AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
LONDON, GREATER LONDON, UNITED KINGDOM, October 17, 2024 /EINPresswire.com/ -- The acetic acid market has experienced robust growth in recent years, expanding from $15.33 billion in 2023 to $16.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to chemical industry growth, textile and fiber production, surface coating applications, widespread use in pharmaceuticals, paper and pulp processing, rise in water treatment needs.
What Is The Estimated Market Size Of The Global Acetic Acid Market And Its Annual Growth Rate?
The acetic acid market is projected to continue its strong growth, reaching $20.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to bio-based acetic acid production, rising demand for ethyl acetate, growth in packaging industry, focus on green chemistry, demand for acetic anhydride, increasing use in automotive coatings.
Explore Comprehensive Insights Into The Global Acetic Acid Market With A Detailed Sample Report:
https://www.thebusinessresearchcompany.com/report/acetic-acid-global-market-report
Growth Driver Of The Acetic Acid Market
Rising expansion in the textile sector is expected to boost the growth of the acetic acid market going forward. The textile industry involves research, design, development, manufacturing, and distribution of textiles, fabrics, and clothing. In the textile industry, acetic acid is used in producing rayon, the majority of latex, and artificial materials, as well as for fabric dyeing.
Make Your Report Purchase Here And Explore The Whole Industry's Data As Well:
https://www.thebusinessresearchcompany.com/report/acetic-acid-global-market-report
Who Are The Leading Competitors In The Acetic Acid Market Share?
Key players in the market include Eastman Chemical Company, LyondellBasell Industries NV, Daicel Corporation, Shanghai Huayi Group Corporation Limited, Celanese Corporation, BP plc, Saudi Basic Industries Corporation (SABIC), HELM AG, Airedale Chemical Company Limited, Indian Oil Corporation Limited, Wacker Chemie AG, DuPont de Nemours Inc., Mitsubishi Chemical Corporation, Showa Denko K.K., Kingboard Chemical Holdings Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Jubilant Life Sciences Limited, China Petroleum & Chemical Corporation (Sinopec), PetroChina Company Limited, Jiangsu Danhua Group Co. Ltd., Chang Chun Group, Chongqing Chuandong Chemical (Group) Co. Ltd., China National Chemical Corporation, Yankuang Cathay Coal Chemicals Co. Ltd., Sinochem Group, Sichuan Vinylon Works, Shandong Yankuang Group Co. Ltd., Sasol Limited, Saudi International Petrochemical Company, Solvay SA, Kuraray Co. Ltd., The Procter & Gamble Company
What Are The Dominant Trends In Acetic Acid Market Growth?
Major companies operating in the market are focused on investing in producing bio-based acetic acid to reduce the carbon footprint and gain a competitive edge in the market. Investment in bio-based acetic acid production refers to the allocation of resources, capital, and research and development activities towards the production of acetic acid from renewable resources such as agricultural waste, forestry residues, and cellulosic materials.
How Is The Global Acetic Acid Market Segmented?
1) By Sales Channel: Direct Company Sale, Direct Import, Distributors and Traders, Retailers
2) By Application: Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, Other Applications
3) By End-Use: Food and beverages, Paints and coating, Plastics and Polymers, Pharmaceutical, Chemicals, Other End-Uses
Geographical Insights: Asia-Pacific Leading The Acetic Acid Market
Asia-Pacific was the largest region in the market analysis in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Acetic Acid Market Definition
Acetic acid is an organic substance with a strong odor and sour flavor. It is a carboxylic acid comprised of a carboxyl functional group connected to a methyl group with the chemical formula CH3COOH and usually, it is a by-product of fermentation.
Acetic Acid Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global acetic acid market report covering trends, opportunities, strategies, and more
The Acetic Acid Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on acetic acid market size, acetic acid market drivers and trends, acetic acid market major players and acetic acid market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
Browse Through More Similar Reports By The Business Research Company:
Secondary Batteries Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/secondary-batteries-global-market-report
Antacids Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/antacids-global-market-report
Isothermal Nucleic Acid Amplification Technology (INAAT) Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/isothermal-nucleic-acid-amplification-technology-global-market-report
What Does the Business Research Company Do?
The Business Research Company publishes over 15,000 reports across 27 industries and 60+ geographies. Our research is powered by 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. We provide continuous and custom research services, offering a range of specialized packages tailored to your needs, including Market Entry Research Package, Competitor Tracking Package, Supplier & Distributor Package, and much more.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
X
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
