The acetic acid market was valued at $19.2 billion in 2023 and is projected to reach $32.6 billion by 2033, growing at a CAGR of 5.4% from 2024 to 2033.
Acetic acid is an organic compound which exists in a colorless liquid form and is identified due to its sour taste and pungent smell. Along with water, acetic acid is a major component of vinegar. Chemically, the compound is a weak carboxylic acid. The acid is either produced synthetically or through bacterial fermentation. Acetic acid finds applications in diverse industrial applications, such as in paints, coatings, adhesives, pharmaceuticals, and food & beverage.
The chemical industry is a significant driver of the acetic acid industry as the compound is pivotal for the manufacturing of polymers, specialty chemicals, and solvents such as purified terephthalic acid (PTA), vinyl acetate monomer (VAM), acetate esters, and acetic anhydride. In addition, the expansion of the healthcare industry is boosting the demand for acetic acid. In healthcare, the compound is utilized for the development of several medications and drugs. The development of bio-based acetic acid is an emerging trend in the market, driven by sustainability concerns and regulatory pressures. Such bio-based acetic acid is manufactured from renewable feedstocks such as ethanol, biomass, or methane.
However, volatility in the prices of feedstock such as methanol or acetaldehyde influences the production costs and overall prices of acetic acid. This hampers the profitability of the manufacturers and limits market growth. Moreover, the regulatory landscape surrounding the production of acetic acid is highly stringent, hence restraining the market. For instance, the Clean Air Act in the U.S. puts rigorous control over acetic acid emissions and demands strict compliance with the National Ambient Air Quality Standards. On the contrary, constant explorations regarding the functionalities of acetic acid indicate a promising future for the market. For instance, in 2021, a group of Indian researchers reported the use of acetic acid as an antimicrobial edible food coating agent. This coating is beneficial in maintaining the freshness of fruits and vegetables, hence extending their shelf life.
Segment Review
The acetic acid market is segmented into application, end-use industry, and region. On the basis of application, the market is divided into acetic anhydride, cellulose acetate, vinyl acetate monomer, chloracetic acid, and others. As per end-use industry, it is classified into chemical manufacturing, food & beverage, pharmaceutical, textile, agriculture, personal care & cosmetics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of application, the vinyl acetate monomer segment is expected to dominate during the forecast period.
As per end-use industry, the chemical manufacturing segment is projected to account for the highest market share throughout the forecast period.
Region wise, Asia-Pacific is anticipated to be the highest revenue generator by 2033.
Competition Analysis
The major players operating in the global acetic acid market include Eastman Chemical Company, Celanese Corporation, HELM AG, SABIC, East India Chemicals, LyondellBasell Industries Holdings B.V., Kakdiya Chemicals, Prakash Chemicals International Private Limited (PCIPL), Innova Corporate, and Anant Pharmaceuticals Pvt. Ltd. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
Acetic acid is an organic compound which exists in a colorless liquid form and is identified due to its sour taste and pungent smell. Along with water, acetic acid is a major component of vinegar. Chemically, the compound is a weak carboxylic acid. The acid is either produced synthetically or through bacterial fermentation. Acetic acid finds applications in diverse industrial applications, such as in paints, coatings, adhesives, pharmaceuticals, and food & beverage.
The chemical industry is a significant driver of the acetic acid industry as the compound is pivotal for the manufacturing of polymers, specialty chemicals, and solvents such as purified terephthalic acid (PTA), vinyl acetate monomer (VAM), acetate esters, and acetic anhydride. In addition, the expansion of the healthcare industry is boosting the demand for acetic acid. In healthcare, the compound is utilized for the development of several medications and drugs. The development of bio-based acetic acid is an emerging trend in the market, driven by sustainability concerns and regulatory pressures. Such bio-based acetic acid is manufactured from renewable feedstocks such as ethanol, biomass, or methane.
However, volatility in the prices of feedstock such as methanol or acetaldehyde influences the production costs and overall prices of acetic acid. This hampers the profitability of the manufacturers and limits market growth. Moreover, the regulatory landscape surrounding the production of acetic acid is highly stringent, hence restraining the market. For instance, the Clean Air Act in the U.S. puts rigorous control over acetic acid emissions and demands strict compliance with the National Ambient Air Quality Standards. On the contrary, constant explorations regarding the functionalities of acetic acid indicate a promising future for the market. For instance, in 2021, a group of Indian researchers reported the use of acetic acid as an antimicrobial edible food coating agent. This coating is beneficial in maintaining the freshness of fruits and vegetables, hence extending their shelf life.
Segment Review
The acetic acid market is segmented into application, end-use industry, and region. On the basis of application, the market is divided into acetic anhydride, cellulose acetate, vinyl acetate monomer, chloracetic acid, and others. As per end-use industry, it is classified into chemical manufacturing, food & beverage, pharmaceutical, textile, agriculture, personal care & cosmetics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings
On the basis of application, the vinyl acetate monomer segment is expected to dominate during the forecast period.
As per end-use industry, the chemical manufacturing segment is projected to account for the highest market share throughout the forecast period.
Region wise, Asia-Pacific is anticipated to be the highest revenue generator by 2033.
Competition Analysis
The major players operating in the global acetic acid market include Eastman Chemical Company, Celanese Corporation, HELM AG, SABIC, East India Chemicals, LyondellBasell Industries Holdings B.V., Kakdiya Chemicals, Prakash Chemicals International Private Limited (PCIPL), Innova Corporate, and Anant Pharmaceuticals Pvt. Ltd. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
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Key Market Segments
By Application
- Acetic anhydride
- Cellulose acetate
- Vinyl acetate monomer
- Chloroacetic acid
- Others
By End-Use Industry
- Chemical Manufacturing
- Food and Beverage
- Pharmaceutical
- Textile
- Agriculture
- Personal Care and Cosmetics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Aia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Eastman Chemical Company
- Celanese Corporation
- HELM AG
- SABIC
- East India Chemicals
- LyondellBasell Industries Holdings B.V.
- Kakdiya Chemicals
- Prakash Chemicals International Private Limited (PCIPL)
- Innova Corporate
- Anant Pharmaceuticals Pvt. Ltd.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: ACETIC ACID MARKET, BY APPLICATION
CHAPTER 5: ACETIC ACID MARKET, BY END-USE INDUSTRY
CHAPTER 6: ACETIC ACID MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
Key Market Players in the Acetic Acid Market include:- Eastman Chemical Company
- Celanese Corporation
- HELM AG
- SABIC
- East India Chemicals
- LyondellBasell Industries Holdings B.V.
- Kakdiya Chemicals
- Prakash Chemicals International Private Limited (PCIPL)
- Innova Corporate
- Anant Pharmaceuticals Pvt. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 350 |
| Published | July 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 19.2 billion |
| Forecasted Market Value ( USD | $ 32.6 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
