SELBYVILLE, Del., July 12, 2018 /PRNewswire-iReach/
Acetic Acid Market is expected to hit USD 16 billion by 2024. The acetic acid market will witness substantial gains due to increased demand in the manufacturing of purified terephthalic acid (PTA) and vinyl acetate monomer (VAM). It is majorly consumed in producing photographic chemicals, diketene, camphor, and mono chloroacetic acid that drives its market. Global chemical industry was above USD 5 trillion in 2013, its size has almost doubled in the last decade. This, positive outlook of chemical industry will boost product's consumption.
Acetic anhydride had a size of more than 1,400 kilo tons in 2016 in acetic acid market. Its extensive applications are in the production of medicines such as acetaminophen and aspirin. It is consumed in producing modified starches, that act as a food preservative as it is stable against mild acids and heat. These starches are ingredients of food products viz muesli bars, mayonnaises, sauces, flavored toppings, cake mixes, frozen cakes, ice-cream and frozen foods.
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Acetic acid is used as a raw material in an array of downstream chemicals. Vinegar is one such chemical, commonly used for cooking, and has recently developed as a food ingredient. Consumer awareness related to health benefits by consumption of vinegar in recommended quantity is rising its demand in food items. The global food market will grow at a CAGR of above 4% till 2024, escalating food industry and vinegar usage in these products will complement acetic acid market growth.
Europe had a size of above USD 1.4 billion in 2016 in the acetic acid market. Flourishing frozen food market in Spain, Italy and Germany will increase compound's demand as a food preservative.
The market is fragmented in nature with small and medium scale manufacturers including Saudi International Petrochemicals, Wacker Chemie, DuPont, Sinopec, PetroChina, LyondellBasell Industries, HELM AG, GNFC Limited, Daicel Corporation, and Mitsubishi Chemical. Major companies dominating the market are Sopo, Celanese, Eastman Chemicals and Bharat Petroleum.
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Chapter 2. Executive Summary
2.1. Acetic acid industry 360° synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Regional trends
Chapter 3. Acetic Acid Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.3.2. Distributor channel analysis
3.4. Industry impact forces
3.4.1. Growth drivers
126.96.36.199. Increasing usage of VAM in multiple industries
188.8.131.52. Consumption of purified terephthalic acid (PTA) in PET bottles
3.4.2. Industry pitfalls & challenges
184.108.40.206. Wavering prices of methanol
3.5. Regional price trends
3.5.1. Cost structure analysis
3.5.2. Raw material trends
3.6. Growth potential analysis
3.7. Technology & innovation landscape
3.7.1. Synthesis of acetic acid from bio-based materials gaining impetus
3.8. Bio-based acetic acid market potential & scope
3.8.1. Feedstocks analysis
220.127.116.11. Cheese whey waste
18.104.22.168. Poplar trees
22.214.171.124. Others (food waste, corn mill stillage, bakery residual etc.)
3.8.2. Raw material analysis
126.96.36.199. Biomass-based butanediol
188.8.131.52. Bio-derived syngas
3.8.3. Technology landscape
3.8.4. Penetration price
3.8.5. Commercialization status
3.8.6. Addressable market potential
184.108.40.206. Market estimates and forecasts, 2013 - 2024
220.127.116.11. Market estimates and forecasts by region, 2013 – 2024
3.8.7. List of bio-acetic acid manufacturers
3.8.8. Potential customers
3.9. Regulatory trends
3.10. Porter's analysis
3.11. Company market share analysis, 2016
3.11.1. Strategy dashboard
3.12. PESTEL analysis
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