High Purity Acetic Acid Market Overview
High-Purity Acetic Acid Market was valued at USD 8,826.0 Million in 2020 and is projected to reach USD 12,471.1 Million by the end of 2027, at a CAGR of 5.16%. High Purity Acetic acid is one of the most important solvents in the electronic industry. It is considered one of the most indispensable microelectronic chemicals. The High-Purity acetic acid industry chain includes consumers, raw material suppliers, and manufacturing departments. The growing use of high-purity acetic acid as one of its constituents is called vinyl acetate monomer, which is further used in producing paints and coatings. The growing demand for paints and coatings in the automotive, construction, and marine industries is expected to be relatively high, contributing to market growth.
In various developed economies, food laws play a major role in promoting the high usage of the bio-based process industry, which is an essential factor for Vinegar production. High-purity acetic acid is a natural preservative in vegetable pickling and is used as a preserver due to an antimicrobial agent. The production of chemical compounds such as Vinyl acetate monomer is extracted from undiluted acetic acid.
COVID-19 Analysis:
Before the lockdown and pandemic hit the manufacturing industries, the global Metal Carboxylates Market was gaining a lot of momentum. After the first lockdown wave, there was a disbalance in the market and the manufacturing industries were also impacted. The outbreak of the COVID 19 global pandemic is also negatively influencing the global FDI inflows overall. The most vulnerable areas of service owing to the adverse effects of coronavirus are chemicals, aircraft, automobiles, electronics, and other many sectors.The Covid 19 has both short long-term impacts that lead to the crisis on the industry chain, especially on the market channels. The volume value and the prices of the market have dipped during the pandemic. The main restraints were that the consumer is not active in the market and the production has been hampered and that too made it a severity at a global level and impacted the distributors and manufacturers. Several small-scale industries have landed during this time and have given a boost to the demands as well and now it is developing more amongst the local regions as well.
Competitive Landscape:
There are various key manufacturers of the market. That helped for global revenues and the strategies and collaborations that players are focusing on combat competition in the market. This gave a significant microscopic look at the market. Thus, the global price of manufacturers and sales by manufacturers during the forecast period of 2015 to 2025 is likely to establish more market share in the forecast period.The major players in the global High Purity Acetic Acid market are listed below as per the regions:
- Eastman Chemical Company(US)
- BASF (Germany)
- FINAR LIMITED (India)
- SHIJIAZHUANG XINLONGWEI CHEMICAL CO., LTD (China)
- Qingdao Hisea Chem Co.Ltd (China)
- Saanvi Corp (India)
- Shandong Debang (China)
- Jianghua Microelectronics
- Dongyue Group Ltd (China)
- Jinmao Group (China)
- Tokyo Chemical Industry Co., Ltd (Japan)
- Mitsubishi Chemical Corporation (Japan)
- Merck KGaA (Germany)
- Sipchem (Saudi Arabia)
- BP p.l.c. (UK)
- Celanese Corporation (US)
- LyondellBasell Industries Holdings B.V. (UK)
- Jubilant Life Sciences (India)
Market Dynamics:
For the High-Purity Acetic Acid Market, if we study about Type and Application the study provides the ales and revenue during the historic and forecasted period of 2015 to 2026. Understanding the pattern helped in identifying the different factors that aid the market growth. The major factor that leads to the growth of the market is vinyl acetate monomer (VAM) which is further used in the production of paints and coatings. In the automotive, construction, and marine industries it is expected to have a positive impact on the market growth as the paints and coating rangers have increased.In various developed economies, food laws promoted the high usage of the bio-based process and it is an essential factor for the production of Vinegar. High-purity acetic acid plays a major role as a natural preservative in vegetable pickling and is preserved as an antimicrobial agent. The production of chemical compounds such as VAM is done by Undiluted acetic acid uses. The growing usage of glacial acetic acid application as an acidity regulator in the food & beverage industry is likely to drive market growth in the past times and will grow in the said forecast.Drivers● The high demand for the product in the pharma industry across the globe.● The Increased application in the textile and apparel industry.● The growing use of high-purity acetic acid in the food and beverage industry.● Increased use in chemical synthesis, especially for polymers and resin.Opportunities:The increased demand for paints and coatings in the automotive, construction, and marine industries is expected to positively impact market growth. The rapid adoption of acetic acid to produce etching solutions for semiconductor chips and for various electronic devices are projected to create many growth opportunities for market players during the assessment period.Restraints:The fluctuating prices of the raw material are the restraints to provide the maximum profits in the market share.Challenges:The price of high-purity acetic acid in the US and Europe due to lesser availability of methanol. Around 70% of the acetic acid produced by methanol carbonylation includes methanol and carbon monoxide. Segment Overview:
The analysis on the basis of type and application segment has helped in analyzing the volume and value of the Acetic Acid market. Also, the High Purity Electronic Grade Acetic Acid market is split by Type and by Application. It has provided the targeted growth in the forecast period.
By Application
- Food Ingredient & Supplement
- Semiconductor Chips
- Pharmaceutical
- Paints Coating, and Inks
- Textiles
By Type
- 99.9% Acetic Acid
- 99.8% Acetic Acid
- 99.5% Acetic Acid
- Other Grade
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Regional Analysis:
The High Purity Acetic Acid market is analyzed and market size information is provided by many different countries. The key regions covered in the High Purity Acetic Acid market report are:
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, etc.)
- Middle East & Africa (Saudi Arabia, Egypt, Nigeria and South Africa)
Recent Developments:
The rising demand for antimicrobial agents in non-alcoholic beverages, baked goods, and household and commercial food preservatives has become the fastest-growing segment and propels the market share.
The global players have adopted several efforts for expansion, mergers & acquisitions, joint ventures, agreements, and partnerships to maintain their market dominance and increase their presence. However, now considering the healthy lifestyles, several changes in the market patterns have been initiated. Now, bio-based raw materials are also used to produce high-purity acetic acid. The major players are investigating Research and Development to develop bio-based and alternative raw materials for the production of Acetic Acid.
The High Purity Acetic Acid Market suggests that the market competition between dealers through a regional subdivision in terms of revenue generation, business prospects, and demand-supply comparison is taking place and will continue to take place shortly.
Report Overview:
This complete report has the methodology of organizing, collecting, and analyzing data to know the market trend of the High-Purity Acetic Acid growth. The investment structure and future analysis of the High Purity Acetic Acid Market overall provide a rise in the growth and production in the coming future. The consumers and manufacturers are developing new alternations in their region to produce the maximum quantities and maintain the quality as well.There is a relevant rise in the figures at which the High Purity Acetic Acid Market was valued in the base year and estimated to project the revenue in the forecasted period. The High Purity Acetic Acid Market reports that the market competition between vendors through regional segmentation of markets in terms of revenue generation potential, business opportunities, demand-supply comparison taking place in the future. For every individual market player, the High Purity Acetic Acid Market landscape and leading manufacturers offer competitive landscape and market development status.
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Report Attribute/Metric
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Details
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Market Size
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2027: USD 12,471.1 Million2030: Significant Value
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CAGR
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5.16% (2022-2030)
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Base Year
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2021
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Forecast Period
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2022 to 2030
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Historical Data
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2019 & 2020
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Forecast Units
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Value (USD Million)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Segments Covered
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Application, Type and Region
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Geographies Covered
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North America, Europe, Asia-Pacific, and Rest of the World (RoW)
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Key Vendors
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Eastman Chemical Company(US), BASF (Germany), FINAR LIMITED (India), SHIJIAZHUANG XINLONGWEI CHEMICAL CO., LTD (China), Qingdao Hisea Chem Co.Ltd (China), Saanvi Corp (India), Shandong Debang (China), Jianghua Microelectronics, Dongyue Group Ltd (China), Jinmao Group (China), Tokyo Chemical Industry Co., Ltd (Japan), Mitsubishi Chemical Corporation (Japan), Merck KGaA (Germany), Sipchem (Saudi Arabia), BP p.l.c. (UK), Celanese Corporation (US), LyondellBasell Industries Holdings B.V. (UK), Jubilant Life Sciences (India)
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Key Market Opportunities
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The increased demand for paints and coatings in the automotive, construction, and marine industries is expected to positively impact market growth.
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Key Market Drivers
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The high demand for the product in the pharma industry across the globe. The Increased application in the textile and apparel industry. The growing use of high-purity acetic acid in the food and beverage industry. Increased use in chemical synthesis, especially for polymers and resin.
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High Purity Acetic Acid Market Highlights:
Frequently Asked Questions (FAQ) :
It is estimated to expand at a CAGR of 5.16% by the end of 2025.
Global high-purity acetic acid market is estimated hold a market value of USD 12,471.1 million by the end of 2025.
Global high-purity acetic acid market can be segmented on the basis of application, type, and region.
On the basis of type, the global high-purity acetic acid market can be segmented into 99.9%, 99.8%, 99.5%, and others.
Mitsubishi Chemical Corporation (Japan), Saanvi Corp (India), Qingdao Hisea Chem Co.Ltd (China), Tokyo Chemical Industry Co., Ltd (Japan), and a few more are some of the renowned names of the global high-purity acetic acid market.
Is estimated to hold a market value of USD 12,471.1 million by the end of 2025.
The global High-Purity Acetic Acid Market is segmented on the basis of application, type, and region.
On the basis of type, It is segmented into 99.9%, 99.8%, 99.5%, and others.
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