Glacial Acetic Acid Market Overview
Glacial Acetic Acid Market Size was estimated at 7.89 (USD Billion) in 2022. The Glacial Acetic Acid Industry is expected to grow from 8.09(USD Billion) in 2023 to 10.2 (USD Billion) by 2032. The Glacial Acetic Acid Market CAGR (growth rate) is expected to be around 2.61% during the forecast period (2024 - 2032).
Key Glacial Acetic Acid Market Trends Highlighted
The surge in demand for glacial acetic acid in the manufacturing of vinyl acetate monomer (VAM), a key component in various industries, is a significant market driver. The increasing production of cellulose acetate fibers, used in textiles and cigarette filters, is another major factor propelling the market. The rising demand for glacial acetic acid in the pharmaceutical and food industries is also fueling growth.
The growing demand for bio-based glacial acetic acid presents an opportunity for manufacturers to tap into the increasing preference for sustainable products. Additionally, the expansion of the pharmaceutical and food industries, particularly in emerging markets, creates ample opportunities for the growth of the glacial acetic acid market.
In recent times, the market has witnessed a shift towards the adoption of energy-efficient technologies and processes in the production of glacial acetic acid. This trend is driven by the rising concerns over environmental sustainability and the need to reduce operational costs. Moreover, the increasing use of glacial acetic acid in the production of biodegradable and compostable materials is expected to drive the market in the future.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Glacial Acetic Acid Market Drivers
Increasing Demand from the Chemical Industry
Glacial acetic acid is a versatile chemical intermediate utilized in the production of multiple chemicals, such as vinyl acetate monomer, acetic anhydride, and cellulose acetate. Vinyl acetate monomer is a primary raw material for the production of polyvinyl acetate, which is used in various applications, including adhesives, paints and coatings. Acetic anhydride is used in the production of aspirin, ibuprofen and other pharmaceutical products. Cellulose acetate is used in the production of films, fibers, and plastics.
The growing demand for these chemicals is expected to contribute to driving the market over the next several years. The chemical industry is one of the world's largest consumers of glacial acetic acid, with more than 50% of the demand for the chemical emerging from this sector. As a feature of the impact of favorable environmental policies, there is an increasingly fast growth of the chemical industry in the emerging markets of China and India.
These factors are expected to drive the market in these countries further and provide significant growth prospects for glacial acetic acid. Glacial acetic acid is also used in the production of bio-based chemicals, which is a new developing market that is expected to provide additional growth opportunities. Leading industry players focus on the expansion of production capacities to meet the growing demand. For example, in early 2023, Celanese Corporation announced an investment of $1 billion in the new glacial acetic acid plant in China.
With the new plant, the company is expected to increase the total production capacity by 25%. BASF, Dow, and Eastman Chemical Company are key players in the glacial acetic acid market.
Growing Demand from the Food and Beverage Industry
Glacial acetic acid is used as a food additive and preservative in the food and beverage industry. It is utilized to vary the pH of these products and to prevent the growth of bacteria and mold. Moreover, the substance is applied in the production of vinegar, mayonnaise, and other kinds of condiments. The high demand for processed foods and beverages causes the growth of demand for the discussed product within the food and beverage industry.
The increased popularity of convenience foods triggered by the increased disposable income in emerging markets affects the growth of the processed food and beverage market. Moreover, the market in question obtains additional stimulus because of the constantly growing awareness of the beneficial impacts of vinegar on health.
Increasing Environmental Regulations
Glacial acetic acid is a corrosive and flammable chemical. The increasing environmental regulations regarding the production, storage, and transportation of hazardous chemicals are expected to impact the glacial acetic acid market. Governments around the world are implementing stricter regulations to reduce the environmental impact of industrial activities. These regulations are expected to increase the cost of producing and transporting glacial acetic acid, which could lead to higher prices for this chemical.
Glacial Acetic Acid Market Segment Insights
Glacial Acetic Acid Market Application Insights
By application, the Glacial Acetic Acid Market is segmented as Vinyl Acetate Monomer, Terephthalic Acid, Cellulose Acetate, Acetic Anhydride, and Others. The Vinyl Acetate Monomer application segment is the largest, accounting for over 50% of the Glacial Acetic Acid Market revenue in 2023. It is used to produce polyvinyl acetate; a major application of Vinyl Acetate Monomer is adhesives. Adhesives are used in the construction, shoe, and wood industry. The demand for adhesives is growing with the growth of the construction and shoe industries.
It is used in paints and coatings, which are used in the automotive and industrial industries. The demand for paints and coatings is growing with the growth of the automotive and other industries. Hence, the demand for Vinyl Acetate Monomer is increasing and is expected to increase during the forecast period. The second largest segment is Terephthalic acid, accounting for over 25% of the Glacial Acetic Acid Market revenue in 2023. It is used to produce polyethylene terephthalate, it is used in bottle manufacturing and fibers and films.
The demand for PTA is growing with the growing demand for PET in the packaging and textile industry. Hence, the demand for PTA is increasing and is expected to increase during the forecast period. The third largest segment is Cellulose Acetate, accounting for over 10% of the Glacial Acetic Acid Market revenue in 2023. It is used in the production of cellulose acetate fibers, whose largest consumption is as cigarette filters. The demand for cigarette filters is growing with the growing consumption of cigarettes, mostly in developing countries.
Hence, the demand for cellulose acetate is increasing and is expected to increase in the coming years. The fourth largest segment is Acetic Anhydride, accounting for over 5% of the Glacial Acetic Acid Market revenue in 2023. It is used for the production of cellulose acetate, aspirin, and other chemicals. The demand for aspirin is growing with the growth of the pharmaceutical sector. The demand for Acetic Anhydride is increasing and is expected to increase during the forecast period. The fifth-largest segment is Others, accounting for over 5% of the Glacial Acetic Acid Market revenue in 2023.
Other applications include food additives, pharmaceuticals, and solvents. The demand for food additives and pharmaceuticals is growing with the growing population in developing countries. Hence, the demand is increasing and is expected to increase in the coming years.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Glacial Acetic Acid Market Grade Insights
The Grade segment of the Glacial Acetic Acid Market is divided into Commercial Grade, Purified/Reagent Grade, and Technical Grade. The Commercial Grade segment has the largest market share as glacial acetic acid is used in the production of cellulose acetate, vinyl acetate monomer, and acetic anhydride; the segment is expected to grow by a moderate CAGR during the forecast period. The Purified/Reagent Grade segment, essentially used in analytical and research laboratories is expected to grow by a significant CAGR owing to increased application in the pharmaceutical industry.
Technical Grade is mainly used in the production of plastics, solvents, and adhesives and is expected to grow at a stable pace.
Glacial Acetic Acid Market End-Use Industry Insights
The Glacial Acetic Acid Market is segmented into various end-use industries, including Textile, Packaging, Construction, Food Beverage, Pharmaceuticals, and Others. In 2023, the Textile industry accounted for the largest share of the Glacial Acetic Acid Market revenue, with a market value of USD 2.3 billion. The Packaging industry is projected to experience significant growth over the forecast period, reaching a market value of USD 2.7 billion by 2032. The Construction industry is anticipated to contribute significantly to the Glacial Acetic Acid Market, with a market value of USD 1.9 billion by 2032.
The Food Beverage industry is expected to witness steady growth, with a market value of USD 1.5 billion by 2032. The Pharmaceuticals industry is projected to have a market value of USD 1.2 billion by 2032. The Others segment, which includes various industrial applications, is anticipated to grow at a moderate pace, reaching a market value of USD 700 million by 2032.
Glacial Acetic Acid Market Distribution Channel Insights
The distribution channel segment plays a crucial role in the Glacial Acetic Acid Market, influencing market growth and revenue generation. Direct sales, distributors, and e-commerce are the primary channels through which Glacial Acetic Acid is distributed to end-users. Each channel offers unique advantages and challenges, impacting the overall market dynamics. Direct Sales Direct sales involve manufacturers selling Glacial Acetic Acid directly to customers, offering personalized service and control over product distribution. This channel often provides higher profit margins but requires a robust sales force and customer relationship management.
Distributors act as intermediaries between manufacturers and customers, facilitating product distribution to a wider geographic area. They hold inventory, manage logistics, and provide technical support, adding value to the supply chain. Distributors contribute significantly to Glacial Acetic Acid Market revenue, enabling manufacturers to reach a broader customer base. E-commerce has emerged as a rapidly growing distribution channel, offering convenience and accessibility to customers. Online marketplaces and dedicated e-commerce platforms allow manufacturers to sell Glacial Acetic Acid directly to end-users, bypassing intermediaries.
This channel has gained traction in recent years, driven by the increasing adoption of online shopping and the rise of digital technologies.
Glacial Acetic Acid Market Regional Insights
The Glacial Acetic Acid Market is segmented by region into North America, Europe, APAC, South America, and MEA. Regionally, the APAC region is anticipated to account for the largest revenue share over the forecast period owing to the growing demand for glacial acetic acid in the production of cellulose acetate, which is used in the manufacturing of cigarette filters, textiles, and photographic films. Moreover, the rising demand for glacial acetic acid in the food and beverage industry, particularly in the production of vinegar and food additives, is further contributing to the growth of the market in the region.
In 2023, the Glacial Acetic Acid Market in APAC was valued at approximately USD 2.45 Billion and is projected to register a CAGR of 2.8% to reach USD 3.1 Billion by 2032.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Glacial Acetic Acid Market Key Players And Competitive Insights
Major players in the Glacial Acetic Acid Market are implementing advanced technologies to enhance their market presence. The Glacial Acetic Acid Market industry is also witnessing the emergence of new players who are focusing on innovation and differentiation. Leading Glacial Acetic Acid Market players are adopting various strategies such as mergers and acquisitions, partnerships, and collaborations to expand their reach and strengthen their market position. The Glacial Acetic Acid Market development is driven by the increasing demand for acetic acid from various end-use industries. The competitive landscape of the Glacial Acetic Acid Market is expected to remain dynamic in the upcoming years, with key players focusing on expanding their product offerings, geographical presence, and customer base.
Celanese Corporation is a leading provider of specialty materials and chemical products. The company offers a wide range of glacial acetic acid products, including food-grade and industrial-grade. Celanese has a strong presence, with manufacturing facilities in Europe, Asia, and the Americas. The company is committed to providing high-quality products and services to its customers. Celanese is investing in research and development to develop new and innovative glacial acetic acid products.
Dow is another major player in the Glacial Acetic Acid Market. The company offers a range of glacial acetic acid products, including food-grade, industrial-grade, and pharmaceutical-grade. Dow has a presence, with manufacturing facilities in Europe, Asia, and the Americas. The company is focused on providing cost-effective and sustainable glacial acetic acid products to its customers. Dow is also investing in research and development to develop new and innovative glacial acetic acid products.
Key Companies in the Glacial Acetic Acid Market Include
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Eastman Chemical Company
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Mitsui Chemicals, Inc.
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Dow, Inc.
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Showa Denko K.K.
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BP Corporation
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JXTG Holdings, Inc.
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Celanese Corporation
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LyondellBasell Industries Holdings B.V.
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Koch Industries, Inc.
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Lotte Chemical Corporation
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Mitsubishi Chemical Holdings Corporation
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SABIC
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Sumitomo Chemical Co., Ltd.
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Invista S.A.R.L.
Glacial Acetic Acid Market Industry Developments
The Glacial Acetic Acid Market is estimated at USD 8.09 Billion in 2023 and is projected to reach USD 10.2 Billion by 2032, exhibiting a CAGR of 2.61% during the forecast period. Increasing demand from the food and beverage industry, particularly for vinegar production, is a key driver of market growth. The chemical industry is also a significant consumer of glacial acetic acid for the production of cellulose acetate, a versatile material used in various applications. Asia-Pacific is the largest regional market, driven by the growing food and beverage and chemical industries in countries like China and India. Strategic partnerships and acquisitions have been prominent trends in the market. For instance, in 2023, Celanese Corporation acquired the acetic acid business of BP, expanding its presence and strengthening its position in the market.
Glacial Acetic Acid Market Segmentation Insights
Glacial Acetic Acid Market Application Outlook
Vinyl Acetate Monomer
Terephthalic Acid (PTA)
Cellulose Acetate
Acetic Anhydride
Others
Glacial Acetic Acid Market Grade Outlook
Commercial Grade
Purified/Reagent Grade
Technical Grade
Glacial Acetic Acid Market End-Use Industry Outlook
Textile
Packaging
Construction
Food Beverage
Pharmaceuticals
Others
Glacial Acetic Acid Market Distribution Channel Outlook
Direct Sales
Distributors
E-commerce
Glacial Acetic Acid Market Regional Outlook
North America
Europe
South America
Asia-Pacific
Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
7.89(USD Billion) |
| Market Size 2023 |
8.09(USD Billion) |
| Market Size 2032 |
10.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
2.61% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Eastman Chemical Company, Mitsui Chemicals, Inc., Dow, Inc., Showa Denko K.K., BP Corporation, JXTG Holdings, Inc., Celanese Corporation, LyondellBasell Industries Holdings B.V., Koch Industries, Inc., Lotte Chemical Corporation, Mitsubishi Chemical Holdings Corporation, SABIC, Sumitomo Chemical Co., Ltd., Invista S.A.R.L. |
| Segments Covered |
Application, Grade, End-Use Industry, Distribution Channel, Regional |
| Key Market Opportunities |
Growing demand for cellulose acetate Increasing use of paints and coatings Pharmaceuticals and personal care applications Biodegradable plastics and solvents |
| Key Market Dynamics |
Rising demand in textiles, growing application in food and beverages, increasing use in pharmaceuticals, expanding construction industry fluctuating raw material prices |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Glacial Acetic Acid market is expected to be valued at approximately USD 8.09 billion in 2023 and is projected to reach a value of USD 10.2 billion by 2032, exhibiting a CAGR of 2.61% during the forecast period 2024-2032.
Asia-Pacific is expected to account for a significant share of the Glacial Acetic Acid market over the forecast period. Increasing demand for Glacial Acetic Acid from various end-use industries, such as the chemical, food and beverage, and pharmaceutical industries, is driving the growth of the market in this region.
Major applications of Glacial Acetic Acid include the production of vinyl acetate monomer (VAM), which is used in the manufacturing of polyvinyl acetate (PVAc) and other polymers. It is also used in the production of cellulose acetate, which is used in the manufacturing of films, fibers, and plastics.
Key competitors in the Glacial Acetic Acid market include Celanese Corporation, Eastman Chemical Company, SABIC, BP Plc, and Mitsui Chemicals, Inc.
