According to IMARC Group’s latest report, titled “Asia Pacific Acetic Acid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The Asia Pacific acetic acid market size reached 10.8 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 12.1 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.7% during 2023-2028.
Acetic acid, or ethanoic acid, is a clear and colorless organic compound with the chemical formula CH3COOH. It is derived from the bacterial fermentation or oxidation of natural carbohydrates. Acetic acid is an important chemical reagent and industrial chemical that is utilized in the production of polyvinyl acetate for wood glue, cellulose acetate for photographic film, synthetic fibers, etc. Diluted acetic acid is also used in descaling agents and as a condiment and an acidity regulator. It also produces metal acetate, volatile organic acetate, vinyl acetate monomer (VAM), etc., and is extensively utilized across various industries for textile manufacturing, printing, making photographic films, etc.
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Asia Pacific Acetic Acid Market Trends:
The rising number of construction activities is one of the key factors driving the Asia Pacific acetic acid market. Moreover, the increasing product demand in the production of coatings, greases, polyesters, etc., is further catalyzing the market growth. Besides this, the widespread requirement of acetic acid in the manufacturing of vinegar is acting as another significant growth-inducing factor. Additionally, the elevating demand for purified terephthalic acid (PTA) in the packaging and textile industries is augmenting the regional market. Apart from this, the growing usage of ester solvents in the paints and coatings industry is also positively influencing the market growth. Furthermore, the development of new and novel separation and purification technologies is anticipated to fuel the Asia Pacific acetic acid market in the coming years.
Key Market Segmentation:
The report has categorized the market based on application and end use industry.
Breakup by Application:
- VAM
- PTA
- Anhydride
- Ethyl Acetate
- Butyl Acetate
- Others
Breakup by End Use Industry:
- Plastics & Polymers
- Food & Beverage
- Inks, Paints & Coatings
- Chemicals
- Pharmaceuticals
- Others
Breakup by Country:
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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