According to the latest report published by Variant Market Research, the global Acetyls market size was valued at $23.1 billion in 2016, and is estimated to reach $39.4 billion by 2024. In this report, the global acetyls market forecast says that the global market is growing at a CAGR of 6.9% from 2016 to 2024.
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Growing need in food & beverage industry to drive the growth of Acetyls market
Increasing demand for acetyl in paint and coatings, increasing R&D projects, and growing need in food & beverage industry are the global acetyls market trend. However, declining demand for solvent borne adhesives may hamper the growth of the market. Moreover, growing application, and increasing application in diverse end-user industry are expected to present potential growth opportunities over the forecast timeframe.
Product type, and geography are the major segments considered in the global acetyls market. On the basis of product type the segment consist of acetic anhydride, ethyl acetate, vinyl acetate monomer, acetic acid, and other product types.
Geographically, the market has been bifurcated into North America, Europe, Asia-Pacific, and RoW. North America (U.S., and Rest of North America), Europe (Spain, Germany, UK, France, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in this market.
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Acetic Acid dominated the product type segment with major market share in 2016
Acetic acid held for the majority of the market share in the product type segment, in 2016, owing to expanding textile and packaging industry, and growing adoption of ester solvents coating industry.
Asia-Pacific contributed for the largest market share in the global acetyls market
Asia-Pacific generated the highest revenue accounting for 52.5% of the global acetyls market share in the year 2016, owing to the widespread R&D and presence of various manufacturers for acetyls production the region. Apart from this, Australia and Pakistan are also witnessing a significant demand in the global acetyls market.
RoW is anticipated to achieve the fastest CAGR throughout the forecast period 2016 – 2024, driven by expansion of vinyl acetate monomer and PTA capacities, growth in construction industry, and growth in food & beverage industry.
Key players profiled in the report include The Dow Chemical Company, LyondellBasell Industries Holdings B.V., Eastman Chemical Company, BP p.l.c., Wacker Chemie AG, Celanese Corporation, and HELM AG, among others.
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Scope of the Global Acetyls Market
Product Type Segment
- Acetic Acid
- Vinyl Acetate Monomer
- Ethyl Acetate
- Acetic Anhydride
- Other Product Types
- North America
- Rest of North America
- Rest of Asia-Pacific
- South America
- Middle East
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