What is Acetic Acid?
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 |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
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) |
The study covers a detailed analysis segmented by key business segments i.e. by type (Trickling Generation and Submerged Liquid Fermentation) , by application (Vinyl Acetate Monomer [VAM], Purified Terephthalic Acid [PTA], Acetate Esters and Acetic Anhydride) and major geographies. Research Analyst at AMA predicts that United States and Chinese Vendors will contribute to the maximum growth of Global Acetic Acid market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Acetic Acid market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are 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).
Market Overview:
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.
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
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 highlights of the Global Acetic Acid market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Acetic Acid market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Acetic Acid market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Acetic Acid Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Acetic Acid market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Acetic Acid market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes 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.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.