The latest report published by IMARC Group, titled “Acetic Acid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the acetic acid market trends. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global acetic acid market size reached a value of US$ 10.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 15.5 Billion by 2027, exhibiting at a CAGR of 6.5% during 2022-2027.
Industry Overview and Application:
Acetic acid refers to a solution that is generally extracted naturally by Clostridium acetobutylicum and Acetobacter genus bacteria. Additionally, it is produced synthetically via the oxidation and fermentation of natural carbohydrates that is widely utilized in the preparation of vinegar. It is characterized by a clear, colorless liquid, has a strong odor of vinegar and is corrosive to tissues and metals. Besides this, it is used in the production of metal, vinyl and cellulose acetates and volatile organic esters that are used in the formulation of coatings and lubricants.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Business SWOT:
The global market is primarily driven by significant growth in the chemical industry. Coupled with the widespread utilization of acetate acid as a chemical reagent that is utilized used to formulate cellulose acetate is creating a positive market outlook. Moreover, the extensive adoption of vinegar in a wide range of food preparation across the food and beverage industry is providing a boost to the demand for acetic acid across the globe. Additionally, the growing adoption of acetic acid-based solvents in the manufacturing of adhesives and sealants, paints and coatings and textiles is impacting the product uptake favorably. Furthermore, the escalating need for sanitization on account of the rapid outbreak of coronavirus disease (COVID-19) has led to an increase in the sales of acetic acid on the global level. Other factors, including continuous technological advancements in the product manufacturing processes, continual improvements in the distribution and supply chain systems, and extensive research and development (R&D) activities conducted by key players, are also influencing the market growth.
Acetic Acid Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the global acetic acid market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
British Petroleum Plc
Eastman Chemical Company
LyondellBasell Industries N.V.
Mitsubishi Chemical Corporation
Showa Denko K.K.
Svensk Etanolkemi AB (SEKAB)
Wacker Chemie AG
Key Market Segmentation:
The report has segmented the global acetic acid market on the basis of application, end-use and region.
Breakup by Application:
Breakup by End-Use:
Plastics & Polymers
Food & Beverage
Inks, Paints & Coatings
North East Asia
South East Asia
Middle East & Africa
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Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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