Acetic Acid Market Expected to Reach $22.18 Billion by 2029 : Industry Forecasts, Analysis and Growth

January 21, 2025

How has the Acetic Acid Market Progressed in the Recent Years and What is the Projected Future Growth?

After experiencing a strong growth from $16.16 billion in 2024 to $17.09 billion in 2025 at a compound annual growth rate (CAGR) of 5.8%, the acetic acid market is projected to continue to flourish. Factors such as chemical industry growth, textile and fiber production, surface coating applications, widespread use in pharmaceuticals, paper and pulp processing, and rise in water treatment needs have contributed to this positive trajectory in the market.

The acetic acid market is expected to grow to $22.18 billion in 2029 at a compound annual growth rate (CAGR) of 6.7%. The forecasted growth can be attributed to the rise of bio-based acetic acid production, growing demand for ethyl acetate, expansion of the packaging industry, and growing emphasis on green chemistry and acetic anhydride, as well as an increase in use in automotive coatings.

Anticipated trends such as investments in research and development, consolidation, mergers and acquisitions, advancements in food preservation technologies, global economic trends, and trade dynamics, collaborations and partnerships are expected to significantly influence the market dynamics.

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What's Driving the Acetic Acid Market's Growth?

The acetic acid market is largely driven by a significant expansion in the textile sector. Acetic acid is essential in producing rayon and other artificial materials, and it is also used for fabric dyeing. The global textile market size was predicted to be $993.6 billion in 2021 and is projected to grow to $1,032.1 billion in 2022, according to a 2022 report from logistics solutions provider Royale International.

Which Are the Key Segments in the Acetic Acid Market?

The acetic acid market is split into the following segments:

1) By Sales Channel: Direct Company Sale, Direct Import, Distributors And Traders, Retailers

2) By Application: Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol, Other Applications

3) By End-Use: Food And Beverages, Paints And Coating, Plastics And Polymers, Pharmaceutical, Chemicals, Other End-Uses

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Which Are the Major Companies Operating in the Acetic Acid Market?

Major companies include Eastman Chemical Company, LyondellBasell Industries NV, Daicel Corporation, Shanghai Huayi Group Corporation Limited, Celanese Corporation, BP PLC, Saudi Basic Industries Corporation (SABIC), HELM AG, Airedale Chemical Company Limited, Indian Oil Corporation Limited, Wacker Chemie AG, DuPont de Nemours Inc., Mitsubishi Chemical Corporation, Showa Denko K.K., Kingboard Chemical Holdings Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC), Jubilant Life Sciences Limited, China Petroleum & Chemical Corporation (Sinopec), PetroChina Company Limited, and others.

What Are the Emerging Trends in the Acetic Acid Market?

New green ethanol-based acetic acid is gaining traction in the market. For example, in April 2022, Jubilant Ingrevia Limited, an India-based chemical company, launched a new green ethanol-based food-grade acetic acid plant at its manufacturing facility in India to cater to the increasing demand in the food preservative segment across the globe.

Which is the Largest and Fastest Growing Region in the Acetic Acid Market?

Asia-Pacific was the largest region in the acetic acid market in 2024. It is expected to continue this trajectory, making it the fastest growing region in the forthcoming years. The regions covered in the acetic acid market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Does The Acetic Acid Market Report 2025 Offer?

The Acetic Acid Market research report from The Business Research Company offers insights on the global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Acetic acid, an organic substance with a sour flavor and strong odor, is a carboxylic acid comprised of a carboxyl functional group connected to a methyl group. It's typically produced as a by-product of fermentation.

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