“Acetic Acid Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on acetic acid market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for acetic acid ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The acetic acid market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Sales Channel: Direct Company Sale; Direct Import; Distributors and Traders; Retailers
- 2) By Application: Vinyl Acetate Monomer; Acetic Anhydride; Acetate Esters; Purified Terephthalic Acid; Ethanol; Other Applications
- 3) By End-Use: Food and beverages; Paints and coating; Plastics and Polymers; Pharmaceutical; Chemicals; Other End-Uses
- Companies Mentioned: Eastman Chemical Company; LyondellBasell Industries Holdings BV; Daicel Corporation; Shanghai Huayi Group Corporation Limited; Celanese Corporation
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the acetic acid market are Eastman Chemical Company, LyondellBasell Industries Holdings BV, Daicel Corporation, Shanghai Huayi Group Corporation Limited, Celanese Corporation, Indian Oil Corporation Limited, INEOS Group Limited, Jiangsu SOPO (Group) Co. Ltd., Saudi Basic Industries Corporation, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Ashok Alco - Chem Limited (AACL), HELM AG, Dubichem chemicals international, Shandong Hualu Hengsheng Group Co Ltd., Yankuang Cathay Coal Chemicals Co Ltd., Kingboard Holdings Ltd., Pentokey Organy (India) Limited, and The Dow Chemical Company.
The global acetic acid market is expected to grow from $14.58 billion in 2022 to $15.45 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The acetic acid market is expected to grow to $19.09 billion in 2027 at a CAGR of 5.4%.
The acetic acid market consists of sales of acetic acid that is used to produce metal acetates, cellulose acetate and volatile organic esters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Acetic acid is an organic substance with a strong odor and sour flavor. It is a carboxylic acid comprised of a carboxyl functional group connected to a methyl group with the chemical formula CH3COOH and usually, it is a byproduct of fermentation.
Asia-Pacific was the largest region in the acetic acid market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the acetic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of sales channels are direct company sales, direct import, distributors and traders, and retailers. Direct company sales refer to sales that involve direct communication between a vendor and a customer. Acetic acid is sold through direct company sales directly outside of a retail setting and major demand for acetic acid is fulfilled by direct import by the customers. The main applications of acetic acid are vinyl acetate monomer, acetic anhydride, acetate esters, purified terephthalic acid, ethanol, and others. The major end-users are food and beverages, paints and coating, plastics and polymers, pharmaceutical, chemicals, and others.
Rising expansion in the textile sector is expected to boost the growth of the acetic acid market going forward. The textile industry involves research, design, development, manufacturing, and distribution of textiles, fabrics, and clothing. In the textile industry, acetic acid is used in producing rayon, the majority of latex, and artificial materials, as well as for fabric dyeing. For instance, according to the report published in 2022 by Royale International, a Hong Kong-based provider of logistics solutions and international courier services, the predicted size of the global textile market in 2021 was $993.6 billion. In 2022, that market was projected to grow to $1,032.1 billion. Therefore, the rising expansion of the textile sector is driving the growth of the acetic acid market.
The development of new technologies has emerged as the key trend gaining popularity in the acetic acid market. Major companies operating in the market are focused on technological developments to sustain their position in the market. For instance, in October 2020, Linde Engineering, a Germany-based developer and optimizer of gas processing, separation, and liquefaction technologies, partnered with Shell plc, a UK-based oil and gas company, to launch EDHOX technology. EDHOX technology is an on-purpose catalytic technology that converts ethane into ethylene and acetic acid under mild conditions in a multi-tubular reactor with commercial-size single tubes. The unique features of EDHOX include operating at 400 °C or even lower temperatures, lowering investment and ethylene and acetic acid production costs, and offering the potential to dramatically cut carbon emissions compared to traditional ethane steam cracking technology.
In January 2021, INEOS Group Limited, a UK-based producer of specialty chemicals, oil products, and petrochemicals, acquired BP Plc's global aromatics and acetyls business for $5 billion. Through this acquisition, INEOS Group Limited aims to strengthen its portfolio and expand its geographical reach in the aromatics and acetyls segment to assist the global polyester sector. BP Plc is a UK-based provider of fuel, energy, lubricants, and petrochemicals, including acetic acid.
The countries covered in the acetic acid market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The acetic acid market research report is one of a series of new reports from The Business Research Company that provides acetic acid market statistics, including acetic acid industry global market size, regional shares, competitors with an acetic acid market share, detailed acetic acid market segments, market trends and opportunities, and any further data you may need to thrive in the acetic acid industry. This acetic acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Acetic Acid Market Characteristics
3. Acetic Acid Market Trends And Strategies
4. Acetic Acid Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Acetic Acid Market
- 4.2. Ukraine-Russia War Impact On Acetic Acid Market
- 4.3. Impact Of High Inflation On Acetic Acid Market
5. Acetic Acid Market Size And Growth
- 5.1. Global Acetic Acid Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Acetic Acid Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Acetic Acid Market Segmentation
- 6.1. Global Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Direct Company Sale
- Direct Import
- Distributors And Traders
- Retailers
- 6.2. Global Acetic Acid Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Vinyl Acetate Monomer
- Acetic Anhydride
- Acetate Esters
- Purified Terephthalic Acid
- Ethanol
- Other Applications
- 6.3. Global Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food And beverages
- Paints And Coating
- Plastics And Polymers
- Pharmaceutical
- Chemicals
- Other End-Users
7. Acetic Acid Market Regional And Country Analysis
- 7.1. Global Acetic Acid Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Acetic Acid Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Acetic Acid Market
- 8.1. Asia-Pacific Acetic Acid Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Acetic Acid Market
- 9.1. China Acetic Acid Market Overview
- 9.2. China Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Acetic Acid Market
- 10.1. India Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Acetic Acid Market
- 11.1. Japan Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Acetic Acid Market
- 12.1. Australia Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Acetic Acid Market
- 13.1. Indonesia Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Acetic Acid Market
- 14.1. South Korea Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Acetic Acid Market
- 15.1. Western Europe Acetic Acid Market Overview
- 15.2. Western Europe Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Acetic Acid Market
- 16.1. UK Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Acetic Acid Market
- 17.1. Germany Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Acetic Acid Market
- 18.1. France Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Acetic Acid Market
- 19.1. Eastern Europe Acetic Acid Market Overview
- 19.2. Eastern Europe Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Acetic Acid Market
- 20.1. Russia Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Acetic Acid Market
- 21.1. North America Acetic Acid Market Overview
- 21.2. North America Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Acetic Acid Market
- 22.1. USA Acetic Acid Market Overview
- 22.2. USA Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Acetic Acid Market
- 23.1. South America Acetic Acid Market Overview
- 23.2. South America Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Acetic Acid Market
- 24.1. Brazil Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Acetic Acid Market
- 25.1. Middle East Acetic Acid Market Overview
- 25.2. Middle East Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Acetic Acid Market
- 26.1. Africa Acetic Acid Market Overview
- 26.2. Africa Acetic Acid Market, Segmentation By Sales Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Acetic Acid Market, Segmentation By End-Users, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Acetic Acid Market Competitive Landscape And Company Profiles
- 27.1. Acetic Acid Market Competitive Landscape
- 27.2. Acetic Acid Market Company Profiles
- 27.2.1. Eastman Chemical Company
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. LyondellBasell Industries Holdings BV
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Daicel Corporation
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Shanghai Huayi Group Corporation Limited
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Celanese Corporation
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Acetic Acid Market
29. Acetic Acid Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer