Acetic Acid Market size worth $ 8.48 Billion, Globally, by 2028 at 2.62% CAGR: Verified Market Research®
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Browse in-depth TOC on "Acetic Acid Market"
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Global Acetic Acid Market Overview
The rising demand for acetic acid in plastics, rubber, renovation, pharma, paint, and other industries is one of the driving factors in the growth of the global Acetic Acid Market. Additionally, the increased supply of Vinyl Acetate Monomer (VAM) and Purified Terephthalic Acid (PTA) in the textile and packaging industries is boosting the Acetic Acid Market. Moreover, the medical benefits provided by acetic acid in the form of vinegar, including cholesterol and blood pressure maintenance, as well as diabetes control, are expected to boost the market.
In addition, polyethylene terephthalate (PET) bottles are becoming extremely prevalent in the medical and consumer products industries. Because PET bottles are made from purified terephthalic acid (PTA), which is derived from acetic acid, rising demand is driving the market growth. Growing infrastructure investments around the world are expected to drive growth for coatings and sealants, thus also positively supporting the growth of the Acetic Acid Market during the forecast period. Furthermore, the rising use of acetic acid in the production of terephthalic acid is expected to aid market growth. Terephthalic acid is a key part of the production of polyester resins, which are widely used in polyester films, PET resins, as well as polyester fibers leading to the overall growth of the market.
Key Developments
Key Players
The major players in the market are Daicel Corporation, BP PLC, Celanese Corporation, LyondellBasell Industries N.V., Eastman Chemical Company, Shandong Hualu-Hengsheng Chemical Co. Ltd., Shanghai Huayi (Group) Company, Kingboard Chemical Holdings Ltd, Yankuang Cathay Coal Chemicals Co. Ltd., and Jiangsu Sopo (Group) Co. Ltd.
Verified Market Research has segmented the Global Acetic Acid Market On the basis of Application, End-User, and Geography.
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