Glacial Acetic Acid Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.85 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Glacial Acetic Acid Market Analysis
The Glacial Acetic Acid Market size is expected to grow from 1,723.22 kilotons in 2023 to 2,081.48 kilotons by 2028, at a CAGR of 3.85% during the forecast period.
During the Covid-19 pandemic in 2020, the demand for glacial acetic acid plummeted due to decline in industrial operations globally. This decline in demand further intensified because of disruptions in the raw material supply chain of various end users of glacial acetic acid. However, as the restrictions eased, the demand for glacial acetic acid recovered and quickly grew back to pre pandemic levels.
- In the medium term, the growing demand for vinyl acetate monomer and purified terephthalic acid (PTA) from various end-user industries like packaging, paints and coatings and others is expected to be the major factors driving the market studied.
- However, detrimental health hazards of glacial acetic acid is likely to hinder the growth of the studied market.
- Growing disposable income coupled with changing lifestyle preferences espcially in devloping countries are expected to create growth oppututnies.
- Asia-Pacific dominated the market across the world, with the largest consumption in countries such as China and India.
Glacial Acetic Acid Market Trends
Vinyl Acetate Monomer to Dominate the Market
- Glacial acetic acid is witnessing increased consumption in various applications, such as preservatives in food and beverage, pharmaceuticals, paints, coatings, inks, and vinegar. It is also used to produce terephthalic acid, synthetic camphor, aniline, propylene terephthalate, vinyl acetate monomer, etc.
- The vinyl acetate monomer segment is the dominating segment, owing to its widespread consumption in various end-user industries, such as consumer goods, packaging, automotive, and construction.
- Vinyl acetate monomer is used in adhesives and sealant industries, and it can be commercially produced using glacial acetic acid. Demand for vinyl acetate monomer is witnessing a substantial rise, owing to the rising consumption of adhesives and sealants worldwide.
- Moreover, vinyl acetate monomer as an intermediate is used to manufacture several industrial polymers and resins to produce adhesives, coatings, paints, films, and textiles.
- In addition, glacial acetic acid is also considered a major raw material for producing purified terephthalic acid (PTA), which further finds application in the packaging industry. The growing demand for packaging worldwide is anticipated to drive the demand for the market studied.
- Therefore, all the factors above are expected to drive the glacial acetic acid market during the forecast period.
Asia-Pacific to Dominate the Market
- The Asia-Pacific region is expected to dominate the global glacial acetic acid market, with China, India, and Japan accounting for the largest consumption in this particular region.
- Glacial acetic acid is used as a buffering agent in dyeing cloth with color, and it is used to print various designs on clothes in the textile industry. In addition, the production of acetic anhydride also seeks the use of glacial acetic acid as a condensing agent, which is further used in synthetic textiles and photographic films.
- Glacial acetic acid derivatives are increasingly used in adhesives and paper manufacturing applications for end-use in the packaging industry. The Chinese packaging industry grew rapidly and consistently in recent years, owing to the expanding economy and rising middle class with greater purchasing power.
- Food packaging is a major player in the packaging industry, accounting for roughly 60% of the total market share in China. According to Interpak, in China, in the foodstuff packaging category, total packaging is expected to reach 447 billion units in 2023, indicating an increased demand for plastic injection molding from the packaging industry.
- Vinyl Acetate Monomer and its derivatives are among the key applications of glacial acetic acid in the region, and these are used in the production of synthetic textiles. In India, the textile industry is one of the most vital sectors of the economy, contributing over 2% to the country's GDP. India is the world's second-largest manufacturer and exporter of textiles and apparel after China. As per the Ministry of Textiles in India, the textile industry is expected to reach USD 223 billion by 2023.
- Furthermore, glacial acetic acid is a flavoring agent in the food and beverage industry. The increasing demand for special foods and beverages is expected to propel the glacial acetic acid demand in the Asian region over the forecast period.
- Hence, all such market trends are expected to drive the region's glacial acetic acid market during the forecast period.
Glacial Acetic Acid Industry Overview
The global glacial acetic acid market is partially fragmented in nature. Some major market players include (in no particular order) Celanese Corporation, LyondellBasell Industries Holdings BV, INEOS, Eastman Chemical Company, and Jiangsu Thorpe (Group) Co. Ltd., among others.
Glacial Acetic Acid Market Leaders
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Celanese Corporation
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Eastman Chemical Company
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INEOS
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Jiangsu Thorpe (Group) Co., Ltd.
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LyondellBasell Industries Holdings B.V.
*Disclaimer: Major Players sorted in no particular order
Glacial Acetic Acid Market News
- June 2022: INEOS is planning to build a world-scale acetic acid manufacturing facility on the gulf coast of the United States. The company started a feasibility study and is currently reviewing several locations for the facility.
Glacial Acetic Acid Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand for Vinyl Acetate Monomer
- 4.1.2 Increasing Consumption of Preservatives
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Detrimental Health Hazards
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Grade
- 5.1.1 Food
- 5.1.2 Industrial
- 5.1.3 Pharmaceutical
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5.2 Application
- 5.2.1 Vinyl Acetate Monomer
- 5.2.2 Ester Production
- 5.2.3 Acetic Anhydride
- 5.2.4 Solvent
- 5.2.5 Food Additive
- 5.2.6 Textile
- 5.2.7 Other Applications
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 Rest of the World
- 5.3.4.1 South America
- 5.3.4.2 Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Akshar Enterprises
- 6.4.2 ASHOK ALCO-CHEM LIMITED
- 6.4.3 Celanese Corporation
- 6.4.4 Daicel Corporation
- 6.4.5 Eastman Chemical Company
- 6.4.6 GNFC
- 6.4.7 INEOS
- 6.4.8 ITW Reagents Division
- 6.4.9 Jiangsu Thorpe (Group) Co. Ltd
- 6.4.10 KH Chemicals
- 6.4.11 LyondellBasell Industries Holdings BV
- 6.4.12 PCCA
- 6.4.13 Reliance Industries Limited
- 6.4.14 SABIC
- 6.4.15 Shanghai Wujing Chemical Co. Ltd
- 6.4.16 Merck KGaA
- 6.4.17 Spectrum Chemical Manufacturing Corp.
- 6.4.18 Tan Hung Phu Chemical
- 6.4.19 Thana Acid and Chemical Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 R&D in Catalysis of Carbon Aerogels Using Glacial Acetic Acid
- 7.2 Other Opportunities
Glacial Acetic Acid Industry Segmentation
Acetic acid that contains a very low amount of water (less than 1%) is called anhydrous (water-free) acetic acid or glacial acetic acid. It is called glacial because it solidifies into solid acetic acid crystals at room temperature (16.7 °C). The glacial acetic acid market is segmented by grade, application, and geography. The market is segmented by grade into food, industrial, and pharmaceutical. The market is segmented by application into vinyl acetate monomer, ester production, acetic anhydride, solvent, food additive, textile, and other applications. The report also covers the market size and forecasts for the Glacial Acetic Acid Market in 11 countries across major regions. The market sizing and forecasts for each segment are based on volume (Kilotons).
| Grade | Food | |
| Industrial | ||
| Pharmaceutical | ||
| Application | Vinyl Acetate Monomer | |
| Ester Production | ||
| Acetic Anhydride | ||
| Solvent | ||
| Food Additive | ||
| Textile | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | Rest of the World | South America |
| Middle-East and Africa |
Glacial Acetic Acid Market Research FAQs
What is the current Glacial Acetic Acid Market size?
The Glacial Acetic Acid Market is projected to register a CAGR of 3.85% during the forecast period (2024-2029)
Who are the key players in Glacial Acetic Acid Market?
Celanese Corporation, Eastman Chemical Company, INEOS, Jiangsu Thorpe (Group) Co., Ltd. and LyondellBasell Industries Holdings B.V. are the major companies operating in the Glacial Acetic Acid Market.
Which is the fastest growing region in Glacial Acetic Acid Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Glacial Acetic Acid Market?
In 2024, the Asia Pacific accounts for the largest market share in Glacial Acetic Acid Market.
What years does this Glacial Acetic Acid Market cover?
The report covers the Glacial Acetic Acid Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Glacial Acetic Acid Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Glacial Acetic Acid Industry Report
Statistics for the 2024 Glacial Acetic Acid market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Glacial Acetic Acid analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
