Acetic Acid Market Overview and Forecast by 2031
The Acetic Acid Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The acetic acid market report is segmented by derivatives (vinyl acetate monomer, purified terephthalic acid, acetic anhydride, acetic esters, and others). The report further presents an analysis based on the application (food and beverages, pharmaceuticals and nutraceuticals, personal care and cosmetics, household cleaning products, and others). The global analysis is further broken down at the regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis, segments, regions, and countries. The report covers market trends, as well as market dynamics such as drivers, restraints, and key opportunities.
Purpose of the ReportThe report Acetic Acid Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Acetic Acid Market Segmentation
Derivatives- Vinyl Acetate Monomer
- Purified Terephthalic Acid
- Acetic Anhydride
- Acetic Esters
- Food and Beverages
- Pharmaceuticals and Nutraceuticals
- Personal Care and Cosmetics
- Household Cleaning Products
Strategic Insights
Acetic Acid Market Growth Drivers- Acetic Acid Demand Driven by Vinyl Acetate Monomer and PTA Applications: A key driver for the acetic acid market is its application in the synthesis of vinyl acetate monomer (VAM) and purified terephthalic acid (PTA). These intermediates are significant in the production of adhesives, paints, and textiles, among many other applications, products, and uses that are in high demand as industrial activities expand across the world.
- Increasing Demand for Paints and Coatings Boosting Acetic Acid Market: In many interior latex paints, vinyl acetate monomer-based polymers are used to provide adhesion to ingredients. Many vinyl acetate monomer-based derivatives are used as a coating in plastic films for food packaging. Polyvinyl alcohol is applied in photosensitive coatings. The increasing demand for paints & coatings across the world is further boosting the demand for vinyl acetate monomer, thus boosting the demand for acetic acid.
- Food and Beverage Industry Driving Acetic Acid Consumption: Food and beverage sectors require enormous quantities of acetic acid for preservation or as a flavoring agent. It is applied in the formulating of pickling solutions, marinades, and salad dressings among others. A high demand for preserved and processed foods drives the acetic acid market.
- Growth of Bio-based Acetic Acid as a Sustainable Trend: The development of bio-based acetic acid is expected to be a key trend in the acetic acid market. Increasing demand for sustainable and environmentally friendly alternatives to well-established petrochemical-based products describes a growing trend in relation to bio-based acetic acid in the chemical industry.
- Environmental Concerns Driving the Shift to Bio-based Acetic Acid: As global concerns about environmental issues emerge stronger, countries are endeavoring hard to make their industries more sustainable in every possible way. The more environmentally friendly alternative compared to fossil-based acetic acid comes in the form of bio-based acetic acid, which is derived from biomass, bio-based ethanol, and other products from agriculture.
- Bio-based Acetic Acid Gaining Popularity for Greener Manufacturing: Bio-based acetic acid is attractive to both consumers and businesses since it matches the demands of lowering carbon footprints and greener manufacturing processes. Various advantages of bio-based acetic acid are booting its adoption in various end-use industries. Further, various players operating in the market are also strongly focusing on developing and offering bio-based acetic acid.
- Personal Care and Cosmetics Industry Driving Acetic Acid Market Growth: The strong growth of the personal care and cosmetics industry is expected to offer more lucrative opportunities for the acetic acid market growth during the coming years. Acetic acid has wide applications in the personal care and cosmetics industry.
- Acetic Acid's Role in Personal Care Products Boosting Market Demand: This acetic acid is used as a pH adjuster, preservative, and solvent in many personal care products. Because acetic acid stabilizes formulations, leading to better product performance, it makes a very beneficial product in cosmetics, skincare, and hair care. Further, the growth of the personal care and cosmetics industry is fueled by the increasing disposable income, growing urbanization, and development of e-commerce platforms.
- Rising Demand for Bio-based Acetic Acid in Cosmetics Industry: Furthermore, the consumption of bio-based acetic acid from renewable resources is increasing rapidly due to the growing preference among consumers for natural and organic personal care products, thereby indicating sustainable growth in the cosmetics industry. Brands are trending towards eco-friendly and sustainable alternatives to traditional petrochemical ingredients. This shift toward bio-based products is increasing the demand for acetic acid in this industry.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Acetic Acid Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Acetic Acid Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Acetic Acid Market is estimated to witness a CAGR of 6% from 2023 to 2031
A high demand from the food and beverage industry is driving the market growth
LyondellBasell Industries Holdings B.V, Altiras Chemicals LLC, Stellar Export, Eastman Chemical Company, Celanese Corporation, GNFC Ltd., INOS, Mitsubishi Chemical Group Corporation, SABIC, and Sipchem Company are the key players operating in the acetic acid market.
Based on application, the personal care and cosmetics segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the acetic acid market due to strong growth of the food and beverage, cosmetics, and pharmaceuticals industry in the region.
The development of bio-based acetic acid is expected to be the key market trends.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Acetic Acid Market - By Application
1.3.2 Acetic Acid Market - By Region
1.3.2.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ACETIC ACID MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ACETIC ACID MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ACETIC ACID MARKET - GLOBAL MARKET ANALYSIS
6.1. ACETIC ACID - GLOBAL MARKET OVERVIEW
6.2. ACETIC ACID - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ACETIC ACID MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. VINYL ACETATE MONOMER (VAM)
7.3.1. Overview
7.3.2. Vinyl acetate monomer (VAM) Market Forecast and Analysis
7.4. PURIFIED TEREPHTHALIC ACID (PTA)
7.4.1. Overview
7.4.2. Purified Terephthalic Acid (PTA) Market Forecast and Analysis
7.5. ACETATE ESTERS
7.5.1. Overview
7.5.2. Acetate Esters Market Forecast and Analysis
7.6. ACETIC ANHYDRIDE
7.6.1. Overview
7.6.2. Acetic Anhydride Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. ACETIC ACID MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1 North America Acetic Acid Market Overview
8.1.2 North America Acetic Acid Market Forecasts and Analysis
8.1.3 North America Acetic Acid Market Forecasts and Analysis - By Application
8.1.4 North America Acetic Acid Market Forecasts and Analysis - By Countries
8.1.4.1 United States Acetic Acid Market
8.1.4.1.1 United States Acetic Acid Market by Application
8.1.4.2 Canada Acetic Acid Market
8.1.4.2.1 Canada Acetic Acid Market by Application
8.1.4.3 Mexico Acetic Acid Market
8.1.4.3.1 Mexico Acetic Acid Market by Application
8.2. EUROPE
8.2.1 Europe Acetic Acid Market Overview
8.2.2 Europe Acetic Acid Market Forecasts and Analysis
8.2.3 Europe Acetic Acid Market Forecasts and Analysis - By Application
8.2.4 Europe Acetic Acid Market Forecasts and Analysis - By Countries
8.2.4.1 Germany Acetic Acid Market
8.2.4.1.1 Germany Acetic Acid Market by Application
8.2.4.2 France Acetic Acid Market
8.2.4.2.1 France Acetic Acid Market by Application
8.2.4.3 Italy Acetic Acid Market
8.2.4.3.1 Italy Acetic Acid Market by Application
8.2.4.4 United Kingdom Acetic Acid Market
8.2.4.4.1 United Kingdom Acetic Acid Market by Application
8.2.4.5 Russia Acetic Acid Market
8.2.4.5.1 Russia Acetic Acid Market by Application
8.2.4.6 Rest of Europe Acetic Acid Market
8.2.4.6.1 Rest of Europe Acetic Acid Market by Application
8.3. ASIA-PACIFIC
8.3.1 Asia-Pacific Acetic Acid Market Overview
8.3.2 Asia-Pacific Acetic Acid Market Forecasts and Analysis
8.3.3 Asia-Pacific Acetic Acid Market Forecasts and Analysis - By Application
8.3.4 Asia-Pacific Acetic Acid Market Forecasts and Analysis - By Countries
8.3.4.1 Australia Acetic Acid Market
8.3.4.1.1 Australia Acetic Acid Market by Application
8.3.4.2 China Acetic Acid Market
8.3.4.2.1 China Acetic Acid Market by Application
8.3.4.3 India Acetic Acid Market
8.3.4.3.1 India Acetic Acid Market by Application
8.3.4.4 Japan Acetic Acid Market
8.3.4.4.1 Japan Acetic Acid Market by Application
8.3.4.5 South Korea Acetic Acid Market
8.3.4.5.1 South Korea Acetic Acid Market by Application
8.3.4.6 Rest of Asia-Pacific Acetic Acid Market
8.3.4.6.1 Rest of Asia-Pacific Acetic Acid Market by Application
8.4. MIDDLE EAST AND AFRICA
8.4.1 Middle East and Africa Acetic Acid Market Overview
8.4.2 Middle East and Africa Acetic Acid Market Forecasts and Analysis
8.4.3 Middle East and Africa Acetic Acid Market Forecasts and Analysis - By Application
8.4.4 Middle East and Africa Acetic Acid Market Forecasts and Analysis - By Countries
8.4.4.1 South Africa Acetic Acid Market
8.4.4.1.1 South Africa Acetic Acid Market by Application
8.4.4.2 Saudi Arabia Acetic Acid Market
8.4.4.2.1 Saudi Arabia Acetic Acid Market by Application
8.4.4.3 U.A.E Acetic Acid Market
8.4.4.3.1 U.A.E Acetic Acid Market by Application
8.4.4.4 Rest of Middle East and Africa Acetic Acid Market
8.4.4.4.1 Rest of Middle East and Africa Acetic Acid Market by Application
8.5. SOUTH AND CENTRAL AMERICA
8.5.1 South and Central America Acetic Acid Market Overview
8.5.2 South and Central America Acetic Acid Market Forecasts and Analysis
8.5.3 South and Central America Acetic Acid Market Forecasts and Analysis - By Application
8.5.4 South and Central America Acetic Acid Market Forecasts and Analysis - By Countries
8.5.4.1 Brazil Acetic Acid Market
8.5.4.1.1 Brazil Acetic Acid Market by Application
8.5.4.2 Argentina Acetic Acid Market
8.5.4.2.1 Argentina Acetic Acid Market by Application
8.5.4.3 Rest of South and Central America Acetic Acid Market
8.5.4.3.1 Rest of South and Central America Acetic Acid Market by Application
9. INDUSTRY LANDSCAPE
9.1. MERGERS AND ACQUISITIONS
9.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3. NEW PRODUCT LAUNCHES
9.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
10. ACETIC ACID MARKET, KEY COMPANY PROFILES
10.1. SIPCHEM
10.1.1. Key Facts
10.1.2. Business Description
10.1.3. Products and Services
10.1.4. Financial Overview
10.1.5. SWOT Analysis
10.1.6. Key Developments
10.2. MITSUBISHI CHEMICAL CORPORATION
10.2.1. Key Facts
10.2.2. Business Description
10.2.3. Products and Services
10.2.4. Financial Overview
10.2.5. SWOT Analysis
10.2.6. Key Developments
10.3. EASTMAN CHEMICAL COMPANY
10.3.1. Key Facts
10.3.2. Business Description
10.3.3. Products and Services
10.3.4. Financial Overview
10.3.5. SWOT Analysis
10.3.6. Key Developments
10.4. LYONDELLBASELL INDUSTRIES HOLDINGS B.V.
10.4.1. Key Facts
10.4.2. Business Description
10.4.3. Products and Services
10.4.4. Financial Overview
10.4.5. SWOT Analysis
10.4.6. Key Developments
10.5. BP PLC
10.5.1. Key Facts
10.5.2. Business Description
10.5.3. Products and Services
10.5.4. Financial Overview
10.5.5. SWOT Analysis
10.5.6. Key Developments
10.6. GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LIMITED
10.6.1. Key Facts
10.6.2. Business Description
10.6.3. Products and Services
10.6.4. Financial Overview
10.6.5. SWOT Analysis
10.6.6. Key Developments
10.7. DAICEL CORPORATION
10.7.1. Key Facts
10.7.2. Business Description
10.7.3. Products and Services
10.7.4. Financial Overview
10.7.5. SWOT Analysis
10.7.6. Key Developments
10.8. CELANESE CORPORATION
10.8.1. Key Facts
10.8.2. Business Description
10.8.3. Products and Services
10.8.4. Financial Overview
10.8.5. SWOT Analysis
10.8.6. Key Developments
10.9. HELM AG
10.9.1. Key Facts
10.9.2. Business Description
10.9.3. Products and Services
10.9.4. Financial Overview
10.9.5. SWOT Analysis
10.9.6. Key Developments
10.10. PENTOKEY ORGANY INDIA LTD
10.10.1. Key Facts
10.10.2. Business Description
10.10.3. Products and Services
10.10.4. Financial Overview
10.10.5. SWOT Analysis
10.10.6. Key Developments
10.11. YANKUANG GROUP
10.11.1. Key Facts
10.11.2. Business Description
10.11.3. Products and Services
10.11.4. Financial Overview
10.11.5. SWOT Analysis
10.11.6. Key Developments
10.12. JIANGSU SOPO (GROUP) CO., LTD.
10.12.1. Key Facts
10.12.2. Business Description
10.12.3. Products and Services
10.12.4. Financial Overview
10.12.5. SWOT Analysis
10.12.6. Key Developments
10.13. KINGBOARD HOLDINGS LIMITED
10.13.1. Key Facts
10.13.2. Business Description
10.13.3. Products and Services
10.13.4. Financial Overview
10.13.5. SWOT Analysis
10.13.6. Key Developments
10.14. KANORIA CHEMICALS AND INDUSTRIES LTD
10.14.1. Key Facts
10.14.2. Business Description
10.14.3. Products and Services
10.14.4. Financial Overview
10.14.5. SWOT Analysis
10.14.6. Key Developments
10.15. HYDRITE CHEMICA
10.15.1. Key Facts
10.15.2. Business Description
10.15.3. Products and Services
10.15.4. Financial Overview
10.15.5. SWOT Analysis
10.15.6. Key Developments
10.16. PON PURE CHEMICALS GROUP
10.16.1. Key Facts
10.16.2. Business Description
10.16.3. Products and Services
10.16.4. Financial Overview
10.16.5. SWOT Analysis
10.16.6. Key Developments
10.17. INEOS
10.17.1. Key Facts
10.17.2. Business Description
10.17.3. Products and Services
10.17.4. Financial Overview
10.17.5. SWOT Analysis
10.17.6. Key Developments
10.18. OTTOKEMI
10.18.1. Key Facts
10.18.2. Business Description
10.18.3. Products and Services
10.18.4. Financial Overview
10.18.5. SWOT Analysis
10.18.6. Key Developments
10.19. MERCK KGAA
10.19.1. Key Facts
10.19.2. Business Description
10.19.3. Products and Services
10.19.4. Financial Overview
10.19.5. SWOT Analysis
10.19.6. Key Developments
10.20. THE CHEMICAL COMPANY
10.20.1. Key Facts
10.20.2. Business Description
10.20.3. Products and Services
10.20.4. Financial Overview
10.20.5. SWOT Analysis
10.20.6. Key Developments
11. APPENDIX
11.1. ABOUT THE INSIGHT PARTNERS
11.2. GLOSSARY OF TERMS
1. Sipchem
2. Mitsubishi Chemical Corporation
3. Eastman Chemical Company
4. LyondellBasell Industries Holdings B.V.
5. BP plc
6. Gujarat Narmada Valley Fertilizers and Chemicals Limited
7. DAICEL CORPORATION
8. Celanese Corporation
9. HELM AG
10. Pentokey Organy India Ltd
11. Yankuang Group
12. Jiangsu SOPO (Group) Co., Ltd.
13. Kingboard Holdings Limited
14. Kanoria Chemicals and Industries Ltd
15. Hydrite Chemica
16. Pon Pure Chemicals Group
17. INEOS
18. Ottokemi
19. Merck KGaA
20.The Chemical Company
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.