Acetic Acid Market Acquiring Demand From Healthcare Industry

The acetic acid market is poised for healthy returns in the near future, according to the findings of a recent business study by IndustryARC. The analyst of the report estimates the global acetic acid market size at $9 billion in 2018, and projects the acetic acid market demand to grow at a CAGR of around 4% during the forecast period of 2019 to 2025. The report is titled “Acetic Acid Market: by forms (liquid, solid); by application (Easter production, vinegar, vinyl acetate monomer, purified terephathalic acid, acetic anhydride, Ph regulation agents, photochemical); by industry (electroplating, laboratory chemicals, and others) & geography - forecast (2019 - 2025).”

APAC is identified as the key region in terms of growth potential among all regions wherein acetic acid marketplace gains demand, contributing a share of more than 30% as of 2018. The growth rate is increasing in this region because of rapid industrialization and surge in the construction industry. The surge in the construction industry, especially in countries such as China and India is influencing the purchase size of paints and coatings, which are made by using polyvinyl acetate monomer.

Analyst of the report says that the textile industry is currently the key end use industry segment, dominating among other diverse applications in industries such as electroplating and chemical laboratories; it is estimated to grow with a good CAGR of around 6% during the forecast period 2019-2025. Acetic acid is used as a buffering agent in dyeing the cloth with a particular color. Glacial acetic acid is the most commonly used organic acid to print various designs on clothes in the textile industry.

According to World Health Organization, cancer is a primary cause of death globally accounting for an estimated 9.6 million deaths in 2018. Between 30–50% of cancers can currently be averted by using prevention strategies, such as screening method, in which visual inspection with acetic acid for cervical cancer is prevented in low income settings. The increasing usage of vinyl acetate monomer (VAM), polyvinyl acetate in paints and coatings is another major factor driving the growth of the acetic acid market during the forecast period. 

Acetic acid is a synthetic carboxylic acid, which adds sour taste and pungent smell to vinegar. The various uses of acetic acid includes the production of plastic soft drink bottles, photographic film, polyvinyl acetate for wood glue, and many synthetic fibers and fabrics. The diluted acetic acid is often used as a cleaning agent in household, and hospitals. It is also used as an acidity regulator in the food industry.

Some of the major players operating in the global acetic acid market are BP Plc., Celanese Corporation, DuPont Corporation, and Eastman Chemical Co. BP and Lotte have agreed a major expansion of petro chemical production at their joint venture Lotte BP Chemical Company Limited in Ulsan, South Korea. This expansion is projected to produce large amount of 100,000 tonnes per year of acetic acid by May 2019 through debottlenecking process which can be used by various end use industries.   

Organic Acids Market: By Type (Acetic Acid, Citric Acid, Formic Acid, Lactic Acid, Prop ionic Acid, Fumaric Acid & Others) & By Geography - Forecast(2018 - 2023)

Chloroplatinic Acid Market: By Product(99% Chloroplatinic Acid Hexahydrate (2N), 99.9% Chloroplatinic Acid Hexahydrate (3N), 99.99% Chloroplatinic Acid Hexahydrate (4N), 99.999% Chloroplatinic Acid Hexahydrate (5N)); By Application; By Geography Forecast (2018 2023)