Acetic Acid Market to grow at over 8.7% CAGR from 2017 to 2024

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Acetic Acid Market Outlook status and development
trends reviewed in new report, 2017 2024
Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Acetic Acid Market

• The acetic acid market will witness substantial
  gains due to increased demand in the
  manufacturing of purified terephthalic acid (PTA)
  and vinyl acetate monomer (VAM). It is majorly
  consumed in producing photographic chemicals,
  diketene, camphor, and mono chloroacetic acid
  that drives its market.
• Acetic acid is used as a raw material in an array
  of downstream chemicals. Vinegar is one such
  chemical, commonly used for cooking, and has
  recently developed as a food ingredient. Consumer
  awareness related to health benefits by
  consumption of vinegar in recommended quantity is
  rising its demand in food items.
• Certain health hazards and operational snags
  associated with the acid are irritation to skin,
  corrosive to metals, reduced performance at low
  temperature, and decreased compatibility with
  quarts.

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Continued...

• China acetic acid market growth is attributed to
  its flourishing industrial sectors of polymers,
  food products, chemicals, and adhesives. The
  country exports the acid to a limited extent as
  major produce gets consumed domestically.
• Europe had a size of above USD 1.4 billion in
  2016 in the acetic acid market. Flourishing
  frozen food market in Spain, Italy and Germany
  will increase compounds demand as a food
  preservative.
• The market is fragmented in nature with small and
  medium scale manufacturers including Saudi
  International Petrochemicals, Wacker Chemie,
  DuPont, Sinopec, PetroChina, LyondellBasell
  Industries, HELM AG, GNFC Limited, Daicel
  Corporation, and Mitsubishi Chemical. Major
  companies dominating the market are Sopo,
  Celanese, Eastman Chemicals and Bharat Petroleum.

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Europe Acetic Acid Market size, by application,
2013 - 2024 (USD Million)

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360 Analysis

• Product Analysis
• Bio-based chemicals are gaining acceptance as
  these can act as a complete replacement for
  fossil based feedstocks. Product synthesis with
  bio-based materials is also gaining momentum.
  Bio-based acetic acid may be manufactured by
  fermenting corn starch., sugar for ethanol etc.
• Regional Analysis
• North America has a decent market of acetic acid
  with a consumption of over 1,900 kilotons in
  2016. The U.S. had always been popular for
  pharmaceutical industries with the presence of
  major companies such as Gilead Sciences, Johnson
  Johnson, Pfizer, Roche, Novartis, and Actavis.
• Competitive Market Share
• Major formulators include Wacker Chemie, Saudi
  International Petrochemicals, DuPont, Eastman
  Chemical Company, Jiangsu Sopo (Group) Co., Ltd.,
  British Petroleum, Celanese Corporation,
  Mitsubishi Chemical Corporation, Daicel
  Corporation, GNFC Limited, HELM AG,
  LyondellBasell Industries N.V., PetroChina, and
  Sinopec.

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