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 an important solvent in the electronic industry. Also, it is one of the indispensable microelectronic chemicals. The industry chain of the High-Purity Acetic Acid including consumers, leading raw material suppliers of the manufacturing department are discussed here.
The historical and future analysis is on the basis of the data the volume and value at the global, regional and company levels have been discussed.
The prime factor driving the market growth is the growing use of high-purity acetic acid as vinyl acetate monomer (VAM), which is further used in the production of paints and coatings. Additionally, the growing demand for paints and coatings in the automotive, construction, and marine industries are expected to positively impact the market growth.
Before the lockdown and pandemic hit the manufacturing industries, the global Metal Carboxylates Market was gaining a lot of momentum. After the first lockdown wave, there was a disbalance in the market and the manufacturing industries were also impacted. The outbreak of the COVID 19 global pandemic is also negatively influencing the global FDI inflows overall. The most vulnerable areas of service owing to the adverse effects of coronavirus are chemicals, aircraft, automobiles, electronics, and other many sectors.
The Covid 19 has both short long-term impacts that lead to the crisis on the industry chain, especially on the market channels. The volume value and the prices of the market have dipped during the pandemic. The main restraints were that the consumer is not active in the market and the production has been hampered and that too made it a severity at a global level and impacted the distributors and manufacturers. Several small-scale industries have landed during this time and have given a boost to the demands as well and now it is developing more amongst the local regions as well.
For the High-Purity Acetic Acid Market, if we study about Type and Application the study provides the ales and revenue during the historic and forecasted period of 2015 to 2026. Understanding the pattern helped in identifying the different factors that aid the market growth. The major factor that leads to the growth of the market is vinyl acetate monomer (VAM) which is further used in the production of paints and coatings. In the automotive, construction, and marine industries it is expected to have a positive impact on the market growth as the paints and coating rangers have increased.
In various developed economies, food laws promoted the high usage of the bio-based process and it is an essential factor for the production of Vinegar. High-purity acetic acid plays a major role as a natural preservative in vegetable pickling and is preserved as an antimicrobial agent. The production of chemical compounds such as VAM is done by Undiluted acetic acid. The growing usage of glacial acetic acid as an acidity regulator in the food & beverage industry is likely to drive market growth in the past times and will grow in the said forecast.
● The high demand for the product in the pharma industry across the globe.
● The Increased application in the textile and apparel industry.
● The growing use of high-purity acetic acid in the food and beverage industry.
● Increased use in chemical synthesis, especially for polymers and resin.
The increased demand for paints and coatings in the automotive, construction, and marine industries is expected to positively impact market growth. The rapid adoption of acetic acid to produce etching solutions for semiconductor chips and for various electronic devices are projected to create many growth opportunities for market players during the assessment period.
The fluctuating prices of the raw material are the restraints to provide the maximum profits in the market share.
The price of high-purity acetic acid in the US and Europe due to lesser availability of methanol. Around 70% of the acetic acid produced by methanol carbonylation includes methanol and carbon monoxide.
The analysis on the basis of type and application segment has helped in analyzing the volume and value of the Acetic Acid market. Also, the High Purity Electronic Grade Acetic Acid market is split by Type and by Application. It has provided the targeted growth in the forecast period.By Application
- Food Ingredient & Supplement
- Semiconductor Chips
- Paints Coating, and Inks
- 99.9% Acetic Acid
- 99.8% Acetic Acid
- 99.5% Acetic Acid
- Other Grade
Regional Analysis:The High Purity Acetic Acid market is analyzed and market size information is provided by many different countries. The key regions covered in the High Purity Acetic Acid market report are:
- North America
- Latin America
- Middle East and Africa
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)
There are various key manufacturers of the market. That helped for global revenues and the strategies and collaborations that players are focusing on combat competition in the market. This gave a significant microscopic look at the market. Thus, the global price of manufacturers and sales by manufacturers during the forecast period of 2015 to 2025 is likely to establish more market share in the forecast period.The major players in the global High Purity Acetic Acid market are listed below as per the regions:
- 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)
- By type, the segments mentioned and out of all 99.8% have accounted for the largest share in the market owing to the use of various manufactured for synthesized fiber, medicines, pesticides, and dyes.
- By application, out of the segments The paints, coatings, and inks accounted for the largest market share in 2018 and are expected to grow up to 5.91% during the forecast period 2019-2025. Nowadays, the rising demand for antimicrobial agents in ice-creams, non-alcoholic beverages, and baked goods has become the fastest-growing segment and propelling the market share.
- Various strategies such as expansion, mergers & acquisitions, joint ventures, agreements, and partnerships have been adopted by the players operating in the global high-purity acetic acid market to maintain their market dominance and increase the presence. However, now considering the healthy lifestyles and the changes in the market patterns the bio-based raw materials are been used for the production of high-purity acetic acid. The major players and the departments are highly investigating in R&D for the development of bio-based and alternative raw materials used in the production of Acetic Acid.
This complete report has the methodology of organizing, collecting, and analyzing data to know the market trend of the High-Purity Acetic Acid growth. The investment structure and future analysis of the High Purity Acetic Acid Market overall provide a rise in the growth and production in the coming future. The consumers and manufacturers are developing new alternations in their region to produce the maximum quantities and maintain the quality as well.
There is a relevant rise in the figures at which the High Purity Acetic Acid Market was valued in the base year and estimated to project the revenue in the forecasted period. The High Purity Acetic Acid Market reports that the market competition between vendors through regional segmentation of markets in terms of revenue generation potential, business opportunities, demand-supply comparison taking place in the future. For every individual market player, the High Purity Acetic Acid Market landscape and leading manufacturers offer competitive landscape and market development status.
2027: USD 12,471.1 Million
Value (USD Million)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Application, Type and Region
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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
The high demand for the product in the pharma industry across the globe. The Increased application in the textile and apparel industry. The growing use of high-purity acetic acid in the food and beverage industry. Increased use in chemical synthesis, especially for polymers and resin.
Frequently Asked Questions (FAQ) :
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.