The India Acetic Acid market has reached around 1240 thousand tonnes in FY2023 and is expected to hike at a healthy CAGR of 5.68% during the forecast period until FY2032. Increasing use of Acetic Acid in packaging, pharmaceuticals, and textile applications is expected to spur the demand for Acetic Acid in India during the forecast period.
Acetic Acid is a colorless, liquid compound with a pungent odor, sour taste, and smell. This compound has a chemical formula of CH₃COOH. There are a number of chemical and fermentative processes that can be used to create acetic acid, with the chemical process predominating in the industrial usage. Most of the production processes involve the carbonylation of methanol promoted by an iodine compound and catalyzed by a Rhodium catalyst or Iridium catalyst. Acetic acid is a versatile chemical utilized in various industrial sectors such as pharmaceutical, chemical, textile, polymer and paints, food, and beverages.
Acetic Acid is extensively used for the production of Purified Terephthalic Acid (PTA), which is employed in the production of PET bottles which are most commonly used for storing soda and other beverages. The production of Vinyl Acetate Monomer (VAM), a crucial step in the production of a wide range of polymers and resins for sealants, films, paints & coatings, textiles, and other end-user industries, is another significant use of Acetic Acid. With the growing demand of PTA and VAM in the forthcoming years, the demand of Acetic Acid as the feedstock chemical is anticipated to rise till FY2032. Moreover, in the food & beverage sector, Acetic Acid is employed as a preservative agent owing to its acidic property and employed to manufacture vinegar, which is employed in various food items like pickles, dressings for salads, and more. Due the rising demand for food as a result of growing population in India is anticipated to further swell the Acetic Acid demand in the forecast period. The India Acetic Acid market is anticipated to reach 2000 thousand tonnes by FY2032.
Based on the region-wise consumption, the Acetic Acid market is segmented into West, South, North, and South. Although during the FY2015-FY2023, west India displayed a highest consumption among all other parts of India. The Acetic Acid market in the west is anticipated to grow in the forecast period as well due to the presence of majority of factories located in this region that heavily consume Acetic Acid for applications in paints & coatings, pharmaceuticals, food & beverage, chemicals, and plastics and polymers.
Gujarat Narmada Valley Fertilizers & Chemicals Limited is the only producer of Acetic Acid in India, rest of the demand being fulfilled by imports. To meet the growing demand of food-grade acetic acid, Jubilant Ingrevia Limited recently commissioned a new green acetic acid plant in April FY2022 with an annual capacity of 25 thousand tonnes per annum. The plant is aimed to meet standards of product certifications like FSSAI, ISO 22000, Kosher, FCC Codex, and Halal etc. To further boost the domestic production of Acetic Acid and meet the increasing demand for the same, there is a need to encourage a larger number of domestic manufacturers to emerge in the Acetic Acid market.
Based on end-use segment, the India Acetic Acid market is segmented into Ethyl Acetate, Purified terephthalic acid (PTA), Acetic Anhydride, Monochloro Acetic Acid, and Others. Ethyl Acetate segment is leading the market and anticipated to hold a share of roughly 35% in FY2023. Furthermore, Purified terephthalic acid (PTA) sector is also a leading consumer and is anticipated to contribute significantly to the India Acetic Acid market in the upcoming years.
Major players in the India Acetic Acid market are Gujarat Narmada Valley Fertilizers and Chemicals Ltd and Jubilant Ingrevia Limited.
Years considered for this report:
Historical Period: FY2015-FY2023
Base Year: FY2023
Estimated Year: FY2024
Forecast Period: FY2025- FY2032
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Objective of the Study:
• To assess the demand-supply scenario of Acetic Acid which covers production, demand and supply of Acetic Acid market in India.
• To analyse and forecast the market size of Acetic Acid in India.
• To classify and forecast India Acetic Acid market based on end-use and regional distribution.
• To examine competitive developments such as expansions, green field projects/ brown field expansions. mergers & acquisitions, etc., of Acetic Acid market in India.
To extract data for India Acetic Acid market, primary research surveys were conducted with 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 India Acetic Acid market over the coming years.
ChemAnalyst calculated Acetic Acid demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Acetic Acid 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 and other stakeholders
• Organizations, forums and alliances related to 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 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, India 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 FY2023
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1240 thousand tonnes
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Market size Volume by FY2035
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2000 thousand tonnes
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Growth Rate
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CAGR of 5.68% from FY2024 to FY2032
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Base year for estimation
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FY2024
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Historic Data
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FY2015 – FY2023
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Forecast period
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FY2025 – FY2032
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Quantitative units
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Demand in thousand tonnes and CAGR from FY2024 to FY2032
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Report coverage
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Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Port-wise Export, Manufacturing Process, Policy and Regulatory Landscape.
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Segments covered
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By End-Use: [Ethyl Acetate, Purified terephthalic acid (PTA), Acetic Anhydride, Monochloro Acetic Acid, and Others]
By Sales Channel: (Direct Sale and Indirect Sale)
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Regional scope
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Northern India, Southern India, Eastern India, Western India
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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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