Acetic Acid Market size is expected to increase by 5.37 million tons, at a CAGR of 5.39% from 2022 to 2027

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Aug 18, 2023, 19:00 ET

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The growth of the Acetic Acid Market is driven by a number of factors, including the expanding paints and coatings sector, the increasing textile industry, and rising acetic acid consumption.

Technavio has announced its latest market research report titled Global Acetic Acid Market

According to Technavio, the Acetic Acid Market report provides a comprehensive analysis of market segmentation by application (VAM, PTA, acetic anhydride, and others), end-user (plastics and polymers, food and beverages, ink paints and coatings, chemicals, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The report also provides historical market data from 2017 to 2021, enabling a comprehensive understanding of market drivers, trends, challenges and developments. To view the historical data, get the sample report now!

The major companies in the Acetic Acid Market, include:

Airedale Chemical Co. Ltd
Ashok Alco Chem Ltd.
BP Plc, Celanese Corp
Daicel Corp
DubiChem Marine International
Eastman Chemical Co.
GNFC Ltd.
HELM AG
Indian Oil Corp. Ltd
INEOS Group Holdings SA
Jiangsu Sopo Corp. Ltd
Kingboard Holdings Ltd
Lonza Group Ltd
LyondellBasell Industries NV
Pentokey Organy (India) Ltd
Saudi Basic Industries Corp
Shandong Hualu Hengsheng Chemical Co. Ltd
Shanghai Huayi Fine Chemical Co. Ltd
Dow Inc.

Key drivers and trends fueling growth and reshaping the Acetic Acid Market:

Expansion in textile sector, particularly in emerging economies, boosts acetic acid demand as it is essential for cellulose acetate production.
Rising usage of vinyl acetate monomer (VAM) in applications like coatings, packaging, and automotive drives acetic acid consumption.
Emergence of electronic cigarettes impacts cellulose acetate demand for cigarette filters, influencing the acetic acid market.
Asia-Pacific's dominant market position, led by China and India, is driven by thriving textiles, pharmaceuticals, and packaging sectors, bolstered by post-pandemic economic resurgence.

Challenges Hindering Growth of the Acetic Acid Market

Challenges
1.	The popularity of electronic cigarettes as an alternative to conventional cigarettes affects the market's demand for cellulose acetate flakes, a major application of acetic acid, impacting its overall consumption.
2.	The uncertainty surrounding the long-term effects of electronic cigarettes prompts close monitoring by governments and regulatory bodies. This uncertainty can impact market dynamics and growth potential.
3.	Acetic acid production depends on feedstocks like methanol. Fluctuations in methanol prices can impact the cost structure of acetic acid production, affecting market stability.
4.	The acetic acid market is competitive with several major players. Mergers, acquisitions, and strategic alliances among these players can lead to shifts in market dynamics and intensify competition.

The acetic acid market is driven by the expansion of the textile industry and the essential role of acetic acid in cellulose acetate production. Challenges arise from the rise of electronic cigarettes, regulatory uncertainties, fluctuating raw material costs, and competitive dynamics. Despite these challenges, the Asia-Pacific region's dominance and post-pandemic recovery present growth opportunities. Companies must strategically navigate these factors to stay competitive and innovative in an ever-changing market landscape. The future of the acetic acid market hinges on its ability to adapt to shifting trends, regulations, and emerging prospects across diverse industries. The report provides valuable insights into market trends, drivers, challenges, and regional dynamics, empowering companies to refine marketing strategies and gain a competitive advantage in the market. To access the full report, please buy the complete report here.

Below, are a few suggested reports:

Monochloroacetic Acid Market: The monochloroacetic acid market share is expected to increase to USD 165.63 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.5%. The report of monochloroacetic acid market covers segmentation by application (Cellulosic, agrochemicals, thioglycolic acid, surfactants, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa).

Peracetic Acid Market: The peracetic acid market size has the potential to grow by USD 320.72 mn during 2020-2024, and the market's growth momentum will accelerate during the forecast period. This report provides a detailed analysis of the market by end-user (Food and beverages, Wastewater treatment, Pulp and paper, Healthcare, and others) and geography (North America, Europe, APAC, MEA, and South America).

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SOURCE Technavio