The global was valued at $22,004.7 million in 2015 and it is expected to grow at a CAGR of 6.9% during 2016 - 2022. The major factors driving the growth of the global market include 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 demand in Asia-Pacific region. Additionally, increasing use of photovoltaic cell will further boost the demand of vinyl acetate monomer.
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Developing nations such as China, India, and Malaysia are generating huge demand for acetyls consumptions. 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. Vinyl acetate monomer is the key ingredient used in manufacturing adhesives, owing to its superior fiber forming, adhesives, electrical and optical properties.
Geographically, in terms of value, Asia-Pacific held the largest share in the global acetyls market in 2015 and it is also expected to be fastest growing market during the forecast period, owing to increasing investment in oil & gas industry, rapidly growing electronics industry, and large base of automobile industry.
Increasing per capita income and rising standard of living is increasing the individual expenditure on automobile, healthcare and electronics industry. Furthermore, presence of large number of chemical industries in Asia-Pacific is expected to boost the demand for acetyls, which in turn will produce large share of market in terms of value during the forecast period.
Developing nations such as China, India, and Malaysia are generating huge demand for acetyls consumptions. 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. Vinyl acetate monomer is the key ingredient used in manufacturing adhesives, owing to its superior fiber forming, adhesives, electrical and optical properties.
Geographically, in terms of value, Asia-Pacific held the largest share in the global acetyls market in 2015 and it is also expected to be fastest growing market during the forecast period, owing to increasing investment in oil & gas industry, rapidly growing electronics industry, and large base of automobile industry.
Increasing per capita income and rising standard of living is increasing the individual expenditure on automobile, healthcare and electronics industry. Furthermore, presence of large number of chemical industries in Asia-Pacific is expected to boost the demand for acetyls, which in turn will produce large share of market in terms of value during the forecast period.
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Rest of the World is an emerging opportunity for the acetyls market during the forecast period. The high investment in automotive, paints and coatings, oil and gas and pharmaceuticals industries are presenting Rest of the World as an attractive market for acetyls. Furthermore, increasing urbanization and industrialization is supplementing the growth of acetyls market in Rest of the World.
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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