Acetyls Market is projected to be worth USD 44.24 Billion by 2030, registering a CAGR of 6% during the forecast period (2021 - 2030).
Acetyls Market Overview
Acetyls Market is projected to be worth USD 44.24 Billion by 2030, registering a CAGR of 6% during the forecast period (2021 - 2030). the market for acetyl is expected to grow owing to rising uses of acetyls in various end-use industry applications, like pharmaceutical, oil and gas, and furniture gathered with strong research and developments in these industries. The global market for acetyls reports provide a holistic evaluation of the market and the reports offer a comprehensive analysis of main segments, trends, restraints, drivers, competitive landscape, and elements that are playing a substantial role in the market. The acyls or acetyls are functional groups of the organic compounds with the chemical formula CH3CO and these are extensively used in the manufacturing of neurological drugs due to their exhibit exceptional ability to cross the selective permeable blood-brain barrier, as a result, it allows the drug to reach the brain quickly, enabling a strong drug effect, and this capacity of the acetyls makes them useable for the patients suffering from brain stroke.
Global Acetyls Market, by Application (%)
Source: MRFR Analysis
The global acetyls market has been segmented into five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The market in Asia-Pacific dominated the global acetyls market in 2017 on account of the increasing demand for product in the food & beverage and pharmaceuticals application. Furthermore, the rising geriatric population coupled with the affordability of generic drugs is expected to fuel the demand in the region. Moreover, the growth of paints & coatings industries in countries such as India, China, Thailand, and Malaysia coupled with the high demand for paints & coatings in complimentary end-use industries such as automotive, construction, electronics, ship-building, and aerospace is projected to drive the market growth.
The market in Europe and North America is expected to witness significant growth during the forecast period, on account of the high demand for acetyls in paints & coatings, food & beverage, and pharmaceuticals industries.
The growth in Middle East & Africa region can be attributed to the increased oil & gas exploration activities in countries such as GCC, UAE, and others.
The global acetyls market has been segmented on the basis of product type, application, and region.
Based on product type, the market has been segmented into acetic acid, acetic anhydride, vinyl acetate, ethylene acetate, and others.
By application, the market has been segmented into food & beverages, pharmaceuticals, oil & gas, paints, inks, & coatings, waxes, furniture, and others.
Some of the manufacturers operating in the global acetyls market are BP p.l.c. (Europe), Celanese Corporation (US), Daicel Corporation (Japan), Eastman Chemical Company (US), HELM AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Wacker Chemie AG (Germany), DowDuPont (US), Kanoria Chemicals & Industries Ltd. (India), Laxmi Organic Industries Ltd. (India), and Sipchem (Saudi Arabia).Recent Development
Acetyl also increases the effectiveness of the drug, which makes it more popular in the pharmaceutical division, and the growing utilization of acetyls in the development of drugs owing to its ability to overcome the permeable blood-brain carries, that is response enhances the effectiveness of drugs is the main element fueling the growth of the acetyls market, and in addition to that, the growing generic population, and prevalence of diseases, changing lifestyle of people are some other elements propelling the market growth. However, the growing demand for acetyls in the pharmaceuticals, food for people, and beverage industries impose a positive impact on the market growth of acetyls. Covid-19 has decreased the market growth.
|Market Size||2030: Significant value|
|CAGR||2022–2030: Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BP p.l.c. (Europe), Celanese Corporation (US), Daicel Corporation (Japan), Eastman Chemical Company (US), HELM AG (Germany), LyondellBasell Industries Holdings B.V. (Netherlands), Wacker Chemie AG (Germany), DowDuPont (US), Kanoria Chemicals & Industries Ltd. (India), Laxmi Organic Industries Ltd. (India), and Sipchem (Saudi Arabia).|
|Key Market Opportunities||The rising disposable income and the high working population has led to an increased demand for packaged food, which is expected to fuel the demand.|
|Key Market Drivers||The major driver of the global acetyl market is the increasing use of acetyls in enhanced drug delivery.|
Asia Pacific will dominate the acetyls market.
Some of the major applications of acetyls include furniture, waxes, inks and coatings, food and beverages, and others.
Increasing use in pharmaceuticals and food & beverage industry are boosting market growth.
High VOC content may limit market growth.
Different strategies incorporated by industry players to create a foothold in the acetyls market include mergers and acquisitions, R&D, product launches, and others.