The Global Acetic Acid Market is valued approximately at USD 7.85 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 5.2% over the forecast period 2024-2032. Acetic acid, an organic compound with a distinct sour taste and pungent smell, is primarily composed of vinegar and water. Its extensive usage in the chemical industry as a precursor for producing compounds such as vinyl acetate monomer, purified terephthalic acid, and acetic anhydride underscores its significance. The burgeoning demand in the food & beverage sector, alongside its expanding application within the pharmaceutical industry, continues to drive the acetic acid market. However, challenges such as raw material price volatility, environmental concerns related to production and disposal, and stringent regulatory frameworks might impede its growth across various end-use applications. Despite these hurdles, advancements in technology paving the way for more sustainable production processes, the exploration of bio-based acetic acid, and its use in manufacturing greener solvents for the paint and coatings industry present promising growth opportunities.
The global acetic acid market is marked by significant adoption of glacial acetic acid, driven by its extensive use in industrial applications. Glacial acetic acid, the anhydrous form containing no water, is highly valued for its purity and efficacy in producing esters for fragrances and flavors and as a solvent in numerous chemical reactions. This pure form, often in concentrations of 99.5% to 99.9%, is critical in applications requiring minimal impurities, such as high-quality solvents and pharmaceutical processes. The preference for concentrated acetic acid solutions in industrial applications further underlines the market's growth trajectory.
Regionally, the acetic acid market's dynamics vary, with the Americas showing stable demand supported by the packaging, textiles, and food industries. In Europe, stringent environmental regulations foster innovation and sustainable production methods. The Asia-Pacific region, particularly China, India, and Japan, exhibits robust demand driven by industrialization and manufacturing expansion, making it a key player in the global market landscape. The Middle East and Africa also present growth opportunities, fueled by industrialization and investments in the chemical sector to diversify economies.
Key market players driving the acetic acid market include
Altiras Chemicals LLC
Anant Pharmaceuticals Pvt. Ltd.
Ashok Alco Chem Limited
Azelis Group NV
BP PLC
Celanese Corporation
Central Drug House (P) Ltd.
China Petroleum & Chemical Corporation
Daicel Corporation
Eastman Chemical Company
Godavari Biorifineries Limited
HELM AG
Indian Oil Corporation Ltd.
INEOS AG
Mitsubishi Chemical Corporation.
The detailed segments and sub-segment of the market are explained below:
By Concentration
- Concentrated
- Dilute
- Glacial 99.5%
- Glacial 99.6%
- Glacial 99.8%
- Glacial 99.9%
By Form
By Grade
- Food Grade
- Industrial Grade
- Pharmaceutical Grade
- Reagent Grade
By Application
- Acetate Esters
- Acetic Anhydride
- Butyl Acetate
- Ethanol
- Purified Terephthalic Acid
- Vinyl Acetate Monomer
By End User
- Agriculture
- Chemicals
- Food & Beverages
- Paints & Coating
- Pharmaceutical
- Plastics & Polymers
By Region:
- North America
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- RoMEA
Years considered for the study are as follows:
- Historical year - 2022
- Base year - 2023
- Forecast period - 2024 to 2032
Key Takeaways:
- Market Estimates & Forecast for 10 years from 2022 to 2032.
- Annualized revenues and regional level analysis for each market segment.
- Detailed analysis of geographical landscape with Country level analysis of major regions.
- Competitive landscape with information on major players in the market.
- Analysis of key business strategies and recommendations on future market approach.
- Analysis of competitive structure of the market.
- Demand side and supply side analysis of the market.
Table of Contents
Chapter 1. Global Acetic Acid Market Executive Summary
- 1.1. Global Acetic Acid Market Size & Forecast (2022-2032)
- 1.2. Regional Summary
- 1.3. Segmental Summary
- 1.3.1. By Concentration
- 1.3.2. By Form
- 1.3.3. By Grade
- 1.3.4. By Application
- 1.3.5. By End User
- 1.4. Key Trends
- 1.5. Recession Impact
- 1.6. Analyst Recommendation & Conclusion
Chapter 2. Global Acetic Acid Market Definition and Research Assumptions
- 2.1. Research Objective
- 2.2. Market Definition
- 2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
- 2.3.3.1. Availability
- 2.3.3.2. Infrastructure
- 2.3.3.3. Regulatory Environment
- 2.3.3.4. Market Competition
- 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
- 2.3.4.1. Regulatory frameworks
- 2.3.4.2. Technological Advancements
- 2.3.4.3. Environmental Considerations
- 2.3.4.4. Consumer Awareness & Acceptance
- 2.4. Estimation Methodology
- 2.5. Years Considered for the Study
- 2.6. Currency Conversion Rates
Chapter 3. Global Acetic Acid Market Dynamics
- 3.1. Market Drivers
- 3.1.1. Rising Demand in Food & Beverage Industry
- 3.1.2. Expanding Application in Pharmaceutical Industry
- 3.1.3. Technological Advancements in Sustainable Production
- 3.2. Market Challenges
- 3.2.1. Volatility in Raw Material Prices
- 3.2.2. Environmental Concerns
- 3.2.3. Stringent Regulatory Frameworks
- 3.3. Market Opportunities
- 3.3.1. Exploration of Bio-Based Acetic Acid
- 3.3.2. Application in Greener Solvents
- 3.3.3. Increasing Industrial Applications
Chapter 4. Global Acetic Acid Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
- 4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
- 4.3. Top investment opportunity
- 4.4. Top winning strategies
- 4.5. Disruptive Trends
- 4.6. Industry Expert Perspective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Acetic Acid Market Size & Forecasts by Concentration 2022-2032
- 5.1. Segment Dashboard
- 5.2. Global Acetic Acid Market: Concentration Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Concentrated
- 5.2.2. Dilute
- 5.2.3. Glacial 99.5%
- 5.2.4. Glacial 99.6%
- 5.2.5. Glacial 99.8%
- 5.2.6. Glacial 99.9%
Chapter 6. Global Acetic Acid Market Size & Forecasts by Form 2022-2032
- 6.1. Segment Dashboard
- 6.2. Global Acetic Acid Market: Form Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Crystallized
- 6.2.2. Liquid
Chapter 7. Global Acetic Acid Market Size & Forecasts by Grade 2022-2032
- 7.1. Segment Dashboard
- 7.2. Global Acetic Acid Market: Grade Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Food Grade
- 7.2.2. Industrial Grade
- 7.2.3. Pharmaceutical Grade
- 7.2.4. Reagent Grade
Chapter 8. Global Acetic Acid Market Size & Forecasts by Application 2022-2032
- 8.1. Segment Dashboard
- 8.2. Global Acetic Acid Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Acetate Esters
- 8.2.2. Acetic Anhydride
- 8.2.3. Butyl Acetate
- 8.2.4. Ethanol
- 8.2.5. Purified Terephthalic Acid
- 8.2.6. Vinyl Acetate Monomer
Chapter 9. Global Acetic Acid Market Size & Forecasts by End User 2022-2032
- 9.1. Segment Dashboard
- 9.2. Global Acetic Acid Market: End User Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 9.2.1. Agriculture
- 9.2.2. Chemicals
- 9.2.3. Food & Beverages
- 9.2.4. Paints & Coating
- 9.2.5. Pharmaceutical
- 9.2.6. Plastics & Polymers
Chapter 10. Global Acetic Acid Market Size & Forecasts by Region 2022-2032
- 10.1. North America Acetic Acid Market
- 10.1.1. U.S. Acetic Acid Market
- 10.1.1.1. Concentration breakdown size & forecasts, 2022-2032
- 10.1.1.2. Form breakdown size & forecasts, 2022-2032
- 10.1.1.3. Grade breakdown size & forecasts, 2022-2032
- 10.1.1.4. Application breakdown size & forecasts, 2022-2032
- 10.1.1.5. End User breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Acetic Acid Market
- 10.1.2.1. Concentration breakdown size & forecasts, 2022-2032
- 10.1.2.2. Form breakdown size & forecasts, 2022-2032
- 10.1.2.3. Grade breakdown size & forecasts, 2022-2032
- 10.1.2.4. Application breakdown size & forecasts, 2022-2032
- 10.1.2.5. End User breakdown size & forecasts, 2022-2032
- 10.2. Europe Acetic Acid Market
- 10.2.1. U.K. Acetic Acid Market
- 10.2.2. Germany Acetic Acid Market
- 10.2.3. France Acetic Acid Market
- 10.2.4. Spain Acetic Acid Market
- 10.2.5. Italy Acetic Acid Market
- 10.2.6. Rest of Europe Acetic Acid Market
- 10.3. Asia-Pacific Acetic Acid Market
- 10.3.1. China Acetic Acid Market
- 10.3.2. India Acetic Acid Market
- 10.3.3. Japan Acetic Acid Market
- 10.3.4. Australia Acetic Acid Market
- 10.3.5. South Korea Acetic Acid Market
- 10.3.6. Rest of Asia Pacific Acetic Acid Market
- 10.4. Latin America Acetic Acid Market
- 10.4.1. Brazil Acetic Acid Market
- 10.4.2. Mexico Acetic Acid Market
- 10.4.3. Rest of Latin America Acetic Acid Market
- 10.5. Middle East & Africa Acetic Acid Market
- 10.5.1. Saudi Arabia Acetic Acid Market
- 10.5.2. South Africa Acetic Acid Market
- 10.5.3. Rest of Middle East & Africa Acetic Acid Market
Chapter 11. Competitive Intelligence
- 11.1. Key Company SWOT Analysis
- 11.2. Top Market Strategies
- 11.3. Company Profiles
- 11.3.1. Altiras Chemicals LLC
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. Market Strategies
- 11.3.2. Anant Pharmaceuticals Pvt. Ltd.
- 11.3.3. Ashok Alco Chem Limited
- 11.3.4. Azelis Group NV
- 11.3.5. BP PLC
- 11.3.6. Celanese Corporation
- 11.3.7. Central Drug House (P) Ltd.
- 11.3.8. China Petroleum & Chemical Corporation
- 11.3.9. Daicel Corporation
- 11.3.10. Eastman Chemical Company
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes