Acetic Acid Market Projected To Achieve Significant Revenue Growth By 2032 | Celanese Corporation, INEOS, Chang Chun Group

(MENAFN- GlobeNewsWire - Nasdaq) “INEOS Acetyls and GNFC, longtime partners, will form a JV to bring their Acetic Acid project to market by 2028. GNFC remains India's sole Acetic Acid producer.”

United States, New York, Feb. 07, 2025 (GLOBE NEWSWIRE) -- Introspective Market Research is pleased to announce the publication of its latest report, Acetic Acid Market. This in-depth analysis shows that the Global Acetic Acid Market , valued at USD 8.13 Billion in 2023, is set for substantial growth and is projected to reach USD 13.28 Billion by 2032 . This anticipated expansion reflects a strong CAGR of 5.6% from 2024 to 2032.

The Global Acetic Acid Market is set for considerable expansion from 2024 to 2032, Fueled by requirement for vinyl acetate monomer (VAM), which is utilized in the manufacture of paints, coatings, and adhesives. This greatly affects industries such as construction, automotive, and packaging. Moreover, acetic acid is essential in the pharmaceutical sector, as it is involved in the preparation of drugs, especially tablets and intravenous solutions, reinforcing the increasing dependence on pharmaceuticals. The personal care industry also drives demand, utilizing bio-acetic acid as a preservative and pH stabilizer in items such as shampoos and conditioners. Finally, technological innovations, such as low-emission manufacturing methods and effective catalysts, have rendered acetic acid production more economical, thereby bolstering market expansion.

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Key Industry Insights –

High Demand for Vinyl Acetate Monomer (VAM):

The market for acetic acid is propelled by the strong demand for Vinyl Acetate Monomer (VAM), a significant derivative commonly utilized in paints, coatings, and adhesives. Its function in creating PET plastics increases demand in the packaging industry. Moreover, acetic acid acts as a preservative and acidity controller in the food and drink sector. Expansion in the textile and chemical sectors also drives demand, since acetic acid is crucial for synthetic fibers and coloring agents. The market is further affected by the growing transition to sustainable chemical manufacturing, as bio-based acetic acid is becoming popular as an environmentally friendly option.

Growing Opportunities in Plastics, Rubber, Ink, and Textile Industries

The acetic acid market offers considerable growth potential in multiple sectors including plastics, rubber, ink, and textiles, owing to its adaptability as a fundamental component in chemical production. In plastics, it plays a role in creating polyvinyl acetate (PVA) and acetate fibers, whereas in rubber, acetic acid is essential for making rubber adhesives and sealants. With the growing demand for eco-friendly and sustainable products, acetic acid's contribution to green chemistry solutions enhances its market potential even more.

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Raw Material Price Fluctuations on Production Costs

The fluctuation in the cost of raw materials, such as methanol and crude oil, presents a significant challenge for industries reliant on these inputs. As these materials are essential for the production of various chemicals and plastics, price volatility can directly impact production costs. An increase in raw material prices often leads to higher manufacturing expenses, squeezing profit margins for companies. This volatility may also result in the need for price adjustments, which can affect competitiveness and customer relations.

Key Players to Watch:

• Celanese Corporation (USA)
• Chang Chun Group (Taiwan)
• Daicel Corporation (Japan)
• Eastman Chemical Company (USA)
• GNFC Limited (India)
• INEOS (United Kingdom)
• Jiangsu SOPO (Group) Co. Ltd. (China)
• Kingboard Holdings Limited (Hong Kong)
• LyondellBasell Industries Holdings BV (USA)
• Mitsubishi Chemical Corporation (Japan)
• PetroChina Company Limited (China)
• Sabic (Saudi Arabia)
• Shandong Hualu-Hengsheng Chemical Co. Ltd. (China)
• Shanghai Huayi Holding Group Co. Ltd. (China)
• Sipchem Company (Saudi Arabia)
• Svensk Etanolkemi AB (SEKAB) (Sweden)
• Tanfac Industries Ltd. (India)
• Yankuang Group (China) and Other Active Players

Recent Development

In November 2024, Gujarat Narmada Valley Fertilizer and Chemicals (GNFC) entered into a Memorandum of Understanding (MoU) with INEOS Acetyls International, United Kingdom (INEOS), to create a Joint Venture Company (JVCo.) in India. GNFC acquired a 50% ownership in the JVCo., whereas INEOS possessed the remaining 50%.

In March 2023, KBR has revealed its purchase of Acetica, an advanced acetic acid production technology, enhancing its standing in the petrochemicals industry. This acquisition boosts KBR's value chain by providing an effective and profitable route for CO2 utilization, in line with the company's sustainability goals. Acetica offers a groundbreaking approach to producing acetic acid, an essential chemical utilized in multiple industries such as textiles, plastics, and pharmaceuticals.

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Key Segments of Market Report –

By Type

• Vinyl Acetate Monomer (VAM)
• Purified Terephthalic Acid (PTA)
• Ethyl Acetate
• Acetic Anhydride
• Other Derivatives
  

By Application

• Plastics and Polymers
• Food and Beverage
• Adhesives, Paints, and Coatings
• Textile
• Medical
• Other Applications

By Region:

The Asia-Pacific region is expected to lead in global acetic acid capacity expansions, mainly due to China. The largest growth is attributed to the Guangdong Shengyuanda Technology Jieyang Acetic Acid Facility. The Asia-Pacific area currently leads the worldwide acetic acid market because of significant demand from sectors like textiles, plastics, and pharmaceuticals. The area gains advantages from robust manufacturing strengths, accelerating urbanization, and a growing demand for derivatives such as vinyl acetate monomer (VAM) and purified terephthalic acid (PTA). Supportive government policies and technological progress additionally contribute to market growth, positioning Asia-Pacific as the world leader in acetic acid production and development.

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Comprehensive Offerings:

Strategic Points Covered in Table of Content of Acetic Acid Market:

Executive Summary: Into the market research report, the executive summary highlights the most critical market findings, including key trends and actionable insights, offering clients a snapshot of the report's core takeaways.

Market Landscape: This section is crafted to include a detailed analysis of Acetic Acid Market Dynamics, Growth Trends, And Regulatory Frameworks. Tools like PESTEL Analysis, Value Chain Analysis, and Investment Pockets are employed to present a thorough market outlook and future growth projections.

Acetic Acid Market Competitive Analysis: The competitive analysis examines the Key Players, Their Positioning, Strengths, And Opportunities. By mapping competition, we provide actionable intelligence for clients to strategize effectively.

Acetic Acid Market Segmentation Analysis: In segmentation, we break down the market into Key and Sub-Segments, focusing on their growth potential, demand patterns, and overall market contribution.

Regional Analysis : Through in-depth global, regional, and country-level insights, we analyse key growth drivers and challenges specific to each geography.

Acetic Acid Market Analyst Viewpoint and Conclusion: The concluding section consolidates the findings, offering strategic recommendations and emphasizing practical, client-centric strategies to navigate market complexities.

Thematic Research Methodology: Leveraging primary and secondary research, we ensure data authenticity and reliability. Our reports follow the MORE Principle:

• Magnifying Insights : Delivering accurate and detailed research findings.
• Optimizing Strategies: Customizing strategies for client needs.
• Refining Solutions: Continuously enhancing research processes.
• Elevating Client Impact: Creating measurable value for client success.
  

About Us:

Introspective Market Research (IMR) is an international market research and consulting company that focuses on leveraging big data and sophisticated analytics to deliver in-depth market insights. Our team of specialists assists clients in understanding upcoming market trends by examining historical and current data, providing precise predictions, and suggesting practical strategies. We concentrate on demand evaluation, competitive comparison, and macro-economic analysis to provide comprehensive industry insights. IMR's client-focused strategy guarantees individualized services, offering custom research and subscription reports specifically designed to meet each client's requirements. With robust work principles, a devoted support team, and a focus on providing valuable, data-informed solutions, we assist our clients in confidently reaching their business objectives.

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