Europe Acetic Acid Market - Segmented by Application and End-User Industry, and Geography - Trends and Forecasts (2017 - 2022)
The European acetic acid market (henceforth referred to as the European market, unless specified otherwise) was valued at XX thousand metric tons in 2016. This market is expected to reach XX thousand metric tons by 2022, growing at a CAGR of % during the forecast period 2017 – 2022 (henceforth referred to as the forecast period).
A wide range of end-user industries like synthetic fibers, textiles, inks, and pesticides use acetic acid as a key building block to manufacture various chemicals, such as Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), acetate esters, and acetic anhydride. Many companies who are into manufacturing acetic acid derivatives are planning to backward integrate to manufacture acetic acid. Adoption of innovative and path-breaking technologies is providing a competitive edge to the companies to enhance their profit margins vis-a-vis competitors. Accordingly, manufacturers of acetic acid are increasingly adopting these technologies over age-old technologies such as low-water technology.
Factors such as an increasing demand for paints & coatings from the European automotive industry and growing textile & packaging industry are driving the market. The market has certain restraints such as environmental concerns, which are likely to hamper the market growth. Opportunities such as emerging technologies for acetic acid and bio-based acetic acid are likely to fuel the market growth in the future.
Vinyl Acetate Monomer (VAM) was the largest application segment for the market, which accounted for 34% of the global acetic acid consumption in 2015. Consumption of acetic acid in the manufacturing of VAM generated revenue of over USD 2 million in 2015. The demand for VAM in the adhesive and sealant industry is the primary driver for the same. The acetate esters segment is expected to be the strongest growth segment of the market, owing to the growing demand from the coatings industry.
The market has been segmented by application (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetate Esters, Acetic Anhydride, and Others), and by end-user industry (Construction, Automotive, Food & Beverage, Textiles, and Others).
Further, geographically, the market has been split into Germany, the United Kingdom, Italy, France, Spain and Rest of Europe. Acetic acid is the main feedstock to manufacture Vinyl Acetate Monomer, which was at the forefront in terms of volumetric consumption in 2016.The growing demand for polyvinyl acetates and vinyl alcohols primarily drives the market, which in turn, is accelerating the demand for acetic acid. VAM is the key raw material in the manufacturing of water-based adhesives, which account for a significant share of the adhesive and sealants market. The increasing demand from Germany is expected to boost the demand for acetic acid over the forecast period.
The major companies profiled in the Europe report include British Petroleum, Celanese Corporation, Daicel Corporation. DuPont, and Eastman Chemical Company.
Key Deliverables in the Study:
Market analysis for the Europe Acetic Acid Market, with country specific assessments and competition analysis on regional scale Market definition along with the identification of factors instrumental in changing the market scenarios and prospective opportunities Extensively researched competitive landscape section with profiles of major companies along with their market shares Identification and analysis of the macro and micro factors that affect the market A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.