Acetic Acid Market Present Scenario and Growth Prospects 2015 ?2022 by Jitendra Magar · September 25 Demarcus Walker Broncos Jersey , 2018
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 Garett Bolles Broncos Jersey ,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 consumption of these chemicals in the solvents and adhesives industry Courtland Sutton Broncos Jersey , 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 Bradley Chubb Broncos Jersey , 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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Hexa Research identifies Celanese, BP Jeff Heuerman Limited Jersey , DuPont, Eastman Chemicals, BASF Shane Ray Limited Jersey , Wacker Chemie and Jiangsu Sopo (Group) Co., Ltd., among others Adam Gotsis Limited Jersey , 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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19.04.2019 07:47
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