The global acetic acid market size was USD 6.90 billion in 2020. The market is projected to grow from USD 7.29 billion in 2021 to USD 10.54 billion in 2028 at a CAGR of 5.4% during the 2021-2028 period. As per the research team, development and increasing applications in several industries such as adhesives & sealants, paints & coatings, and textiles are likely to amplify the market growth globally. The utilization of Vinyl Acetate Monomer (VAM) is powered by the rising demand for paints and coatings across the world, which nurtures the demand and growth of the market.
Get Sample PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/acetic-acid-market-103386
The report on the acetic acid market involves:
- Greater insights into the market
- Profound analysis of the segments
- Market drivers and restraints
- Comprehensive information about prominent players
- Dominant regions
- COVID-19 drastic effect on the market
Report Coverage
The market report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies deployed at a rapid pace at the global level. The report examines various paradigm shifts associated with the transformation of software.
It further highlights some of the growth-stimulating factors and restraints, helping the reader gain in-depth knowledge about the human capital management market.
Segmentation
On the basis of application, the market is segregated into Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), ester solvents, acetic anhydride, and others. The vinyl acetate monomer (VAM) segment held a principal share in the market.
Geographically, the global market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Get a Customization in Report:
https://www.fortunebusinessinsights.com/enquiry/customization/acetic-acid-market-103386
The Report Lists the Key Companies in the Acetic Acid Market:
- BP Plc (UK)
- Shanghai Huayi (Group) Company (China)
- LyondellBasell Industries (The Netherlands)
- Daicel Corporation (Japan)
- Shandong Hualu-Hengsheng Chemical Co. Ltd. (China)
- Jiangsu Sopo (Group) Co. Ltd. (China)
- Kingboard Chemical Holdings Ltd. (Hong Kong)
- Eastman Chemical Company(U.S.)
- Lonza (Switzerland)
- Wacker Chemie AG (Germany)
- Other Key Players
Drivers and Restraints
Growing Demand for Vinyl Acetate Monomer to Assist Market Growth
VAM is a transition that is utilized for manufacturing resins and polymers for films, textiles, coatings, adhesives, paints, and other end-products. VAM is utilized in barrier resins for plastic bottles. It also has uses in adhesive owing to union properties to diverse substrates that involve wood, metals, paper, and plastic films.
Moreover, growth in the above-mentioned industries is resulting in a rise in demand for vinyl acetate monomer. This is further expected to bolster the acetic acid market growth during the forecast period.
Regional Insights
Asia Pacific was worth USD 3.73 billion in 2020 and is anticipated to hold the majority of the acetic acid market share which can be accredited to an upsurge in polymer formulations in the region.
North America is likely to display promising advantages up to 2028. The growth in the chemical industry and increasing demand from the end-use sectors such as construction and textile industries are occasioning in great utilization of ethanoic acid in numerous applications.
Europe is confronting a substantial growth rate during the forecast period owing to an upsurge in demand from end-use sectors and imports. This elevated demand has occasioned in European manufacturers to raise the cost up to 63 euros per ton.
Industry Development
January 2021: INEOS procured BP’s global Aromatics & Acetyls business comprising of 15 sites which include five in America, two in Europe, and eight in Asia accompanied by ten principal joint ventures.
Inquire Before Buying This Report:
https://www.fortunebusinessinsights.com/enquiry/queries/acetic-acid-market-103386
Related Industry News –
Flat Glass Market Opportunities
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner –
Mahalunge Road, Baner, Pune-411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]