Acetic Acid Market Analysis

Application (Vinyl Acetate Monomer [VAM], Purified Terephthalic Acid [PTA], Ester Solvents, Acetic Anhydride)

The global acetic acid market is segmented and analyzed for demand and supply by application into vinyl acetate monomer [VAM], purified terephthalic acid [PTA], ester solvents, acetic anhydride, and others. Out of these segments, the VAM segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing construction and infrastructure industries across the world. The growing cosmetics and textile industries are also estimated to impact the market growth, as VAM is used for packaging in these sectors. The advancement in the packaging sector with the introduction of multilayer barrier technology increases e-commerce sales. The e-commerce sales in the U.S. between 2011-2021 raised by five times with estimations of over USD 500 billion worth of sales in the first six months of 2022. Moreover, the escalation in the chemical industry where VAM is highly utilized in the production of polyvinyl acetate and polyvinyl alcohol is further expected to boost the segment’s growth in the market.

End-user (Plastics & Polymers, Food & Beverages, Inks, Paints, & Coatings, Chemicals, Pharmaceuticals)

The global acetic acid market is also segmented and analyzed for demand and supply by end-user into plastics & polymers, food & beverages, inks, paints, & coatings, chemicals, and pharmaceuticals. Out of these, the paints and coatings segment are anticipated to hold the largest market size by the end of 2037 on account of the surge in demand for the growing construction, architecture, and automotive sectors. As per the U.S. Bureau of Transportation Statistics, the number of new vehicle sales and leases raised from 57,545 in 2018 to 57,865 in 2019. Moreover, the increasing spending ability of people across the world rises with urbanization. This results in increasing residential buildings and commercial building construction. Also, the increasing government initiatives to improve architectural services increase the use of paints and coatings. The renovation works for tourism structures, and the building of medical facilities together increase the growth of the market segment, as per the market analysis.

Our in-depth analysis of the global acetic acid market includes the following segments: