The global aceticacid market size was valued at USD 16.13 billion in 2023 and is projectedto grow from USD 17.20 billion in 2024 to USD 29.05 billion by 2032, exhibiting
a CAGR of 6.8% during the forecast period.. As per the researchteam, development and increasing applications in several industries such as
adhesives & sealants, paints & coatings, and textiles are likely to
amplify the market growth globally. The utilization of Vinyl Acetate Monomer
(VAM) is powered by the rising demand for paints and coatings across the world,
which nurtures the demand and growth of the market.
The report on the acetic acid market involves:
- Greater insights into the market
- Profound analysis of the segments
- Market drivers and restraints
- Comprehensive information about prominent players
- Dominant regions
- COVID-19 drastic effect on the market
Report Coverage
The market report highlights leading regions acrossthe world to offer a better understanding of the user. Furthermore, the report
provides insights into the latest industry trends and analyzes technologies
deployed at a rapid pace at the global level. The report examines various
paradigm shifts associated with the transformation of software.
It further highlights some of the growth-stimulatingfactors and restraints, helping the reader gain in-depth knowledge about the
human capital management market.
Segmentation
On the basis of application, the market issegregated into Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA),
ester solvents, acetic anhydride, and others. The vinyl acetate monomer (VAM)
segment held a principal share in the market.
Geographically, the global market is classifiedinto North America, Europe, Asia Pacific, Latin America, and the Middle East
& Africa.
Drivers and Restraints
Growing Demand for Vinyl Acetate Monomer to AssistMarket Growth
VAM is a transition that is utilized formanufacturing resins and polymers for films, textiles, coatings, adhesives,
paints, and other end-products. VAM is utilized in barrier resins for plastic
bottles. It also has uses in adhesive owing to union properties to diverse
substrates that involve wood, metals, paper, and plastic films.
Moreover, growth in the above-mentioned industriesis resulting in a rise in demand for vinyl acetate monomer. This is further
expected to bolster the acetic acid market growth during the forecast period.
Regional Insights
Asia Pacific was worth USD 3.73 billion in 2020 andis anticipated to hold the majority of the acetic acid market share which can
be accredited to an upsurge in polymer formulations in the region.
North America is likely to display promisingadvantages up to 2028. The growth in the chemical industry and increasing
demand from the end-use sectors such as construction and textile industries are
occasioning in great utilization of ethanoic acid in numerous applications.
