By Daniel Webster, dWeb.News Publisher
DUBLIN–(BUSINESS WIRE)–The “Acetic Acid Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The acetic acid market size was estimated at 15,924 kiloton in 2020, and the market is projected to register a CAGR of over 5% during the forecast period (2021-2026).
Chang Chun Group
China Petrochemical Corporation
Eastman Chemical Company or its subsidiaries
Jiangsu SOPO (Group) Co. Ltd
Kanoria Chemicals & Industries Ltd
Kingboard Holdings Limited
LyondellBasell Industries Holdings BV
Mitsubishi Chemical Corporation
PetroChina Company Limited
Shandong Hualu-Hengsheng Chemical Co. Ltd
Shanghai Wujing Chemical Co. Ltd
Showa Denko KK
Svensk Etanolkemi AB (SEKAB)
Tanfac Industries Ltd
Wacker Chemie AG
Key Market Trends
Increasing Applications in the Adhesives, Paints, and Coatings Industry
Vinyl acetate monomer (VAM) is used in producing water-based paints, adhesives, waterproofing coatings, and paper and paperboard coatings. Hot melt adhesives can also be made from PTA-based polyamides and polyesters. PTA can be used as a carrier in paints.
Adhesives can be used in automobiles for a variety of purposes. It’s used for assembly of windshields, brakes and thread lockers. Up to Q3 of 2019, about 67. 47 million vehicles were produced globally and reached about 52 million vehicles up to Q3 of 2020, registering a decline rate of about 23%, thus led to a decrease in the demand for adhesives and VAM, which, in turn, negatively impacted the market growth of acetic acid.
The rising construction activity in Asia-Pacific emerging economies is expected to increase the demand for adhesives and paints. This will have a positive impact on the market for acetic acid end-use products.
Some Middle Eastern countries have seen a strong growth in the construction industry over the last few years. These countries receive huge foreign and domestic investments to set up industrial units, malls and multiplexes, as well as the hospitality industry and the IT sector. This will also drive demand for adhesives and paints. This will in turn have a positive impact on the market.
However, due to the COVID-19 pandemic scenario, the above-mentioned end-user industries have been affected and have witnessed a negative growth rate, thus, hindering the acetic acid market demand.
Asia-Pacific Region to Dominate the Market
Asia-Pacific is the largest consumer of acetic acid in the global market. Due to its strong industrial base, the Asia-Pacific market will be the largest for the textile industry. China, a major hub for chemical processing and the source of most of the world’s chemical production, is . The demand for intermediates such as acetic acids from this sector will rise significantly due to the increasing global demand.
Currently, China produces more than half of the coatings from Asia-Pacific and is home to more than 10,000 paint companies, among which local producers occupy more than half of the share in the domestic paints market.
India’s growing market for printing inks has led to a strong growth of the market. This is due to the increasing demand from packaging printing, newsprint and other commercial printing. The forecast period will see a significant increase in the demand for acetic acids in the region.
China is the biggest market for VAM in the world. In terms of volume, the country accounted for more than 30% of the global consumption. The strong and stable textile and packaging market in China is responsible for this large share.
In 2019, Asia-Pacific’s VAM market volume was around 3.6 million ton, and it is expected to reach approximately 5 million ton by 2024, with a growth rate of over 6.5%, which, in turn, will stimulate the demand in the acetic acid market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand for Vinyl Acetate Monomer (VAM)
4.1.2 Increasing Demand from the Textile and Packaging Industry
4.1.3 Increasing Use of Ester Solvents in the Paints and Coating Industry
4.2.1 Environmental Concerns Regarding the Harmful Effects
4.2.2 Unfavorable Conditions Arising Due to the Impact of COVID-19
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.5 Import and Export Trends
4.6 Price Trends
4.7 Feedstock Analysis
4.8 Technological Snapshot
4.9 Supply Scenario
5 MARKET SEGMENTATION (Market Size by Volume)
5.1 By Derivative
5.2 By End-user Industry
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Development of New Separation Technologies to Increase the Production Efficiency
For more information about this report visit https://www.researchandmarkets.com/r/d1dzwc
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