NEW YORK, May 25, 2015 /PRNewswire/ -- The report covers the important acetic acid global markets. It further divides the market on the basis of applications and geography. The market data for these types is given with respect to volume (kilotons) and value ($million). The market size by value of acetic acid was estimated to be $1,444 million in 2014 and is projected to register a CAGR of about 1% between 2014 and 2019. The data mentioned in the report are based on the European demand for acetic acid.
This report gives an idea about the current proceedings in the industry at the commercial level. The study provides the value chain analysis with respect to acetic acid raw materials, manufacturers, and end users. The value chain describes the key contributors to the materials market at different stages from product development to end use. It represents the top players that contribute to the acetic acid industry.
The impact of different market factors, such as drivers, restraints, and opportunities is also illustrated in the report. This gives an idea about the key drivers such as, budding vinyl acetate monomer demand, growing textile and packaging industry, and the increasing market reach of ester solvents in coating industries; and restraints such as mature market of acetic anhydride. Acetic anhydride is mainly used for the production of cellulose acetate flake, which is employed as feedstock for fibers in textiles or in cigarette filters by conversion into cellulose acetate tow. However, in the recent past, the demand for cigarette filter tow has constantly dropped which has led to decline of acetic acid demand. and current economic condition of Europe. The economic slowdown in Europe and U.S. also affected the economy of other developed countries that are of key importance for the commercial success of new materials and its end-user market.
The acetic acid market is also classified based on different applications. The important applications include vinyl acetate monomer, purified terephtalic acid, ester solvents, acetic anhydride, and others. The synthetic fiber and textile industries are expected to show rapid growth in the future.
The key companies in this market are BASF SE (Germany), BP PLC (United Kingdom), Wacker Chemie (Germany), and others. These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. Investments in expansion of plant capacities, followed by acquisitions were the most preferred strategies by the top players in the year 2013 & 2014 that are driving the demand of acetic acid. Their strategy to capture the market in developing economies includes expansions and agreements.
Germany emerged to be the driving factor for this market in European region, contributing for about 32% of the global demand in terms of consumption in 2014, due to the availability of cheaper raw materials and low labour cost. The important emerging countries, such as the U.KGermany, Belgium and Russia are further lined up for a brighter future in this market.
The report also presents a competitive landscape covering different strategies and developments, such as mergers & acquisitions, expansions, and agreements undertaken by the leading acetic acid companies in the past few years. Furthermore, different acetic acid market participants are also profiled in the report.
Scope of the report
The report segments the European acetic acid market as:
The acetic acid market has been covered in detail in this report. In order to provide an all-round picture, the current market demand and forecasts have also been included.
On the basis of applications:
- Vinyl acetate monomer
- Purified terephtalic acid
- Ester solvents
- Acetic anhydride
Each application is described in detail in the report with volume and revenue forecasts for each application.
On the basis of countries:
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