South Korea Acetic Acid Market Size & Outlook, 2022-2030
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South Korea acetic acid market highlights
- The South Korea acetic acid market generated a revenue of USD 162.0 million in 2022 and is expected to reach USD 299.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 8% from 2023 to 2030.
- In terms of segment, vinyl acetate monomer was the largest revenue generating application in 2022.
- Vinyl Acetate Monomer is the most lucrative application segment registering the fastest growth during the forecast period.
Acetic acid market data book summary
| Market revenue in 2022 | USD 162.0 million |
| Market revenue in 2030 | USD 299.4 million |
| Growth rate | 8% (CAGR from 2022 to 2030) |
| Largest segment | Vinyl acetate monomer |
| Fastest growing segment | Vinyl Acetate Monomer |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol |
| Key market players worldwide | Eastman Chemical Co, Celanese Corp Class A, LyondellBasell Industries NV Class A, SABIC, Helm AG, Daicel Corp, Dow Inc, INEOS, Indian Oil Corporation, Gujarat Narmada Valley Fertilizers & Chemicals |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.3% of the global acetic acid market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China acetic acid market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,709.0 million by 2030.
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Acetic Acid Market Scope
Acetic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Gujarat Narmada Valley Fertilizers & Chemicals | View profile | 1001-5000 | Bharuch, Gujarat, India, Asia | https://www.gnfc.in |
| Indian Oil Corporation | View profile | 10001+ | New Delhi, Delhi, India, Asia | https://www.iocl.com/ |
| Helm AG | View profile | 1001-5000 | Hamburg, Hamburg, Germany, Europe | https://www.helmag.com |
| INEOS | View profile | 10001+ | Rolle, Geneve, Switzerland, Europe | http://www.ineos.com/ |
| SABIC | View profile | 10001+ | Riyadh, Ar Riyad, Saudi Arabia, Asia | http://www.sabic.com |
| Daicel Corp | View profile | 12480 | Grand Front Osaka Tower-B, 3-1, Ofuka-cho, Kita-ku, Osaka, Japan | http://www.daicel.com |
| Celanese Corp Class A | View profile | 12410 | 222 West Las Colinas Boulevard, Suite 900N, Irving, TX, United States, 75039-5421 | https://www.celanese.com |
| Eastman Chemical Co | View profile | 14000 | 200 South Wilcox Drive, Kingsport, TN, United States, 37662 | https://www.eastman.com |
| LyondellBasell Industries NV Class A | View profile | 20000 | One Vine Street, 4th Floor, London, United Kingdom, W1J0AH | https://www.lyondellbasell.com |
| Dow Inc | View profile | 35900 | 2211 H.H. Dow Way, Midland, MI, United States, 48674 | https://www.dow.com |
South Korea acetic acid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to acetic acid market will help companies and investors design strategic landscapes.
Vinyl acetate monomer was the largest segment with a revenue share of 41.17% in 2022. Horizon Databook has segmented the South Korea acetic acid market based on vinyl acetate monomer, acetic anhydride, acetate esters, purified terephthalic acid, ethanol covering the revenue growth of each sub-segment from 2018 to 2030.
The chemical sector in South Korea has been rapidly increasing in the recent years. The need for highquality, advanced chemical products, and associated substance production creates an opportunity for chemical manufacturers of the U.S. in South Korea.
While local and third-country providers are becoming increasingly competitive, there is tremendous demand for highly creative raw materials for chemical manufacturing from the U.S. South Korea is a reliable market for raw and intermediate chemicals used in the manufacturing of finished pharmaceutical, cosmetic, and surfactant goods for the U.S.
The growth in chemical industry in the country is leading to the increasing demand for acetic acid market. According to the Korean Statistical Information Service (KOSIS), the construction industry was declining primarily due to the pandemic, due to which the government is taking initiatives to boost the construction industry in the country.
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Target buyers of South Korea acetic acid market databook
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Our clientele includes a mix of acetic acid market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea acetic acid market , including forecasts for subscribers. This country databook contains high-level insights into South Korea acetic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea acetic acid market size, by application, 2018-2030 (US$M)
South Korea Acetic Acid Market Outlook Share, 2022 & 2030 (US$M)
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