Sarasota, FL, Aug. 10, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Acetic Acid Market for VAM, Acetate Esters, Acetic Anhydride, PTA and Other Application: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021.” According to the report, the global acetic acid market accounted for USD 8.37 billion in 2015 and is expected to reach USD 13.65 by 2021, growing at a CAGR of around 8.5% between 2016 and 2021.
Acetic acid also known as ethanoic acid is a colorless liquid. Acetic acid has a distinctive sour taste and strong pungent smell. Commonly, we knew that acetic acid is used in vinegar, which is a diluted acetic acid. Vinegar is one of the oldest applications for pickling of vegetables and other foods. Acetic acid is an important chemical reagent and industrial chemicals.
Browse 29 Market Tables and 31 Figures spread through 110 Pages and an in-depth TOC on "Acetic Acid Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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The market growth of global acetic acid market has been accelerated by rising demand for vinegar owing to numerous health benefits associated with it. Increasing consumption of PTA in textile industry for polyester manufacturing coupled with increasing demand of VAM which is used as a precursor is expected to propel the growth of acetic acid market in coming years. Furthermore, growing textile & packaging industry is expected to fuel the growth of acetic acid market. In addition, being a chemical reagent and industrial chemical, it is used in production of cellulose acetate for photographic film, while polyvinyl acetate for synthetic fibers and fabrics. However, volatile prices of methanol and mature market of acetic anhydride may restrict the growth of market. Nonetheless, increasing demand for industrial application is likely to open growth opportunities for the market in the near future.
Vinyl acetate monomer (VAM) segment dominated the acetic acid market with over 30% share of total volume consumption in 2015.Extensive use of VAM in adhesive and sealant industry are the major factors are expected to fuel the growth in forecast period. Acetate Esters is expected to be the strongest growth segment of the market due to growing demand from coating industry. Increasing demand of PET bottles on account of their light weight and recyclability is expected to propel growth of PTA segment.
Browse the full "Acetic Acid Market for VAM, Acetate Esters, Acetic Anhydride, PTA and Other Application: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/acetic-acid-market
Asia-Pacific region is the most promising market and is expected to grow at a rapid pace in the near future. China was the biggest consumer in 2015, which acquires 40% share of total production. The demand for acetic acid in China market is anticipated to grow at a CAGR of 5.5% in term of volume.
The European and North American markets are comparatively mature. However, production of cellulose acetate for photographic film and polyvinyl acetate for wood glue, as well as synthetic fibers and markets, and as a food additive code are expected to fuel the growth of acetic acid market in forecast period. The North America is projected to grow with CAGR of 3.6% as on demand base.
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Some of the key players include in acetic acid market such as Eastman Chemical Company, Jiangsu Sopo Co. Ltd, Kingboard Chemical Holdings Ltd, LyondellBasell Industries N.V., BP Plc, SABIC, Sasol, Petro China, Daicel Corporation, Celanese Corporation and among others.
This report segments the global acetic acid market as follows:
Global Acetic Acid Market: Application Segment Analysis
- Acetate Esters
- Acetic anhydride
Global Acetic Acid Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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