According to IMARC Group’s latest report, titled “North America Acetic Acid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027″, the North America acetic acid market is expected to exhibit a CAGR of 6.53% during 2022-2027. Acetic acid (CH3COOH), or ethanoic acid, is a byproduct of fermentation that gives vinegar its characteristic odor. It is a colorless, clear, pungent liquid belonging to the carboxylic acid family of organic compounds. Acetic acid is a commodity chemical obtained through the carbonylation of methanol, bacterial fermentation, and oxidation of acetaldehyde and ethylene. It is primarily used as a chemical reagent in the production of vinyl acetate monomers (VAMs), acetic anhydride, and esters. Currently, acetic acid is extensively used as a protic solvent in industries, raw material for synthesizing plastics, dyes, chemical compounds, insecticides, pharmaceuticals, and rubbers, and food preservative and additive in various dishes and dietary supplements.
COVID-19 Impact:
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North America Acetic Acid Market Trends:
The primary factor driving the market growth in North America is the rising number of construction activities. Acetic acid and its derivatives are largely used in umpteen construction products, including thinners, glues, and paints. Apart from this, the surging use of acetic acid produced via fermentation route across the food and beverage (F&B) industry in the form of vinegar and the rising demand for ready-to-eat (RTE) food products are providing a considerable boost to market growth. Moreover, key market players are using advanced technologies, such as continuous submerged, trickling, and membrane-based processes, to increase their production efficiency and lower capital costs for the construction of new plants, which is creating a positive outlook for the market. Besides this, the utilization of carbon monoxide (CO) and carbon dioxide (CO2) as feedstock generated from natural gas that offers long-term sustainability for acetic acid production is acting as another growth-inducing factor.
North America Acetic Acid Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the north america acetic acid market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the north america acetic acid market on the basis of breakup by application, end-use and region.
Breakup by Application
- VAM
- PTA
- Anhydride
- Ethyl Acetate
- Butyl Acetate
- Others
Breakup by End-Use Industry
- Plastics and Polymers
- Food and Beverages
- Inks, Paints and Coatings
- Chemicals
- Pharmaceuticals
- Others
Breakup by region
- United States
- Canada
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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