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Key Players in the Acetic acid market: LyondellBasell Industries N.V. (The Netherlands), Shandong Hualu-Hengsheng Chemical Co. Ltd. (China), Shanghai Huayi (Group) Company (China), Yankuang Cathay Coal Chemicals Co. Ltd. (China).
(PRWEB) October 31, 2014
The report, "Acetic Acid Market & Its Derivatives Market by Applications & Geography - Trends & Forecasts to 2018 ", defines and segments the global acetic acid & its derivatives market with analysis and forecasting of the global volume and value.
Browse 94 market data tables and 34 figures spread through 183 slides and in-depth TOC on "Acetic Acid Market, Geography - Trends & Forecasts to 2018".
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Acetic acid is a colorless liquid with a strong pungent odor with a boiling point of 118°C, melting point of 16.6°C, and molecular weight of 60.05 g/mol. It is mainly produced by the methanol carbonylation technique wherein methanol and carbon monoxide react to produce acetic acid. Acetic acid is a carboxylic acid, which is an important feedstock to manufacture various chemicals, such as vinyl acetate monomer (VAM), purified terephthalic acid (PTA), acetic anhydride, and ester solvents (ethyl acetate & butyl acetate) that are further used in various industries.
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The demand for acetic acid in the region is anticipated to grow at a CAGR of about 5.01% from 2013 to 2018. It is expected that China and Taiwan are the biggest consumers of acetic acid in the region, followed by Japan in 2012. India is expected to be the fastest growing market of acetic acid. The continuous rise in the production of end products for use within the region and for exports derives a huge demand for chemicals. A few of the reasons for the high growth in this region are growing population, vast economies–developed as well as developing, and favorable investment policies and government initiatives to promote the industrial growth.
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The other factors driving the industry are increasing penetration of ester solvents (ethyl acetate & butyl acetate) in the coating industry and the increasing consumption of purified terephthalic acid (PTA) in the textile & packaging industry, which may in turn augment the demand for acetic acid at a notable rate
The acetic acid market is highly innovation-centric and the market players are pushing their capabilities to adopt the latest technological trends. They are focusing on the development of next generation technologies with alternate feedstock that enable to differentiate from their competitors providing a competitive edge to the companies. Hence, positive technological breakthroughs may elevate the demand for acetic acid and may also turn out to be a significant opportunity for market players in the near future. Also, various upcoming capacities of acetic acid derivative plants are witnessed in the coming years that could boost the production and the demand for acetic acid, globally.
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