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Acetic Acid Market – New Revenue Pocket
Acetic acid is a colorless liquid with a strong pungent odor with a boiling point of 118°C, melting point of 16.6°C, and molecular weight of 60.05 g/mol. It is mainly produced by the methanol carbonylation technique wherein methanol and carbon monoxide react to produce acetic acid. Acetic acid is a carboxylic acid, which is an important feedstock to manufacture various chemicals, such as vinyl acetate monomer (VAM), purified terephthalic acid (PTA), acetic anhydride, and ester solvents (ethyl acetate & butyl acetate) that are further used in various industries.
Asia-Pacific led the acetic acid market, accounting for more than half of the total consumption in 2012, and this demand is projected to grow at a CAGR of about 5.01% from 2013 to 2018. The Asia-Pacific market is expected to encompass upcoming production capacities of vinyl acetate monomer, purified terephthalic acid, ester solvents, and acetic anhydride, and this may ultimately drive the demand for acetic acid in the future.
Also, the budding demand for vinyl acetate monomer (VAM), which is employed as an intermediate for the production of vinyl acetate (co) polymers & monomers, ethylene-vinyl acetate (EVA) copolymers, and ethylene vinyl alcohol (EVOH) resins, is expected to influence the acetic acid market. Since VAM consumption is growing at a considerable growth rate due to its use in various applications, it is in turn accelerating and driving the demand for acetic acid at a significant pace.
The other factors driving the industry are increasing penetration of ester solvents (ethyl acetate & butyl acetate) in the coating industry and the increasing consumption of purified terephthalic acid (PTA) in the textile & packaging industry, which may in turn augment the demand for acetic acid at a notable rate
The acetic acid market is highly innovation-centric and the market players are pushing their capabilities to adopt the latest technological trends. They are focusing on the development of next generation technologies with alternate feedstock that enable to differentiate from their competitors providing a competitive edge to the companies. Hence, positive technological breakthroughs may elevate the demand for acetic acid and may also turn out to be a significant opportunity for market players in the near future. Also, various upcoming capacities of acetic acid derivative plants are witnessed in the coming years that could boost the production and the demand for acetic acid, globally.
Acetic Acid Market & Its Derivatives (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetic Anhydride, & Ester Solvents - Ethyl Acetate & Butyl Acetate) Market By Applications & Geography - Trends & Forecasts to 2018
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