The global market for acetyls was valued at $22,004.7 million in 2015, and it is projected to grow demonstrating a CAGR of 6.9% during the forecast period. Increase in demand of acetic acid in the manufacturing of ester solvents and purified terephthalic acid (PTA), and increasing demand of vinyl acetate monomer for adhesives are some of the major factors driving the growth of the global acetyls market. Additionally, the rise in usage of photovoltaic cell is expected to further augment the demand of vinyl acetate monomers. Additionally, ethylene vinyl acetate (EVA) copolymers are required in PV cells for offering a protective adhesive layer in between the glass and the electronic component. EVA’s also provide structural assistance and helps in insulating PV cell from harmful effects of dirt, wind and rain.
The consumption of acetyl has witnessed a rapid increase in the recent times in emerging economies such as India, Malaysia, and China. This is majorly ascribed to the demand arising from paints & coatings industry, increasing consumption of adhesives in the construction sector and rise in packaging and textiles industry.
Geographically, Asia-Pacific dominated the global market for acetyls with the largest share in 2015; and it is also projected to be fastest growing region in the acetyls market during the forecast period, due to growth of electronics industry, increasing investments in oil & gas industry, and large base of automotive industry. Additionally, a rise in standards of living and increase in per capita income has led to an increase in individual expenditure on healthcare, automotive and electronics industry.
Rest of the World is expected to serve as an opportunity for the global market for acetyls during the forecast period. This is owing to increasing investments in end user industries such as pharmaceuticals, paints & coatings, oil & gas, and automotive. Additionally, rapid urbanization and industrialization is expected to boost these end user industries. This in turn is expected to create significant growth opportunities for the global acetyls market in Rest of the World.
Some of the leading players in the global acetyls market include Eastman Chemical Company, The Dow Chemical Company, Jubilant Life Sciences, BP PLC, Celanese Corporation, LyondellBasell Industries Holdings B.V., Helm AG, Saudi International Petrochemical Company (Sipchem), Wacker Chemie AG, and DuPont.
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The information and data in the publication “Global Acetyls Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. A bottom up approach has been used to calculate the market size in terms of volume and value. P&S Intelligence analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
GLOBAL ACETYLS MARKET SEGMENTATION