The world Acetic Acid Market is expected to register substantial growth during the forecast period due to its extensive application in the production of vinyl acetate monomer (VAM) and terephthalic acid (TPA). VAM, used in paints and adhesives consumes approximately 40% to 45% of the worlds acetic acid produced. TPA on the other hand uses acetic acid to manufacture polyethylene terephthalate (PET) plastic bottles for carbonated drinks and resins. Besides this, acetic acid is also used in the food industry and household items as a preservative. Thus, the high demand for acetic acid in VAM & TPA production and food industry would bolster the acetic acid market growth.
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However, environmental concerns such as non-biodegradability and emission of harmful elements such as aerosols into the environment can restrain the growth of acetic acid in VAM and TPA production.
Acetic acid acid is a colorless liquid with strong and pungent smell, which is also known as ethanoic acid or methanecarboxylic. Approximately 75% of the acetic acid is produced synthetically by carbonylation of methanol and this process. However, acetic acid can also be produced by bacterial fermentation and accounts for only about 10% of world production. This biological route of acetic acid production is majorly used for vinegar production due to food purity laws, which stipulate to use vinegar of biological origin.
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Their main application includes production of chemical compounds such as vinyl acetate monomer, acetic anhydride, and ester production. Products of commercial importance made from acetic acid are latex emulsion resins for paints, adhesives, and paper coatings, textile finishing agents, cellulose acetate fibers, cigarette filter tow, and cellulosic plastics.
For instance, Saudi International Petrochemical Company has planned to acquire equities in various companies such as International Acetyl Company Ikarus Petroleum Industries Company, and International Vinyl Acetate Company in June 2015.
ACETIC ACID MARKET KEY SEGMENTS:
World acetic acid market – by Manufacturing Process
World acetic acid market – by Application
World acetic acid market – by Geography
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