth oppututnies.
- Asia-Pacific dominated the market across the world, with the largest consumption in countries such as China and India.
