Glacial Acetic Acid Market Drivers and Key Players Strategies Analyzed Till 2029

Posted on 2019-07-18 by Mark Hub in Chemicals // 0 Comments

The key growth driving factor for the global Glacial Acetic Acid Market is its use in pharmaceuticals and food & beverage industry. The global pharmaceutical industry is on the rise owing to consumer lifestyles, increasing spending power and disposable income of consumers. This drives the demand for a number of pharmaceutical ingredients, of which glacial acetic acid is a part. Furthermore, the application of glacial acetic acid as a flavoring agent in the food & beverage industry is the key for demand growth of glacial acetic acid.

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Acetic acid, also known as ethanoic acid, is a colorless liquid with a chemical formula CH3COOH. A glacial acetic acid is an anhydrous form of acetic acid and the purest form with less than 1% of water. Glacial acetic acid solidifies into acetic acid crystals at around 16.7oC. The most widely used manufacturing process for acetic acid is a methanol carbonylation process which accounts for more than 80% of the global acetic acid production. Glacial acetic acid finds a wide range of applications such as preservative in food & beverages, pharmaceuticals, paints, coatings, inks and vinegar. It is also used in the production of terephthalic acid, synthetic camphor, aniline, propylene terephthalate, etc. The global glacial acetic acid consumption is approximately around seven metric tons, out of which about 20%-25% is recycled every year.

Also, the growth of the glacial acetic acid market is projected by its application as an organic solvent widely used in paints & coating and pharmaceutical field. Moreover, the majority of glacial acetic acid is consumed in the production of vinyl acetate monomer. The vinyl acetate monomer has a wide range of application in paints & coating, adhesives and textile processing. Thus, with the growing demand for vinyl acetate monomer worldwide, the demand for the glacial acetic acid market has increased globally.

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Among the regions mentioned above, Asia is estimated to account for more than 35% of global glacial acetic acid consumption with key producers having their glacial acetic acid manufacturing facilities in the regions. Presence of emerging economies in the East Asia region such as China and India, the growth of the glacial acetic acid market in this region will be strong. Glacial acetic acid consumption in China will grow strongly in the forecast period, majorly due to strong demand for terephthalic acid in the region. In North America, the demand is strongly driven by vinyl acetate monomer, followed by acetic anhydride and terephthalic acid. Hence, due to the steady consumption of vinyl acetate monomer in the U.S., the glacial acetic market in North America will witness moderate growth in the coming future. The Europe region will follow a similar trend. Other regions, such as the Middle East & Africa and Latin America will witness a steady growth in the forecast period.

Key market stakeholders in the global glacial acetic acid market are Celanese Corporation, LyondellBasell Industries Holdings B.V., Eastman Chemical Company, Dow, Lotte BP Chemcals Co. Ltd., BASF SE, Jiangsu Sopo (Group) Co., Ltd., Shanghai Wujing and Eurochem, amongst others. The glacial acetic acid market consists of well-diversified global and regional players with global vendors ruling the market.

The research report presents a comprehensive assessment of the Glacial acetic acid market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Glacial acetic acid market report provides analysis and information, according to market segments such as geographies, application and industry.

The Glacial acetic acid report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Glacial acetic acid report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Glacial acetic acid report also maps the qualitative impact of various market factors on market segments and geographies.

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