New York, NY -- (SBWIRE) -- 01/28/2021 -- The acetic acid in its diluted form is utilized in households as a descaling agent, whereas in industries, it is majorly used as an important chemical reagent that is utilized to formulate cellulose acetate. The chemical also finds its application in the food sector as an acidity regulator and a condiment.
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Leading Players Profiled in the Report Include:
Mitsubishi Chemical Corporation, Sinopec, Wacker Chemie, GNFC Limited, Saudi International Petrochemicals, DuPont, Eastman Chemical Company, Daicel Corporation, Jiangsu Sopo (Group), and LyondellBasell, among others.
Market Drivers
The growth of the global acetic acid market can be attributed to the widespread demand for the product from growing industrial and cosmetics manufacturing sectors around the world. Other applications of the chemical are the formulation of acetic anhydride, acetate esters, and many more. The application of acetate ester is increasing in printing ink applications along with adhesives and sealant space, where it is majorly utilized as a solvent. Acetic anhydride is majorly used for oil spill clean-up, acetylation of salicylic acid, synthesizing aspirin, wood preservation applications, and many more.
Regional Landscape
Asia Pacific region dominated the global acetic acid market and accounted for 62.0% of the global revenue in 2020. This can be attributed to the rising penetration of polymer formulators in the region. Acetic acid is a major compound utilized in a wide range of industries across India, Japan, and China. This region is seeing high construction activities owing to increased acquisitions and mergers. Europe observed lucrative growth in 2020. The rising food industry also led to high demand for packaging, which is expected to boost the demand for acetic acid. The North American market is augmented by the rising demand for ethanol in many industries. This is expected to increase the application of acetic acid in ethanol production in the country.
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For the purpose of this report, Reports and Data have segmented into the global Acetic Acid market on the basis of form, manufacturing process, application, end-users, and region:
Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Solid
Liquid
Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Biological Route
Synthetic Route
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Acetic anhydride
Monochloroacetic
Textiles
Terephthalic acid
Vinyl acetate monomer
Ketene
Dimethylacetamide
Others
End-Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Food and Beverage
Plastics and Polymers
Chemicals
Inks, Paints, and Coatings
Others
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Acetic Acid Market Segmentation & Impact Analysis
4.1. Acetic Acid Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
Continued…
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