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Global Acetyls Market Size, Share, Development, Growth and Demand Forecast to 2022  Industry Insights by Product

Global Acetyls Market Size, Share, Development, Growth and Demand Forecast to 2022 Industry Insights by Product

  • August 2016
  • 105 pages
  • ID: 4713882
  • Format: PDF
  • By Prescient & Strategic Intelligence Private Limited

Summary

Table of Contents

Acetyls are the organic compounds having chemical formula CH'CO. The acetyl group consists of a methyl group single bonded with a carbonyl. The IUPAC name of acetyl is Ethanoyl. It is generally present in acetylcholine, acetic acid, acetylsalicylic acid, acetaminophen and acetylcysteine. Acetylation is the chemical process for introducing an acetyl group into a molecule. The acetyl groups of acetic acid, vinyl acetate monomer, and acetic anhydride are used in intermediates in various applications such as adhesives, solvents, inks, and water based paints.

Acetyls Market

The global acetyls market is witnessing significant growth, due to increasing demand of acetic acid in manufacturing of purified terephthalic acid (PTA) and ester solvents. Increasing adhesive consumption in key industries will drive demand of vinyl acetate monomer, and increasing uses of ethyl acetate in oil based enamels. Additionally, increasing use of photovoltaic cell will further boost the demand of vinyl acetate monomer.

Among the various products, in 2015, the acetic acid segment held the largest share in the global acetyls market both in terms of value and volume and it is expected to retain its dominance during the forecast period. Acetic acid serves the purpose of key manufacturing ingredient for various chemicals such as ester solvents, acetic anhydride and purified terephthalic acid (PTA); which are further used in various end user industries such as food and beverages, synthetic fibers, inks and textiles. However, the vinyl acetate monomer (VAM) segment is expected to grow significantly during the forecast period, owing to its application as an intermediate in manufacturing of various homopolymers and copolymers such as ethylene vinyl alcohol, polyvinyl acetate, and polyvinyl acetate. These copolymers found its application in various end-user industries such as paints and coatings, paper and packaging, textiles and adhesives. Vinyl acetate monomer is a key ingredient used for manufacturing of adhesives and furniture glue. Moreover, increasing industrial base of packaging, construction and furniture in developing nations such as China, India, Malaysia, Brazil and South Africa will boost the demand for vinyl acetate monomer (VAM) as they consume adhesives in huge amount.

The global acetyls market was estimated at $22,004.7 million in 2015 and it is expected to grow at a CAGR of 6.9% during 2016 – 2022. In terms of value, with 52.4% market share, Asia-Pacific accounted for the largest share in the global acetyls market. China is the major consumer of acetyls and it is expected to grow significantly during the forecast period. The major reasons for the increasing demand in this region are: growing demand from paints and coatings industry, rise in textile and packaging industry, and increasing consumption of adhesives in key industries such as construction and furniture industry. Furthermore, presence of large number of chemical industries in Asia-Pacific is expected to boost the demand for acetyls, which in turn will generate huge revenue, during the forecast period.

The key companies operating in the global acetyls market include Celanese Corporation, The Dow Chemical Company, Eastman Chemical Company, Jubilant Life Sciences, Wacker Chemie AG, LyondellBasell Industries Holdings B.V., BP Plc, Helm AG, Saudi International Petrochemical Company (Sipchem), and DuPont.

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