Acetic Acid: A Global Strategic Business Report
San Jose, CA (PRWEB) October 28, 2008
Global acetic acid market is anticipated to rise by 4.5% over the period 2001-2010, leveraging on strong growth emanating from Asia-Pacific, particularly from China. Rapid growth of acetic acid market in China has encouraged investors to pour million of dollars in establishing acetic acid units. Influx of advanced technology and dollar rain from multinational companies, particularly from Western Europe and US, provided the impetus for fast paced growth. Asia has emerged as the production hub for acetic acid worldwide, as the market major moved towards China. Irrespective of cyclic trends, few manufacturers including Celanese and BP are establishing manufacturing plants in China. Worldwide annual production capacity of acetic acid is expected to shoot up as many acetic acid plants come on stream in near future. Robust growth in acetic acid capacity in China enables the country to become net acetic acid exporter rather than importer.
United States represents the largest market for acetic acid worldwide, with sales estimated at 2 million tons, as stated by Global Industry Analysts, Inc. Asia-Pacific accounts for over 50% of the global acetic acid sales. Consumption of acetic acid in vinyl acetate monomer in the United States is projected to reach the 1-milion ton mark by 2011. European acetic acid market is dominated by Germany, accounting for a share of over 36%.
Leading global and regional players operating in the market include British Petroleum, Celanese Corp, China Petroleum & Chemical Corporation (Sinopec Corp), Daicel Chemical, Kyodo Sakusan, DuPont, Eastman Chemicals, Jilin Chemical Industrial, Kuraray Co, LyondellBasell Industries, Millennium Chemicals, Showa Denko and Sterling Chemicals.
The report titled "Acetic Acid: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product profile, players, recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets including US, Canada, Japan, France, Germany, the UK, Italy, Asia-Pacific and Latin America for the period 1991-2015. Analytics are provided in terms of end-use segments including Vinyl Acetate Monomer, Acetic Anhydride, Ethyl Acetate, Butyl Acetate and Purified Terephthalic Acid.
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About Global Industry Analysts, Inc.
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