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Acetic Acid Market Share, Size, Key Players, Outlook and
Forecasts to 2022 | Hexa Research
“ global acetic acid market will be valued at more than $13 billion in 2022.”
03 May 2019, 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 industries. 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 3,7 50
kilo tons in 2020.
VAM is utilized in the manufacture of chemicals like EVA and EVAC. There is growing consumption 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.
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.
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