Global Acetic Acid Market to Grow at 9.3% CAGR Due to Demand for Strong Adhesives: Transparency Market Research
By Business Wire News
By Business Wire News
A recent report released by Transparency Market Research estimates the global acetic acid market to grow at a CAGR of 9.3% during the period between 2012 and 2018. The report, titled “Acetic Acid Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018” projects the overall market to be valued at US$10.31 billion by 2018, a significant increase in its valuation from US$5.93 billion in 2011.
The report indicates that the strong outlook on adhesives demand coupled with growing demand for polyethylene terephthalate will push the growth of the global acetic acid market. However, volatile raw material prices will be a challenge for the market participants. The report identifies the development of TCX technology as a big opportunity for the market to grow during the forecast horizon.
In terms of application, the report segments the global acetic acid market into purified terephthalic acid, acetate esters, acetic anhydride, and vinyl acetate monomer. In 2011, vinyl acetate monomer was the largest application segment and held 30% of the market owing to its wide usage in sealants and adhesive industry. However, during the forecast period purified terephthalic acid is estimated to grow at the fastest rate at a CAGR of 5.4%.
Geographically, the global acetic acid market has been segmented into Europe, China, North America, Rest of Asia Pacific, and Rest of the World. Due to rapid industrialization, China led the overall market in 2011, accounting for 32% of the total consumption. During the forecast period, North America and Europe are expected to display slow growth.
The report profiles the key players in the global acetic acid market such as DuPont, BASF SE, and Sasol Ltd.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.