Acetyls Share, Size ,Growth, Global Future Prospects, Key Findings, Industry Demand, Regional Analysis, Key Players Profiles and Forecasts to 2027
Market Overview
The
global acetyls market is expected to witness a significant growth during the
forecast period owing to the wide scope of application. The market is primarily
driven by the use of acetylated products in pharmaceuticals for producing
medicines such as paracetamol and aspirin. Additionally, the use of these
products in food & beverage industry as a flavoring agent and preservative
is another factor driving the demand for acetyls.
Competitive Analysis
Some
of the prominent players operating in the global acetyls market are BP p.l.c.
(Europe), Celanese Corporation (US), Daicel Corporation (Japan), Eastman
Chemical Company (US), HELM AG (Germany), LyondellBasell Industries Holdings
B.V. (Netherlands), Wacker Chemie AG (Germany), DowDuPont (US), Kanoria
Chemicals & Industries Ltd. (India), Laxmi Organic Industries Ltd. (India),
and Sipchem (Saudi Arabia).
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Regional Analysis
Regionally,
the global market has been segmented into five regions, namely, Asia-Pacific,
North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific
accounted for the largest market share in 2017 owing to the high demand for acetyls
in food & beverage, pharmaceuticals, and paints & coatings industries.
Major contributing countries to this market include China, India, Thailand, and
Malaysia. The high disposable per capita income and the rise in working
population is a major driver of the market growth in the region.
The
high demand for acetyls in paints & coatings, food & beverage, and
pharmaceuticals industries is expected to drive the market in the European and
North American region.
Market Segmentation
The
global acetyls market has been segmented by product type, application, and
region.
By
product type, the market is segmented into acetic acid, acetic anhydride, vinyl
acetate, ethylene acetate, and others. Among these, acetic acid dominated the
market in 2017 owing to its extensive use in food & beverage application as
flavor enhancer, flavoring agent, an acidifier, color diluent, curing agent,
pickling agent, pH control agent, solvent, and preservative. Furthermore, it is
used as a boiler water additive, suitable for steam that contacts food. It is
also an effective means of cleaning and sanitizing food preparation equipment
and utensils.
Based
on application, the market has been segmented into food & beverages,
pharmaceuticals, oil & gas, paints, inks, & coatings, waxes, furniture,
and others. The rise in working population and the high disposable income of the
consumers has resulted in an increased demand for ready-to-eat food, which is
expected to drive the market growth. Moreover, the rising demand for generic
drugs on the backdrop of increasing geriatric population and sedentary
lifestyle of younger generation propels the demand for acetyls in
pharmaceuticals application
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