Acetic Acid Market Analysis, Development, Revenue, Future Growth, Business Prospects and Forecast to 2027

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Feb 01, 2021 (The Expresswire) —
The globalacetic acid marketsize is expected to reach USD 13.79 billion by 2027, exhibiting a CAGR of 8.4% during the forecast period. The rising consumption of solvents such as VAM in the chemical industry for paints and coatings, adhesives and sealants will bolster the healthy growth of the market, states Fortune Business Insights, in a report, titledAcetic Acid Market Size, Share and COVID-19 Impact Analysis, By Application (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Ester Solvents, Acetic Anhydride, Others), and Regional Forecast, 2020-2027.”The market size stood at USD 8.34 billion in 2019.

Market Driver:

Advancements in Polymer Development to Bolster Growth

The growing technological advancements in polymers and products made out of VAM will significantly aid the expansion of the market. The growing demand for VAM in the production of ethylene vinyl alcohol (EVOH), a barrier resin in food packaging, gasoline tanks, and other engineering polymers will have an excellent effect on the market. Some other VAM derivatives such as vinyl chloride-vinyl acetate copolymers have applications in adhesives and sealants, which, in turn, will bolster the health of the market for acetic acid. Moreover, It also has applications in adhesive due to adhesion properties to different substrates that include wood, paper, metals, and plastic films.

Decreased Production to Hamper Market in COVID-19 Pandemic

The reduced production of chemicals has negatively impacted on the market growth. The shutdown of factories due to a shortage of laborers and diminished supply of raw materials can dwindle the sales, in turn, affecting the growth of the market. However, the demand for acetic acid alongside the high consumption of sanitizers will subsequently aid in the recovery of the business amid coronavirus. Besides, health and safety concerns in healthcare facilities will further improve the prospects of the market in the near future.

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Key Points Covered:

  • Business Opportunities

  • Commerce Challenges

  • Demand Insights

  • CAGR Values

  • Historic Analysis

  • Detailed Segmentation

  • Top Companies Data

  • Market Size

  • Supply Trend

  • Target Audience

  • Key Geographies

Regional Analysis:

Heavy Investments in Polymers to Promote Growth in Asia Pacific

The market for acetic acid in Asia Pacific is expected to hold the largest share in the global market owing to the rising polymer formulations in the region. The chemical is a key raw material used for the production of polymers in industries across Japan, China, and India. China is a major leader in polymers and chemicals. China’s capacity further helps in the high production of ethanoic acid. According, to Chemical Market Associates, Inc. (CMAI) 400,000 tons per year demand is in China, from the global average demand. The improving construction industry in India is expected to further boost growth in the region. Europe is expected to hold a significant share during the forecast period owing to the rising demand from end-use sectors. The growing import activities will aid expansion in Europe. Moreover, the high production of methanol carbonylation, which has accounted for up to 65% of the world capacity, and other process oxidation of acetaldehyde by German producer Wacker will significantly create opportunities for the market in the region.

The report on theacetic acid market involves:

  • Greater insights into the market

  • Profound analysis of the segments

  • Market drivers and restraints

  • Comprehensive information about prominent players

  • Dominant regions

  • COVID-19 drastic effect on the market

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Key Development:

October 2019:BP and China’s Zhejiang Petroleum and Chemical Corporation (ZPCC) announced a memorandum of understanding (MOU) for exploring the creation of an equally-owned joint venture between the companies to build and operate 1 million tons per annum of the acetic acid plant in eastern China.

The Report Lists the Key Companies in the Acetic Acid Market:

  • BP Plc (UK)

  • Shanghai Huayi (Group) Company (China)

  • LyondellBasell Industries (The Netherlands)

  • Daicel Corporation (Japan)

  • Shandong Hualu-Hengsheng Chemical Co. Ltd. (China)

  • Jiangsu Sopo (Group) Co. Ltd. (China)

  • Kingboard Chemical Holdings Ltd. (Hong Kong)

  • Eastman Chemical Company(U.S.)

  • Lonza (Switzerland)

  • Wacker Chemie AG (Germany)

  • Other Key Players

Key Questions Answered:

  • Why Choose Fortune Business Insights?

  • What are the key demands and trends shaping the market?

  • What are the key opportunities in the market?

  • What are the key companies operating in the market?

  • Which company accounted for the highest market share?

  • What is the market size and growth rate of the global and regional market by various segments?

  • What is the market size and growth rate of the market for selective countries?

  • Which region or sub-segment is expected to drive the market in the forecast period?

  • What Factors are estimated to drive and restrain the market growth?

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessinsights.com/acetic-acid-market-103386

Detailed Table of Content:

  • Introduction

  • Executive Summary

  • Market Dynamics

  • Key Insights

  • Qualitative Insights Impact of COVID-19 on Global Acetic Acid Market

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Fortune Business Insights™offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Acetic Acid Market Analysis, Development, Revenue, Future Growth, Business Prospects and Forecast to 2027

COMTEX_379969506/2598/2021-02-01T04:29:05

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