Acetic Acid Market Size, Share, Revenue, Trends, and Drivers For 2024-2033

The Business Research Company's Acetic Acid Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 17, 2024 /EINPresswire.com/ -- The acetic acid market has experienced robust growth in recent years, expanding from $15.33 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to chemical industry growth, textile and fiber production, surface coating applications, widespread use in pharmaceuticals, paper and pulp processing, rise in water treatment needs.

What Is The Estimated Market Size Of The Global Acetic Acid Market And Its Annual Growth Rate?
The acetic acid market is projected to continue its strong growth, reaching $20.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to bio-based acetic acid production, rising demand for ethyl acetate, growth in packaging industry, focus on green chemistry, demand for acetic anhydride, increasing use in automotive coatings.

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Growth Driver Of The Acetic Acid Market
Rising expansion in the textile sector is expected to boost the growth of the acetic acid market going forward. The textile industry involves research, design, development, manufacturing, and distribution of textiles, fabrics, and clothing. In the textile industry, acetic acid is used in producing rayon, the majority of latex, and artificial materials, as well as for fabric dyeing.

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Who Are The Leading Competitors In The Acetic Acid Market Share?
Key players in the market include Eastman Chemical Company, LyondellBasell Industries NV, Daicel Corporation, Shanghai Huayi Group Corporation Limited, Celanese Corporation, BP plc, Saudi Basic Industries Corporation (SABIC), HELM AG, Airedale Chemical Company Limited, Indian Oil Corporation Limited, Wacker Chemie AG, DuPont de Nemours Inc., Mitsubishi Chemical Corporation, Showa Denko K.K., Kingboard Chemical Holdings Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Jubilant Life Sciences Limited, China Petroleum & Chemical Corporation (Sinopec), PetroChina Company Limited, Jiangsu Danhua Group Co. Ltd., Chang Chun Group, Chongqing Chuandong Chemical (Group) Co. Ltd., China National Chemical Corporation, Yankuang Cathay Coal Chemicals Co. Ltd., Sinochem Group, Sichuan Vinylon Works, Shandong Yankuang Group Co. Ltd., Sasol Limited, Saudi International Petrochemical Company, Solvay SA, Kuraray Co. Ltd., The Procter & Gamble Company

What Are The Dominant Trends In Acetic Acid Market Growth?
Major companies operating in the market are focused on investing in producing bio-based acetic acid to reduce the carbon footprint and gain a competitive edge in the market. Investment in bio-based acetic acid production refers to the allocation of resources, capital, and research and development activities towards the production of acetic acid from renewable resources such as agricultural waste, forestry residues, and cellulosic materials.

How Is The Global Acetic Acid Market Segmented?
1) By Sales Channel: Direct Company Sale, Direct Import, Distributors and Traders, Retailers
2) By Application: Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, Other Applications
3) By End-Use: Food and beverages, Paints and coating, Plastics and Polymers, Pharmaceutical, Chemicals, Other End-Uses

Geographical Insights: Asia-Pacific Leading The Acetic Acid Market
Asia-Pacific was the largest region in the market analysis in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Acetic Acid Market Definition
Acetic acid is an organic substance with a strong odor and sour flavor. It is a carboxylic acid comprised of a carboxyl functional group connected to a methyl group with the chemical formula CH3COOH and usually, it is a by-product of fermentation.

Acetic Acid Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global acetic acid market report covering trends, opportunities, strategies, and more
The Acetic Acid Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on acetic acid market size, acetic acid market drivers and trends, acetic acid market major players and acetic acid market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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