Acetic Acid Market Outlook:
As per the World Paints & Coatings Industry Association, the global paints & coatings market in 2018 witnessed an elevation by 4.9% to reach $164.9 billion. The progression can be attributed to the exploding construction sector disrupted by the demand to provide habitat for blooming global population. The global acetic acid market is determined to capitalize on such bourgeoning construction of infrastructures globally. A majority of acetic acid production is invested in the manufacturing of vinyl acetate monomer, or VAM, an integral component used to make essential construction commodities such as paints and adhesives. Increase in disposable income has diverted consumers towards affordability of architectural decorations hence supplementing the purchasing of paints and coatings.
Textile industry is another major employer of acetic acid for its dyeing operations. Acetic acid is used as a buffering agent in dyeing the cloth with a particular color. Glacial acid, the undiluted form of acetic acid, is the most commonly used to print various designs on clothes in textile industry. Textile industry is flourishing at the context of exploding global population amalgamated with increasing disposable income augmenting the per-capita consumption of goods, including textiles. This sector stands out among the acetic acid application industries, growing with an application CAGR of around 6% going through 2025.
The analyst of this business intelligence report by IndustryARC has nominated the APAC as the leading region in terms of acetic acid demand. After an acute analysis of the regional outlook, APAC is recorded to reserve under its territory more than 30% of the acetic acid global demand. The Indian textiles industry, currently estimated at around US$ 150 billion, is expected to reach US$ 250 billion by 2019 (IBEF). And as per the China Energy Group, China is the world’s top textile exporter with 40% of world textile and clothing exports. Similar is the affluence of construction sector, Global Building Performance Network states that, about 75% of the buildings expected to exist in India in 2030 have not been built. The aforementioned data surely resembles the authenticity of APAC qualifying as the leading regional acetic acid market.
Acetic Acid Market Growth Drivers and Trends:
In 2016, as per the WHO more than 1.9 billion adults were overweight. Now, obesity being curable is adding an extra segment in the F&B sector. A huge chunk of food and beverages are being manufactured for obese population. A classic example is the apple cider vinegar products. Vinegar is diluted acetic acid. Acetic acid is a short-chain fatty acid that dissolves into acetate and hydrogen in the body and supplements in burning of fat. Owing to this peculiarity acetic acid in lower proportions is used as a food additive, flavoring and preservative. Acetic acid controls food acidity.
Association of aesthetic with wellness is blooming the cosmetic industry, esters with typical odours are used in imitation of flavours, perfumes in the cosmetics. Esters are manufactured by the reaction between alcohols and carboxylic acids. For example, reacting ethanol with acetic acid.
Acetic Acid Market Challenges:
Acetic acid is highly corrosive in nature and at high concentrations, acetic acid is harmful to species of plants and animals. According to the harmonized classification and labelling (CLP00) approved by the European Union, acetic acid causes severe skin burns and eye damage and is a flammable liquid and vapor.
However, it is legalized in the EEA (European Economic Area) for application in biocidal products with positive indications for the environment, human or animal health. It is an authorized food additive. It is highly soluble in water and vitiates into lesser detrimental compounds.
Acetic Acid Market Players Perspective:
Some of the key players operating in the acetic acid market are BP Plc., Celanese Corporation, DuPont Corporation and Eastman Chemical Co. Eastman Chemical Co declared to hike the prices of acetic acid all grades, acetic acid dilute and acetic acid-anhydride blend by a couple of cents per pound in North and Latin America owing to the volatile raw material prices.
Acetic Acid Market Research Scope:
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Acetic Acid Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various forms in Acetic Acid Market, and their specific applications in different types of industries.
Acetic Acid Market Report: Industry Coverage
By Form: Liquid, Solid
By application: Easter Production, Vinegar, Vinyl Acetate Monomer, Purified Terephathalic Acid, Acetic Anhydride, Ph Regulation Agents, Photochemical
By industry: Electroplating, Laboratory Chemicals, Others
The Acetic Acid Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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