According to ChemAnalyst report, “Acetic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030”. Global Acetic Acid market witnessed a demand around 11.9 million tons in 2020 and is anticipated to grow at a healthy CAGR of 4.83% until 2030, owing to its demand by several end use industries as an important chemical or industrial reagent such as a food acidity regulator, an antimicrobial food preservative and protic solvent, etc.
The chemical industry stands as a significant consumer of acetic acid, utilizing it in the production of various chemicals like acetate esters, acetic anhydride, and acetate plasticizers. Furthermore, acetic acid serves as a vital component in the synthesis of important chemicals such as acetic acid vinegar, acetic acid glacial, and others, amplifying its market demand.
In the textile industry, acetic acid finds extensive use in the creation of acetate fibers and fabrics. Acetate is favored for its properties like softness, absorbency, and dye affinity, making it a sought-after material for clothing, upholstery, and other textile products.
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The food and beverage industry is yet another sector propelling the acetic acid market forward. Acetic acid, in the form of vinegar, is a common food additive utilized for its preservative properties and distinctive flavor. Additionally, acetic acid plays a pivotal role in the fermentation process for various food items, including pickles and condiments.
Pharmaceuticals represent a burgeoning sector for acetic acid usage, particularly in the production of medicinal compounds, such as acetylsalicylic acid (aspirin), which is a widely used over-the-counter drug for pain relief and fever reduction.
The rapid urbanization, growing populations, and expanding industrialization in developing economies are contributing significantly to the increasing demand for acetic acid. Moreover, the rising trend towards environmentally friendly and bio-based acetic acid production methods is anticipated to further fuel market growth.
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“Acetic Acid and its derivatives, finds applications in various industries such as Plastics and Polymers, Food and Beverages, Adhesives, Pharmaceuticals, Paints and Coatings and Others. Growing automobile, Construction and Household sectors consequently drive the market for Polymers, adhesives, sealants, paints and coatings that directly fuels the demand for Acetic Acid. All these applications are likely to offer new opportunities for the major players to expand their capacities as well as investing in the greenfield projects to meet the rising demand for Acetic acid which ultimately boost Acetic acid market in the forecast years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.
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