The Asia-Pacific acetic acid market had been valued at $4.0billion in the year 2013, and is expected to grow at 6.4% annually. It is projected to reach $5.4billion by the end of the year 2018.
Acetic acid is an important chemical with applications in several downstream industries like textiles, food processing, and several other industrial chemical processes. Acetic acid prices are mainly driven by the prices of feedstock and methanol in addition to the downstream demand for its derivatives, including vinyl acetate monomer (VAM), purified terephthalic acid (PTA), acetic anhydride, and ethyl acetate. VAM is the largest single end-use for acetic acid and is mainly used in paints, adhesives, and coatings. PTA is mainly used in the manufacture of polyester and fibers. An increasing trend of acetate esters being used, mainly as solvents for inks, paints, and coatings, has also been observed in the last few years.
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Increasing demand from application segments such as vinyl acetate monomer and purified terephthalic acid is expected to drive demand for acetic acid, over the forecast period. PTA is the primary raw material for the manufacturing of PET, which is a polymer extensively used in packaging industry. The on-going capacity expansions and establishment of newer facilities in China are likely to further negatively impact the region’s acetic acid exports in the near future. In terms of end-use segments, VAM represents the largest end-use market for acetic acid. On the other hand, PTA is the fastest-growing end-use application, registering a CAGR of more than 4.0% over the analysis period. Other leading end-use segments include acetic anhydride and ethyl acetate.
The market is expected to grow robustly in the near future, leveraging on strong growth emanating from Asia-Pacific, particularly from China. Rapid growth of the acetic acid market in China has encouraged investors to pour millions of dollars in establishing acetic acid units. Influx of advanced technology and investments from multinational companies are expected to provide the required impetus for fast paced growth. Taking cue from the burgeoning demand from the developing countries, acetic acid manufacturers worldwide are investing in capacity expansions and new plant installations.
The Asia-Pacific acetic acid market had been valued at $4.0billion in the year 2013, and is expected to grow at 6.4% annually. It is projected to reach $5.4billion by the end of the year 2018. Asia-Pacific acetic acid constitutes 55.9% of the global Acetic acid market, and is poised to grow its market share to 57.4% by the end of year 2018. The Asia-Pacific acetic acid market is segmented on basis of applications and geographies. In Asia-Pacific, acetic acid is applied in vinyl acetate, terephthalic acid, ester solvents, and acetic anhydride.
Europe Acetic acid Market:
The Europe acetic acid market had been valued at $1.1billion in the year 2013, and is expected to grow at 3.5% annually. It is projected to reach $1.3billion by the end of the year 2018. Europe acetic acid constitutes 15.9% of the global acetic acid market, and is poised to grow its market share to 14.3% by the end of year 2018. The Europe acetic acid market is segmented on basis of applications and geographies. The Europe acetic acid market is segmented in applications like vinyl acetate, ester solvents, terephthalic acid, and acetic anhydride.
On the technological front, emerging technologies for producing chemicals and derivatives are painting greener avenues for growth within the industry. Adoption of innovative and path breaking technologies are providing competitive edge to the companies to enhance their profit margins and increase their capacity. Accordingly, manufacturers of acetic acid are increasingly adopting these technologies over age-old technologies such as low-water technology.
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