International marketing consulting company ” big vision research ,” recently released a research report, vinyl acetate monomer (VAM) and the growth in demand for refined terephthalic acid (PTA) and other applications will drive the next six years the global market for acetic acid demand , 2014 to 2020 global sales CAGR of 5.1% acetic acid in 2020 will reach $ 12.2 billion . Insiders said that the industry has recently invested a lot of money in acetic acid research and development, heralded by the alternative sources of raw materials to produce acetic acid may have a significant opportunity.
VAM is the largest application areas acetic acid , mainly used in adhesives and sealants industry in 2013 accounted for 32.4 % of the global consumption of acetic acid . The research report, India, China , South Korea, Malaysia and Japan automotive and construction growth will have a positive impact on the VAM market . The second largest application areas PTA acid is widely used in the packaging industry polymer polyethylene terephthalate main raw material (PET) , the 2013 consumption of more than 3 million tons . Good prospects for the region ‘s packaging industry will directly affect the demand for acetic acid .
Study reported that in 2013 global sales of nearly 10.45 million tons of acetic acid market , 2014 to 2020 is expected to grow at a CAGR of 5.1% . China is the world’s largest consumer of acetic acid , in 2013 accounted for 37.31 percent of total global consumption. The report predicts that China will be the fastest growing market acetate , 2014 to 2020 is estimated at a CAGR of 6% , automotive, construction and packaging industries , such as terminal applications will become a major factor stimulating demand growth .
In addition to China, other parts of Asia is the second largest market for acetic acid , acetic acid consumption in 2013, more than 2.67 million tons . Experts predict that India and Japan and other countries in the region will benefit the growth of the demand , saying the main contributors. In North America and Europe. As the Government has given preferential policies bio-based products , acetic acid market growth is expected to slow.
Concentration of acetic acid market in the world is quite high , five large companies account for more than 2013 production total market demand of 70% , with the largest Celanese and BP , the two companies combined market share of over 45 %. Other major companies include BASF , DuPont, Eastman Chemical , Sinopec and PetroChina , etc.(http://www.lubonchem.com supply)
