Acetic Acid Market Average Price By Player, 2014 - 2024 - Million Insights
Author : samual sttdhag | Published On : 01 Apr 2022
Growing demand for biaxially oriented PET film in food packaging and thermal insulation applications is projected to have a substantial impact. However, rising spending towards toward the development of 100% bio-based PET by CSD companies including Coca-Cola Company is expected to force PTA manufacturers to prefer bio-based paraxylene as raw material over acetic acid and thus, in turn, will pose a significant challenge.
The increasing acceptance of advanced polyesters in the textile sector on account of providing excellent properties of breathability, and durability as compared to other conventional polymers is expected to open new markets. Growing importance of diluents and eco-friendly solvents including acetate esters in food & beverage industry as a result of high market visibility in developing countries including China and India is expected to expand the demand for acetic-based product forms.
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The acetic acid market in China was 5,391.4 kilo tons in 2015 and is expected to witness significant gains on account of strong foothold of VAM and acetate esters on a domestic level. Furthermore, the positive outlook towards packaging industry as a result of significant gains in application segments including food & beverage and pharma is expected to drive the market.
North America accounted for 15.9% of global volume share in 2015. Significant improvement in automotive sector of the Mexico as a result of new product launches in four wheeler segments by Nissan is expected to increase the consumption of VAM and thus, in turn, will fuel acetic acid demand in the near future.
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Key acetic acid market participants include Eastman Chemicals, British Petroleum, Saudi International Petrochemicals, Celanese, DuPont, Wacker Chemie, Jiangsu Sopo (Group) Co., Ltd. In April 2016, AkzoNobel and Atul Limited announced the establishment of new mono chloroacetic acid manufacturing unit in Gujrat, India. This facility is expected to serve the food & beverage, pharma, and agriculture application segments and will open new markets over the forecast period.
Global Acetic Acid Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• Acetic anhydride
• Acetate esters
Global Acetic Acid Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
• North America
• Asia Pacific
• Latin America