NEW YORK, November 28, 2016 /PRNewswire/ --
Growing demand from packaging and films coupled with increasing consumption of purified terephthalic acid in textile industry to drive India acetic acid market
According to recently published TechSci Research Report, "India Acetic Acid Market Study 2011-2025", the acetic acid market in India is anticipated to grow at a CAGR of over 9% during 2016 - 2025, on account of growing utilization of acetic acid as a raw material for the production of Purified Terephthalic Acid (PTA) coupled with increasing applications in manufacturing of ethyl acetate, butyl acetate and anhydrides in the country. Acetic acid is used in a wide range of end user industries like pharmaceuticals, textiles, packaging, films, adhesives, paints & coatings, etc.
In 2015-2016, production of Purified Terephthalic Acid (PTA) in India stood at 6,950 Kilo Tons, and this is expected to increase steadily during the forecast period. As a significant amount of acetic acid is consumed during the manufacturing of PTA, expanding PTA capacity is expected to positively influence the India acetic acid during 2016 - 2025. In addition, PTA is also used during the manufacturing of polyester fiber in India. In 2015, the production of man-made fiber in India stood at 4,140 thousand tons. Ethyl acetate is forecast to be fastest growing application segment in India acetic acid market during the forecast period.
Western India is the major demand generating region for acetic acid in the country, owing to presence of number of end use industries for acetic acid in this region. "Growing use of acetic acid in the country's pharmaceutical sector for production of specialty chemicals and APIs is another major factor driving the demand for acetic acid in the country. Moreover, presence of large textile producing companies such as Reliance Industries Ltd. and IOCL are further boosting demand for acetic acid in India." said Mr. Karan Chechi, Research Director, with TechSci Research, a research based global management consulting firm.
"India Acetic Acid Market Study, 2011 - 2025" has evaluated the future growth potential of India acetic acid market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in India acetic acid market.
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