Vinyl Acetate Monomer (VAM) Is The Fastest Growing Segment Fueling The Growth Of Acetic Acid Market

https://www.coherentmarketinsights.com/market-insight/acetic-acid-market-4377
Acetic Acid Market 


The global Acetic Acid Market is estimated to be valued at US$ 14.63 Bn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview


Acetic acid, also known as ethanoic acid, is a colorless liquid organic compound produced through carbon monoxide oxidation of an ethanol or methanol feedstock. It is mainly used in the production of vinyl acetate monomer (VAM), purified terephthalic acid (PTA), and acetate esters. The unique advantages of acetic acid include application in food additives, fragrances, medicines, and more.

Market key trends


One of the key trends driving the growth of the acetic acid market is the growing demand for vinyl acetate monomer (VAM). VAM is a derivative of acetic acid and finds major application in the production of textiles, paints & coatings, adhesives & sealants, and other end-use industries. The increasing construction activities along with the rising household and industrial usage of paints and textiles are fueling the demand for vinyl acetate monomer, thereby boosting the consumption of acetic acid across the globe.


Segment Analysis


The global acetic acid market is dominated by the vinyl acetate monomer (VAM) sub-segment. About 60% of acetic acid produced globally is used to manufacture VAM, which is primarily used to produce polyvinyl acetate (PVA) polymers. These polymers find application in adhesives, paints, coatings and paper processing industries. The VAM sub-segment is dominating due to the high demand for PVA polymers from these end-use industries.

Key Takeaways


The global Acetic Acid Market Share is expected to witness high growth, exhibiting CAGR of 9.7% over the forecast period, due to increasing demand from food and beverage industry.

Regional analysis - Asia Pacific dominates the global acetic acid market and is expected to maintain its dominance throughout the forecast period. China, India and Japan are the fastest growing markets in the region due to presence of large end-use industries in these countries. North America and Europe hold a significant share due to high demand from food and beverage industries in these regions.

Key players - Key players operating in the acetic acid market are Celanese Corporation, British Petroleum, Eastman Chemical Company, Jiangsu Sopo (Group) Co., Ltd., China Petroleum & Chemical Corporation (Sinopec), Lyondell Basell Industries, Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Company, PetroChina Co. Ltd., PetroChina Co. Ltd., BASF SE. Celanese Corporation is the largest producer of acetic acid globally.

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