Albany, New York, USA (PRWEB) October 09, 2013
According to a new market report published by Transparency Market Research "Acetic Acid Market for VAM, PTA, Acetate Esters, Acetic Anhydride and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018", the global acetic acid market was valued at USD 5.93 billion in 2011 and is expected to reach USD 10.31 billion by 2018, growing at a CAGR of 9.3% over the forecast period from 2012 to 2018. In terms of volume, global demand was 9,612.5 kilo tons in 2011 and is expected to grow at a CAGR of 4.8% over the forecast period from 2012 to 2018.
Browse the full report with Complete TOC at http://www.transparencymarketresearch.com/acetic-acid-market.html
Vinyl acetate monomer (VAM) and purified terephthalic acid (PTA), which are major applications of acetic acid together accounted for over 55% of the global consumption in 2011. Growing demand of both the applications from the end-use industries such as adhesives, sealants and packaging has been fueling market growth. However, volatile raw material prices may a pose a challenge to the industry participants in the coming future.
Vinyl acetate monomer (VAM) dominated market demand and accounted for 32.5% of the global acetic acid consumption in 2011. VAM demand is expected to remain strong over the next five years owing to growth of global adhesives and sealants industry. PTA followed VAM in terms of consumption and is expected to be fastest growing market at an estimated CAGR of 5.4% over the forecast period from 2012 to 2018. PTA application is expected to show substantial growth on the account of growing demand from polyethylene terephthalate (PET) and other end-uses. Other applications acetate esters and acetic anhydride together accounted for 27.3% of the global consumption in 2011.
China emerged as the leading consumer of acetic acid with 36.2% of the global demand in 2011. Strong economic growth coupled with rapid industrialization is expected to boost the acetic acid market in the region. In addition, China is also expected to be the fastest growing market at an estimated CAGR of 5.4%, from 2012 to 2018. North America and Europe followed the Asian market and are expected to experience moderate growth due to saturated demand from end-use industries.
The global acetic acid market is highly concentrated with the top four market participants accounting for over 60% of the global market in 2011. Key participants in the market include Cleanse Corporation, British Petroleum PLC., JinagsuSopo, Eastman Chemical, LyondellBasell, SABIC and Yancon Cathay Chemicals.
Growing demand adhesives and PTA, which are key acetic acid consuming industries, is expected to drive the global acetic acid demand over the next five years. Moreover, growing application markets such as vinyl acetate monomer (VAM) and Polyethylene Terephthalate (PET) are expected to fuel the market growth in the coming future.
Related Report : Synthetic And Bio-Based Adipic Acid Market
This report analyzes, estimates and forecasts the global acetic acid demand in terms of volumes (kilo tons) and revenues (USD million) from 2010 to 2018. The report includes various drivers and restraints of the global market and analyses the impact of these factors over the forecast period. The study provides a comprehensive view of the acetic acid industry, by segmenting the global market by applications as well as geography. Each of its applications have been analyzed and market data has been provided for the period from 2010 to 2018, both, in terms of volumes (kilo tons) and revenue (USD million).
The report also analyzes each application of acetic acid with their potential of becoming an attractive market by using the market attractiveness analysis tool. The demand for each of the acetic acid application mentioned in the report has been given with regional analysis (North America, Europe, Asia Pacific and Rest of the World).