According to IMARC Group’s latest report, titled “Europe Acetic Acid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The study provides a detailed analysis of the industry, including the Europe Acetic Acid Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Acetic Acid Market in Europe?
The Europe acetic acid market size reached 1.5 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 1.7 Million Tons by 2028, exhibiting a growth rate (CAGR) of 1.6% during 2023-2028.
What is Acetic Acid?
Acetic acid (CH3COOH), which is also known as methane carboxylic acid or ethanoic acid, possesses a pungent and strong smell and is a clear organic compound. Synthetic production and bacterial fermentation are methods for producing this acid. Consequently, the production of vinyl acetates, volatile organic esters, metal acetates, and cellulose acetate extensively utilizes acetic acid. Additionally, it finds applications in the manufacturing of coatings, paints, textiles, and solvents. Acetic acid, obtained through the carbonylation of methanol, emits a sour and strong pungent smell.
The production of vinyl acetate monomer (VAM), metal acetates, purified terepthalic acid (PTA), cellulose acetate, and ethyl and butyl acetates extensively relies on acetic acid. Moreover, it serves as an intermediary for manufacturing coatings, sealants, and greases in various industry verticals, including construction, electronics, and packaging sectors.
The growing market demand for vinegar, for which acetic acid is widely used in production, is contributing to the market’s growth. Additionally, the rising preference for polyethylene terephthalate (PET) bottles in sectors like pharmaceuticals, food and beverages, and consumer goods, owing to their durable, lightweight, and recyclable properties, is driving the global uptake of acetic acid. As these bottles are manufactured using PTA, which is produced using acetic acid, the demand for acetic acid is being further facilitated worldwide.
The market is further driven by technological advancements in production technology to significantly lower the overall manufacturing costs while also ensuring increased production efficiency. Some of the other factors contributing to the market growth include the increasing product utilization for manufacturing packaging materials and the growing demand for high-quality paints and adhesives.
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Europe Acetic Acid Market Trends:
The increasing demand for acetic acid across the food and beverage (F&B) industry represents one of the key factors primarily driving the acetic acid market across Europe. In addition to this, the rapid expansion of the textile and chemical industries and the rising demand for paints and coatings are other factors significantly contributing to the market growth. Moreover, the key market players are heavily investing in research and development (R&D) activities to reduce energy consumption during the production of acetic acid, which is creating a positive outlook for the market across the region.
Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Key Market Segmentation:
The report has categorized the market based on application and end use industry.
Breakup by Application:
- Ethyl Acetate
- Butyl Acetate
Based on End Use Industry:
- Plastics and Polymers
- Food and Beverage
- Inks, Paints and Coatings
- United Kingdom
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
This step involves validation of internal market findings and assumptions from key industry stakeholders and value chain participants. The key stakeholders contacted in this step include industry experts such as marketing managers, directors, vice presidents, sales managers, strategy mangers, channel partners, and other value chain participants. Further, in order to enhance our understanding of the latest demand-side trends and scenarios, surveys of the target consumers were also conducted. The objective of primary interviews is not only data validation but also to gain a deeper insight into the market landscape, historical trends, mid- and long-term outlook, government policies, etc.
Secondary Research :
Secondary research or preliminary data mining is conducted to gather industry landscape and trends, market classification and segmentations, regional insights, key players’ information, policy and regulatory scenario, technological innovations, key market opportunities, challenges, etc. The sources include annual reports, investor presentations, white papers, government bodies, associations, articles from recognized authors, company websites, directories, and databases, certified publications, IMARC’s data repository of published reports, etc.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Group employs a robust research methodology which involves data triangulation using an amalgamation of bottom-up and top-down approaches and validation of the final market numbers through expert interviews. We use our extensive database of macroeconomic and sector-specific data to generate the industry forecast. These factors include market drivers, challenges, technological developments, government regulations, macro-economic scenario, etc. After an initial baseline forecast, all future events and assumptions are based on extensive primary and secondary research.
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