This Report Provides In-Depth Analysis of the Acetyls Market Report Prepared by P&S Intelligence, Segmented by Product Type (Acetic Acid, Vinyl Acetate Monomer, Ethyl Acetate, Acetic Anhydride, Formaldehyde), Application (Food & Beverages, Oil & Gas, Pharmaceutical, Paints, Inks, Waxes & Coatings, Furniture), and Geographical Outlook for the Period of 2019 to 2032
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Acetyls Market Future Prospects
The global acetyls market size is USD 28.2 billion in 2024, and this number is expected to increase to USD 41.4 billion by 2032, advancing at a CAGR of 5.0% during 2025–2032. This can be attributed to the increasing usage of such chemicals in numerous industries, such as paints & coatings, construction, and food & beverages; growing need for drugs and the resulting high R&D spending, and favorable government regulations for the pharma sector.
Depending on the actual chemical, acetyls are mainly used in industries such as oil & gas, food & beverages, pharmaceuticals, paints & coatings, adhesives, furniture, and many other end-use industries such as manufacturing of cellulose acetate and modified starch. These starches find their application in food industry for the purposes of rapid digestion, fat replacer, texture improver, high shear and temperature stability, high nutritional claim and for flavor oil encapsulation.
Acetyls Market Trends and Growth Drivers
Acetic Acid Usage to Produce PTA and Ester Solvents Drives Market
Acetic acid is the key raw material used in the manufacturing of purified terephthalic acid and ester solvents.
PTA is itself predominantly used as a raw material in the manufacturing of polyester staple fibers, and polyester filament yarns, in conjunction with monoethylene glycol (MEG).
Another key usage of PTA is in the manufacturing of polyethylene terephthalate (PET) bottle resin and polyester films, which are used in textiles and food & beverage containers.
Using PTA offers economic benefits over the alternative dimethyl terephthalate (DMT) intermediate, which, ultimately, drives the demand for acetic acid.
Additionally, ester solvents, such as ethyl acetate, are used in coatings, inks, adhesives, and agrochemicals, for chemical reactions.
Moreover, owing to its odor, ethyl acetate is generally used in cosmetics, specifically nail polishes.
It is also used in confectionery, perfumes, and fruits because it evaporates at a high rate, leaving the pleasant scent.
Volatile Feedstock Prices Can Hamper Market Growth
The key restraint for the market, especially in regard to industrial-grade acetic acid is the volatile price of methanol, its key starting material.
Natural gas is used as the feedstock in most of the world’s production of methanol. The oil & gas market is prone to high price fluctuation, owing to various geo-political, economic and technological factors.
However, low prices of oil & gas products will boost the methanol market, but due to continuous fluctuations in the market, it will negatively impact the strategy formulation in the long term.
The acetyls manufacturers prefer long term supply contracts for methanol supplies, but down the line, fluctuations in natural gas pricing and supply would hamper the methanol market, thus affecting the global acetyls market.
Growing Production of PV Panels Offers Opportunities
The increasing demand for green energy has shifted the trend from non-renewable sources to renewable sources of power generation, thus presenting solar power energy as the primary source.
PV modules consist of a transparent top surface, an encapsulant, a rear layer and a frame around the outer edge.
In most modules, the top surface is glass, the encapsulant is EVA (ethylene-vinyl acetate) and the rear layer is solar film.
Owing to its high durability, cross-linking bonding abilities, and superior optical properties, EVA is gaining importance in solar industry.
Ensuring long-lasting performance of PV modules in harsh outdoor environments is a major challenge faced by solar module manufacturers.
The EVA based encapsulant offers solar modules excellent durability and protection against corrosion and delamination.
Ethylene vinyl acetate is a copolymer of ethylene and vinyl acetate.
The increasing demand for EVA in PV cells has also boosted the demand for vinyl acetate monomer, thus positively affecting the global acetyls market.
Increasing global warming concern and shifting focus on reducing carbon emission has presented solar energy as a viable source of green energy power generation.
Asia-Pacific is expected to witness significant growth in solar industry, which offers a potential market for acetyls products.
Acetyls Market Analysis
Product Type Insights
Acetic acid accounted for the largest revenue share, of 30%, in 2024, and it is further expected to dominate the market during the forecast period. This is due to its widespread usage in the manufacturing of plastics as well as cosmetic products and as a solvent in organic and inorganic compounds. Moreover, the rising production of vinyl acetate monomer, ethyl acetate, butyl acetate, terephthalic acid, and monochloroacetic acid raises the acetic acid demand. Additionally, it is used to manufacture sealants, greases, polyesters, and coatings, all of which have wide-ranging applications in a variety of sectors, including packaging, electronics, and automotive.
However, the most-well-known use of acetic acid is vinegar, most commonly to tenderize meats and poultry. Additionally, a lot of salad dressings and wet spice pastes, such as the Goan recheado, comprise vinegar as a key ingredient. It is also a key ingredient of several household cleaning products due to its ability to dissolve dirt, mineral deposit, grime, and grease and kill bacteria.
Furthermore, vinyl acetate monomer held a significant revenue share in 2024. This can be attributed to the growing demand for adhesives and emulsions in the packaging and construction sectors. It is also used to manufacture various polymers, such as polyvinyl alcohol (PVOH), ethylene-vinyl acetate (EVA), polyvinyl acetate (PVA), ethylene-vinyl alcohol (EVOH), and acetate ethylene (VAE), because of its fiber-forming ability, high adhesiveness, optical clarity, colorlessness, and thermal conductivity.
Ethyl acetate will witness the fastest growth in demand during the forecast period. This will be owing to its rising usage in the food & beverages industry as a solvent and artificial flavor enhancer and the growing paints & coatings, packaging, and printing ink industries in emerging economies.
These product types are covered in the report:
Acetic Acid (Largest Category)
Vinyl Acetate Monomer (Fastest-Growing Category)
Ethyl Acetate
Acetic Anhydride
Formaldehyde
Others
Application Insights
Food & beverages account for the largest revenue share, of 40%, in 2024 and it is expected to dominate the market during the forecast period as well. This will be due to the growing consumer base in emerging economies, rising standards of living, and increasing need for polyester containers, bottles, and other plastic-based packaging, owing to the growing packaged food industry. Moreover, such chemicals are used as an artificial flavoring agent and shelf-life enhancer in food products, mainly acetic acid, in the form of vinegar.
Pharmaceuticals will witness the highest CAGR, of 5.5%, during the forecast period. This can be ascribed to the widespread use of acetyls in the manufacturing of drugs, due to their capability to penetrate the blood–brain barrier, which improves the effectiveness of the drugs. The acetyl group in acetylsalicylic acid (aspirin) enhances its effectiveness relative to the natural anti-inflammatory salicylic acid. Similarly, acetylation converts the natural painkiller morphine into the far more potent heroin (diacetylmorphine). Acetyl compounds also have strong anti-oxidant properties that protect the skin. Compounds such as idebenone, N-acetyl-S-farnesyl-L-cysteine, ergothioniene and other pharmaceutically acceptable salts have excellent characteristics that can repair cells and prevent them from aging.
Key drugs with the acetyl group are acetylcysteine (widely used to reverser hepatic failure), acetyl chloride (used to manufacture aspirin), and acetaminophen (also known as paracetamol). The growth in the demand for medication is itself attributed to the growing elderly population and rising prevalence of diseases associated with the lifestyle. Moreover, the increasing R&D expenditure by governments and various industry giants to develop new drugs and expand production facilities across the globe drives the market growth.
Additionally, the paints, inks, waxes, & coatings category generates significant revenue in the market. This can be ascribed to the rising construction activities in emerging economies, rising production of environment-friendly packaging products, growing residential construction sector, and high investments by industry giants in setting up manufacturing facilities in developing nations, owing to the easy raw material supply as well as lower cost of labor.
The applications analyzed in the report are listed below:
Food & Beverages (Largest Category)
Oil & Gas
Pharmaceutical (Fastest-Growing Category)
Paints, Inks, Waxes & Coatings
Furniture
Others
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Acetyls Market Geographical Outlook
APAC accounted for the largest revenue share, of 40%, in 2024, and it is expected to witness the highest CAGR during the forecast period, of 6%. This can be ascribed to the huge population and high-speed urbanization and industrialization in the region. Moreover, the increasing buying power and rising living standards have allowed individuals to spend more on automobiles, processed food and beverages, furniture, housing, and electronic gadgets.
The emerging economies of China, India, Malaysia, Thailand, and Indonesia have witnessed incredible growth in their construction, automotive, chemicals, electronics, oil & gas, pharmaceuticals, food & beverages, paints & coatings, and packaging industries in recent years.
China contributes the majority of the revenue to the regional market owing to the large number of manufacturing facilities, due to the cheap labor; increasing infrastructure development activities, growing preference for ready-to-eat food, and booming paints & coatings industry.
North America has a significant acetyls market size due to the growing pharmaceutical industry, itself owing to the increasing need for drugs, rising demand for healthcare services, and high R&D expenditure in the healthcare sector. Additionally, the high investment by governments in the oil & gas sector drives the consumption of acetyls in the region.
The U.S. contributed the majority of the revenue in the continent in 2024, and it is expected to dominate the regional market during the forecast period too. This will be owing to the presence of a large number of chemical manufacturers, well-developed healthcare infrastructure, increasing number of packaging companies, and growing need to improve the production of such chemicals due to the increasing demand for drugs.
Europe will also witness substantial growth during the forecast period due to the high demand for paints and coatings in the automobile industry, growing food & beverages industry, owing to the rising population; and booming chemical industry. Moreover, the demand for such chemicals from the textile and construction industries is rising.
Here is the geographical breakdown of the market:
North America
U.S. (Larger and Faster-Growing Country Market)
Canada
Europe
Germany (Largest Country Market)
France (Fastest-Growing Country Market)
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific (APAC) (Largest and Fastest-Growing Regional Market)
China (Largest Country Market)
India (Fastest-Growing Country Market)
Japan
South Korea
Australia
Rest of APAC
Latin America (LATAM)
Brazil (Largest Country Market)
Mexico (Fastest-Growing Country Market)
Rest of LATAM
Middle East and Africa (MEA)
Saudi Arabia (Largest Country Market)
South Africa
U.A.E. (Fastest-Growing Country Market)
Rest of MEA
Acetyls Market Share
The acetyls market is fragmented as the chemical has been known for centuries in almost all cultures, primarily in the form of vinegar.
Hence, local companies are able to produce it in substantial volumes cost-effectively and sell it to a wide range of customers.
Moreover, there are no real safety and quality regulations for this chemical, except for usage in pharmaceuticals.
Therefore, although major chemical companies produce these chemicals, they do not dominate the market.
For food and other non-critical uses, end users generally buy it from small, local vendors.
Major Companies in Acetyls Market:
Eastman Chemical Company
The Dow Chemical Company
Jubilant Ingrevia Limited
LyondellBasell Industries Holdings B.V.
HELM AG
Wacker Chemie AG
Celanese Corporation
Daicel Corporation
INEOS Group
China National Petroleum Corporation
China Petroleum and Chemical Corporation
BASF SE
Acetyls Market News
In October 2024, Celanese Corporation completed the expansion of its Asia Technology Center (ATC) in Pudong, Shanghai.
In June 2024, Wacker Chemie AG inaugurated a new 18,000-square-meter headquarters building in the Werksviertel District of Munich.
In March 2024, LyondellBasell Industries Holdings B.V. completed the sale of its ethylene oxide & derivatives production plants in Bayport, Texas, to INEOS Group.
In September 2023, INEOS Group announced an agreement to purchase the Texas factory of Eastman Chemical Company for USD 490 million, to produce acetic acid and other acetyls. Post the sale, Eastman retained its plasticizer production activities at the site.
Frequently Asked Questions About This Report
What are the key factors driving the growth of the acetyls market?+
The market for acetyls is driven by the growth of the construction, pharmaceuticals, oil & gas, and food & beverages industries.
What is the acetyls industry report nature?+
The acetyls industry is fragmented.
Which region leads the acetyls market?+
APAC dominates the market for acetyls.
How much is the acetyls industry growth potential till 2032?+
By 2032, the acetyls industry value will reach USD 41.4 billion.
What is the application analysis of the acetyls market?+
Food & beverages is the biggest application in the market for acetyls, while pharmaceuticals and paints, inks, waxes, & coatings are other significant ones.
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