|By PR Newswire||
|October 3, 2013 05:31 AM EDT||
ALBANY, New York, October 3, 2013 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Acetic Acid Market for VAM, PTA, Acetate Esters, Acetic Anhydride and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018", the global acetic acid market was valued at USD 5.93 billion in 2011 and is expected to reach USD 10.31 billion by 2018, growing at a CAGR of 9.3% over the forecast period from 2012 to 2018. In terms of volume, global demand was 9,612.5 kilo tons in 2011 and is expected to grow at a CAGR of 4.8% over the forecast period from 2012 to 2018.
Browse the full report with Complete TOC at http://www.transparencymarketresearch.com/acetic-acid-market.html
Vinyl acetate monomer (VAM) and purified terephthalic acid (PTA), which are major applications of acetic acid together accounted for over 55% of the global consumption in 2011. Growing demand of both the applications from the end-use industries such as adhesives, sealants and packaging has been fueling market growth. However, volatile raw material prices may a pose a challenge to the industry participants in the coming future.
Vinyl acetate monomer (VAM) dominated market demand and accounted for 32.5% of the global acetic acid consumption in 2011. VAM demand is expected to remain strong over the next five years owing to growth of global adhesives and sealants industry. PTA followed VAM in terms of consumption and is expected to be fastest growing market at an estimated CAGR of 5.4% over the forecast period from 2012 to 2018. PTA application is expected to show substantial growth on the account of growing demand from polyethylene terephthalate (PET) and other end-uses. Other applications acetate esters and acetic anhydride together accounted for 27.3% of the global consumption in 2011.
China emerged as the leading consumer of acetic acid with 36.2% of the global demand in 2011. Strong economic growth coupled with rapid industrialization is expected to boost the acetic acid market in the region. In addition, China is also expected to be the fastest growing market at an estimated CAGR of 5.4%, from 2012 to 2018. North America and Europe followed the Asian market and are expected to experience moderate growth due to saturated demand from end-use industries.
The global acetic acid market is highly concentrated with the top four market participants accounting for over 60% of the global market in 2011. Key participants in the market include Cleanse Corporation, British Petroleum PLC., JinagsuSopo, Eastman Chemical, LyondellBasell, SABIC and Yancon Cathay Chemicals.
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The report segments the global acetic acid market as,
Acetic acid Market: Application Analysis,
- Vinyl acetate monomer (VAM)
- Purified terephthalic acid (PTA)
- Acetate esters
- Acetic anhydride
- Other (pharmaceuticals, food, etc)
Acetic acid Market: Regional Analysis,
- North America
- Rest of Asia Pacific
- Rest of the World
Browse all Chemical & Materials Market Research Reports @ http://www.transparencymarketresearch.com/chemical-market-reports-2.html
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research