The global glacial acetic acid market is expected to witness tremendous rise over the forecast period owing to the increasing use of preservatives coupled with growing healthcare applications in the emerging economies of the world. Glacial acetic acid is colorless undiluted acetic acid used in a wide range of applications such as food & beverages as a preservative, pharmaceuticals, manufacture of paints, coatings and inks and in vinegar. Being basic in nature, glacial acetic acid is considered as a good acidity regulator in many foods and beverages. In addition production of acetic anhydride also seeks a use of the acid as a condensing agent which is further used in synthetic textiles and photographic films. Increasing demand for special foods & beverages is expected to propel the global glacial acetic acid market demand over the forecast period. Rising consumption of vinegar in various foods & beverages couples with the growing application scope of glacial acetic acid in the textile manufacture is expected to propel market growth over the next seven years. In addition, it is used in the petrochemical industry as it is a key chemical for various reactions. Increasing number of petrochemical refineries coupled with the growing scope of applications in household are the other key factors which are expected to drive glacial acetic acid market demand over the next seven years. Glacial acetic acid can also be derived by fermentation of bacteria. Raw material cost is a major factor which determines the demand for glacial acetic acid. Low raw material cost coupled with the ease of availability in nature is a potential factor which is expected to drive glacial acetic acid demand over the forecast period.
Key application markets include its usage in the producing vinyl acetate monomer and purified terephthalic acid which is further used for applications such as manufacturing PET, sealants and adhesives. A major factor fueling glacial acetic acid market is the rising demand from the industries which results in growing use for end products. Vinyl acetate monomer is used in adhesives and sealant industries and can be commercially produced by the use of glacial acetic acid. Demand for vinyl acetate monomer has been witnessing substantial rise owing to rising consumption of adhesives and sealant over the past three years due to rapid industrialization of emerging economies of the world. In addition, increasing use of PET in the packaging industry is expected to enhance sales of glacial acetic acid which is considered a major raw material for production of purified terephthalic acid (PTA). In addition, glacial acetic acid finds major use in household applications as a scouring agent in food additives and a condiment.
At present, China is the largest glacial acetic acid market and is expected to grow over the forecast period on account of increasing demand for the end use applications in the region. Increasing industrialization in the nation is expected to drive the market demand over the next seven years. In addition, China being the one of the largest producers of automobiles is expected to have a huge market for sealants and adhesives, which in turn is expected to propel glacial acetic acid demand over the forecast period. Owing to availability of cheap labor coupled with the ease of availability of raw material, China glacial acetic acid market anticipates to witness high growth over the forecast period.
Asia Pacific was the largest market for glacial acetic acid which is expected to grow on account of increasing demand for the product from countries such as India and Japan. Rising health concerns coupled with changing lifestyles in North America is expected to fuel market growth over the forecast period. Moreover, increasing technological innovations in the manufacturing process coupled with the development of the infrastructure is expected to fuel market demand in the region over the next seven years. European Union countries are expected to witness growth on account of increasing scope of glacial acetic acid in the industries such as textiles, automotive and pharmaceuticals. Increasing oil and gas production and exploration is expected to be the key factor for driving glacial acetic acid market over the forecast period in the Middle East region.
Key players present include Celanese, Eastman Chemical Company, Qingdao Huatuo Chemicals Co. Ltd., Henan CXH Purity Industrial And Trading Co. Ltd., Zhengzhou Kelai Chemical Co. Ltd., HarvinImpex Pvt. Ltd. India, Ultra Chemical Works, A.B. Enterprises, Akchem and Chemical Point UG.
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The ongoing pandemic and consequent protocols that have been purposed to address public health and safety concerns have led to a rise in demand for disinfectant chemicals. Companies across the globe are ramping up their production to facilitate the sudden spike in demand from healthcare organizations, food retail, municipal departments and households alike. The report will account for Covid19 as a key market contributor.