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The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.
The global acetic acid market size was USD 12.43 Billion in 2022 and is expected to register a rapid revenue CAGR of 7.4% during the forecast period. Rising adoption of acetic acid in manufacturing various specialty chemicals is a key factor driving market revenue growth.Acetic acids are highly procured to manufacture an array of specialty chemicals such as Polyvinyl Acetate (PVA), Vinyl Acetate Monomer (VAM), ethyl acetate, and various other derivatives. These derivatives are highly procured to manufacture an array of industrial chemicals such as adhesives, paints, polymers, and others.
The Global Acetic Acid Market report, published by emrgen research, is a holistic study of the current and upcoming trends of the Acetic Acid Market that are expected to influence its growth over the forecast period. The report offers an in-depth analysis of the leading geographical segments of the market. It exclusively offers details about the regulatory framework and development policies that have been implemented in the market over recent years. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors.
To get a global Acetic Acid Market Full report Description , click on the link here @ https://www.emergenresearch.com/industry-report/acetic-acid-market
Drivers of the Acetic Acid Market Growth:
Several factors are driving the growth of the acetic acid market. Firstly, the increasing demand for vinyl acetate monomer (VAM) and polyethylene terephthalate (PET) resins in the packaging, textiles, and automotive industries is fueling the demand for acetic acid as a key intermediate in their production. Additionally, the growing adoption of acetic acid in the manufacture of solvents, adhesives, coatings, and polymers is driving market growth. Moreover, the expanding applications of acetic acid in the food and beverage industry as a preservative, flavoring agent, and pH regulator are further contributing to market expansion.
Restraints Facing the Acetic Acid Market:
Despite the promising growth prospects, the acetic acid market faces several challenges. One of the primary restraints is the volatility of raw material prices, particularly for methanol, which is a key feedstock in the production of acetic acid via the methanol carbonylation process. Fluctuations in methanol prices can impact production costs and profit margins for acetic acid manufacturers, affecting market dynamics. Moreover, environmental regulations and sustainability concerns regarding the use of fossil-based feedstocks in acetic acid production are driving the demand for renewable and bio-based alternatives, posing challenges for traditional producers.
For the purpose of this report, Emergen Research has segmented the global acetic acid market on the basis of products, route, cargo type, and region:
· Derivative Outlook (Revenue, USD Billion; 2019-2032)
- Vinyl Acetate Monomer (VAM)
- Purified Terephthalic Acid
- Ethyl Acetate
- Acetic Anhydride
- Others
· Product Outlook (Revenue, USD Billion; 2019-2032)
- Synthetic
- Bio-Based
· Application Outlook (Revenue, USD Billion; 2019-2032)
- Plastics and Polymers
- Paints and Coatings
- F&B
- Pharmaceuticals
- Textile
- Others