Quarterly Update on Global Acetic Acid Market
For the Quarter Ending September 2020
Asian Acetic Acid sentiments took a driver’s seat in the third quarter due to a strong demand from the downstream sectors as several plants resumed operations and ramped up production after prolonged disruptions in several parts of Southeast Asia. Chinese Acetic Acid operating rates showed substantial improvement in Q3 2020, hovering around 80-82% compared to the level of 60s in the previous quarter. Firming crude oil further lent strong support to the Acetic Acid futures which headed towards recovery backed by greater activity in the Indian market which has reported strong performance from acetyl intermediates and downstream Vinyl Acetate Monomer (VAM).
The North American Acetic Acid market remained under pressure during the third quarter owing to hurt sentiments in the United States and Canada. Major Acetic Acid producers in the region witnessed substantial decline in the quarterly numbers especially due to weakened acrylic Acetyl Chain segment which slumped by double-digits year over year in the second quarter due to persistent decline in industry pricing resulting from deflationary environment for raw materials.
All key Middle eastern Acetic Acid production sites were running at improved rates as players reported surge in the demand from the downstream VAM producers. Prices took a big leap compared to the last quarter while buyers appeared able to absorb the declared increase. Some price relief could be expected in the upcoming quarter, depending on the feedstock and the buyer’s response towards the year end.
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Daily updates on industry-specific and product-specific news, exclusive primary-based news capturing plant shutdowns/outages/closures, capacity expansions, operating rates, insights on demand-supply situation, awarding of technology licenses, new product launch and deals specifying mergers and acquisitions, strategic investments and disinvestments, to help players capitalize on market opportunity.
ChemAnalyst gathers information through primary research surveys conducted with various Acetic Acid manufacturers, spread across the domestic and international market, suppliers and dealers/distributors to gain insights into value-chains and demand-supply scenario to assess the market situation. Thorough study of company’s annual reports and secondary sources such as exhaustive search on credible paid databases, including our internal database is done to verify the information. All the collected information is analyzed, evaluated and presented in chronological order to depict a meaningful and clear picture of the concerned market.
Our dedicated team of industry experts comprehensively monitors and analyzes various aspects of the Global Acetic Acid market. The team analyzes various industrial segments, strategic viewpoints and provides an analysis of the industry’s performance in the long run. This would enable our clients in efficiently plan their future investments, mitigate risk, understand the cost dynamics and strike out a balance amidst market volatility.
Critical examination of the impact of COVID-19 pandemic on the global supply chains and shift in demand patterns with change in buying behavior of consumers across the globe.
Several ongoing development projects across industries are tracked, followed by the details of major projects in the development stage, which can positively or negatively influence Global Acetic Acid market.
Pricing is captured through exhaustive primary interviews with domestic and international manufacturers, traders and importers and customers on daily, weekly, monthly and yearly basis.
Finally, region-specific markets for Acetic Acid are analyzed and region-wise demand pattern is tracked.
Acetic Acid (also known as ethanoic acid) and denoted by the chemical formula CH3COOH, is a colorless, liquid organic compound with a distinctive odor, sour taste, and smell. It a commodity chemical used across versatile industrial sectors such as chemical, pharmaceutical, textile, polymer and paints, food and beverages. Acetic Acid can be produced vie several chemical and fermentative routes, with the chemical route being the predominant one in the present industrial practice. Most of the production processes involve the carbonylation of methanol promoted by an iodine compound and catalyzed by Rhodium catalyst (Monsanto process) or Iridium catalyst (Cativa process), the former being the most adopted one. The product is extensively used for the production of Purified Terephthalic Acid (PTA), which is used in manufacturing PET bottles, highly preferred for storing carbonated drinks. Another major usage of Acetic Acid is for producing Vinyl Acetate Monomer (VAM), which is the key intermediate for manufacturing a diverse group of polymers and resins for adhesives, films, paints and coatings, textiles and other end-user industries. Rigorous PTA and VAM capacity additions over the past few years have helped in uplifting the global Acetic Acid demand.