Mounting Demand from End-Use Sectors Drives the Global Acetic Acid Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) June 16, 2014 -- Follow us on LinkedIn. – Acetic acid or ethanoic acid (commonly used as vinegar) is a colorless hygroscopic liquid, which freezes below 16.7°C and forms a white crystalline solid. The chemical is extensively used in various industrial and household applications. Acetic acid is often not consumed as-is in most end-use applications, and is converted to a usable intermediate such as ethyl acetate, vinyl acetate monomer (VAM), purified terephthalic acid (PTA), and acetic anhydride. These intermediates are used in the production of plastics, paints and coatings, among others. Manufacturers typically prefer to sell acetic acid in the form of intermediates or derivatives such as esters, anhydrides, PTA and VAM.
Acetic acid demand moves in-line with GDP rates and the growing demand from China is one of the prime factors pumping growth in the global market. Rise in demand for acetic anhydride and vinyl acetate monomer from end-use industries such as plastics, paints and coatings, acrylic lacquers, varnish removers, and photographic film, among others in China has been spearheading growth in demand worldwide. Rising demand for VAM in the adhesive & sealant industry has been a key factor encouraging growth. VAM is an important raw material used in manufacturing water-based adhesives. Similarly, PTA is an important raw material used in the production of poly ethylene (PET) that is extensively used in the construction and packaging industry. Rapid rates of industrialization and urbanization especially in the Asia-Pacific, Latin America and the Middle East have added to the demand growth for acetic acid as well as its intermediates in various end-use industries.
Vinyl Acetate Monomer (VAM) is used to synthesize base resins that find application in adhesives, water-based paints, paper coatings, textile finishes chewing gum and films manufacturing. Vinyl acetate can be polymerized to polyvinyl acetate or other polymers used as main components in paints and adhesives. Growing demand for adhesives from various end-use sectors including industrial and commercial is expected to drive growth in demand for acetic acid as a feedstock in the production of VAM. A large number of VAMs are used in the production of general-purpose, specialty and engineering adhesives. Adhesive manufacturers, against a backdrop of abundant supply and low cost advantage, are increasingly preferring raw materials derived from natural feedstock and other renewable sources for production of eco-friendly additives.
Purified terephthalic acid (PTA) is a major consumer of acetic acid, driven by the rising use of the intermediate in packaging applications. Growing demand for acetic acid in the production of PTA is therefore expected to benefit the market in the coming years. PTA serves as an important raw material for polyester manufacturing. Polyester, a derivative of PTA is one of largest synthetic fibre used in textiles. The chemical intermediate is extensively used for manufacturing polyethylene terephthalate (PET) film, sheet and moulded containers that find application in food packaging. Additionally, lightweight soft drink containers manufactured using PTA as a major constituent, are non-breakable and crystal clear. Blister packaging, boil-in-bag packages and retortable microwave packages are other popular PET-based packaging options.
As stated by the new market research report on Acetic Acid, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 5.8% over the analysis period. Growth in the region is driven by rising GDP, higher disposable income, growing consumption of goods and services and robust chemical manufacturing activities.
Major players covered in the report include BP plc, BP PETRONAS Acetyls Sdn Bhd, Samsung BP Chemicals Co Ltd., Chang Chun Petrochemical Co Ltd., China Petrochemical Development Corporation, Celanese Corporation, Daicel Corporation, Eastman Chemical Company, Gujarat Narmada Valley Fertilizers Company Ltd., Jiangsu Sopo (Group) Co Ltd., Jubilant Life Sciences Limited, Kuraray Co Ltd., LyondellBasell Industries, Showa Denko KK, SINOPEC Sichuan Vinylon Works and Wacker Chemie AG, among others.
The research report titled “Acetic Acid: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, regulations, issues, challenges, mergers, acquisitions, and other strategic industry activities of major players worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. End-use segment analyzed include VAM, Acetic Anhydride, Ethyl Acetate, Butyl Acetate, Other Acetates, PTA and Others (includes monochloroacetic acid among others).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Acetic_Acid_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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