Acetyls Market Outlook
According to a new report by Expert Market Research titled, “Global Acetyls Market Share, Size, Analysis, Report and Forecast 2023-2028″, the acetyls market reached a value of USD 25.30 billion in 2022. Aided by the mounting demand in diverse industries such as paints, plastics, textiles, and automotive, the market is projected to further grow at a CAGR of 5.5% between 2023 and 2028 to reach a value of USD 34.67 billion by 2028.
Acetyls, primarily acetic acid and its derivatives, serve as critical components in a myriad of industrial applications. These compounds have garnered substantial attention due to their versatility as chemical intermediates. One of the primary applications of acetyls is in the production of vinyl acetate monomer (VAM), which is a key ingredient in the manufacturing of adhesives, paints, and resins. Incorporating sustainable practices and aligning with global shifts towards green chemistry could redefine the industry’s trajectory.
The escalating global demand for sustainable and high-quality coatings and paints in the automotive and construction sectors is a significant acetyls market trend. As urbanisation accelerates and infrastructural developments surge, the need for advanced materials, including those derived from acetyls, has become imperative. Moreover, the expanding middle class across emerging economies has stimulated growth in the automotive industry, indirectly catalysing the demand for acetyls.
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Furthermore, acetyls play a pivotal role in the textile industry, where they are used in the production of synthetic fibres like acetate and triacetate. These fibres are extensively employed in the fashion sector due to their lustrous appearance, drapability, and durability. As fashion trends rapidly evolve and the consumption of garments rises globally, the demand for these synthetic fibres, and in turn market is poised to grow.
The plastic industry’s reliance on acetyls is another factor underpinning the acetyls market demand. Acetyl derivatives are fundamental in the synthesis of certain plastics, offering them enhanced flexibility and resilience. With plastics dominating sectors ranging from packaging to electronics, the acetyls market is positioned for substantial growth.
Moreover, the burgeoning pharmaceutical sector is leaning on acetyls for the production of essential drugs and salicylic acid, which is a precursor to aspirin. The consistent growth in global healthcare and the rising demand for effective medications have ensured the steady consumption of acetyls in the pharmaceutical domain, propelling the acetyls market growth.
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Acetyls Market Segmentation
The market can be divided based on product, end use, and region.
Market Breakup by Product
- Ethyl Acetate
- Cellulose Acetate
- Butyl Acetate
- Acetic Anhydride
- Acetic Acid
- Others
Market Breakup by End Use
- Pharmaceuticals
- Paints and Coating
- Food and Beverages
- Furniture
- Oil and Gas
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global acetyls market. Some of the major players explored in the report by Expert Market Research are as follows:
- Eastman Chemical Company
- Celanese Corporation
- DuPont de Nemours, Inc.
- LyondellBasell Industries Holdings B.V.
- Helm AG
- Wacker Chemie AG
- Sipchem Company
- Saudi Basic Industries Corporation
- Daicel Corporation
- Jubilant Ingrevia Limited
- Others
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