Acetic Acid Market Poised to Reach 16,339.67 Kilotons By 2018 – Report By MarketsandMarkets
Acetic acid market is expected to reach at an estimated volume of 16,339.67 kilotons by 2018. This report covers the acetic acid market by various regions and key countries in each region. http://www.marketsandmarkets.com/Market-Reports/acetic-acid-market-187403448.html
(PRWEB) June 30, 2014
The report, "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," defines and segments the global acetic acid & its derivatives market with analysis and forecasting of the global volume and value.
Browse 94 market data tables, 34 figures spread through 183 slides and in-depth TOC on "Acetic Acid Market, Geography – Trends & Forecasts to 2018."
Asia-Pacific – The Biggest Market of Acetic Acid
The Asia-Pacific region is the most promising chemical market and is expected to be the same in the near future. Asia-Pacific is the world's largest market of acetic acid, which consumed more than half of the total global demand in 2012, and also for most of its applications that include vinyl acetate monomer, purified terephthalic acid, acetic anhydride, and ester solvents – ethyl acetate & butyl acetate.
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The demand for acetic acid in the region is anticipated to grow at a CAGR of about 5.01% from 2013 to 2018. It is estimated that China and Taiwan are the biggest consumers of acetic acid in the region, followed by Japan in 2012. India is expected to be the fastest growing market of acetic acid.
The continuous rise in the production of end products for use within the region and for exports derives a huge demand for chemicals. A few of the reasons for the high growth in this region are growing population, vast economies–developed as well as developing, and favorable investment policies and government initiatives to promote the industrial growth.
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Vinyl Acetate Monomer (VAM) – the biggest and Ester solvents (ethyl acetate & butyl acetate) – the fastest growing acetic acid derivative markets
Acetic acid is the main feedstock to manufacture vinyl acetate monomer, which was at the forefront in terms of volumetric consumption in 2012. It is mainly driven by the growing demand of polyvinyl acetates and vinyl alcohols, which in turn are accelerating the demand for acetic acid.
The demand from the PTA manufacturing segment is estimated to grow at a very high pace, next only to ester solvents, which is the strongest growth segment of acetic acid. The growing textile and packaging industry is the key driver behind strong growth of PTA; while budding coatings consumption is pushing the demand of ester solvents at a notable pace.
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