The global acetyls market is expected to be worth US$ 26,492.0 million in 2022, with a slow-paced CAGR of 5.1% over the forecast period. By 2032, the market is anticipated to be worth US$ 43,565.4 million. In recent years, a historical CAGR of 4.3% has been recorded.
Acetyls and acyls are organic functional group molecules with the chemical formula CH3CO. A methyl group is single-bonded to a carbonyl in the acetyl or acyl group. An acyl compound’s carbonyl center contains one unbonded electron that is used to make chemical bonds with alkyl groups. The IUPAC term for acyl is ethanoloyl. Acetic acid, acetylcholine, acetyl-CoA, acetylcysteine, acetaminophen, and acetylsalicylic acid all include the acetyl moiety. Acetylation is the chemical process by which an acetyl group is introduced into a molecule. Acyls are employed in histone and protein modification.
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The acetyl groups of acetic acid, vinyl acetate and acetic anhydride are used as intermediates in a wide range of applications such as solvents to adhesives and water-based paints to cellulose acetate. The other applications of acetyls include pain-relieving pharmaceuticals, modified starches, emulsifiers, liquid crystal polymers and dyestuffs. The global acetyl market is projected to register above average CAGR in terms of value during the forecast period from 2016-2026. The global acetyl market is expected to be dominated by acetic acid product segment.
Acetyls Market: Region wise Overview
Geographically, global Acetyls market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA).Owing to the presence of large number of chemical industries in APEJ and Western Europe, the regions are expected to collectively hold a large share in the global market in terms of value during the forecast period. Also, the presence of several universities collaborations coupled with opportunities in scientific research of acetyls in the North America and Europe is expected to have positive impact on the regional markets. China is a major producer and consumer of acetic acid, and its production capacity is forecast to increase significantly through 2026. China is also the major exporter of acetic acid worldwide. New capacity installations in the MEA countries is expected to propel acetyl market growth in the region.
Acetyls Market: Key Players
The key players in global acetyls market are BP p.l.c., Celanese Corporation, The Dow Chemical Company, Eastman Chemical Company, Wacker Chemie AG, LyondellBasell Industries Holdings B.V. to name a few.
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Acetyls Market: Segmentation
The global acetyls market is classified on the basis of product type, end user industry and region.
Based on product type, the global acetyls market is segmented into the following:
- Acetic Acid
- Acetic Anhydride
- Vinyl Acetate
- Ethylene Acetate
- Other Acetyls
Based on end-user industry, the global acetyls market is segmented into the following:
- Food & Beverages
- Oil & Gas
- Pharmaceutical
- Paints, Inks, Waxes & Coatings
- Furniture
- Other End User Industries
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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