High-Purity Acetic Acid Market
Market Scope
Market Research Future (MRFR) studied the global high-purity acetic acid market 2021 for the review period till 2025. As per MRFR assessment, the global market of high-purity acetic acid can surge at 5.16% CAGR through the review period. By 2025, the global high-purity acetic acid market is expected to value at USD 12,471.1 Mn.
Drivers and Restrains
High-purity acetic acid is an indispensable microelectronic chemical in the expanding electronic industry. The surge in demand for high-purity acetic acid enabled consumers electronics due to their better efficacy can support the expansion of the high-purity acetic acid market in the near future. The growing demand for high-purity acetic acid in the paint and coating sectors and its growing prominence as vinyl acetate monomer (VAM) can support the market in the years to come. The rise in demand for paints and coatings across construction, automotive, and marine industries can also positively impact the growth of the high-purity acetic acid market.
Key Players
Shandong Debang (China), Mitsubishi Chemical Corporation (Japan), Jianghua Microelectronics, Merck KGaA (Germany), Tokyo Chemical Industry Co., Ltd (Japan), Sipchem (Saudi Arabia), Jubilant Life Sciences (India), BP p.l.c. (UK), Celanese Corporation (US), Eastman Chemical Company(US), LyondellBasell Industries Holdings B.V. (UK), SHIJIAZHUANG XINLONGWEI CHEMICAL CO., LTD (China), BASF (Germany), FINAR LIMITED (India), Saanvi Corp (India), Qingdao Hisea Chem Co.Ltd (China), Dongyue Group Ltd (China), and Jinmao Group (China).
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In several developed economies, there are food laws that promoted the high utility of the bio-based process that contributes to the increasing demand for vinegar in the production. The rise in prominence of high-purity acetic acid as a natural preservative in pickling of vegetable, along with the surging awarness about antimicrobial agent can promote the expansion of the market. The large-volume of production of chemical compounds, such as; VAM, by undiluted acetic acid can favor the market upsurge in the near future. High purity acetic acid or glacial acetic acid also act as an acidity regulator and the increase in its adoption by food and beverage industry due to growing demand for ready to eat food can underpin the market expansion.
The upscaling demand for high purity acetic acid product in the pharma sector, textile and apparel industry, along with the chemical sector for the synthesis of polymers and resin, can prompt the market rise in the analysis tenure. Automobile, construction, and marine are other affluent industries with exhibiting high demand for high purity acetic acid, thus is expected to cast a positive impact on the market growth. The rapid adoption of the product as etching solutions for semiconductor chips among various other electronic devices can support the market rise in the assessment period. On the contrary, price volatility of raw materials can restraints the market from churning up maximum profits in the near future.
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Segment Study
The type-based segments of the global market of high-purity acetic acid market are 99.9%, 99.5%, and 99.8% among others. The segment of 99.8% acetic acid is likely to dominate the worldwide market with the highest share of around 42% at 5.6% CAGR by end of the evaluation period. The rise in the utility of acetic acid as a an important material in the production of acetate fiber, VAM, acetate ester, and chloroacetic acid, and its growing utility as an organic solvent in the production of coatings and inks can benefit the market over the assessment term.
The application-based segments of the global high-purity acetic acid market are food ingredients and supplements, paints, textiles, pharmaceuticals, coatings and inks, PCB, and semiconductor chips and among others. The paints, inks, and coating segment can dominate the global market over the review period and earn revenue of around USD 3,000.8 Mn. The segment is expected to rise at the highest CAGR over the forecast period. The increase in the demand for high-purity acetic acid as the key raw material in the manufacturing of purified terephthalic acid (PTA) for the production of polymer coating resin can favor he market upsurge.
Regional Analysis of High Purity Acetic Acid
Asia Pacific high purity acetic acid market can dominate the regional market over the review period, and can hold around 55% share of the market. The market in North America, followed by Asia Pacific, can thrive in during the assessment period owing to the upscaling demand for organic acids in the textile, and the paper and pulp sector. The presence of expanding consumer electronic sector in this region can favor the market.
