Home Bulk Chemicals Acetic Acid Market Size, Growth and Forecast to 2031

Acetic Acid Market

Acetic Acid Market Size, Share & Trends Analysis Report By Manufacturing Process (Synthetic, Natural), By Application (Vinyl Acetate Monomer, Cellulose Acetate, Acetate Esters, Acetic Anhydride, Chloroacetic Acid, Terephthalic Acid), By End User (Adhesives & Paints, Pharmaceutical, Food & Beverages) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2031

Report Code: SRCH809DR
Study Period 2019-2031 CAGR 4.5%
Historical Period 2019-2021 Forecast Period 2024-2031
Base Year 2022 Base Year Market Size USD 21.10 Billion
Forecast Year 2031 Forecast Year Market Size USD 31.37 Billion
Largest Market Asia-Pacific Fastest Growing Market North America
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Market Overview

The Acetic Acid Market Size was valued at USD 21.10 billion in 2022. It is projected to reach USD 31.37 billion by 2031, growing at a CAGR of 4.5% during the forecast period (2023–2031).

Ethanoic acid and methane carboxylic acid are other names for acetic acid (CH3COOH), a colorless organic chemical with a pungent, acrid, and sour odor. It is one of the most important industrial chemicals and chemical reagents in producing volatile organic esters like cellulose, metal, vinyl acetates, and ethyl and butyl acetates. Throughout the anticipated time frame, market growth is anticipated to be supported by acetic acid's expanding use in the production of terephthalic acid.

Terephthalic acid is a crucial building block in the production of polyester resins, which are widely used in polyester films, PET resins, and polyester fibers. In addition to home furnishings, terephthalic acid is used to manufacture textiles such as bed linens, clothing, and curtains. In the manufacturing sector, diluted acetic acid is widely used as a crucial chemical reagent in the production of cellulose acetate. It is also frequently used as a descaling agent. It is anticipated that market growth will occur during the forecast period due to the increasing use of acetic acid in the production of terephthalic acid. The market is comprehensively evaluated in the report on the global acetic acid market.

Market Dynamics

What Are the Driving Factors for Acetic Acid?

  • Demand for Vinyl Acetate Monomer is Growing to Support the Growth

The intermediate vinyl acetate monomer (VAM) creates resins and polymers for textiles, films, paints, coatings, and other finished goods. Barrier resins for plastic bottles use VAM. It also has uses in adhesives because of its versatility in adhering to wood, paper, metals, and plastic films. The expansion of the sectors above is driving demand for vinyl acetate monomer. The VAM application that is growing the fastest in the production of ethylene vinyl alcohol is the use of barrier resin in food packaging, gas tanks, and other engineering polymers. Other VAM derivatives, like vinyl chloride-vinyl acetate copolymers, have also been used in adhesives and sealants. Technological developments aimed at creating polymers and other goods using VAM as a raw material successfully raise the product acetic acid demand for vinyl acetate monomers, thereby favorably influencing market expansion.

  • Demand for Glacial Acetic Acid Increases Due to Food Preservation

Glacial acetic acid is becoming more popular as a food and beverage acidity regulator. Additionally, a growing population highlights an increase in the demand for food and drink. Glacial acetic acid, the main component of vinegar, is gaining popularity in households. Additionally, glacial acetic acid is used to create acetic anhydride. The production of acetic anhydride uses glacial acetic acid as a condensing agent. Because the cost of raw materials is relatively low, manufacturers favor glacial acetic acid. The wide range of domestic uses keeps the demand for glacial acetic acid growing. Therefore, the market for glacial acetic acid will experience an upward growth trajectory in the food and beverage sector.

What Are the Main Factors That Are Limiting The Market For Acetic Acid?

  • Acetic Acid's Negative Effects Can Slow Market Growth

If not used correctly and safely, it could be a dangerous chemical. It must be handled carefully because it damages human skin and eyes. If swallowed or inhaled, it can harm internal organs as well. Additionally, consumers' growing awareness of the harmful effects of chemicals may discourage their use, which would hurt the market's expansion. VAM is a mature market that will gradually grow or decline and is one of the primary uses for acetic acid. A decrease in VAM consumption could hinder market expansion by acting as a restraint. Acetic acid solutions of 80% or more can be corrosive when in contact with the skin or eyes, severely burning any exposed tissue. Chronic bronchitis and other respiratory issues, tooth enamel erosion, cracked and darkened skin, and other effects are brought on by prolonged exposure to the vapors of this substance.

What Are the Future Opportunities For Acetic Acid?

  • Increasing growth in the textile industry

Acetic acid, also known as ethanolic acid, is frequently used to produce metal acetate and vinyl acetate, which are then used to create chemical reagents for paints, volatile organic esters, photographic films, and textiles. In the textile industry, acetic acid is frequently used in the printing and dying of textiles. Acetic acid is also used in the textile industry. It produces rayon, mostly latex, artificial fabrics, and fabric dyeing. When making fabrics, their hygroscopic qualities absorb moisture from the surroundings. Because a garment is made of cloth, adding acetic acid will not completely transform it into an acid. Synthetic fibers are produced in the textile industry using vinyl acetate monomer. The increased demand for textiles drives the market's growth and is anticipated to account for a sizeable portion of acetic acid sales.

Regional Analysis

The global acetic acid market is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.

Asia Pacific Dominates the Global Market

Asia Pacific is the most significant global acetic acid market shareholder and is expected to grow at a CAGR of 6.13% during the forecast period. China, Australia, India, Japan, and the rest of Asia-Pacific are all included in the Asia-Pacific acetic acid market analysis. This increase is primarily attributable to numerous end-use industries, including textile, food and beverage, agricultural, home cleaning products, polymers, paints, and coatings. Increased urbanization and disposable income in the area have also contributed to the region’s industrial growth. Vinegar, vinyl acetate, and metal acetate are all products of acetic acid that are used in a variety of end-use industries. Additionally, Asia-Pacific is one of the significant regions for producing plastic, which presents enormous opportunities for local businesses to prosper. According to Plastic Europe, China produces 32% of plastic worldwide. As a result, the region's rapid growth in several end-use industries is also fueling the growth of the acetic acid market.

North America is expected to grow at a CAGR of 6.76% during the forecast period. The U.S. and Canada are included in the analysis of the acetic acid market in North America. Due to the growth of the chemical industry and increased demand from end-use industries like the textile and construction sectors, ethanol is now used more frequently in various applications. Due to increased investments and expanding production facilities from significant corporations like Celanese and BP Plc, the market for ethanoic acid has grown. An increase in consumer spending and disposable income is also fueling the growth of the textile and construction industries. The pace of chemical consumption is supported by an increase in the textile industry due to the U.S. dominating the fashion industry. These factors suggest that there will be a sizable increase in North America.

Report Scope

Report Metric Details
Segmentations
By Manufacturing Process
  1. Synthetic
  2. Natural
By Application
  1. Vinyl Acetate Monomer
  2. Cellulose Acetate
  3. Acetate Esters
  4. Acetic Anhydride
  5. Chloroacetic Acid
  6. Terephthalic Acid
By End User
  1. Adhesives & Paints
  2. Pharmaceutical
  3. Food & Beverages
Company Profiles British Petroleum Plc Celanese Corporation Daicel Corporation DuPont de Nemours, Inc. Eastman Chemical Company LyondellBasell Industries N.V GNFC Limited HELM AG Mitsubishi Chemical Corporation PetroChina SABIC Showa Denko K.K. Sinopec SvenskEtanolkemi AB (SEKAB) Wacker Chemie AG
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The acetic acid market is segmented by manufacturing process, application, and end user.

Based on The Manufacturing Process

The global market is bifurcated into synthetic and natural.

The synthetic segment is the highest contributor to the market and is expected to grow at a CAGR of 6.24% during the forecast period. Many industrial fields use acetic acid, including those in the chemical, pharmaceutical, textile, polymer, paint, food, and beverage industries. Additionally, traditionally, acetic acid, also known as vinegar, has many uses in the food industry. It also functions as an acidulant, which gives food its distinctive flavor profile. It can be used in the food industry as a mild descaling agent and for the microbial decontamination of meat.

Based on Application

The global market is bifurcated into vinyl acetate monomer, cellulose acetate, acetate esters, acetic anhydride, chloroacetic acid, and terephthalic acid.

The vinyl acetate monomer segment is the highest contributor to the market and is expected to grow at a CAGR of 6.82% during the forecast period. Vinyl acetate monomer is a component of water-based paints, adhesives, waterproofing coatings, and paper and paperboard coatings (VAM). In addition, PTA-based polyesters and polyamides are used in hot melt adhesives. Even in the field of art, PTA is used as a carrier. In the automotive industry, adhesives and sealants are produced using acetic acid and its derivatives. The automotive adhesives and sealants market is closely related to the market for acetic acid. However, it is anticipated that demand for acetic acid will increase during the forecast period as safety standards increase globally.

Based on End Users

The global market is bifurcated into adhesives & paints, pharmaceuticals, and food & beverages.

The food & beverages segment is the highest contributor to the market and is expected to grow at a CAGR of 5.97% during the forecast period. Acetic acid is a sour ingredient that can be added to the sauce, vinegar, pickled vegetables, and as a raw material for spices. Acetic acid can be identified as a food additive by its group name, substance name, or abbreviated name, depending on the application. While acetic acid food preservation helps preserve canned goods, it also accomplishes much more. This vital component is found in many products, not only for its flavor but also for its antibacterial properties. Salad dressings, sauces, cheeses, and pickled foods frequently contain acetic acid.

Market Size By Manufacturing Process

Market Size By Manufacturing Process
  • Synthetic
  • Natural
  • Recent Developments

    • In April 2022 -INEOS purchased BP's global Aromatics & Acetyls business to broaden its geographic reach and improve its product line, which consists of 10 joint ventures and 15 different global production sites.

    Top Key Players

    Acetic Acid Market Share of Key Players

    Acetic Acid Market Share of Key Players
    British Petroleum Plc Celanese Corporation Daicel Corporation DuPont de Nemours, Inc. Eastman Chemical Company LyondellBasell Industries N.V GNFC Limited HELM AG Mitsubishi Chemical Corporation PetroChina SABIC Showa Denko K.K. Sinopec SvenskEtanolkemi AB (SEKAB) Wacker Chemie AG Others

    Frequently Asked Questions (FAQs)

    What is the estimated growth rate (CAGR) of the Acetic Acid Market?
    Acetic Acid Market size will grow at approx. CAGR of 4.5% during the forecast period.
    Some of the top prominent players in Acetic Acid Market are, British Petroleum Plc, Celanese Corporation, Daicel Corporation, DuPont de Nemours, Inc., Eastman Chemical Company, LyondellBasell Industries N.V, GNFC Limited, HELM AG, Mitsubishi Chemical Corporation, PetroChina, SABIC, Showa Denko K.K., Sinopec, SvenskEtanolkemi AB (SEKAB), Wacker Chemie AG, etc.
    Asia-Pacific has been dominating the Acetic Acid Market, accounting for the largest share of the market.
    The North America region is projected to exhibit the highest rate of growth in the Acetic Acid Market.
    The global Acetic Acid Market report is segmented as follows: By Manufacturing Process, By Application, By End User


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