The
strong outlook of the global adhesives industry combined with the increasing
demand for polyethylene terephthalate (PET) will drive demand for acetic acid
in the coming years, finds Transparency Market Research in its latest report.
The market study, titled ‘Acetic
Acid Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2012 - 2018,’ states that the market will log a 9.3%
CAGR through the report’s forecast period. While the global acetic acid market was valued at US$5.93 bn in
2011, it will stand at US$10.31 bn by 2018.
The
report also estimates the global acetic acid market in volume terms. When
studied thus, the report notes that the demand for acetic acid was 9,612.5 kilo
tons in 2011 globally. In terms of volume, the global acetic acid market is
expected to post a 4.8% CAGR over the report’s forecast period. Although
projected to exhibit good growth in terms of both revenue and volume, the
volatility in raw material prices will adversely impact the global acetic acid
market. However, the impact of this restraint can potentially be alleviated by
the emerging opportunity of TCX technology, which marks a breakthrough in the
production of fuel ethanol.
Request A Sample- https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1638
Acetic
acid witnesses a high demand from various chemical processes as it is an
important chemical reagent. Besides industrial uses, acetic acid also finds
applications in the form of a condiment, food additive, as well as a descaling
agent. Acetic acid is produced either via methanol carbonylation or
acetaldehyde oxidation. The former method is used for producing about 75% of
acetic acid globally.
On
the basis of applications, the report segments the global acetic acid market
into vinyl acetate monomer (VAM), acetate esters, purified terephthalic acid
(PTA), and acetic anhydride. Of these, VAM and PTA are the leading applications
of acetic acid, collectively accounting for more than 55% of the total acetic
acid consumption globally in 2011. End-use industries such as adhesives and
sealants and packaging are seen to stimulate the demand for both of these
applications over the report’s forecast period. The demand for VAM is projected
to remain strong through 2018 thanks primarily to high demand from end-use
industries. TMR analysts expect PTA to show the highest rate of growth till
2018 among all application types in the global acetic acid market.
REQUEST FOR COVID19 IMPACT ANALYSIS – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=1638
Likewise,
the study also segments the global acetic acid market on the basis of geography
for an in-depth analysis. Segmented thus, the market is composed of North
America, Europe, China, Rest of Asia Pacific, and Rest of the World. In 2011,
China consumed an estimated 36.2% of all acetic acid produced globally, making
it the single-largest market for acetic acid. China’s leading position in the
acetic acid market can be credited to a high degree of industrialization in the
country, backed duly by strong economic progress. The China acetic acid market
is projected to log a CAGR of 5.4% between 2012 and 2018. The growth of the
acetic acid market will not be as promising in North America and Europe because
demand from end-use industries here nearing a point of saturation.
From
the competitive standpoint, the global acetic acid market is characterized by
the dominance of the four top market players, who collectively hold over 60% of
the market. Leading players in the acetic acid market are: Celanese
Corporation, British Petroleum PLC, Eastman Chemical, JinagsuSopo, SABIC, and
LyondellBasell.
Purchase A Report- https://www.transparencymarketresearch.com/checkout.php?rep_id=1638<ype=S
Chemicals
and Materials Sector
The Acetic Acid market has been undergoing some remarkable
growth dynamics, shaped increasingly by digital technologies and environmental
sustainability concerns of product development. Over the decades, the feedstock
variability and the onslaught of cheaper substitutes have squeezed in profit
margins of the chemical and materials sector. On the other hand, the value
chain of several businesses in the Acetic Acid market has undergone overhaul,
increasingly rendering some aspiring players with greater control over the
forces and demand. The penetration of Industry 4.0 in in the market has stirred
game-changing trends for range of stakeholders in the overall chemicals and
materials sector. Manufacturing and production environments of businesses in
the Acetic Acid market are keen on formulating and implementing strategic
frameworks that will turn them into digital enterprises.
