Global Acetic Acid Market - Segmented by Application, and Geography - Trends and Forecasts (2015-2020) - Reportlinker Review
NEW YORK, Sept. 17, 2015 /PRNewswire/ -- Global Acetic Acid market was valued at 12,124.3 kilo metric tons in 2014 and is expected to reach 16,155.09 kilo metric tons by 2020, showing a compound annual growth rate of 4.9%. Asia-Pacific is the biggest consumer of in the industry, which consumed around 60% of the total global demand in 2014, followed by North America with a considerable demand. China is the biggest consumer, and is also among the fastest growing markets with an estimated CAGR of about 5.6% from 2014 to 2020. The European and North American markets are comparatively mature with a demand growth below the average market growth.
It is a key building block to manufacture various chemicals, such as Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetate Esters, and Acetic Anhydride that are further used by a wide range of end-user industries, such as synthetic fibers, textiles, inks, and pesticides.
The application segments covered in the study include vinyl acetate monomer, purified terephthalic acid, acetate esters and acetic anhydride. Vinyl acetate monomer (VAM) was the largest application segment for the market accounting for 32% of global acetic acid consumption in 2014. Consumption of acetic acid in the manufacturing of VAM generated revenue of over USD 2,000 million in 2014 primarily driven by the demand for VAM in the adhesive and sealant industry.
Acetate Esters manufacturing segment is expected to be the strongest growth segment of the market, which is primarily driven by the growing demand from coatings industry.
Among all the acetic acid derivatives, VAM led the market with the highest global consumption of more than 5.0 million tons, followed by ester solvents with total global consumption of around 4.0 million tons in 2014.
In addition, acetic acid has niche applications such as development of photographic films, household descaling agent, lysing of RBC (red blood cells), food preservatives and synthesis of metal acetate. Owing increasing number of applications over the past decades the scope of this market is expected to increase manifold in the coming years.
Companies profiled in the Acetic Acid market report include BP Plc., Celanese Corporation, Eastman Chemical Company, PetroChina, Daicel Corporation, LyondellBasell Industries N.V., Sasol, SABIC, Jiangsu Sopo Co. Ltd., and Kingboard Chemical Holdings Ltd. among others.
Drivers
Acetic acid is the main feedstock to manufacture vinyl acetate monomer, which was at the forefront in terms of volumetric consumption in 2012. It is mainly driven by the growing demand of polyvinyl acetates and vinyl alcohols, which in turn are accelerating the demand for acetic acid. VAM is a key raw material in the manufacturing of water based adhesive which accounts for close to 54% of the global adhesive and sealants market and the increasing demand from Asia Pacific is expected to boost the demand for acetic acid over the forecast period.
Restraints
Environmental concerns represent one of the major factors influencing the market for acetic acid. Demand is expected to rise as the chemical replaces solvents in printing inks, coatings and adhesives.
Opportunities
Adoption of innovative and path breaking technologies are providing 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. Saturation in western economies and mushrooming growth in Eastern economies have spurred globalization of industries. Together with the opportunities to expand presence, globalization brought with it a host of problems that are region-specific and hence, the regional governments' foreign trade and investment policies and formation of free trade areas are of critical importance.
What the report contains
The report elucidates the situation of Acetic Acid around the world and studies its markets by application which include Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetate Esters, Acetic Anhydride and Others.
Lastly, the report is divided by geography - North America, Europe, the Asia-Pacific (APAC), South America and Middle-East & Africa (MEA); where-in the market share of each region is analyzed and estimates are provided for the next 5 years.
Read the full report: http://www.reportlinker.com/p03281926-summary/view-report.html
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