billion in 2015. The global acetyls market is projected to reach USD XX.XX billion by 2022, growing with a CAGR of 6.5% to 7.0% from 2016 to 2022. The demand for acetic acid in ester solvents and purified terephthalic acid manufacturing industries are driving the growth of global acetyls market. The increase in the consumption of adhesives in some major industries is expected to generate the demand for vinyl acetate monomer.Moreover, the growth in use of photovoltaic cells is expected to drive further demand for vinyl acetate monomer. Ethylene vinyl acetate also finds application in the photovoltaic cell industry as adhesive for sticking together glass and the electronic component. The price of the acetic acid in the global market came down significantly over the past couple of years, as the supply was greater than demand.The demand for acetyls in industries such as coatings,dye, food and beverages, paint, and pharmaceuticals boost the growth of acetyls market. The emergence of numerous new applications for acetyls in various end user industries are expected to drive the growth of acetyls market, during the forecast period.
The report segments the global acetyls market by end use applications,products, and region. The end use applications include food and beverages, furniture, inks, oil &gas, paints, pharmaceuticals, waxes &coatings and others. On the basis of products, the market has been segmented into acetic acid, acetic anhydride, butyl acetate,cellulose acetate, ethyl acetate, ethylene vinyl acetate, monochloroacetic acid, poly vinyl acetate,poly vinyl alcohol,terephthalic acid, vinyl acetate monomer and some others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific region is the largest as well as the fastest growing acetyls market in the world. The global acetyls market is driven by increase in consumption of acetyls in developing countries such as India, China, Malaysia, and some others in Asia-Pacific region. Adhesives, automobiles, and electronic industries drive the Asia pacific region with significant demand for the acetyls. China is the largest consumer, producer and exporter of acetic acid in the world. Europe is the second largest acetyls market as there is huge demand acetyls from various chemical industries based in Western Europe.Moreover, the technological collaborations between European universities and acetyl industry are expected to provide new opportunities and growth prospects for global acetyl market during the forecast period. The methanol industry in North America has boosted the requirement of shale gas based acetic acid, as they are less -priced. The technological advancements and collaborations are expected drive the growth of North American market, as the feed stock from certain industries are conducive for acetyls production. The new acetyls industrial units established in Africa are expected to drive the growth of the market in the region over the forecast period. Heavy investments in industries such as automotive, paints and coatings, oil & gas, and pharmaceuticals in emerging economies in the rest of the world provide opportunities for major players in the global acetyls market to expand during the forecast period.
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The companies covered in the report include: British Petroleum Plc,Celanese Corporation, DuPont, Eastman Chemical Company,Helm AG, Jubilant Life Sciences,LyondellBasell Industries Holdings BV, Saudi International Petrochemical Company