Acetic Acid Market by Concentration (Concentrated, Dilute, Glacial), Form (Crystallized, Liquid), Grade, Application, End-user - Global Forecast 2024-2030
Description
Acetic Acid Market by Concentration (Concentrated, Dilute, Glacial), Form (Crystallized, Liquid), Grade, Application, End-user - Global Forecast 2024-2030
The Acetic Acid Market size was estimated at USD 7.57 billion in 2023 and expected to reach USD 8.08 billion in 2024, at a CAGR 7.22% to reach USD 12.33 billion by 2030.
Acetic acid is an organic compound that is a colorless liquid, with the main components being vinegar and water, and is characterized by a sour taste and pungent smell. It is used widely in the chemical industry as a precursor for producing various chemical compounds, including vinyl acetate monomer, purified terephthalic acid, and acetic anhydride. The rising need in the food & beverage industry and the expanding application of acetic acid in the pharmaceutical industry propels its demand. However, volatility in raw material prices, particularly methanol, environmental problems over the production and disposal of acetic acid, and stringent regulations regarding its use and manufacturing may impede the use of acetic acid across diverse end-use applications. Technological advancements that can result in more sustainable production processes, the exploration of bio-based acetic acid, and its application in manufacturing greener solvents for paint and coatings industries are expected to create potential growth for the acetic acid market.
Regional Insights
The Americas showcases a stable acetic acid market primarily supported by the increased demand for acetic acid from the packaging, textiles, and food industries. The Americas is a significant consumer and producer of acetic acid, with major regional companies involved in strategic partnerships and expansion activities to leverage advanced technologies. Additionally, the focus on sustainable practices is prompting investment in research for cleaner production processes with reduced wastage and emissions. In Europe, the Middle East, and Africa, the European Union exhibits a well-established acetic acid market with stringent regulations, especially concerning environmental implications, driving the need for innovative and sustainable solutions. Recent patents in the EU demonstrate advancements in catalysts and production methods that reduce environmental strain.
Furthermore, initiatives such as the European Green Deal may impact market dynamics, spurring eco-friendly production and consumption behaviors. In the Middle East and Africa, acetic acid consumption is growing, driven by growing industrialization and the development of the manufacturing sector. Investments in the chemical sector to diversify economies away from the oil industry have witnessed a rising interest in developing petrochemical and downstream industries, including those utilizing acetic acid. The Asia-Pacific region has been showcasing the most robust demand for acetic acid due to a growing population, industrialization, and the expansion of the manufacturing sector, especially in China, India, and Japan. These factors fuel a rise in vinyl acetate monomer (VAM), purified terephthalic acid (PTA), and acetate esters, all of which use acetic acid as a vital raw material. Furthermore, increased investments in production capacity have been observed, reflected by several patents filed to enhance production efficiency and environmental compliance.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Acetic Acid Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Utilization of VAM and PTA in the textile and packaging industries
- Increasing demand in the food and beverage industry
- Expanding application of acetic acid in the pharmaceutical industry
- Market Restraints
- Volatility in prices of raw materials for the production of acetic acid
- Market Opportunities
- Increasing production and demand for bio-based acetic acid globally
- Ongoing collaborations and expansion activities to enhance acetic acid production
- Market Challenges
- Environmental issues and safety concerns pertaining to the use and exposure to acetic acid
- Market Segmentation Analysis
- Concentration: Burgeoning adoption of glacial acetic acid owing to its high usage in industrial applications
- End User: Evolving usage of acetic acid in the chemical industry
- Form: Growing preference for crystallized form of acetic acid in industries due to its high purity
- Grade: Increasing consumer demand for packaged foods & beverages driving food grade acetic acid adoption
- Application: Rising global demand for polymers products boost the production of vinyl acetate monomer
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Acetic Acid Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Acetic Acid Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- INEOS Completes Acquisition of Eastman's Acetic Acid Plant in Texas
INEOS AG acquired Eastman Chemical Company's Texas City facilities, including the significant 600kt Acetic Acid plant and related third-party engagements. This strategic move aligns with INEOS Acetyls' ambition to bolster its global presence and connectivity in the acetyls market.
Ashok Alco-Chem Gets Nod to Sell 100% Stake in M/s. Aeon Procare
Ashok Alco Chem Limited gained approval for the divestment of its entire equity stake, comprising 50,35,000 shares valued at INR 10 each, in its wholly owned subsidiary, M/s Aeon Procare, to M/s Ashapura International, a member of the Ashapura Group. This transaction, valued at INR 12 crore, marks a strategic shift for Ashok Alco-Chem, reinforcing its position and focus within the chemical industry sector.
U.S. Celanese Start of New Clear Lake Acetic Acid Plant
Celanese Corporation initiated its new acetic acid facility in Clear Lake, Texas, due to identifying defects in certain high-metal components supplied for the project. Consequently, Celanese anticipates the expansion, boasting a production capacity of 1.3 million tonnes per annum, to commence earnings contributions in early 2024, diverging from initial expectations for operational start within the third quarter of this year.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Acetic Acid Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Acetic Acid Market, highlighting leading vendors and their innovative profiles. These include Altiras Chemicals LLC, Anant Pharmaceuticals Pvt. Ltd., Ashok Alco Chem Limited, Azelis Group NV, BP PLC, Celanese Corporation, Central Drug House (P) Ltd., China Petroleum & Chemical Corporation, Daicel Corporation, Eastman Chemical Company, Finar Limited by Aceto Holding GmbH, Godavari Biorifineries Limited, Gujarat Narmada Valley Fertilizers & Chemicals Limited, Hawkins, Inc., Hebei Jinchangsheng Chemical Technology Co., Ltd., HELM AG, Indian Oil Corporation Ltd., INEOS AG, Jubilant Ingrevia Limited, Junsei Chemical Co.,Ltd., Kanto Chemical Co., Inc., Kingboard Group Limited, Kishida Chemical Co.,Ltd., Lenzing AG, LyondellBasell Industries Holdings B.V., Merck KGaA, Mitsubishi Chemical Corporation, Nacalai Tesque, Inc., Noah Chemicals, INC, Sahara International Petrochemical Company, Saudi Basic Industries Corporation, SEKAB BioFuels & Chemicals AB, Spectrum Chemical Mfg. Corp., Sucroal S.A., Vizag Chemicals International, Wacker Chemie AG, Yankuang Energy Group Company Limited, Zhengzhou Batong Industrial Co., Ltd., and Zhengzhou Thadol Industry Co., Ltd..
Market Segmentation & Coverage
This research report categorizes the Acetic Acid Market to forecast the revenues and analyze trends in each of the following sub-markets:- Concentration
- Concentrated
- Dilute
- Glacial
- Glacial 100%
- Glacial 99.5%
- Glacial 99.6%
- Glacial 99.8%
- Glacial 99.9%
- Form
- Crystallized
- Liquid
- Grade
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
- Reagent Grade
- Application
- Acetate Esters
- Acetic Anhydride
- Butyl Acetate
- Ethanol
- Purified Terephthalic Acid
- Vinyl Acetate Monomer
- End-user
- Agriculture
- Chemicals
- Food & Beverages
- Paints & Coating
- Pharmaceutical
- Plastics & Polymers
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Market Drivers
Table of Contents
185 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Utilization of VAM and PTA in the textile and packaging industries
- 5.1.1.2. Increasing demand in the food and beverage industry
- 5.1.1.3. Expanding application of acetic acid in the pharmaceutical industry
- 5.1.2. Restraints
- 5.1.2.1. Volatility in prices of raw materials for the production of acetic acid
- 5.1.3. Opportunities
- 5.1.3.1. Increasing production and demand for bio-based acetic acid globally
- 5.1.3.2. Ongoing collaborations and expansion activities to enhance acetic acid production
- 5.1.4. Challenges
- 5.1.4.1. Environmental issues and safety concerns pertaining to the use and exposure to acetic acid
- 5.2. Market Segmentation Analysis
- 5.2.1. Concentration: Burgeoning adoption of glacial acetic acid owing to its high usage in industrial applications
- 5.2.2. End User: Evolving usage of acetic acid in the chemical industry
- 5.2.3. Form: Growing preference for crystallized form of acetic acid in industries due to its high purity
- 5.2.4. Grade: Increasing consumer demand for packaged foods & beverages driving food grade acetic acid adoption
- 5.2.5. Application: Rising global demand for polymers products boost the production of vinyl acetate monomer
- 5.3. Market Trend Analysis
- 5.3.1. Widespread adoption of acetic acid in polymer production and food processing sector across the Americas
- 5.3.2. Expanding production of acetic acid with a focus on using sustainable practices in the Asia-Pacific region
- 5.3.3. Strategic expansion of the pharmaceutical sector, coupled with expanding production of bio-based acetic acid in the EMEA region
- 5.3.4. Acetic Acid Pricing Analysis by Concentration, Grade, Region
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Acetic Acid Market, by Concentration
- 6.1. Introduction
- 6.2. Concentrated
- 6.3. Dilute
- 6.4. Glacial
- 7. Acetic Acid Market, by Form
- 7.1. Introduction
- 7.2. Crystallized
- 7.3. Liquid
- 8. Acetic Acid Market, by Grade
- 8.1. Introduction
- 8.2. Food Grade
- 8.3. Industrial Grade
- 8.4. Pharmaceutical Grade
- 8.5. Reagent Grade
- 9. Acetic Acid Market, by Application
- 9.1. Introduction
- 9.2. Acetate Esters
- 9.3. Acetic Anhydride
- 9.4. Butyl Acetate
- 9.5. Ethanol
- 9.6. Purified Terephthalic Acid
- 9.7. Vinyl Acetate Monomer
- 10. Acetic Acid Market, by End-user
- 10.1. Introduction
- 10.2. Agriculture
- 10.3. Chemicals
- 10.4. Food & Beverages
- 10.5. Paints & Coating
- 10.6. Pharmaceutical
- 10.7. Plastics & Polymers
- 11. Americas Acetic Acid Market
- 11.1. Introduction
- 11.2. Argentina
- 11.3. Brazil
- 11.4. Canada
- 11.5. Mexico
- 11.6. United States
- 12. Asia-Pacific Acetic Acid Market
- 12.1. Introduction
- 12.2. Australia
- 12.3. China
- 12.4. India
- 12.5. Indonesia
- 12.6. Japan
- 12.7. Malaysia
- 12.8. Philippines
- 12.9. Singapore
- 12.10. South Korea
- 12.11. Taiwan
- 12.12. Thailand
- 12.13. Vietnam
- 13. Europe, Middle East & Africa Acetic Acid Market
- 13.1. Introduction
- 13.2. Denmark
- 13.3. Egypt
- 13.4. Finland
- 13.5. France
- 13.6. Germany
- 13.7. Israel
- 13.8. Italy
- 13.9. Netherlands
- 13.10. Nigeria
- 13.11. Norway
- 13.12. Poland
- 13.13. Qatar
- 13.14. Russia
- 13.15. Saudi Arabia
- 13.16. South Africa
- 13.17. Spain
- 13.18. Sweden
- 13.19. Switzerland
- 13.20. Turkey
- 13.21. United Arab Emirates
- 13.22. United Kingdom
- 14. Competitive Landscape
- 14.1. Market Share Analysis, 2023
- 14.2. FPNV Positioning Matrix, 2023
- 14.3. Competitive Scenario Analysis
- 14.3.1. INEOS Completes Acquisition of Eastman's Acetic Acid Plant in Texas
- 14.3.2. Ashok Alco-Chem Gets Nod to Sell 100% Stake in M/s. Aeon Procare
- 14.3.3. U.S. Celanese Start of New Clear Lake Acetic Acid Plant
- 14.3.4. Sekab Launches Expanded Production of Bio-Based Acetic Acid
- 14.3.5. Lenzing Launches New Carbon Neutral Version of its Acetic Acid Biobased
- 14.3.6. KBR, Inc. Acquires Acetic Acid Technology
- 14.3.7. Technip Energies Enters Engineering Services Agreement With INEOS Acetyls for Acetic Acid Technology
- 14.3.8. Land Acquired for Monochloroacetic Acid Manufacturing Unit in Maharashtra
- 14.3.9. INEOS to Build World Scale Acetic Acid Plant and Associated Derivatives on U.S. Gulf Coast
- 14.3.10. Jubilant Ingrevia Commissions Green Ethanol Based Acetic Acid Plant
- 15. Competitive Portfolio
- 15.1. Key Company Profiles
- 15.2. Key Product Portfolio
Pricing
Currency Rates
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