Acetic Acid Market Share, Size, Analysis, Growth, Trends and Forecasts, 2015 to 2022 | Hexa Research
Your Catalyst To a Lucrative Business
Acetic Acid Market Share, Size, Analysis, Growth, Trends and Forecasts, 2015 to 2022 | Hexa Research
" Global acetic acid market is expected to witness significant growth over the next six years owing to increasing use in industrial and household applications. "
According to a recent study conducted by Hexa Research, global acetic acid market will be valued at more than $ 13 billion in 2022. Growing demand for applications like Purified Terephthalic Acid( PTA) and Vinyl Acetate Monomer( VAM) will contribute to this growth. PTA is increasingly being consumed for manufacturing polyester, which is an important constituent of the textile and packaging industri es. PTA is expected to witness the fastest growth with a CAGR of more than 4.9 % from 2015 to 2022. The total global acetic acid demand for PTA was more than 2,450 kilo tons in 2014, which is likely to rise to more than 3,750 kilo tons in 2020.
VAM is utilized in the manufacture of chemicals like EVA and EVAC. There is growing cons umption of these chemicals in the solvents and adhesives industry, leading to rising 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.
Browse Details of Report @ https:// www. hexaresearch. com / research-report / acetic-acid-industry /
Follow Us: