The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Expansion: An Overview

• The acetic acid market has witnessed significant growth recently.
• From $15.33 billion in 2023, it is projected to reach $16.26 billion in 2024, with a CAGR of 6.1%.

Historical Growth Drivers

• Growth in the chemical industry, textile production, surface coating applications, and pharmaceutical usage have fueled historic growth.
• Industries like paper and pulp processing and water treatment have also contributed significantly.

Anticipated Growth and Trends

• Expectations are high for continued growth, with forecasts predicting expansion to $20.57 billion by 2028, boasting a CAGR of 6.0%.
• Major trends in the forecast period include bio-based production, green chemistry focus, and increased demand in various industries.

Textile Sector Expansion Drives Market Growth

• Expansion in the textile sector is a significant driver for the acetic acid market.
• Acetic acid plays a crucial role in producing rayon and artificial materials in textiles.
• Market predictions indicate substantial growth in the global textile market, underscoring the industry’s impact on acetic acid demand.

Read The Full Acetic Acid Market Report Here:
https://www.thebusinessresearchcompany.com/report/acetic-acid-global-market-report

Innovative Green Solutions

• Major companies are focusing on sustainable solutions, such as green ethanol-based acetic acid.
• These solutions adhere to the principles of green chemistry and promote environmental sustainability.
• Initiatives like Jubilant Ingrevia Limited’s new green ethanol-based food-grade acetic acid plant demonstrate the industry’s commitment to sustainability.

Strategic Acquisitions Drive Market Dynamics

• Strategic acquisitions play a pivotal role in market dynamics and expansion.
• INEOS Group Limited’s acquisition of BP Plc’s aromatics and acetyls business strengthens its portfolio and global reach.
• BP Plc’s expertise in acetic acid aligns with INEOS Group’s expansion strategy in the polyester sector.

Market Segmentation

• The acetic acid market is segmented based on sales channels, applications, and end-uses.
• Sales channels include direct company sales, distributors, and retailers.
• Applications range from vinyl acetate monomer to pharmaceuticals.
• End-uses span across food and beverages, paints and coatings, plastics and polymers, and more.

Regional Insights

• Asia-Pacific emerged as the largest region in the acetic acid market in 2023.
• It is expected to maintain its position as the fastest-growing region in the forecast period.

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The Acetic Acid Global Market Report 2024  provides an overview of the acetic acid market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The acetic acid market forecast analyzes acetic acid market size, acetic acid market share, leading competitor and their market positions.

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