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demand for VAM. Demand for acetic acid in VAM was more than 3,500 kilo tons in 2014.
This application segment is expected to grow at a CAGR of more than 3.9% from 2015 to
2022. VAM will be increasingly demanded by developing economies like China, India and
Brazil, consequently leading to growth of acetic acid market in future.
Hexa Research observed that China led the global acetic acid market in 2012 with a share
of more than 39% of volumes. A strong manufacturing base and possible expansion of the
same in future will contribute to China retaining its market leadership. Asia Pacific
followed China in terms of market share, with key demand emerging from India and Japan.
The acetic acid industry in Asia is likely to grow at a CAGR of more than 10% from 2015 to
2022.
Hexa Research identifies Celanese, BP, DuPont, Eastman Chemicals, BASF, Wacker Chemie
and Jiangsu Sopo (Group) Co., Ltd., among others, to be the key participants in the global
acetic acid market. The industry showcases a fragmented nature with several
manufacturers operating at varied levels of capacities.
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