H1 2023: in H1 2023, the leading producers of Glacial Acetic Acid were Celanese corporation, JIANGSU SOPO (GROUP) CO.LTD, and Yankuang Guotai Coal Chemical limited. However, based on production capacity, Celanese corporation was topping the charts in H1 2023. BASF announced the construction of a new acrylic acid complex at its Zhanjiang Verbund location in China in March 2023. Butyl acrylate (BA), glacial acrylic acid (GAA), and 2-ethylhexyl acrylate (2-EHA) will be included in this new plant. BASF also stated that the plant will commence commercial production in 2025, with an annual capacity of 400 thousand tonnes of BA and 100 thousand tonnes of 2-EHA. The greenfield expansion is a crucial turning point in BASF’s expansion in China's acrylic acid value chain. Based on consumption rate, Asia Pacific region consumed the highest volumes of Glacial Acetic acid. The demand was mainly from the downstream plastic and polymer industries. In the Asian market, although, acetic acid prices varied throughout H1 2023. Following the end of the Lunar New Year holidays in China, prices increased sharply, as the market reopened and the operational rates for Glacial Acetic acid in China improved. The spike in the consumption from downstream chemical industries such as Vinyl Acetate Monomer (VAM) had raised the demand pressure on the supply of Glacial Acetic acid. However, prices for acetic acid in China decreased in the starting of March 2023 as a result of a fall in demand from the end-user industries. The price of acetic acid trended south in April- May 2023 in China. However, in the end of May 2023, glacial acetic acid market accelerated, and emotions turned towards optimistic side.
The global Glacial Acetic Acid market has reached around 11 million tonnes in 2022 and is expected to grow at a CAGR of 5.63% during the forecast period until 2030.
Glacial acetic acid is produced by two main ways: chemical and fermentative method. In the chemical method, the primary method is the Cavita process which involves carbonylation of methanol. The fermentative method is used primary for its application in the Food and Beverage industry. Glacial acetic is widely used for the preparation of vinegar (5-8% of acetic acid). Glacial acetic in diluted form works as an excellent preservative for food items like pickles. Due to its acidic nature, vinegar provides a sour taste to food items.
Glacial Acetic Acid is employed in chemical industries to produce important compounds such as vinyl acetate, purified terephthalic acid (PTA), acetic anhydride, and acetate esters. Acetic acid is also employed for synthesizing cellulose acetate, fibers, photographic film, and rayon. This acid also works as an excellent solvent and can easily dissolve other hydrocarbons and oils. Other applications include paints, adhesives, and coatings. Furthermore, acetic acid is utilized to treat the signs of bacterial or fungal infections in the ear due to its antibacterial property. Acetic acid can be administered either alone or in combination with other drugs.
On a global level, the demand from Plastic & Polymers is majorly driving the Glacial Acetic Acid market. Glacial Acetic Acid is used to produce purified terephthalic acid (PTA), which is used for making PET plastic resin. PET plastic resin is further utilized for making products like bottles, containers, cups, and boxes. In the coming years, the demand for Glacial Acetic Acid is expected to increase in multiple uses such as a raw material for manufacturing of plastics, polymers, paints, and fibers. Consumption of Glacial Acetic Acid is expected to reach around 17 million tonnes by 2030.
The dominating region that demands the most significant volume in Asia Pacific Region with the hold of more than 60% of the global market. In the textile industry, Glacial Acetic Acid is used to print a variety of designs on clothing and majorly employed as a buffering agent to adjust the pH of dyes to provide the vivid color to fabric. The demand of Glacial Acetic Acid by the textile sector coupled with the plastic sector is anticipated to swell up its demand in APAC region. Currently, China is the highest producer of Glacial Acetic Acid. Although, The Celanese Corporation which holds the highest capacity of production of Glacial Acetic Acid operates in Texas, Singapore, China.
Based on grade, the Glacial Acetic Acid market is segregated into Industrial Grade and Pharmaceutical Grade. The Industrial grade dominates the global Glacial Acetic Acid market consuming about 80% of the market in 2022.
Based on the end-user industry, the Glacial Acetic Acid market is segmented into sectors like Plastic & Polymer, Food & Beverage, Adhesive, Paints & Coatings, Pharmaceutical, and Others. Plastic & Polymer market of Glacial Acetic Acid held a share of approximately 35% in 2022. Another application of Glacial Acetic Acid is in Food & Beverages industry wherein it is used in the form of vinegar. Vinegar is frequently employed in pickling, cooking, salad preparation, and canning. Furthermore, by marinating meat with vinegar, bacteria are destroyed, and the meat gets tender. Thus, Food & Beverages industry is accelerating the demand of Glacial Acetic Acid. Furthermore, demand from the Pharmaceutical industry due to its anti-bacterial property.
Significant companies for Global Glacial Acetic Acid are Celanese Corporation, Jiangsu Sopo Company Ltd., Yankuang Guotai Coal Chemical Ltd., Eastmen Chemical, Lotte BP Chemical, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
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The objective of the Study:
• To assess the demand-supply scenario of Glacial Acetic Acid, which covers the production, demand, and supply of Glacial Acetic Acid around the globe.
• To analyze and forecast the market size of Glacial Acetic Acid.
• To classify and forecast the Global Glacial Acetic Acid market based on end-use and regional distribution.
• To examine global competitive developments such as new capacity expansions, mergers & acquisitions, etc., of the Glacial Acetic Acid market.
To extract data for the Global Glacial Acetic Acid market, primary research surveys were conducted with Glacial Acetic Acid manufacturers, suppliers, distributors, wholesalers, and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for the Global Glacial Acetic Acid market over the coming years.
ChemAnalyst calculated Glacial Acetic Acid demand around the globe by analyzing the historical data and demand forecast, which was carried out considering the production of raw material to produce Glacial Acetic Acid. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources, such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Glacial Acetic Acid manufacturers and other stakeholders
• Organizations, forums and alliances related to Glacial Acetic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Glacial Acetic Acid manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Glacial Acetic Acid market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
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Details
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Market size Volume in 2022
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11 million tonnes
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Market size Volume by 2030
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17 million tonnes
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Growth Rate
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CAGR of 5.63% from 2023 to 2030
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Base year for estimation
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2023
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Historic Data
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2015 – 2022
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Forecast period
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2024 – 2030
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Quantitative units
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Demand in million tonnes and CAGR from 2023 to 2035
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Capacity by Process, Capacity by Technology, Operating Efficiency, Production by Company, Demand by Grade, Demand by End- Use, Demand by Region, Capacity by Technology, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
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Segments covered
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By Grade: (Industrial and Pharmaceutical)
By End-Use: (Plastic & Polymer, Food & Beverage, Adhesive, Paints & Coatings, Pharmaceutical, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
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