Acetic Acid Market - Forecasts from 2018 to 2023
The global acetic acid market is predicted to witness a compound annual growth rate of 7.14% during the forecast period to reach a total market size of US$11.969 billion by 2023, increasing from US$7.914 billion in 2017. Acetic Acid is an organic compound and is an ecologically friendly product and a key component for producing various chemicals and end-products. Proven efficacy of this acid in various applications is driving its demand among the end-users across the globe. Huge amounts are being poured into research and development by major market players to push the application of this acid across various industry verticals which are fuelling its adoption among the end-users, thus augmenting the market growth. Adoption of innovative and path-breaking technologies has helped Acetic acid manufacturers to gain a competitive edge. However, volatile prices of methanol, a key component in the manufacturing of the acid, will continue to restrain the market growth to some extent.
The market in Asia-Pacific is projected to witness the fastest growth over the projected period on account of rapid growth of industries. North America and Europe hold a significantly large share in the global market owing to the presence of a large number of key players in these regions.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study, have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global acetic acid value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market
Acetic Acid market has been segmented by End-Use, Industry Vertical and Geography as below:
Inks and Dyes
By Industry Vertical
Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Eastman Chemical Company, PetroChina, Celanese Corporation and BASF among others.