(PRWEB) February 27, 2014
The global market for acetic acid is expected to reach USD 12.20 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand from application segments such as Vinyl Acetate Monomer (VAM) and Purified Terephthalic Acid (PTA) is expected to drive demand for acetic acid over the forecast period. PTA is the primary raw material for the manufacturing of PET which is a polymer extensively used in packaging industry. Positive outlook for the packaging industry, particularly in Asia Pacific is expected to directly impact the demand for acetic acid over the next six years.
VAM was the largest application segment for acetic acid and accounted for 32.4% of the global consumption in 2013. VAM is used in the adhesive and sealant industry, and the expected growth in automobile and construction industry in India, China, South Korea, Malaysia and Japan is expected to have a positive impact on the market. PTA was the second largest consumer of acetic acid, accounting for over 3 million tons in 2013, and is also expected to witness fastest growth, at an estimated CAGR of 5.8% from 2014 to 2020. Growing demand for PET in rigid packaging is expected to drive acetic acid demand over the next six years. However, the fluctuating raw material availability and prices is expected to be a key restraint for the growth of this market. The industry anticipates significant opportunity for producing acetic acid from alternate sources, with the market witnessing significant R&D investment recently.
The report “Acetic Acid Market Analysis And Segment Analysis To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/acetic-acid-market.
Further key findings from the study suggest:
Direct link for sample request of this report - http://www.grandviewresearch.com/request/224.
For the purpose of this study, Grand View Research has segmented the global acetic acid market on the basis of application and region:
Browse all report of Bulk Chemicals Market at http://www.grandviewresearch.com/industry/bulk-chemicals.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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