Global Acetyls Market to Reach USD 44.95 Billion by 2031 | CAGR of 5.3%
Category : Materials And Chemicals | Published Date : Oct 2024 | Type : Press Release
Acetyls Market Scope & Overview:
In the newly published report Consegic Business Intelligence states that Acetyls Market was valued at USD 29.63 Billion in 2023 and is projected to reach USD 44.95 Billion by 2031, growing at a CAGR of 5.3% during the forecast period from 2024 to 2031. Acetyls, including acetic acid, acetic anhydride, and vinyl acetate monomer (VAM), are essential chemicals used as intermediates in various industries such as pharmaceuticals, chemicals, food & beverages, textiles, and packaging. Acetyls are vital for producing solvents, adhesives, coatings, and packaging materials due to their stabilizing and reactive properties.
The report comprises the Acetyls Market Share, Size & Industry Analysis, By Product Type (Acetic Acid, Acetic Anhydride, Vinyl Acetate Monomer [VAM], Ethyl Acetate, and Others), By End-User Industry (Chemicals, Pharmaceuticals, Food & Beverages, Textiles, Packaging, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Acetyls Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The expansion of the pharmaceutical industry and the increasing demand for acetyl compounds in packaging and food preservatives are driving the market. Moreover, bio-based acetyls are gaining traction as companies seek to reduce their carbon footprint and comply with environmental regulations.
Segmental Analysis :
Based on product type, the market is segmented into acetic acid, acetic anhydride, vinyl acetate monomer (VAM), ethyl acetate, and others.
- Acetic acid accounted for the largest revenue share of 45.23% in 2023, driven by its critical role in producing vinyl acetate monomer, acetic anhydride, and other intermediates used across various industries.
- Vinyl acetate monomer (VAM) is expected to grow at the fastest rate due to its increasing use in eco-friendly adhesives, coatings, and packaging materials.
Based on end-user industry, the market is segmented into chemicals, pharmaceuticals, food & beverages, textiles, packaging, and others.
- Chemicals held the largest market share in 2023, driven by the use of acetyls as intermediates in producing solvents, resins, and polymers.
- The packaging segment is expected to witness the highest growth, supported by the demand for sustainable packaging solutions that use acetyl-based adhesives and coatings.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific accounted for the largest market share in 2023, driven by high demand in China and India due to expanding chemical, textile, and packaging industries. China is the largest producer of acetic acid globally.
- North America is projected to experience significant growth, supported by the pharmaceutical and chemical sectors and the increasing use of acetyl compounds in food additives and packaging.
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 44.95 Billion |
| CAGR (2024-2031) | 5.3% |
| By Product Type | Acetic Acid, Acetic Anhydride, Vinyl Acetate Monomer (VAM), Ethyl Acetate, Others |
| By End-User Industry | Chemicals, Pharmaceuticals, Food & Beverages, Textiles, Packaging, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Acetyls Industry:
- Celanese Corporation
- Eastman Chemical Company
- BP Plc
- LyondellBasell Industries N.V.
- Dow Chemical Company
- INEOS Group
- Wacker Chemie AG
- SABIC
- Daicel Corporation
- LOTTE Chemical Corporation
Recent Industry Developments :
- In September 2023, INEOS Acetyls acquired Texas City Operations from Eastman Chemical Company, strengthening its position in the acetyls market.
- In March 2023, Celanese Corporation implemented a zero-waste initiative at its Edmonton facility, increasing Ethylene Vinyl Acetate production capacity and enhancing its acetyls product line.
