BANGALORE, India, Nov. 18, 2022 /PRNewswire/ — The Global Acetic Acid Market is Segmented by Type (Acetic Acid(36% to 38%), Glacial Acetic Acid(More than 98%), by Application (Vinyl Acetate Monomer, Purified Terephthalic Acid, Acetic Anhydride): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry Category.
Due to the COVID-19 pandemic, the global Acetic Acid market size is estimated to be worth USD 11640 Million in 2022 and is forecast to a adjusted size of USD 14560 Million by 2028 with a CAGR of 3.8% during the review period.
Major factors driving the growth of the Acetic Acid market:
The primary uses for acetic acid include the manufacturing of vinegar, acetic anhydride, vinegar, and vinyl acetate monomer. It is a crucial chemical reagent and industrial chemical used in the production of synthetic fabrics, films, and fibers. As a result of the rise Of the textile industry, the acetic acid market is expanding.
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TRENDS INFLUENCING THE GROWTH OF THE ACETIC ACID MARKET
Increasing Demand for Vinyl Acetate Monomer is expected to drive the growth of the Acetic Acid market. The intermediate vinyl acetate monomer (VAM) is used to create resins and polymers for textiles, films, paints, coatings, and other finished goods. Barrier resins for Plastic bottles use VAM. Due to its ability to adhere to a variety of substrates, including wood, paper, metals, and plastic films, it also has applications in the adhesive. Demand for vinyl acetate monomers is rising as a result of expansion in the aforementioned industries. The application of barrier resin in food packaging, gas tanks, and other engineering polymers is the VAM application that is expanding the fastest in the production of ethylene vinyl alcohol (EVOH).
The chemical reagents for textiles, photographic films, paints, and volatile organic esters are made from acetic acid, also known as ethanoic acid, vinyl acetate, and metal acetate. In the textile business, acetic acid is frequently used in the printing and drying of fabrics. Vinyl acetate monomer is used in the textile industry to create synthetic fibers. As a result, the demand for textiles …