Market Size of North America Acetic Acid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 2.94 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Acetic Acid Market Analysis
The North American Acetic Acid Market is estimated to reach 2.48 million tons by the end of this year and is projected to reach 2.86 million tons in the next five years, registering a CAGR of 2.94% during the forecast period.
The COVID-19 pandemic negatively impacted the market in 2020, owing to several restrictions imposed by the US, Canadian, and Mexican governments. The lockdown in these countries resulted in a production halt, affecting the acetic acid market. However, the market has been recovering well since restrictions were lifted. The market recovered significantly in 2021, owing to rising consumption from paints and coatings, food and beverage end-user industries in the region.
- Over the short term, the increasing demand for vinyl acetate monomer (VAM), the rising demand from the food and beverage industries, and the growing use of ester solvents in the paints and coatings industry are driving the growth of the acetic acid market.
- On the contrary, environmental concerns regarding the harmful effects and increasing prices of raw materials are hindering the growth of the studied market.
- The development of new separation technologies to increase the production efficiency of acetic acid is expected to create opportunities for the market during the forecast period.
- The United States is expected to dominate the market in North America. It is also expected to register the highest CAGR in the region due to the rising demand for acetic acid from paints and coatings, food and beverage, and chemical end-user industries in the region.
North America Acetic Acid Industry Segmentation
Acetic acid is a monocarboxylic acid containing two carbons. It is a clear, colorless liquid with a strong, pungent odor, like vinegar. Acetic acid can be derived from the carbonylation of methanol, the oxidation of acetaldehyde and ethylene, or a biological method like bacterial fermentation. It is used as a chemical reagent to produce several chemical compounds like acetic anhydride, ester, vinyl acetate monomer, vinegar, and many other polymeric materials.
North America's Acetic Acid Market is segmented by Derivatives (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Ethyl Acetate, Acetic Anhydride, and Other Derivatives), Application (Polymers, Food and Beverage, Adhesives, Paints and Coatings, Textiles, Medical, and Other Applications), and Geography (United States, Canada, and Mexico). Each segment's market sizing and forecasts are based on volume (Million tons).
| Derivative | |
| Vinyl Acetate Monomer (VAM) | |
| Purified Terephthalic Acid (PTA) | |
| Ethyl Acetate | |
| Acetic Anhydride | |
| Other Derivatives |
| Application | |
| Plastics and Polymers | |
| Food and Beverage | |
| Adhesives, Paints, and Coatings | |
| Textile | |
| Medical | |
| Other Applications |
| Geography | |||||
|
North America Acetic Acid Market Size Summary
The North American acetic acid market is experiencing a recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market is driven by increasing demand from various sectors, including paints and coatings, food and beverages, and the chemical industry. The United States is expected to lead the market, benefiting from its robust automotive, construction, and textile industries, which are significant consumers of acetic acid. The market's growth is also supported by advancements in separation technologies that enhance production efficiency. However, environmental concerns and rising raw material costs pose challenges to market expansion.
The acetic acid derivatives, such as ethyl acetate, butyl acetate, and vinyl acetate, play a crucial role in the adhesives, paints, and coatings industries, which are substantial markets in the United States, Canada, and Mexico. The growth in these industries, particularly in the United States, is fueled by the construction and automotive sectors, as well as the expanding textile and chemical industries. The market is partially consolidated, with major players like Celanese Corporation, INEOS, and Eastman Chemical Company actively participating in strategic initiatives to enhance their product offerings and production capabilities. These dynamics indicate a positive outlook for the acetic acid market in North America over the forecast period.
North America Acetic Acid Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Vinyl Acetate Monomer (VAM)
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1.1.2 Increasing Demand from the Textile and Packaging Industry
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1.1.3 Increasing Use of Ester Solvents in The Paints and Coatings Industry
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1.2 Restraints
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1.2.1 Environmental Concerns Regarding the Harmful Effects
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1.2.2 Increasing Prices of Raw Materials
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Derivative
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2.1.1 Vinyl Acetate Monomer (VAM)
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2.1.2 Purified Terephthalic Acid (PTA)
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2.1.3 Ethyl Acetate
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2.1.4 Acetic Anhydride
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2.1.5 Other Derivatives
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2.2 Application
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2.2.1 Plastics and Polymers
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2.2.2 Food and Beverage
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2.2.3 Adhesives, Paints, and Coatings
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2.2.4 Textile
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2.2.5 Medical
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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North America Acetic Acid Market Size FAQs
What is the current North America Acetic Acid Market size?
The North America Acetic Acid Market is projected to register a CAGR of 2.94% during the forecast period (2024-2029)
Who are the key players in North America Acetic Acid Market?
Celanese Corporation, INEOS, Eastman Chemical Company, LyondellBasell Industries Holdings B.V. and SABIC are the major companies operating in the North America Acetic Acid Market.
