The market for glacial acetic acid is anticipated to expand significantly between 2019 and 2029, with a CAGR of about 6.5%. In addition, glacial acetic acid is used to make terephthalic acid, aniline, synthetic camphor, and propylene terephthalate. The market for glacial acetic acid is supported by a wide range of end-use industries, including food and drink, inks, coatings, paints, vinegar, and pharmaceuticals.
Glacial acetic acid, also known as anhydrous acetic acid, is a highly concentrated form of acetic acid. It gets its name from its appearance at room temperature, where it solidifies and resembles a colorless, transparent crystal-like structure, giving the impression of glacial ice. This compound is derived from the fermentation of ethanol or acetaldehyde and is widely used in various industries and applications.
Glacial acetic acid is a versatile chemical with numerous uses. It serves as a vital component in the production of vinyl acetate monomer, which is utilized in the manufacturing of adhesives, paints, and coatings. It is also a crucial ingredient in the synthesis of cellulose acetate, a material utilized in the production of films, textiles, and cigarette filters.
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Key Takeaways of Glacial Acetic Acid Market Study
- Acetic anhydride production necessitates the demand for glacial acetic acid through the forecast period.
- Raw materials of glacial acetic acid have relatively low price point thereby supplementing the market growth.
- Variegated household applications are bolstering the market growth.
- Gains in glacial acetic acid market remain concentrated in Asia Pacific.
Asia Pacific Acquires 69.8% Share in Glacial Acetic Acid Market
Rising economic wealth in emerging Asian economies is bolstering the market growth in the region. Shifting consumer preferences and lifestyle factors are shaping up the regional glacial acetic acid market as well. Rising infrastructural activities accentuate the demand for glacial acetic acid. On that premise, Asia Pacific glacial acetic acid market constitutes 69.8% revenue share in the market.
Further, established end-use industries in developed economies such as United States are driving the market growth in North America. The regional market is projected to experience prolific growth during the forecast period. The predominant industry driving the consumption of glacial acetic acid in the region is oil and gas exploration industry.
Industry leaders Rely on Multipronged Strategies for Competitive Edge
Some of the prominent market players featured in this FMI report include, but are not limited to, Hawkins, Inc., MP Biomedicals, BASF SE, OM Group, Inc., Eastman Chemical Company, Celanese Corporation, Innova Corporate (India), Spectrum Chemical Mfg. Corp., British Petroleum, China Great Wall Energy Co, Sinopec Great Wall Energy and Chemical, and Reliance.
Major players are scrutinizing their sales execution strategies and working on efficient pricing to foster their market position. Top performers in the global glacial acetic acid market are focused on gaining attractive revenues through innovation and sustainable transition.
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Glacial Acetic Acid Market: Segmentation
By Grade
- Food grade
- Industrial grade
- Pharmaceutical grade
By End-use Application
- Food additive
- Solvent
- Photographic Chemical
- Paints & Coating
- Textile
- Cosmetics
- Pharmaceutical Intermediate
By Region
- North America
- Latin America
- Europe
- MEA
- Asia Pacific
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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