WASHINGTON, Aug. 24, 2023 (GLOBE NEWSWIRE) -- According to Vantage Market Research the Global Acetic Acid Market and came across some interesting figures. Apparently, the market is currently valued at USD 20.92 Billion in 2022 and is projected to reach a value of USD 29.97 Billion by 2030. This represents a CAGR (Compound Annual Growth Rate) of 4.60% between 2023 and 2030.
The acetic acid market, a vital component of the chemical industry, is experiencing steady growth driven by its widespread applications in various sectors. Acetic acid, also known as ethanoic acid, is a colorless liquid with a pungent odor. It finds extensive usage in the manufacturing of chemicals, solvents, textiles, plastics, and even food products. The market's growth is propelled by several factors, including the rising demand for vinegar, an upsurge in the production of vinyl acetate monomer, and its increasing use in the pharmaceutical sector. As a key player in the chemical domain, the acetic acid market showcases promising growth prospects in the foreseeable future.
Get Access to Free Sample Research Report with Latest Industry Insights @ https://www.vantagemarketresearch.com/acetic-acid-market-1914/request-sample
Top Report Findings:
- The market is anticipated to witness steady growth, primarily fueled by pharmaceutical and chemical sectors.
- Increasing adoption of sustainable production methods is becoming a key focus area for industry players.
- Asia-Pacific is projected to be a dominant region in terms of both production and consumption.
Top Companies in The Global Acetic Acid Market
- HELM AG
- Airedale Chemical Company Limited
- DubiChem (UAE)
- INEOS Group Ltd.
- Lynodellbasell Industries Holding B.V.
- SABIC
- Indian Oil Corporation Ltd.
- Gujrat Narmada Valley Fertilizers & Chemicals Limited
- Pentokey Organy
- Ashok Alco Chem Limited
- Daicel Chemical Corporation
- The Dow Chemical Product
- Eastman Chemical Company
- Celanese Corporation
To Know an Additional List of Key Players, Request Here to Download a Free Report PDF Brochure: https://www.vantagemarketresearch.com/acetic-acid-market-1914/request-sample
OR
Enjoy a Fabulous 50% Discount with code "AUG50"! Don't miss out on these incredible savings @ https://www.vantagemarketresearch.com/buy-now/acetic-acid-market-1914/0
Acetic Acid Market Dynamics:
The acetic acid market dynamics are characterized by a delicate balance between demand and supply, influenced by industries like textiles, chemicals, and food & beverages. The steady demand for vinegar in households and restaurants has perpetuated the market's growth. Furthermore, the demand for vinyl acetate monomer, a significant derivative of acetic acid used in the production of adhesives and paints, has contributed to the market's expansion. Moreover, acetic acid's use in the pharmaceutical sector, especially in the manufacturing of acetaminophen, a common pain reliever, has added another layer of demand to the market.
Top Trends in the Global Acetic Acid Market:
- Bio-based Production: As sustainability gains importance, there is a growing trend towards the production of acetic acid using bio-based feedstocks, reducing the reliance on fossil fuels and minimizing the environmental impact.
- Pharmaceutical Applications: The pharmaceutical industry's demand for acetic acid for the production of essential drugs, such as acetaminophen, is driving significant growth in the market.
- Focus on Research and Development: Manufacturers are investing in R&D to discover innovative production methods and develop new applications, expanding the potential uses of acetic acid.
- Asian Market Expansion: The Asia-Pacific region, particularly China and India, are emerging as major consumers and producers of acetic acid, reshaping the global market landscape.
Global Acetic Acid Market Segmentation
By Applications
- Vinyl Acetate Monomer
- Acetic Anhydride
- Acetate Esters
- Purified Terephthalic Acid
- Ethanol
- Other Applications
By End-Uses
- Food & Beverages
- Paints & Coating
- Plastics & Polymers
- Pharmaceutical
- Chemicals
- Other End-Uses
Buy this Premium Research Report with Discount | Immediate Delivery @ https://www.vantagemarketresearch.com/buy-now/acetic-acid-market-1914/0
Challenges:
Fluctuating feedstock prices, particularly for methanol, pose challenges to manufacturers in maintaining cost-efficient production processes.
Environmental regulations related to acetic acid production's carbon emissions and waste disposal require meticulous compliance, impacting operational efficiency.
Opportunities:
The shift towards sustainable practices opens avenues for manufacturers to invest in bio-based acetic acid production, meeting eco-conscious consumer demands.
Integration of acetic acid in emerging applications beyond its conventional uses, such as in the healthcare sector, holds potential for market diversification.
Read Full Report with TOC @ https://www.vantagemarketresearch.com/industry-report/acetic-acid-market-1914
Recent Development
- March 2023: Eastman Chemical Company announced that it has completed the expansion of its acetic acid production facility in Kingsport, Tennessee. The expansion will increase the plant's capacity by 50%.
- February 2023: Celanese Corporation announced that it has started construction of a new acetic acid plant in Clear Lake, Iowa. The plant is expected to be operational in 2025.
- January 2023: Hebei Kingboard Energy Development Co., Ltd. announced that it plans to submit the "Environmental Impact Report of Hebei Kingboard Energy Development Co., Ltd. Acetic Acid Expansion and Transformation Project" for approval. The project is expected to increase the plant's capacity by 20%.
- December 2022: INEOS announced that it has started construction of a new acetic acid plant in Antwerp, Belgium. The plant is expected to be operational in 2024.
Key Questions Answered in the Acetic Acid Market Report:
- How is the demand for acetic acid distributed across various industries?
- What are the primary growth drivers of the acetic acid market?
- How is the trend towards bio-based production impacting the market landscape?
- Which regions are emerging as key players in acetic acid production and consumption?
- What role does acetic acid play in the pharmaceutical sector?
- What are the potential environmental implications of traditional acetic acid production methods?
- How are manufacturers addressing the challenge of raw material price fluctuations?
- What innovative applications beyond the current uses of acetic acid are being explored?
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Acetic Acid Market Forecast Report (2023-2030).
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 20.92 Billion |
| Revenue Forecast by 2030 | USD 29.97 Billion |
| CAGR | 4.60% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | HELM AG, Airedale Chemical Company Limited, DubiChem (UAE) INEOS Group Ltd., Lynodellbasell Industries Holding B.V., SABIC, Indian Oil Corporation Ltd., Gujrat Narmada Valley Fertilizers & Chemicals Limited, Pentokey Organy, Ashok Alco Chem Limited, Daicel Chemical Corporation, The Dow Chemical Product, Eastman Chemical Company, Celanese Corporation |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/acetic-acid-market-1914/customization-request |
Regional Analysis:
In North America, the acetic acid market is witnessing stable growth due to its extensive application in industries like textiles, chemicals, and pharmaceuticals. The demand for vinegar in the food industry remains consistent, and the region's focus on sustainable production methods aligns with the global trend. Moreover, the presence of established pharmaceutical manufacturers further drives the demand for acetic acid. As the market diversifies into bio-based production and explores new applications, North America stands as a key player in shaping the future of the acetic acid market.
Browse More Reports from Vantage Library:
- Lactic Acid Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/lactic-acid-market-1150
- Automotive Lead Acid Battery Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/automotive-lead-acid-battery-market-2151
- Ascorbic Acid Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/ascorbic-acid-market-2040
- Levulinic Acid Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/levulinic-acid-market-1993
- Sulfuric Acid Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/sulfuric-acid-market-1958
- Nitric Acid Market - Global Industry Assessment & Forecast: https://www.vantagemarketresearch.com/industry-report/nitric-acid-market-1923
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies.
Follow Us on: LinkedIn | Twitter | Facebook | YouTube
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website: https://www.vantagemarketresearch.com
Latest Vantage Market Research Press Releases
Latest Vantage Market Research Blog
Vantage Market Research All Reports
Blog:
