Glacial Acetic Acid Market Size (2024 - 2029)

The glacial acetic acid market is anticipated to experience growth over the forecast period, driven by increasing demand from sectors such as packaging and paints and coatings. Despite a temporary decline during the Covid-19 pandemic due to global industrial slowdowns and supply chain disruptions, the market has rebounded to pre-pandemic levels. The market's expansion is supported by rising disposable incomes and shifting lifestyle preferences in developing regions, although concerns over health hazards associated with glacial acetic acid may pose challenges. The Asia-Pacific region, particularly China and India, leads in market consumption.

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Market Size of Glacial Acetic Acid Industry

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Glacial Acetic Acid Market Summary
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

Glacial Acetic Acid Market 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 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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Rest of the World
South America
Middle-East and Africa
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Glacial Acetic Acid Market Size Summary

The glacial acetic acid market is poised for significant growth, driven by its increasing application across various industries such as packaging, paints, coatings, and pharmaceuticals. The recovery from the pandemic-induced demand slump has been robust, with the market rebounding to pre-pandemic levels. The demand for vinyl acetate monomer, a key derivative of glacial acetic acid, is particularly strong due to its extensive use in consumer goods, automotive, and construction sectors. This demand is further bolstered by the rising consumption of adhesives and sealants globally. Additionally, glacial acetic acid serves as a crucial raw material for producing purified terephthalic acid, which is extensively used in the packaging industry. Despite the health hazards associated with glacial acetic acid, the market is expected to benefit from growing disposable incomes and changing lifestyle preferences, especially in developing countries.

The Asia-Pacific region dominates the global glacial acetic acid market, with China, India, and Japan leading in consumption. The region's growth is fueled by the expanding packaging industry, particularly in China, where food packaging constitutes a significant portion of the market. The textile industry in India also plays a vital role, with the country being a major manufacturer and exporter of textiles and apparel. Glacial acetic acid's application as a flavoring agent in the food and beverage industry further supports its demand in Asia. The market is characterized by partial fragmentation, with key players like Celanese Corporation, LyondellBasell Industries Holdings BV, and INEOS actively contributing to its development. Recent initiatives, such as INEOS's plans to establish a large-scale acetic acid manufacturing facility in the United States, highlight the ongoing expansion and investment in the sector.

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Glacial Acetic Acid Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand for Vinyl Acetate Monomer

      2. 1.1.2 Increasing Consumption of Preservatives

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Detrimental Health Hazards

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Grade

      1. 2.1.1 Food

      2. 2.1.2 Industrial

      3. 2.1.3 Pharmaceutical

    2. 2.2 Application

      1. 2.2.1 Vinyl Acetate Monomer

      2. 2.2.2 Ester Production

      3. 2.2.3 Acetic Anhydride

      4. 2.2.4 Solvent

      5. 2.2.5 Food Additive

      6. 2.2.6 Textile

      7. 2.2.7 Other Applications

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 South America

        2. 2.3.4.2 Middle-East and Africa

Glacial Acetic Acid Market Size FAQs

The Glacial Acetic Acid Market is projected to register a CAGR of 3.85% during the forecast period (2024-2029)

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.

Glacial Acetic Acid Market Report Snapshots

Glacial Acetic Acid Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)