IMARC Group, a leading market research company, has recently released a report titled “Asia Pacific Acetic Acid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Asia Pacific acetic acid market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Asia Pacific Acetic Acid Market?
| Report Attributes | Details |
| Market Size in 2022 | 10.8 Million Tons |
| Market Forecast in 2028 | 12.1 Million Tons |
| Growth rate (2023 to 2028) | CAGR of 1.7% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is Acetic Acid?
Acetic acid, alternatively referred to as methane carboxylic and ethanoic acid, possesses a pungent aroma and imparts a sour taste. It can be generated through processes, such as fermentation, ethanol oxidation, or chemical synthesis. Acetic acid is transparent and colorless, emitting a vinegar-like odor while exhibiting corrosive properties toward tissues and metals. It can undergo reactions with alcohol to form esters, with metals to form acetates, and with bases to yield acetate salts. In addition to this, acetic acid serves as a reagent in synthesizing active pharmaceutical ingredients (APIs) like acetylsalicylic acid (commonly known as aspirin) and acetaminophen. As a result, this compound finds widespread applications in the production of specific pharmaceutical products, including vitamins, antibiotics, and various other drugs.
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What are the Growth Prospects and Trends in the Asia Pacific Acetic Acid Industry?
The escalating product need for the production of vinegar which is associated with maintaining blood sugar levels and reducing weight, the rising consciousness in individuals towards the benefits associated, and the high cases of diabetes and obesity in the region are among the primary factors driving the Asia Pacific acetic acid market. Besides this, the elevating requirement for this substance in manufacturing coatings, greases, polyesters, and sealants that find utilization in several industries, including electronics, automobiles, textiles, and packaging, is further augmenting the market growth. Moreover, acetic acid is extensively used for the early hydration of off-white Portland cement, owing to the prevalence of cold weather conditions, which is also catalyzing the market across the Asia Pacific. Apart from this, the expanding construction sector and the growing demand for paints and coatings, on account of the inflating population, are expected to bolster the Asia Pacific acetic acid market in the coming years.
What is Included in Market Segmentation?
The report has categorized the market based on application and end use industry.
Breakup by Application:
- VAM
- PTA
- Anhydride
- Ethyl Acetate
- Butyl Acetate
- Others
Based on End Use Industry:
- Plastics & Polymers
- Food & Beverage
- Inks, Paints & Coatings
- Chemicals
- Pharmaceuticals
- Others
Countries Covered:
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Who are the Key Players Operating in the Asia Pacific Acetic Acid Market?
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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