What is Global Ethanoic Acid Market?
The Global Ethanoic Acid Market is a vast and dynamic sector that plays a crucial role in various industries worldwide. Ethanoic Acid, also known as acetic acid, is a colorless liquid that possesses a strong and distinctive pungent, vinegar-like odor. It is a significant component in the production of numerous chemicals and materials. The global market for Ethanoic Acid is a multi-billion dollar industry, with its value standing at US$ 4754 million in 2022. The market is projected to grow at a steady pace, with an expected value of US$ 5990 million by 2029, indicating a Compound Annual Growth Rate (CAGR) of 3.3% from 2023 to 2029.
Methanol carbonylation, Acetaldehyde oxidation process, Others in the Global Ethanoic Acid Market:
The production of Ethanoic Acid involves several processes, including Methanol carbonylation, Acetaldehyde oxidation, and others. Methanol carbonylation is the most prominent method, accounting for about 90% of the total production. This process involves the reaction of methanol with carbon monoxide in the presence of a catalyst to produce Ethanoic Acid. On the other hand, Acetaldehyde oxidation is a less common method that involves the oxidation of acetaldehyde, a volatile and flammable compound, to produce Ethanoic Acid. Other methods of production are less common and are typically used in specific industrial applications.
Vinyl acetate monomer, Purified terephthalic acid, Acetate esters, Acetic anhydride, Medicial and other industrial solvent in the Global Ethanoic Acid Market:
Ethanoic Acid has a wide range of applications in various industries. It is a key ingredient in the production of Vinyl acetate monomer, a crucial component in the manufacture of polymers and resins. It is also used in the production of Purified terephthalic acid, a raw material used in the manufacture of polyester fiber, film, and plastic. Acetate esters, another product of Ethanoic Acid, are used as solvents in inks, paints, and coatings. Ethanoic Acid is also used in the production of Acetic anhydride, a reagent used in the manufacture of cellulose acetate. In the medical field, Ethanoic Acid is used as a solvent and a reagent in various pharmaceutical products.
Global Ethanoic Acid Market Outlook:
The global Ethanoic Acid market is dominated by a few key players, with the top five manufacturers holding about 30% of the market share. China is the largest market for Ethanoic Acid, accounting for about 50% of the global market. It is followed by North America and Asia (excluding China), each holding over 40% of the market share. The dominance of these regions in the Ethanoic Acid market can be attributed to their large-scale industrial activities and the high demand for Ethanoic Acid in various industries.
| Report Metric | Details |
| Report Name | Ethanoic Acid Market |
| Accounted market size in 2022 | US$ 4754 in million |
| Forecasted market size in 2029 | US$ 5990 million |
| CAGR | 3.3% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Celanese Corporation, Eastman, BP-Amoco, Japan Kyodo Sakusan, Jiangsu SOPO Chemical, Wujing Shanghai Chemical, Shandong Yankuang Chemical, Hualu-Hengsheng Chemical, Hebei Zhongxin Chemical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
