| Acidic acid otherwise called ethanoic acid, it is a dull fluid that goes about as a significant forerunner for the development of different synthetic compounds utilized in material, elastic and plastic ventures among others. It goes about as a mediator for the definition of different coatings, sealants, and lubes that are generally utilized in the development, hardware, and the bundling business. Acidic acid market is projected to show considerable development during the conjecture time frame. The developing utilization of acidic acid in assembling of different items like vinyl acetic acid derivation monomers (VAM) and decontaminated terephthalate acid is projected to support the market size during the evaluation time frame. Acidic acid is broadly used to create VAM, which is thusly used to fabricate different saps and polymers for glues, films, paints, coatings, materials and opposite end-client items.
Acetic acid is a simple monocarboxylic acid. It acts as a chemical intermediate in the manufacture of coatings, and sealants that are mainly used in the end use industries such as construction, electronics, and packaging . It is also used as a major precursor for the production of various chemicals used in textile, rubber and plastic industries among others.
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Global Market Overview
The global Acetic acid market, which grew from US$X.XX billion in 2015 to US$X.XX billion in 2019, dropped marginally to US$4.46 billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.XX billion and increase to US$X.XX billion in 2026 at a CAGR of X.XX%. Cumulatively the market is expected to value US$X.XX billion during the forecast period as compared to US$X.XX billion during the historical period.
Regional Market Overview
The APAC region is expected to account for a majority of Acetic acid demand over the forecast period, with the market expected to cumulatively value US$X.XX billion over the forecast period. Europe is expected to be the second largest with a total value of US$X.XX billion, followed by North America (US$X.XX billion), Middle east & Africa (US$X.XX billion) and South America (US$X.XX billion).
Application in Regional Markets
The APAC market for Acetic acid used in the fluorocarbon end use, which grew from US$X.XX billion in 2015 to US$X.XX billion in 2019, dropped marginally to US$X.XX billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.XX billion and increase to US$X.XX billion in 2026 at a CAGR of X.XX%. Cumulatively the market is expected to value US$X.XX billion during the forecast period as compared to US$X.XX billion during the historical period
Acidic acid Market Country Level Analysis
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
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Market Key Players
The acetic acid market is fragmented in nature. Some of the major players in the market include Celanese Corporation, INEOS, Jiangsu SOPO (Group) Co. Ltd, Eastman Chemical Company or its subsidiaries, and LyondellBasell Industries Holdings BV, among others.
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