Prismane

Acetic Acid Market and Demand Analysis, By Types, By Applications[VAM, PTA, Acetic Anhydride, Ethyl Acetate, Butyl Acetate, Monochloroacetic acid, Others] & Forecast Analysis, 2034

Acetic Acid Market

The global Acetic Acid market is projected to cross USD 23 billion by 2032, up from the current market size of USD 16.8 billion in 2023, registering a CAGR of 2.8% from 2024 to 2036. Acetic acid is mainly used as an intermediate in the production of Vinyl acetate monomer and Purified Terephthalic Acid. The upcoming new capacity of Vinyl acetate monomer and Purified Terephthalic Acid will further drive the demand of Acetic acid in the forecast period. 

Acetic Acid Production Process
Acetic acid is a colourless organic compound which is also known as ethanoic acid, vinegar acid, and methane carboxylic acid. More than 70% of Acetic acid is produced by the carbonylation of methanol.  Vinyl acetate monomer (VAM) is the largest consumer of acetic acid followed by PTA (Purified Terephthalic Acid), which is used as a co-monomer for the production of PET (Polyethylene Terephthalate) - one of the biggest and fastest growing thermoplastics market. Acetate Esters and Acetic Anhydride are the third and fourth largest consumers of Acetic Acid respectively.

Global Acetic Acid Demand Supply Analysis, 2016-2036 (Kilo Tons)

Global Acetic Acid Demand Supply Analysis, 2016-2036 (Kilo Tons)
Source: Secondary & Primary Research and Prismane Consulting estimates

Acetic Acid Capacity

The total global Acetic acid capacity has been estimated to be over 20,000 kilo tons in 2023 with Asia Pacific accounting for more than 75% of the total installed capacity, followed by North America, Europe and Middle East & Africa together accounting for remaining share of the global acetic acid capacity. In the forecast years, the major capacity additions will be in China as the country plans to be self-sufficient and decrease its imports. In last decade, global acetic acid market has experienced strong growth in terms of capacity addition with several manufacturers expanding their production facilities, the overall capacity of acetic acid has increased from 14,500 kilo tons in 2010 to the current level. 

This rapid expansion can be attributed to the rising demand and the need to cater to various industries. Eastman Chemical Company, Celanese Corporation, LyondellBasell, Celanese Corporation, SIPCHEM, Daicel Corporation, Chang Chun Petrochemicals, Formosa, and INEOS, are some of the leading acetic acid manufacturers in the world. Celanese Corporation is one of the largest producers of Acetic acid accounting for more than 15% of the global capacity which translates to around 3,400 kilotons.

Acetic Acid Demand

Global demand for Acetic acid was estimated to be around 17,000 kilo tons in 2023. Asia Pacific and North America together dominate the global Acetic acid market on the back of strong Vinyl Acetate Monomer and Purified Terephthalic Acid consumption in these regions. The demand for Acetic acid in the Asia Pacific region was estimated to be around 12,700 kilo tons, which is expected to grow between 5% to 6% on account of fast growth in China and India. The Asia-Pacific region is expected to continue to be a hotbed for new acetic acid investments in the long-term forecast. The region will increase its share of the global capacity to more than 80% by 2025. The major capacity additions will be in China as the country strives to be self-sufficient and decrease its imports. 

The other key regions in the Acetic Acid market are North America followed by Western Europe. These regions are expected to witness sluggish growth in comparison to other regions due to the geographical shift of end-use industries to low-cost manufacturing locations such as Asia.

Global Acetic Acid Demand Analysis, By Application 2016-2036 (Kilo tons)

Global Acetic Acid Demand Analysis, By Application 2016-2036 (Kilo tons)
Source: Secondary & Primary Research and Prismane Consulting estimates

Acetic Acid Exports

China, United States, Malaysia, Singapore, Taiwan, and South Korea are the leading exporters of Acetic Acid. China is one of the largest exporter of Acetic Acid with exports of around 900 kilo tons in 2023 with India being the largest trade partner. India is a net importer of Acetic Acid with almost 50% of imports from China, followed by Malaysia and Singapore. The United States is the second largest Acetic Acid exporter, averaging over 840 kilo tons in last seven years. Around 30% of U.S. Acetic Acid exports are destined for Mexico, followed closely by Belgium. China is the world-largest exporter, with an annual average export volume of over 650 kilo tons between 2016 and 2022. 

Acetic Acid Imports

India, Belgium, Mexico, and Germany are the major Acetic Acid importers in the world. In 2023, India's Acetic Acid imports stood at around 1050 kilo tons, with over 50% of imports coming from China, followed by Malaysia and Singapore. Germany imports over 300 kilo tons of Acetic Acid annually. Belgium, the United States, and the United Kingdom are among its major trade partners. Germany also imports a significant quantity of Acetic Acid from China.

Acetic Acid Prices

The acetic acid prices are closely tied to the availability of raw materials, particularly methanol. More than 70% of Acetic acid is produced by the carbonylation of methanol. Methanol is the crucial raw material for the production of acetic acid production. Fluctuations in prices and supply of methanol can significantly impact the production costs of acetic acid. China is the largest exporter of Acetic Acid in Asia Pacific with exports of over 800 kilo tons in 2023. The average export price of acetic acid in China was USD 420-450 per ton in 2023, a decline of around 50% in comparison to 2021. 

Average Acetic Acid Prices, By Region, (USD/ton)

Average Acetic Acid Prices, By Region, (USD/ton)
Source: Secondary & Primary Research and Prismane Consulting estimates

Acetic Acid Market Dynamics

Driver: Increasing demand for Vinyl Acetate Monomer

Vinyl acetate monomer is the largest application of acetic acid. It is commonly used in paints and coatings. Acetic acid is the key raw material used in the production of vinyl acetate monomer, which is further used to produce polyvinyl acetate. Polyvinyl acetate is also used in the manufacturing of paints and coatings. In the paints industry, VAM is polymerized to obtain polyvinyl acetate and other polymers that serve as important ingredients in the industry. The increasing number of house makeovers and improvements in consumer lifestyles are driving the demand for paints and coatings, thus directly boosting the demand for vinyl acetate monomer.

Restraint: Harmful Effects of Acetic Acid

Acetic acid is a harmful chemical that is corrosive to human skin and eyes if not handled with care. Rising awareness of the hazardous effects of Acetic acid can hinder the market’s growth. Breathing fumes with high concentrations of acetic acid can cause irritation to the eyes, nose, and throat which can cause chest tightness, fever, cough, headache, and confusion. People with respiratory problems such as asthma, and pulmonary fibrosis can be more prone to the effects of inhaling acetic acid. This is because higher levels of acetic acid can cause irritation of airways leading to wheezing, chest tightness, and shortness of breath.

Recent Development in Acetic Acid Market

Reliance Industries Limited, an Indian multinational conglomerate, has announced plans to build an integrated Acetyls complex, which will include Methanol, Acetic Acid, and their derivatives. The company is planning to construct a 3,000-kiloton plant, with operations estimated to commence by 2026. This strategic move aims to reduce India s reliance on imports of Acetic Acid.

Top Acetic Acid Manufacturers:

Scope of Report 

The Acetic Acid report describes the global Acetic Acid market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Composition, by Applications
•  Capacity & Production
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Supply-Demand Balance 
•  Acetic Acid Market data in terms of volume and value for each end-use at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment

1.  Introduction
      •  Scope
      •  Market Coverage
          -  Applications
          -  Regions
          -  Countries
      •  Years Considered
          -  Historical - 2018 – 2023
          -  Base - 2024
          -  Forecast Period - 2025 – 2034
      •  Research Methodology
          -  Approach
          -  Research Methodology
          -  Prismane Consulting Market Models
          -  Assumptions & Limitations
          -  Abbreviations & Definitions
          -  Conversion Factors
          -  Data Sources
2.  Market Synopsis 
      •  Market Evolution
      •  Demand-Supply Overview
      •  Industry Structure
      •  Strategic Issues
      •  End-use Trends
      •  Growth Forecast
3.  Economic & Energy Outlook
      •  GDP and Demographics
      •  Monetary & Fiscal Policies
      •  Crude Oil Production and prices
      •  Natural Gas
      •  Electricity Prices
4.  End-use Sector Performance
      •  Textile
      •  Chemical
      •  Food & Beverages
      •  Paints & Coatings
      •  Others
5.  Plants & Projects Analysis
      •  Acetic Acid Production Capacity, by Company
      •  Acetic Acid Production Capacity, by Country and by region
      •  Capacity Overview
      •  Product Description
      •  Grades & Properties
      •  Raw Material
      •  Manufacturing Process
      •  Environmental Issues
      •  Value Chain
      •  Applications
7.  Market Dynamics and Industry Trends 
      •  Market Dynamics 
          -  Drivers
          -  Restraints
          -  Opportunities
          -  Challenges
8.  Global Acetic Acid Demand-Supply Analysis, By Applications (Volume, Value) (2018–2034)
      •  Strategic Issues
      •  Demand-Supply Analysis and Forecast (2018 – 2034)
          -  Capacity
          -  Capacity Utilization (%)
          -  Production
          -  Imports
          -  Exports
          -  Net Trade
          -  Demand
          -  Demand Growth Rate (%)
          -  Driving Force Analysis
      •  Global Acetic Acid Market, By Applications
          -  Vinyl Acetate Monomer (VAM)
          -  Purified Terephthalic Acid (PTA)
          -  Acetic Anhydride
          -  Ethyl Acetate
          -  Butyl Acetate
          -  Monochloroacetic acid
          -  Others
9.  Demand-Supply Analysis and Market Review, By Region, By Country (Volume, Value), (2018– 2034)
      •  Strategic Issues
      •  Capacity
      •  Capacity Utilization (%)
      •  Production
      •  Imports
      •  Exports
      •  Net Exports
      •  Demand
      •  Demand Growth Rate (%)
      •  Acetic Acid Market, By Applications
Note: Demand-Supply Analysis has been provided for all major Regions / Countries as mentioned below. The demand-supply (consumption) split by applications has been provided for each of the countries/regions in Volume (Kilotons) and Value (USD Million).
      •  North America
         -  USA
         -  Canada
         -  Mexico
      •  Western Europe
         -  Germany
         -  France
         -  Italy
         -  United Kingdom
         -  Spain
         -  Rest of Western Europe
      •  Central & Eastern Europe
         -  Russia
         -  Poland
         -  Rest of Central & Eastern Europe
      •  Asia-Pacific
         -  China
         -  Japan
         -  India
         -  South Korea
         -  ASEAN
         -  Rest of Asia-Pacific
      •  Central & South America
         -  Brazil
         -  Rest of CSA
      •  Middle East & Africa
         -  Saudi Arabia
         -  Egypt
         -  South Africa
         -  Rest of MEA
Note: CAGR will be calculated for all the applications to arrive at the regional/global demand growth for the forecast period (2025 – 2034)
10.  Pricing Analysis
      •  Average Acetic Acid prices, by Country 
      •  Average Acetic Acid prices, by Region
      •  Price Forecast
11.  Key Strategic Issues
12.  Business Opportunity Assessment 
      •  Prospective & Target Market Study
13.  Strategic Recommendation & Suggestions
14.  Company Analysis and Market Share Analysis
         -  Basic Details
         - Headquarters, Key Markets
         -  Ownership
         -  Company Financial
         -  Manufacturing Bases
         -  Global Turnover
         -  Total Employee
         -  Product Portfolio / Services / Solutions
         -  Recent Developments
         -  Companies Covered
             -  Eastman Chemical Company
             -  LyondellBasell Industries N.V.
             -  Celanese Corporation
             -  INEOS Group
             -  Daicel Corporation
             -  Showa Denko
             -  Gujarat Narmada Valley Fertilisers & Chemicals
             -  Chang Chun Petrochemical
             -  JaingsuSopo Group
             -  Shanghai Huayi Group
             -  Shanghai Wujing Chemical
             -  SIPCHEM
             -  Fanavaran Petrochemical
             -  Other Manufacturers
Note: This section includes company information, company financials, manufacturing bases, and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.
15.  Appendices
      •  Demand-Supply - Regions
      •  Demand-Supply– Countries
      •  Capacities, 2018-2034

Scope of Report 

The Acetic Acid report describes the global Acetic Acid market, with focus on the country, applications and other end-use scenarios. The study provides

Market Data & Forecast (Short-term and Long-term)
•  Demand Composition, by Applications
•  Capacity & Production
•  Trade (Import, Export and Net Export)
•  Sales & Revenue
•  Pricing Analysis
•  Market Dynamics

Country Summaries & Product Review
•  Supply-Demand Balance 
•  Acetic Acid Market data in terms of volume and value for each end-use at regional and country level
•  Historical, Current & Market Forecast
•  Macro-economic factors like GDP, Population and World Economic integration
•  Economic & Energy Outlook
•  Industry & Policy Developments 
•  End-use Industry / Applications Market 
•  Reasoning & Analysis
•  Insightful Commentary
•  Market Review
•  Comparative Analysis
•  Key players
•  Strategic Issues and Recommendations
•  Business Opportunity Assessment


Frequently Asked Questions

What is the current global production capacity for Acetic Acid?
The total global Acetic acid capacity has been estimated to be over 20,000 kilo tons in 2024 with Asia Pacific accounting for more than 75% of the total installed capacity, followed by North America, Europe and Middle East & Africa together accounting for remaining share of the global acetic acid capacity.
What is the current market size of the global Acetic Acid market?
The global Acetic Acid market is projected to cross USD 23 billion by 2034, up from the current market size of USD 16.8 billion in 2024, registering a CAGR of 2.8% from 2025 to 2034.
Which regions dominates the global Acetic Acid market?
Global demand for Acetic acid was estimated to be around 17,000 kilo tons in 2024. Asia Pacific and North America together dominate the global Acetic acid market on the back of strong Vinyl Acetate Monomer and Purified Terephthalic Acid consumption in these regions.
Who are the key players in the global Acetic Acid market?
Eastman Chemical Company, Celanese Corporation, LyondellBasell, Celanese Corporation, SIPCHEM, Daicel Corporation, Chang Chun Petrochemicals, Formosa and INEOS, are some of the leading acetic acid manufacturers in the world. Celanese Corporation is one of the largest producer of Acetic acid accounting for more than 15% of the global capacity which translates to around 3,400 kilo tons.
What is the price of Acetic Acid Per Kg?
China is the largest exporter of Acetic Acid in Asia Pacific with exports of over 800 kilo tons in 2023. The average export price of acetic acid in China was USD 420-450 per ton in 2023, a decline of around 50% in comparison to 2021.