Zion Market Research has published a new report titled “Acetic Acid Market for VAM, Acetate Esters, Acetic Anhydride, PTA and Other Application: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 - 2021.” According to the report, the globacetic acid market accounted for USD 8.37 billion in 2015 and is expected to reach USD 13.65by 2021, growing at a CAGR of around 8.5% between 2016 and 2021.
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The market growth of global acetic acid market has been accelerated by rising demand for vinegar owing to numerous health benefits associated with it. Increasing consumption of PTA in the textile industry for polyester manufacturing coupled with increasing demand of VAM which is used as a precursor is expected to propel the growth of the acetic acid market in coming years. Furthermore, growing textile & packaging industry is expected to fuel the growth of the acetic acid market.In addition, being a chemical reagent and industrial chemical, it is used in the production of cellulose acetate for photographic film, while polyvinyl acetate for synthetic fibers and fabrics.However, volatile prices of methanol and mature market of acetic anhydride may restrict the growth of the market.Nonetheless, expected to increasing demand for industrial application is likely to open growth opportunities for the market in the near future.
Vinyl acetate monomer (VAM) segment dominated the acetic acid market with over 30% share of total volume consumption in 2015.Extensive use of VAM in adhesive and sealant industry are the major factors are expected to fuel the growth in the forecast period.Acetate Esters is expected to be the strongest growth segment of the market due to growing demand from coating industry.Increasing demand for PET bottles on account of their light weight and recyclability is expected to propel the growth of PTA segment.
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In terms of geography, Asia-Pacific is the largest market in terms of consumption and production. China holds more than 40% of production share in 2015. Rising manufacturing industries in Asia expected to prompt the growth of the acetic acid market in coming years. North America is projected to grow at CAGR of 3.6%.
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Some of the key players include in the acetic acid market such as Eastman Chemical Company, Jiangsu Sopo Co. Ltd, Kingboard Chemical Holdings Ltd, LyondellBasell Industries N.V., BP Plc, SABIC, Sasol, Petro China, Daicel Corporation, Celanese Corporation and among others.
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