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Published: Feb, 2014 | Pages:
75 | Publisher: Grand View Research
Industry: Chemicals | Report Format: Electronic (PDF)
Global Acetic Acid Market Expected to Reach USD 12.20 billion by 2020
February 2014
The global market for acetic acid is expected to reach USD 12.20 billion by 2020. 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.
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 for 37.31% of global volume. The region is also expected to witness fastest growth at an estimated CAGR of 6% from 2014 to 2020. The presence of end user industries such as automotive, construction and packaging among others is expected to be a key driving factor for increased demand in the region. In addition, low labor and raw material cost in the region make them feasible for manufacturing activities.
Rest of Asia was the second largest market and consumed 2,673.9 kilo tons of acetic acid in 2013. Countries such as India and Japan are expected to be the key contributors to the growing demand in the region. North America and Europe are expected to be sluggish markets on account of increased preference and government support towards bio based products.
The global market is consolidated with the top five companies accounting for over 70% of total market demand in 2013, with Celanese Corporation and British Petroleum being the largest companies, at a combined market share of over 45%. Other key companies in the market include BASF, DuPont, Eastman Chemicals, Sinopec and PetroChina among others.
For the purpose of this study, Grand View Research has segmented the global acetic acid market on the basis of application and region:
Acetic Acid Application Outlook
VAM
PTA
Acetate Esters
Acetic Anhydrides
Others
Acetic Acid Regional Outlook
North America
Europe
China
Rest of Asia
RoW
Table of Contents
Chapter 1 Executive Summary 1.1 Acetic Acid - Industry Summary & Critical Success Factors (CSFs) Chapter 2 Acetic Acid Industry Outlook 2.1 Market Segmentation 2.2 Market Size and Growth Prospects 2.3 Market Dynamics 2.4 Value Chain Analysis 2.5 Raw Material Analysis 2.6 Key Opportunities Prioritized 2.7 Acetic Acid - Company Market Share Analysis 2.8 Acetic Acid - PESTEL Analysis Chapter 3 Acetic Acid Application Outlook 3.1 VAM 3.2 PTA 3.3 Acetate Esters 3.4 Acetic Anhydride 3.5 Others Chapter 4 Acetic Acid Regional Outlook 4.1 North America 4.2 Europe 4.3 China 4.4 Rest of Asia 4.5 RoW Chapter 5 Acetic Acid Competitive landscape 5.1Celanese 5.1.1Company Overview 5.1.2 Financial Performance 5.1.3 Product Benchmarking 5.1.4 Strategic Initiatives 5.2 British Petroleum 5.2.1Company Overview 5.2.2 Financial Performance 5.2.3 Product Benchmarking 5.2.4 Strategic Initiatives 5.3 Jiangsu Sopo 5.3.1 Company Overview 5.3.2 Financial Performance 5.3.3 Product Benchmarking 5.3.4 Strategic Initiatives 5.4 Eastman Chemical 5.4.1 Company Overview 5.4.2 Financial Performance 5.4.3 Product Benchmarking 5.4.4 Strategic Initiatives 5.5 Carl Zeiss 5.5.1 Company Overview 5.5.2 Financial Performance 5.5.3 Product Benchmarking 5.5.4 Strategic Initiatives 5.6 Yancon Cathay Chemical 5.6.1 Company Overview 5.6.2 Financial Performance 5.6.3 Product Benchmarking 5.6.4 Strategic Initiatives 5.7 LyondellBasell 5.7.1Company Overview 5.7.2 Financial Performance 5.7.3 Product Benchmarking 5.7.4 Strategic Initiatives 5.8 SABIC 5.8.1Company Overview 5.8.2 Financial Performance 5.8.3 Product Benchmarking 5.8.4 Strategic Initiatives 5.9 Sinopec 5.9.1 Company Overview 5.9.2 Financial Performance 5.9.3 Product Benchmarking 5.9.4 Strategic Initiatives 5.10 BASF 5.10.1 Company Overview 5.10.2 Financial Performance 5.10.3 Product Benchmarking 5.10.4 Strategic Initiatives 5.11 DuPont 5.11.1 Company Overview 5.11.2 Financial Performance 5.11.3 Product Benchmarking 5.11.4 Strategic Initiatives 5.12 Sasol 5.12.1 Company Overview 5.12.2 Financial Performance 5.12.3 Product Benchmarking 5.12.4 Strategic Initiatives 5.13 PetroChina 5.13.1 Company Overview 5.13.2 Financial Performance 5.13.3 Product Benchmarking 5.13.4 Strategic Initiatives Chapter 6 Mehodology and Scope 6.1 Research Methodology 6.2 Research Scope & Assumption 6.3 List of Data Sources List of Tables
Global Acetic acid market volume and revenue, 2012 - 2020 Global Acetic acid market volume by region, (Kilo tons), 2012 - 2020 Global Acetic acid market revenue by region, (USD million), 2012 - 2020 Global Acetic acid market volume by application, (Kilo tons), 2012 - 2020 Global Acetic acid market revenue by application, (USD million), 2012 - 2020 Global Acetic acid demand in VAM, 2012 - 2020 (Kilo tons) Global Acetic acid demand in VAM, 2012 - 2020 (USD million) Global Acetic acid demand in PTA, 2012 - 2020 (Kilo tons) Global Acetic acid demand in PTA, 2012 - 2020 (USD million) Global Acetic acid demand in acetate esters, 2012 - 2020 (Kilo tons) Global Acetic acid demand in acetate esters, 2012 - 2020 (USD million) Global Acetic acid demand in acetic anhydride, 2012 - 2020 (Kilo tons) Global Acetic acid demand in acetic anhydride, 2012 - 2020 (USD million) Global Acetic acid demand in other application, 2012 - 2020 (Kilo tons) Global Acetic acid demand in other application, 2012 - 2020 (USD million) North America Acetic acid market volume by application, (Kilo tons), 2012 - 2020 North America Acetic acid market revenue by application, (USD million), 2012 - 2020 Europe Acetic acid market volume by application, (Kilo tons), 2012 - 2020 Europe Acetic acid market revenue by application, (USD million), 2012 - 2020 China Acetic acid market volume by application, (Kilo tons), 2012 - 2020 China Acetic acid market revenue by application, (USD million), 2012 - 2020 Rest of Asia Acetic acid market volume by application, (Kilo tons), 2012 - 2020 Rest of Asia Acetic acid market revenue by application, (USD million), 2012 - 2020 RoW Acetic acid Market volume by application, (Kilo tons), 2012 - 2020 RoW Acetic acid Market revenue by application, (USD million), 2012 - 2020 List of Figures Acetic acid industry summary & critical success factors (CSFs) Acetic acid market segmentation Global Acetic acid market (volume & revenue), 2012 - 2020 Global Acetic acid market volumes growth by region, (Kilo tons), 2012 - 2020 Global Acetic acid market volumes growth by application, (Kilo tons), 2012 - 2020 Acetic acid market dynamics Acetic acid company market share analysis, 2012 Key opportunities prioritized Industry analysis - Porter's Acetic acid PESTEL analysis, 2012 Acetic acid market volume share by application, 2012 & 2020 Global Acetic acid demand in VAM, (volume & revenue), 2012-2020 Global Acetic acid demand in PTA, (volume & revenue), 2012-2020 Global Acetic acid demand in Acetate esters, (volume & revenue), 2012-2020 Global Acetic acid demand in Acetic anhydride , (volume & revenue), 2012-2020 Global Acetic acid demand in other application, (volume & revenue), 2012-2020 Acetic acid market volume share by region, 2012 & 2020 North America Acetic acid market volume by application, (Kilo tons), 2012 North America Acetic acid market revenue by application, (USD million), 2012 Europe Acetic acid market volume by application, (Kilo tons), 2012 Europe Acetic acid market revenue by application, (USD million), 2012 China Acetic acid market volume by application, (Kilo tons), 2012 China Acetic acid market revenue by application, (USD million), 2012 Rest of Asia Acetic acid market volume by application, (Kilo tons), 2012 Rest of Asia Acetic acid market revenue by application, (USD million), 2012 RoW Acetic acid Market volume by application, (Kilo tons), 2012 RoW Acetic acid Market revenue by application, (USD million), 2012
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