The global supply of acetic acid was 12.41 MMT in 2016 and is estimated to reach 16.60 MMT by 2022 at a CAGR of 4.97%, while on the other hand in terms of revenue, the value in 2016 was USD 5.75 Billion and is projected to reach USD 7.78 Billion by 2022growing at 5.17% compounded annually.
Acetic acid, also known as ethanoic acid, is a synthetic carboxylic acid with antibacterial and antifungal properties. The chemical is used in a wide variety of applications that include agricultural chemicals, pigments, and paint adhesives, as solvents, plasticizers, corrosion inhibitors, adhesive chemicals, paper products, water treatment products and others.
APAC leads the global acetic acid market in terms of consumption, having a market share of 59% in 2016, followed by North America and Europe. The market in North America is dominated by United States, where the demand is estimated to be saturated for the forecasted period. APAC is the fastest growing market in terms of usage of acetic acid across varied applications and thus, is the region focus.
VAM - which is the leading use of acetic acid finds its usage in manufacturing polymer for coatings and adhesives is growing significantly and thus is expected to drive the acetic acid market. Added to this, its use for packaging industry also drives the market for the period.
Acetic acid is used in the manufacture of wide number of chemicals, plastics, cosmetics, pharmaceuticals, insecticides, and others. However, its major application is Vinyl Acetate Monomer (VAM), which has a market share more than 30% market share in 2016. PTA and ethyl acetate are the other leading end use sectors. Acetic acid used for ethanol production is estimated to be the fastest growing sector for the forecasted period.
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Key Topics Covered:
1. Our Research Methodology
2. Market Overview
Acetic Acid - Segmentation
Value Chain Anaysis
Porter's 5 Forces
Raw Material Analysis
3. Market Dynamics
4. Acetic Acid Market Segmentation, Forecasts and Trends - by Revenue