Albany, NY -- (SBWire) -- 11/24/2014 --Properties and Uses of Acetic Acid:
The global acetic acid market is propelled by the demand for acetic acid from the application industry. The global acetic acid market and its various derivatives have been witnessing robust growth in recent years, and this trend will continue in the forthcoming years as well.
Acetic acid is a sour tasting and a pungent smelling colorless liquid that is a member of the carboxylic acids family. This acid is included under the category of weak acids in spite of its concentrated form being highly corrosive in nature. Acetic acid exhibits high water solubility and also gets easily dissolved in polar and non-polar solvents.
Unlike normal acids, this acid possesses the unique property of forming ice crystals when its anhydrous form is kept a few degrees below room temperature. The ice crystalline form of acetic acid is known as glacial acetic acid. About three fourths of the total global production of acetic acid comprises acetic acid manufactured by the process of methanol carbonylation. Acetic acid is a very important and a crucial chemical reagent in the chemicals industry. It is generally used for manufacturing synthetic fabrics and fibers, cellulose acetate, and polyvinyl acetate. Under the households segment, acetic acid is used as a condiment, and a descaling agent food additive.
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Global Acetic Acid Market – Demand Drivers, and Applications:
The global acetic acid market derives much of its demand from the global chemicals industry. The chemicals industry uses acetic acid for manufacturing cellulose acetate, and polyvinyl acetate. The main application markets of acetic acid include the markets for Purified Terephthalic Acid (PTA), and Vinyl Acetate Monomer (VAM). Further downstream applications include the production of sealants and adhesives, and PET production.
At the commercial level, Vinyl Acetate Monomer (VAM) can be manufactured only by using acetic acid, and VAM is mostly used for manufacturing sealants and adhesives. Rapid industrialization in some of the emerging economies is the main factor driving the demand for sealants and adhesives. This, as result, fuels the market for Vinyl Acetate Monomer. Rising demand for PET from the packaging industry is expected to propel the global acetic acid market in the years to come. The largest application segment in the global acetic acid market is that of Vinyl Acetate Monomer (VAM). Vinyl Acetate Monomer is a very crucial raw material that is used in the production process of water based adhesive which accounts for more than half the global market for sealants and adhesives.
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Global Market Overview of the Acetic Acid Market:
The global acetic acid market is led by China which has a rapidly growing automotive market which in turn fuels the demand for sealants and adhesives. China is witnessing a surge in manufacturing activities due to the availability of inexpensive inputs and labor. This is a prominent factor driving the acetic acid market in China. The second largest consumer of acetic acid in the world after China is the rest of Asia due to growing demand for acetic acid from countries like Japan, and India.
The acetic acid markets in Europe and North America face the problem of sluggish manufacturing sectors that have lower performance because of greater regulatory pressures pertaining to the consumption of bio based products in the manufacturing processes. Thus, the acetic acid market in Europe and North America will exhibit moderate rate of growth in the forthcoming years. The performance of this market in Europe is heavily dependent on the demand from the Eastern European economies, and Russia which are on the path of industrialization.
The global acetic acid market focuses immensely on innovation with several companies trying to come up with technologies that use alternate raw materials for manufacturing acetic acid.
Some of the key market participants in the global acetic acid market include Sasol Limited, DuPont, BASF SE, PetroChina Co. Ltd., Mitsubishi Chemical Company, Saudi Basic Industries Corporation (SABIC), Lyondell Basell Industries, China Petroleum & Chemical Corporation (sinopec), Jiangsu Sopo (Group) Co., Ltd., Eastman Chemical Company, British Petroleum, and Celanese Corporation.
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