ID: MRFR/CnM/7302-CR | 195 Pages | Author: Priya Nagrale | February 2020
High Purity Acetic Acid Market Overview
High-Purity Acetic Acid Market was valued at USD 8,826.0 Million in 2020 and is projected to reach USD 12,471.1 Million by the end of 2027, at a CAGR of 5.16%. High Purity Acetic acid is one of the most important solvents in the electronic industry. It is considered one of the most indispensable microelectronic chemicals. The High-Purity acetic acid industry chain includes consumers, raw material suppliers, and manufacturing departments. The growing use of high-purity acetic acid as one of its constituents is called vinyl acetate monomer, which is further used in producing paints and coatings. The growing demand for paints and coatings in the automotive, construction, and marine industries is expected to be relatively high, contributing to market growth.
In various developed economies, food laws play a major role in promoting the high usage of the bio-based process industry, which is an essential factor for Vinegar production. High-purity acetic acid is a natural preservative in vegetable pickling and is used as a preserver due to an antimicrobial agent. The production of chemical compounds such as Vinyl acetate monomer is extracted from undiluted acetic acid.
The rising demand for antimicrobial agents in non-alcoholic beverages, baked goods, and household and commercial food preservatives has become the fastest-growing segment and propels the market share.
The global players have adopted several efforts for expansion, mergers & acquisitions, joint ventures, agreements, and partnerships to maintain their market dominance and increase their presence. However, now considering the healthy lifestyles, several changes in the market patterns have been initiated. Now, bio-based raw materials are also used to produce high-purity acetic acid. The major players are investigating Research and Development to develop bio-based and alternative raw materials for the production of Acetic Acid.
The High Purity Acetic Acid Market suggests that the market competition between dealers through a regional subdivision in terms of revenue generation, business prospects, and demand-supply comparison is taking place and will continue to take place shortly.
|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||Application, Type and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Eastman Chemical Company(US), BASF (Germany), FINAR LIMITED (India), SHIJIAZHUANG XINLONGWEI CHEMICAL CO., LTD (China), Qingdao Hisea Chem Co.Ltd (China), Saanvi Corp (India), Shandong Debang (China), Jianghua Microelectronics, Dongyue Group Ltd (China), Jinmao Group (China), Tokyo Chemical Industry Co., Ltd (Japan), Mitsubishi Chemical Corporation (Japan), Merck KGaA (Germany), Sipchem (Saudi Arabia), BP p.l.c. (UK), Celanese Corporation (US), LyondellBasell Industries Holdings B.V. (UK), Jubilant Life Sciences (India)|
|Key Market Opportunities||The increased demand for paints and coatings in the automotive, construction, and marine industries is expected to positively impact market growth.|
|Key Market Drivers||
It is estimated to expand at a CAGR of 5.16% by the end of 2025.
Global high-purity acetic acid market is estimated hold a market value of USD 12,471.1 million by the end of 2025.
Global high-purity acetic acid market can be segmented on the basis of application, type, and region.
On the basis of type, the global high-purity acetic acid market can be segmented into 99.9%, 99.8%, 99.5%, and others.
Mitsubishi Chemical Corporation (Japan), Saanvi Corp (India), Qingdao Hisea Chem Co.Ltd (China), Tokyo Chemical Industry Co., Ltd (Japan), and a few more are some of the renowned names of the global high-purity acetic acid market.
Is estimated to hold a market value of USD 12,471.1 million by the end of 2025.
The global High-Purity Acetic Acid Market is segmented on the basis of application, type, and region.
On the basis of type, It is segmented into 99.9%, 99.8%, 99.5%, and others.
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