DUBLIN--(BUSINESS WIRE)--The "Glacial Acetic Acid Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The market for glacial acetic acid is expected to grow at a CAGR of more than 5% globally during the forecast period.
The growing demand from the PVC segment and packaging industry have been driving the market growth. However, the corrosive nature and can injure skin on contact and unfavorable conditions arising due to the COVID-19 outbreak across the globe are likely to hinder the growth of the studied market.
The research and development in catalysis of carbon aerogels used as electrode material in the electrical double-layer capacitor using glacial acetic acid are likely to provide opportunities for the glacial acetic acid market over the next five years.
Asia-Pacific dominated the market across the globe with the largest consumption from countries such as China and India.
Key Market Trends
Vinyl Acetate Monomer Segment to Dominate the Market
- Vinyl acetate monomer segment stands to be the dominating segment owing to its widespread consumption in various end-use industries such as consumer goods, packaging, automotive, and construction.
- Glacial acetic acid witnessing an increase in consumption in a wide range of applications such as preservative in food & beverages, pharmaceuticals, paints, coatings, inks, vinegar and in the production of terephthalic acid, synthetic camphor, aniline, propylene terephthalate, etc.
- Vinyl acetate monomer is used in adhesives and sealant industries and can be commercially produced using glacial acetic acid. Demand for vinyl acetate monomer has been witnessing substantial rise owing to rising consumption of adhesives and sealants over the world.
- Vinyl acetate monomer is an intermediate used in the manufacture of a number of industrial polymers and resins for the production of adhesives, coatings, paints, films, and textiles, as well as wire and cable insulation which in turn drives the ,arket growth for glacial acetic acid.
- In addition, glacial acetic acid is considered a major raw material for production of purified terepthalic acid (PTA) which further finds application in the packaging industry. Growth of packaging industry is anticipated to drive the market growth.
- All the aforementioned factors are expected to drive the glacial acetic acid market during the forecast period.
Asia-Pacific to Dominate the World Market
- Asia-Pacific was the largest market for glacial acetic acid which is expected to grow on account of increasing demand for the product from countries such as China, India and Japan.
- Glacial acetic acid is used as a buffering agent in dyeing the cloth with color and most used to print various designs on clothes in the textile industry. In addition, production of acetic anhydride also seeks the use of the glacial acetic acid as a condensing agent which is further used in synthetic textiles and photographic films.
- Prospering textile industry owing to the exploding population in the Asia-Pacific region is expected to augment the demand for glacial acetic acid.
- Furthermore, the application of glacial acetic acid as a flavoring agent in the food & beverage industry and increasing demand for special foods & beverages is expected to propel the glacial acetic acid demand in the Asian region over the forecast period.
- Hence, all such market trends are expected to drive the demand for glacial acetic acid market in the region during the forecast period.
The global glacial acetic acid market is fragmented in nature with a few major players dominating a significant portion of the market. Some of the major companies are Jubilant Life Sciences Limited, Celanese Corporation, Eastman Chemical Company, DAICEL Corporation, and SABIC amongst others.
Key Topics Covered
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Growing Demand from Vinyl Acetate Monomer
4.1.2 Increasing Consumption of Preservatives
4.2.1 Corrosive Nature
4.2.2 Unfavorable Conditions Arising due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
5 MARKET SEGMENTATION
5.2.1 Vinyl Acetate Monomer
5.2.2 Ester Production
5.2.3 Acetic Anhydride
5.2.5 Food Additive
5.3.2 North America
5.3.4 South America
5.3.5 Middle-East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Akshar Enterprises
6.4.3 Banner Chemicals Limited
6.4.4 Celanese Corporation
6.4.5 Central Drug House
6.4.6 DAICEL Corporation
6.4.7 Eastman Chemical Company
6.4.9 ITW Reagents Division
6.4.10 Jubilant Life Sciences Limited
6.4.11 KH Chemicals
6.4.13 R.M. Chemicals
6.4.15 Merck KGaA
6.4.16 Spectrum Chemical Manufacturing Corp.
6.4.17 Tan Hung Phu Chemical
6.4.18 Thana Acid and Chemical Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 R&D in Catalysis of Carbon Aerogels Using Glacial Acetic Acid
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/zbqof3