Acetic Acid Market: Growing Demand and Key Players
The global acetic acid market is projected to reach USD 23.02 billion by 2030, with a CAGR of 7.5% from 2023 to 2030. This growth is fueled by the increasing demand for acetic acid in industries like construction, pharmaceuticals, and textiles. The product is widely used in the production of paints and coatings, which are in high demand to enhance the aesthetics of houses worldwide.
Key Application: Vinyl Acetate Monomer
The major application of acetic acid is in the production of vinyl acetate monomer, which accounted for 40.9% of the market share in 2022. The demand for vinyl acetate monomer is rising in industries such as paints and coatings, paper coatings, and printed products. Acetic acid is an essential raw material for the production of vinyl acetate monomer, directly driving the demand for the product.
Competitive Landscape and Key Players
The global acetic acid market is highly competitive, with key players investing in research and development activities to enhance their efficiency. Companies like Eastman Chemical Company, SABIC, HELM AG, and Indian Oil corporations are involved in joint ventures and expanding their production capacities to gain a competitive edge.
Regional Analysis
Asia Pacific dominates the market, with a revenue share of 33.6% in 2022, driven by the increasing demand for acetic acid in the pharmaceutical industry. Acetic acid is widely used in the development of medicinal drugs, such as aspirin, which is in high demand due to the growing number of patients in the region.
North America is the second-largest region, capturing 21.3% of the market in 2022. The demand for acetic acid in the food and beverage industry is increasing in this region. Acetic acid is widely used as a low-cost and less toxic chemical in the food industry.
Key Highlights of the Acetic Acid Market Report
- Vinyl acetate monomer application is witnessing the fastest growth rate globally, driven by its wide utilization in the paints and coatings industry.
- Asia Pacific is predicted to remain on top over the forecast period due to the rising demand for acetic acid in the pharmaceutical industry.
- North America is experiencing significant growth in the food and beverage industry.
Company Profiles and Market Analysis
- Eastman Chemical Company
- Celanese Corporation
- LynodellBasell Industries
- SABIC
- HELM
- Indian Oil Corporation
- Gujarat Narmada Valley Fertilizers & Chemicals
- Daicel
- Dow
- INEOS
Market Overview and Key Attributes
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $12.89 Billion |
| Forecasted Market Value (USD) by 2030 | $23.02 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Key Topics Covered in the Report
Chapter 1: Methodology and Scope
Chapter 2: Executive Summary
Chapter 3: Acetic Acid Market: Market Variables, Trends & Scope
Chapter 4: Acetic Acid Market: Application Estimates & Trend Analysis
Chapter 5: Acetic Acid Market: Regional Estimates & Trend Analysis
Chapter 6: Competitive Landscape
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. They provide the latest data on international and regional markets, key industries, top companies, new products, and the latest trends.