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Acetic acid, also known as ethanoic acid, is a clear colourless liquid which has a pungent, vinegar-like odour. In addition to household vinegar, it is mainly produced as a precursor to polyvinyl acetate and cellulose acetate. Acetic acid is the second simplest carboxylic acid and is an important chemical reagent and industrial chemical, used primarily in the production of cellulose acetate for photographic film, polyvinyl acetate for wood glue, and synthetic fibers and fabrics. In households, diluted acetic acid is often used in descaling agents. In the food industry, acetic acid is controlled by the food additive code E260 as an acidity regulator and as a condiment. As a food additive it is approved for usage in many countries, including Canada, the European Union, the United States, Australia and New Zealand among others.
Acetic Acid Market Outlook
The major trend being witnessed in the global acetic acid market is the rising capital expenditure for enhancing the production of the acid. Globally, the textile industry continues to witness rapid growth, owing to the rising income levels in the developing countries, increased standard of living, and changing fashion trends and customer preferences. The rising investments by various producers is also aimed at technological upgradation, development of new facilities, strengthening the supply chain of the product. With the rising investments in the aforementioned areas, the demand-supply scenario for the acid is likely to strengthen in the coming years. Major restraint identified in the acetic acid market is the fluctuating costs of raw materials used in the production of the acid.
Asia Pacific emerged as a promising region for the acetic acid market in 2019, owing to the increasing population, investments in the construction industry, and growing urbanization. The major growth is seen in emerging countries such as India and China.
Acetic Acid Market Segmental Highlights
The report analyses the global acetic acid market based on application, end user and geography. The applications of acetic acid are vinyl acetate monomer (VAM), Purified Terephthalic acid (PTA), acetate esters, acetic anhydride and others. Whereas, the end users of this industry are plastics and polymers, food and beverage, inks, paints, and coatings, chemicals and other end-user industries.
Based on geography, the global acetic acid market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa. APAC accounted for the largest market share of the global acetic acid industry in 2019.
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