Ethanoic Acid Market by Application (Acetic anhydride, Vinyl acetate monomer (VAM), by End Use Industry (Paints, Coatings, Pharmaceuticals, Food, Beverages), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2024-2032
The Ethanoic Acid Market size was valued at USD 21.8 USD Billion in 2023 and is projected to reach USD 31.50 USD Billion by 2032, exhibiting a CAGR of 5.4 % during the forecast period. Acetic acid also called ethanoic acid, is an organic acid that is defined chemically by the following formula: CH₃COOH. It is a non-commercial liquid that has a strong smelling and sour-tasting odor. Ethanoic acid is in many forms but two of the most frequently used forms are; glacial ethanoic acid which is pure ethanoic acid and diluted ethanoic acid solutions. Thus, the main components of ethanoic acid would be: the fact that it is an acid, it can form esters, as well as it is a solvent. Another common use is in the manufacturing of synthetic fibers and fabrics where it is also used as vinegar and in the production of industrial chemicals. Also, ethanoic acid is extensively involved in the synthesis of plastics, and pharmaceuticals and functions as a chemical reagent in all laboratories. Because of its ability to blend in every phase of industry and consumer products, it is an indispensable item.
The increasing use of ethanoic acid in the production of acetic anhydride, vinyl acetate monomer (VAM), and other chemicals is driving the market's growth. The rising demand for these chemicals in various applications, such as paints and coatings, adhesives, and pharmaceuticals, is expected to sustain the market's growth. Additionally, the increasing adoption of ethanoic acid as a solvent in the food and beverage industry is further fueling market expansion.
Dominating Region: Asia-Pacific Dominating Segment: Acetic Anhydride
Reasons for Dominance:
Asia-Pacific Region:
Acetic Anhydride Segment:
Application:
End Use Industry:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.4% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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