Globa Acetic Acid Market is Segmented By Derivative (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetic Anhydride, Ester Solvents, Ethyl Acetate, Others), By Form (Powder, Liquid), By End-User (Plastics & Polymers, Food & Beverage, Paints & Coatings, Chemicals, Pharmaceuticals, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
Acetic Acid Market Overview
Globa Acetic Acid Market report analyses the size, shares, recent trends, competitive intelligence, and future market outlook. Acetic acid usage in plastics & polymers is on the rise. Demand for biobased chemicals in ‘The Asia Pacific’ is growing. The competitive rivalry intensifies with Celanese Corporation Jiangsu SOPO Co. Ltd and others active in the market.
Acetic acid is a significant commodity chemical derived largely from natural gas. Acetic acid is primarily derived from the deacetylation of hemicellulose. During pyrolysis, holocellulose is first depolymerized. Then, the degraded pieces undergo ring scission, resulting in acetic acid production through deacetylation. Lignin is also used as a raw material in acetic acid manufacturing. Acetic acid is supplied commercially as glacial acetic acid, which contains less than 1% water and has a concentration of above 98% and various contaminants from the manufacturing process.
Acetic Acid Market Report Scope and Summary
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Metrics |
Details |
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Market CAGR |
5.4% |
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Segments Covered |
By Derivative, By Form, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Global Acetic Acid Market Geographical Share
As the simplest carboxylic acid, acetic acid is an effective chemical reagent in the chemical industry and a useful material in the food business, where it is frequently employed as an acidity regulator or condiment. Although it is believed that a considerable amount of acetic acid is used to make vinegar, the overall volume of acetic acid used for vinegar is quite minor when compared to acetic acid usage in the chemical sector. As a result, the chemical industry's primary use of acetic acid will be discussed, which may be separated into three parts: Acetic anhydride, vinyl acetate monomer, and ester production.
Acetic Acid Market Growth Drivers, and Opportunities
The global acetic acid market is expected to boost with the growing demand for biobased chemicals in numerous industries.
Growing demand for biobased chemicals in numerous industries
One of the causes of market growth is a significant growth in sales of sugar-based bio-acetic acid. The expansion in bio-based acetic acid production is due to the acceptance of bio-based chemicals across industries, including chemicals and personal care.
A bioconversion technique can manufacture bio-based acetic acid from lignocellulosic biomass. An acetogen can be used in fermentation to produce acetic acid after pretreatment and hydrolysis. Acetogens create acetic acid exclusively when they digest carbohydrates, with a theoretical yield of 100%. Acetic acid must be distilled to glacial purity to be generally marketable. Distillation to glacial purity can be difficult when introduced to the recovery process if acetic acid is not in high concentration. The two possibly effective bio-based acetic acid recovery techniques have been evaluated. The first utilizes ethyl acetate extraction to extract acetic acid from water. The second uses an alanine and diisobutyl ketone solvent for acetic acid extraction.
Various companies are shifting to the production of bio-based chemicals. For instance, in 2021, Afyren began constructing its industrial-scale factory, Afyren Neoxy, for the green chemistry production of organic acids, including acetic acid, isobutyric acid, propionic acid, butyric acid, valeric acid, isovaleric acid, hexanoic acid. According to the company, the acids appropriate to flavors qualify as “natural flavoring substances” per EU regulations and as “natural flavorings” complying with the U.S. Federal Food, Drug, and Cosmetic Act. Afyren’s natural acetic acid has been approved as 100% biobased under the USDA’s Bio preferred Program.
Adverse health impacts from exposure to acetic acid
Acetic acid intake from food or acetic acid-containing home goods can harm one's health. It can irritate when exposed to dilute acetic acid solutions. Inhaling acetic acid can irritate the nose, eyes, and throat and cause coughing. Corrosive damage can occur when exposed to higher concentrated acetic acid solutions (>25 percent). Breathing acetic acid-rich vapors can irritate the eyes, nose, and throat and cough, chest tightness, headache, fever, and confusion. Impairment to the airways, a rapid heart rate and eye damage can all occur in severe cases. Individuals with breathing issues such as asthma may be more susceptible to the consequences of inhaling acetic acid
COVID-19 Impact on Acetic Acid Market
The global acetic acid market faced a downfall during COVID-19 due to a huge decline in end-user industries. Acetic acid and its derivatives are used to produce adhesives and sealants used in the automotive industry. The COVID-19 pandemic impacted the automotive and its associated industries' growth, including sealants and adhesives, since the pandemic disrupted the value chain.
The growth of the acetic acid market is directly linked to the growth of the automotive adhesives and sealants market. However, demand for acetic acid is likely to rise in the future years as safety standards improve worldwide. Many building goods, such as paints, thinners, and glues, include acetic acid or derivatives. Moreover, the downfall in construction activity in major countries like India, China, the U.S., and others have also been a significant factor during COVID-19.
Acetic Acid Market Segmentation Analysis
acetic acid market is segmented based on derivatives, form, end-user, and region.
Growing demand for vinyl acetate monomers for manufacturing polymers and copolymers will boost the acetic acid market
Based on derivatives, the global acetic acid market is segmented into vinyl acetate monomer, purified terephthalic acid, acetic anhydride, ester solvents, ethyl acetate, and others.
The major user of acetic acid is the vinyl acetate monomer manufacturing industry. VAM is the basis of laminating wallboard, white glue, and latex paint. Polymers derived from VAM are used in film products, safety glasses, and hot-melt adhesives. Although recent work has focused on alternative methods, most VAM is created by the oxidative addition of acetic acid to ethylene over palladium-based catalysts.
Vinyl acetate is a common vinyl ester used to make polymers and copolymers for coatings, paints, sealants, binders, and textile and paper industries. Many interior latex paints contain VAM-based polymers as the element that ensures the adhesion of all the ingredients and the shine of the finish. VAM is a starch modifier that can be utilized in food. Modified food starch is commonly used as a food additive for the same reasons traditional starches are: to thicken, stabilize, or emulsify food dishes such as soups, sauces, and gravy.
In 2018, Celanese Corporation announced acetic acid and vinyl acetate monomer capacity expansions and projects at the company’s global manufacturing facilities. The projects include Clear Lake, Texas VAM capacity expansion: Celanese expanded 150kT of annual VAM capacity at the Clear Lake facility by the fourth quarter of 2018. The total VAM capacity at the Clear Lake facility will be 450kT per annum, making it the most efficient VAM plant in the world.
Acetic acid and VAM debottlenecking projects: Celanese implemented a series of capital-efficient technology-oriented process improvement projects that will add 140kT per annum of acetic acid and 150kT per annum of VAM when needed by demand growth.
The presence of a majority of acetic acid manufacturing facilities will boost the market share of Asia-Pacific
Acetic acid is widely utilized in manufacturing coatings, greases, polyesters, and sealants, which find extensive applications in numerous industries, such as automobiles, construction textiles, and packaging. The comprehensive growth in these sectors symbolizes one of the significant factors driving the market growth in the Asia Pacific. For acetic acid producers, China has become the leading operating theater. Multiple sour acid plants have started production there or are about to. Demand for the ubiquitous chemical has been increasing fast in the country, where it finds its way into materials, including polyesters, vinyl, and engineering plastics. Polyvinyl acetate and copolymers of VAM are used to manufacture paints, paper coatings, adhesives, textile treatments, and plastics.
China is the largest acetic acid market globally and accounts for over half of the global production capacity. BP is an investor in China with several existing petrochemical manufacturing facilities, including two acetic acid joint ventures. In 2019, BP and China’s Zhejiang Petroleum and Chemical Corporation signed a memorandum of understanding to analyze the creation of a new equally-owned joint venture to build and operate a 1 million tons per annum acetic acid plant in China. In Zhoushan, Zhejiang Province, the proposed facility would deploy BP’s CAPTIVA XL technology to construct acetic acid for paints, adhesives, and solvents. It is also used to produce purified terephthalic acid (PTA), of which BP is a leading global manufacturer.
Acetic Acid Companies and Competitive Landscape
The global acetic acid market is highly competitive and fragmented, with several local and global brands. Players in the market include Celanese Corporation Jiangsu SOPO Co. Ltd, Eastman Chemical Company, Daicel Corporation, INEOS, Jiangsu Sopo Co. Ltd., Shandong Hualu-Hengsheng Chemical Co. Ltd., Shanghai Huayi Company, LyondellBasell Industries Holdings BV, Yankuang Cathay Coal Chemicals Co. Ltd., Kingboard Chemical Holdings Ltd. among others.
The major players in the market are known to incorporate numerous market strategies to achieve growth in the global acetic acid market; these include expansions, acquisitions, and launches.
Celanese Corporation
Overview: Celanese Corporation is a chemical and specialty materials company. The Company produces engineered polymers used in various high-value applications and acetyl products, which are intermediate chemicals for industries. The Company's portfolio serves a diverse set of end-use applications, including automotive, construction, consumer and industrial adhesives, chemical additives, consumer and medical, energy storage, filtration, paints and coatings, paper and packaging, food and beverage, performance industrial, and textiles. The Company's business includes processing chemical raw materials, such as methanol, ethylene, and natural products, and carbon monoxide, including wood pulp, into thermoplastic polymers, chemicals, and other chemical-based products.
Product Portfolio: Acetic Acid is primarily used as a raw material for producing vinyl acetate (VAM). It is also a reaction promoter in terephthalic acid production and raw material for acetate esters, cellulose acetate, acetic anhydride, chloroacetic acid, and industrial synthesis.
Key Development: In 2020, Celanese Chemical agreed with Southwest Institute of Chemical Company and Yankuang Lunan Chemical to build a pilot plant in China for production at an industrial scale of acrylic acid using acetic acid feedstock.
Frequently Asked Questions
What is the Projected CAGR value of the Acetic Acid Market?
The acetic Acid Market is expected to grow at a CAGR of 5.4% during the forecasting period 2023-2030.
Which region controlled the global market during 2023-2029?
North America region Controls the Acetic Acid Market during 2023-2030.
Which is the fastest-growing region in the Acetic Acid Market?
Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.
