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Published Date: 2013-10-03Number of Pages: 80

Acetic Acid Market for VAM, PTA, Acetate Esters, Acetic Anhydride and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018

Acetic acid (Ethanoic acid) belongs to the family of carboxylic acids and is a colorless liquid which possesses a distinctive pungent smell and sour taste. It is classified as a weak acid although its concentrated form is corrosive in nature. Acetic acid is completely miscible in water and many other polar and non-polar solvents. It exhibits properties almost similar to other acids of the carboxylic family other than its unique property of forming ice like crystals, called if in the anhydrous form, a few degrees below the room temperature at approximately 16.6 °C, giving it the name of glacial acetic acid. Acetic acid finds its application as one of the most important chemical reagent in the chemical industry. It is primarily used in the production of cellulose acetate, polyvinyl acetate and in the manufacture of synthetic fibers and fabrics. Apart from its use in the chemical industry it finds major usage in household as a descaling agent food additive and as a condiment.

Acetic acid produced through methanol carbonylation accounts for almost 75% of the total production globally. Another major production method of acetic acid is by the oxidation of acetaldehyde although its share in production is of negligible significance as compared to the prior mentioned process.

Growing demand for vinyl acetate monomer (VAM) coupled with increasing demand for purified terephthalic acid (PTA) and ethyl acetate are the major factors driving the global market for acetic acid. Gradual upheaval of economies from economic depression has led to many technological changes, which have brought down capital requirements to a huge extent and have improved the profit margin for companies involved in the manufacturing of acetic acid. Incessant improvements in technology and focus on process improvement are further driving the growth of global acetic acid market.

Vinyl acetate monomer (VAM) emerged as the leading application, with over 30% of the global acetic acid consumption in 2011. Growing end-use industries such as adhesives and sealants are expected to fuel the acetic acid market growth. VAM was followed by Purified terephthalic acid (PTA) which is expected to be fastest growing market at an estimated CAGR of 5.4% in the next six years. Nearly the entire PTA produced globally is consumed in the manufacturing polyester fiber and polyethylene terephthalate (PET) that is further used in bottles and other packaging materials. Other key applications including food, pharmaceuticals, etc. together accounted for least share and are expected to grow at a lower growth rate compared to major applications, in the coming future. 

China led the global acetic acid market with 36.2% of the total consumption in 2011. Strong economic growth and rapid industrialization in China is expected to boost the acetic acid market in the coming future. North America and Europe are saturated market and hence are expected to show moderate growth rate in the next six years. The growth in Europe would be supported only by increasing demand from the emerging economy of Russia and other Eastern European countries, where rapid industrialization is taking place. Rest of the world includes countries from Latin America, Middle East and Africa, which together accounted for approximately 6% of the total demand for acetic acid in 2011.

global-acetic-acid-market-volume-share-by-geography-2011-2018

Acetic acid (Ethanoic acid) belongs to the family of carboxylic acids and is a colorless liquid which possesses a distinctive pungent smell and sour taste. It is classified as a weak acid although its concentrated form is corrosive in nature.Growing demand adhesives and PTA, which are key acetic acid consuming industries, is expected to drive the global acetic acid demand over the next five years. Moreover, growing application markets such as vinyl acetate monomer (VAM) and Polyethylene Terephthalate (PET) are expected to fuel the market growth in the coming future.

This report analyzes, estimates and forecasts the global acetic acid demand in terms of volumes (kilo tons) and revenues (USD million) from 2010 to 2018. The acetic acid report includes various drivers and restraints of the global market and analyses the impact of these factors over the forecast period. The study provides a comprehensive view of the acetic acid industry, by segmenting the global market by applications as well as geography. Each of acetic acid applications have been analyzed and market data has been provided for the period from 2010 to 2018, both, in terms of volumes (kilo tons) and revenue (USD million).

The report also analyzes each application of acetic acid with their potential of becoming an attractive market by using the market attractiveness analysis tool. The key application included in the acetic acid market are Vinyl acetate monomer (VAM), Purified terephthalic acid (PTA), acetate esters, acetic anhydride, other (pharmaceuticals, food, etc).The demand for each of the acetic acid application mentioned in the report has been given with regional analysis (North America, Europe, Asia Pacific and Rest of the World).

The report also includes value chain analysis for better understanding each player in the supply chain of acetic acid. The acetic acid report provides detailed analyses of various players and competition in the market using Porter’s five forces analysis. The study includes market share and company profiles of the key participants operating in the global acetic acid market. The company profiles provides with company information based on parameters such as company overview, financial overview, business strategies, SWOT analysis and recent developments. Key acetic acid market participants profiled in this report include Celanese, British Petroleum, Jiangsu Sopo, Eastman Chemical, Sinopec, LyondellBasell, Sasol, DuPont, BASF S.E., PetroChina Co. Ltd., Mitsubishi Chemical Company and Saudi Basic Industries Corporation (SABIC) among others. 

Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed the key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This approach has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities. The secondary research sources that are typically referred to include, company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings, internal and external proprietary databases, relevant patent and regulatory databases, national government documents, statistical databases and market reports, news articles, press releases and web-casts specific to the companies operating in the market. Secondary sources referred for acetic acid study include ICIS, plastemart magazine, TPE Magazine, adhesives magazine, greener industry and CCFEI

The report segments the global acetic acid market as,

Acetic acid Market: Application Analysis,
  • Vinyl acetate monomer (VAM)
  • Purified terephthalic acid (PTA)
  • Acetate esters
  • Acetic anhydride
  • Other (pharmaceuticals, food, etc) 
Acetic acid Market: Regional Analysis,
  • North America
  • Europe
  • China
  • Rest of Asia Pacific
  • Rest of the World


 
 
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