Transparency Market Research has published a new report titled "Acetic Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018" to its report store.
Albany, NY -- (SBWIRE) -- 09/24/2014 -- Transparency Market Research, in its latest research report states, the global acetic acid market will grow significantly in the coming years. The acetic acid market was valued at US$5.93 billion in 2011. However, it is expected to reach US$10.31 billion by 2018, growing at a CAGR of 9.3% from 2012 to 2018. The report “Acetic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018” is available for sale on the company’s website.
The two main segments of acetic acid market are vinyl acetate monomer or VAM and purified terephthalic acid, or PTA. These segments accounted for 55% of the total global consumption of acetic acid in 2011. The acetic acid market continues to grow on the backdrop of rising demand from end-user sectors such as sealants, adhesives, and packaging. Out of the two, vinyl acetate monomer (VAM) held a bigger share of 32.5% of the entire acetic acid consumption in 2011. Due to growing need for sealants and adhesives, vinyl acetate monomer market share is expected to improve in the coming five years.
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Purified terephthalic acid or PTA followed vinyl acetate monomer closely. In the global consumption scenario of acetic acid, VAM is expected to grow at a CAGR of 5.4% in the forecasted period. The biggest factors fueling PTA growth are increasing demand of polyethylene terephthalate (PET) and its other end-uses. However, the acetic acid market faces a few challenges such as volatile pricing of raw materials.
According to analysts, China was the leading the acetic acid market in terms of demand in 2011. Its market share amounted to 36.2% in the mentioned period. The factors contributing China’s growth in the acetic acid market are rapid industrialization and strong economic growth. Between the forecasted period from 2012 to 2018, China is expected to grow at a CAGR of 5.4%. Europe and North America follow China closely in terms of global demand for acetic acid. Analysts predict the next market likely to impact the global economy is the Asia Pacific market. The North American and European market are likely to experience a slow growth due to saturated demand from the industry.
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The global acetic acid market is tightly held by top key players. As of 2011, these players controlled over 60% of the global market for acetic acid. The report profiles these key participants and provides details of their financial strategies. It also provides value chain analysis for better understanding of supply chain operations of every player in the acetic acid market. The companies mentioned in this report are Yancon Cathay Chemicals, British Petroleum PLC., SABIC, Cleanse Corporation, JinagsuSopo, and Eastman Chemical, LyondellBasell.
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