Global Acetic Acid Market to 2020 - Industry Applications, Market Size

The global market for acetic acid is expected to reach USD 12.20 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand from application segments such as Vinyl Acetate Monomer (VAM) and Purified Terephthalic Acid (PTA) is expected to drive demand for acetic acid over the forecast period. PTA is the primary raw material for the manufacturing of PET which is a polymer extensively used in packaging industry. Positive outlook for the packaging industry, particularly in Asia Pacific is expected to directly impact the demand for acetic acid over the next six years.

VAM was the largest application segment for acetic acid and accounted for 32.4% of the global consumption in 2013. VAM is used in the adhesive and sealant industry, and the expected growth in automobile and construction industry in India, China, South Korea, Malaysia and Japan is expected to have a positive impact on the market. PTA was the second largest consumer of acetic acid, accounting for over 3 million tons in 2013, and is also expected to witness fastest growth, at an estimated CAGR of 5.8% from 2014 to 2020. Growing demand for PET in rigid packaging is expected to drive acetic acid demand over the next six years. However, the fluctuating raw material availability and prices is expected to be a key restraint for the growth of this market. The industry anticipates significant opportunity for producing acetic acid from alternate sources, with the market witnessing significant R&D investment recently.

The report “Acetic Acid Market Analysis And Segment Analysis To 2020,” is available now to Grand View Research customers
and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/acetic-acid-market

Further key findings from the study suggest:
• The global acetic acid market was 10,449.1 kilo tons in 2013 and is expected to grow at a CAGR of 5.1% from 2014 to 2020.
• China was the largest consumer of acetic acid in 2013, accounting...