The demand for Acetic Acid in India grew at a CAGR of 5.01% during 2013-2019 and is anticipated to achieve a healthy CAGR during the forecast period. Increasing use of Acetic Acid in packaging, pharmaceuticals, and textile applications is expected to spur the demand for Acetic Acid in India during the next five years. Gujarat Narmada Valley Fertilizers & Chemicals Limited as the only manufacturer of Acetic Acid in India is unable to meet the massive domestic demand for the product hence, majority of its demand is met through imports. To boost the domestic production of Acetic Acid and meet the unending demand for the same, there is a need to encourage larger number of domestic manufacturers to emerge in the Acetic Acid market. Acetic Acid is commercially manufactured by methanol and alcohol route. Limited availability of feedstock and high cost of alcohol process makes methanol more desirable in the production of Acetic Acid. Domestic demand for this product is perceived to vary with regions too. Among all regions, the western region in India has shown a significant demand for Acetic Acid due to the presence of various end user industries. As Acetic Acid is utilized in appreciable amount to produce PTA, demand for Acetic Acid is expected to record a marked growth due to growing demand of PTA in packaging and pharmaceutical industry. Increasing demand for PTA in polyester fibers is yet another factor contributing to the hike in demand for Acetic Acid. Along with this, utilization of Acetic Acid for production of acetic anhydride and diketene derivatives is expected to contribute to the market growth as well during the forecast period.
Years Considered for this Report:
Historical Years: 2013 – 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 – 2030
Objective of the Study:
• The primary objective of the study was to evaluate and forecast Acetic Acid capacity, production,
demand, inventory, and demand – supply gap in India.
• To categorize Acetic Acid demand based on end use, region and sales channel.
• To study trade dynamics and company share in India Acetic Acid market.
• To identify major customers of Acetic Acid in India.
• To evaluate and forecast Acetic Acid pricing in India Acetic Acid market.
• To identify and profile major companies operating in India Acetic Acid market.
• To identify major news, deals and expansion plans in India Acetic Acid market.
In this report, India Acetic Acid market has been segmented into following categories:
Major players operating in global Acetic Acid market include Celanese Corporation, Daicel Corporation, PetroChina Company Limited, Eastman Chemical Company etc. Gujarat Narmada Valley Fertilizers & Chemicals Limited is the only leading manufacturer of Acetic Acid in India. Apart from this, Tirchy Distilleries & Chemicals Ltd. was also involved in the production of Acetic Acid till 2015.
Import of Acetic Acid increased by 5.92 per cent in FY 2019 and Acetic Acid prices were assessed at INR XXX per MT on bulk contract basis.
To extract data for India Acetic Acid market, primary research surveys were conducted with Acetic Acid manufacturers, suppliers, distributors, wholesalers and end users. 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 end user segments and projected a positive outlook for India Acetic Acid market over the coming years.
ChemAnalyst calculated Acetic Acid demand in India by analyzing the historical data and demand forecast was carried out considering methanol prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing 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:
• Acetic Acid manufacturers, importers, suppliers and other stakeholders
• Organizations, forums and alliances related to Acetic Acid distribution
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Acetic Acid manufacturers, distributors and policy makers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
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