ACETIC ACID MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Acetic Acid Market Analysis:

The anticipated expansion of the Global Acetic Acid Market is expected to be substantial, with a projected increase from 17.88 million tons in 2023 to 22.44 million tons by 2028, representing a Compound Annual Growth Rate (CAGR) of 4.65% during the forecast period (2023–2028).

The COVID-19 pandemic had a detrimental impact on the market in 2020, due to the various restrictions imposed by governments worldwide. However, the industry has been recovering well since the lifting of restrictions. The market has made significant strides in the 2021–22 period, driven by increased consumption from various end-user industries, and is expected to continue to do so.

In the short term, the growth of the acetic acid market is being propelled by the rising demand for vinyl acetate monomer (VAM), the textile and packaging industries, and the growing use of ester solvents in the paints and coatings industry. Conversely, environmental concerns regarding the harmful effects of acetic acid are impeding the market’s growth.

The development of new separation technologies to enhance the production efficiency of acetic acid is expected to create opportunities for the market during the forecast period. The Asia-Pacific region is expected to dominate the market and register the highest CAGR during the forecast period.

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