Acetic Acid Market Scope
Acetic acid, also known as ethanoic acid, is an organic chemical compound which is recognized for giving vinegar its sour taste and pungent smell. Acetic acid is one of the simplest carboxylic acids and has the chemical formula CH3COOH. However, it is corrosive, and its vapor irritates the eyes, produces a burning sensation in the nose and can lead to a sore throat and lung congestion. Acetic acid is an essential chemical reagent and industrial chemical useful for the production of various synthetic fibers and other polymeric materials. These polymers are consist of polyethylene terephthalate which is mainly used in soft drink bottles; cellulose acetate, used mainly for photographic film; and polyvinyl acetate, used for wood glue. In households, diluted acetic acid is frequently used in descaling agents.
Attributes | Details |
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Study Period | 2020-2032 |
Base Year | 2024 |
Unit | Value (USD Million) |
Key Companies Profiled | Mitsubishi Chemical Corporation (Japan), British Petroleum (United Kingdom), DuPont (United States), Daicel Corporation (Japan), GNFC Limited (India), HELM AG (Germany), LyondellBasell Industries N.V. (Netherlands), PetroChina (China), Wacker Chemie (Germany) and Saudi International Petrochemicals (Saudi Arabia) |
CAGR | % |
The players are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments and collaborations as their preferred strategies. Companies are exploring new geographies through expansions and acquisitions across the world to avail competitive advantage through combined synergies Research Analyst at AMA estimates that United States and Chinese Vendors will contribute to the maximum growth of Global Acetic Acid market throughout the predicted period.
Mitsubishi Chemical Corporation (Japan), British Petroleum (United Kingdom), DuPont (United States), Daicel Corporation (Japan), GNFC Limited (India), HELM AG (Germany), LyondellBasell Industries N.V. (Netherlands), PetroChina (China), Wacker Chemie (Germany) and Saudi International Petrochemicals (Saudi Arabia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Celanese Corporation (United States), Sinopec (China), Eastman Chemical Company (United States) and Jiangsu Sopo (Group) Co., Ltd. (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Acetic Acid market by Type , by Application (Vinyl Acetate Monomer [VAM], Purified Terephthalic Acid [PTA], Acetate Esters and Acetic Anhydride) and Region with country level break-up.
On the basis of application, Vinyl Acetate Monomer [VAM] segment is dominating the market in the year 2024 where as Purified Terephthalic Acid [PTA] segment stood as second largest market.
On the basis of geography, the market of Acetic Acid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2024.
Market Leaders and their expansionary development strategies
In March 2023, KBR acquired Acetica℠, a cutting-edge technology for acetic acid production. This acquisition bolsters KBR's petrochemicals value chain and provides a lucrative avenue for CO2 utilization. The technology allows for the integration of CO2 derived from carbon capture, enabling the production of high-value chemicals like Vinyl Acetate Monomer (VAM). VAM plays a vital role in sustainable coatings, adhesives, and other materials that facilitate the transition to a net-zero environment. It is worth noting that KBR is the sole independent global licensor of acetic acid technology.
In May 2023, Lenzing launched its inaugural carbon-neutral product, LENZING™ Acetic Acid Biobased, which is derived from responsibly sourced beech wood. This carbon-neutral offering aims to establish a more sustainable supply chain while delivering highly functional products for diverse industries. The company is dedicated to driving circularity and achieving carbon neutrality by optimizing resource utilization and forming strategic collaborations, such as its partnership with ClimatePartner, to effectively reduce carbon emissions and reach net-zero.
Influencing Trend:
Increasing Use of Ester Solvents in Paints & Coating Sector
Market Growth Drivers:
Rise in Demand for Vinyl Acetate Monomer and Increasing Demand from Textile & Packaging Industry
Challenges:
Fluctuations in Methanol Prices
Restraints:
Environmental Concerns about the Harmful Effects
Opportunities:
The Untapped Market of Developing Countries
Key Target Audience
Provider of Acetic Acid, Suppliers of Acetic Acid Subcomponents, Wholesalers, distributers and retailers of Acetic Acid, Chemical industry, Governmental bodies, Food Industry and Textile Industry