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Acetic Acid Market Present Scenario and Growth Prospects 2022

Increasing consumption of PTA for manufacturing polyester coupled with rising application scope of polyester in the textile industry is likely to fuel acetic acid market growth over the next seven years.

Global Acetic Acid Market is expected to reach USD 13.31 billion by 2022, according to a new study by Grand View Research, Inc.



Growing demand for VAM which is used as a precursor for manufacturing EVA and EVAc coupled with an increasing consumption of these downstream chemicals in the formulation of solvents and adhesives is expected to drive acetic acid market. Acetic acid is also used as a key ingredient in vinegar. Rising demand for vinegar owing to numerous health benefits associated with it is expected to augment market growth over the forecast period.

Acetic acid demand for manufacturing VAM exceeded 3,600 kilo tons in 2014 and the segment is projected to grow at a CAGR of over 4% from 2015 to 2022. Vinyl acetate monomer (VAM) is used in production of various adhesives and water based paints.

To Know More About Acetic Acid Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/acetic-acid-market

Rising demand for industrial coatings and paints on account of growing infrastructure, specifically in emerging economies including China, Brazil and India, is a key factor for the growth of (VAM) over the forecast period.

Top Players of Acetic Acid Market:

Key players present in the global acetic acid market include Celanese, Jiangsu Sopo (Group) Co., BP, Eastman Chemicals, DuPont, BASF and Wacker Chemie.

Regional Analysis of Acetic Acid Market:

China was the largest market for acetic acid in 2014 alone accounting for over 40% of the global volume demand. Presence of a robust manufacturing hub in the region has been one of the primary factors for the high demand of acetic acid over the past few years. In addition, positive outlook regarding expansion of the manufacturing industry in the region is expected to maintain dominance of China within the global acetic acid market over the forecast period.

Asia Pacific was the second largest market for acetic acid, with India and Japan dominating the regional market. Asia acetic acid market is projected to grow at a CAGR of over 10.0% over the forecast period and is estimated to reach a value of over USD 3.0 billion by 2022.

Inquire about Acetic Acid Market with Our Experts @ https://www.grandviewresearch.com/inquiry/224
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