In terms of revenue in 2014, the global industry for acetic acid was calculated to be USD 9,075.0 million and is projected to reach USD 14,784.2 million by 2022, growing at a CAGR of 6.8% from 2015 to 2022. In 2014, in terms of volume the industry demand for acetic acid was 12,100.0 kilo tons and is projected to reach 16,824.2 kilo tons by 2022 at a CAGR of 4.7% during the forecast period.acetic-acid-industry-by-geography
Acetic acid is used as key raw material in manufacturing numerous downstream chemicals such as purified terephthalic acid (PTA), vinyl acetate monomer (VAM), acetic anhydride and acetate esters. These chemicals are further used in wide range of end users industries such as textiles, construction, automobile, pesticides and food ingredients among others. Rising demand for these chemicals in turn is increasing the industry demand for acetic acid. Fluctuation in the prices of feed stocks and environmental concerns are major factors restraining the industry growth. Emerging technologies and shift in production towards bio based acetic acid will provide huge industry opportunities in the future.
- Browse Full Report At http://www.credenceresearch.com/report/acetic-acid-market
In 2014, by application type, vinyl acetate monomer (VAM) was the largest application segment for the industry accounting for 33% of the global acetic acid consumption. It is projected to maintain its dominance during the forecast period. Consumption of acetic acid in the manufacturing of VAM is mainly driven by the rising demand for VAM from the adhesive and sealant industry. Acetate Esters is the fastest growing segment of the industry driven by the high demand from the coating industry. In 2014, consumption of acetic acid by acetate esters segment was 2,432.1 kilo tons.
In 2014, Asia Pacific was the largest and fastest growing industry for acetic acid and accounted 60% share of the industry pie in terms of volume and revenue. It is projected to maintain its dominance during the forecast period. Asia Pacific was followed by North America with a considerable demand. China is the major consumer of acetic acid and is projected to maintain its dominance due to rapid industrialization during the forecast period. Both, Europe and North America industry are comparatively mature industry and is projected to witness moderate growth rate.
Companies such as DuPont, British Petroleum (BP), Celanese, and Eastman Chemicals dominated the industry along with various other manufacturers.
Request Free Sample: http://www.credenceresearch.com/sample-request/57808
Credence Research is a worldwide industry research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Name: Chris Smith
Designation: Global Sales Manager