The global acetyls market is anticipated to experience a moderate compound annual growth rate (CAGR) of 5.3% throughout the forecast period, driven by increasing demand from various end-use industries, including pharmaceuticals, automotive, and food processing. By 2033, the market is projected to reach a valuation of approximately USD 46,355.30 million. Factors such as the rising applications of acetyls in the production of solvents, coatings, and adhesives, along with growing industrialization and urbanization in emerging economies, are expected to further bolster market growth. Additionally, advancements in production technologies and the development of new acetyl derivatives will likely enhance market opportunities during this period.
The increasing demand for acetyl in numerous end-use sectors, including pharmaceutical, furniture, and oil & gas, together with strong research & development in these areas, are likely to spur market expansion for acetyls.
Accelerating Production of Paints and Coatings for Market Ascendancy
Acetyls are frequently used as a chelating agent during coatings manufacturing in the paints and coatings industry. These include acetic acid, acetic anhydride, vinyl acetate monomer (VAM), ethylene acetate, and more. Acetyls are used in paints and coatings to speed up drying and prevent corrosion. The output of paints and coatings is expected to rise globally, fueling industry expansion.
Igniting the Growth and Innovation in the Pharmaceutical Industry
Acetyls are largely used to manufacture pharmaceutical medications to improve drug delivery. Antibiotics, vitamins, and other pharmaceutical items are mostly produced using it. In the upcoming years, the market expansion is anticipated to be driven by the rapidly expanding worldwide pharmaceutical industry.
Tackling Raw Material Price Volatility for Sustainable Expansion
Crude oil produces some materials needed to make Acetyl goods. As a result, changes in the price of crude oil could impede market expansion. The unstable and erratic cost of raw materials may constrain market expansion.
Regional Outlook
With a significant acetyls market share, Asia Pacific dominated the market globally. China is anticipated to be the region’s top acetyl consumer. Some key drivers for the acetyls industry include rising demand from the paints and coatings sector, growing adhesive used in the furniture and construction sectors, and expansion in the textile and packaging sectors. Acetyls are in high demand due to the massive chemical industry in Asia Pacific economies. Such factors are anticipated to boost the market during the projected period.
Key Takeaways
- The United States might increase its acetyls market share by 24.1% between 2023 and 2033.
- Between 2023 and 2033, Germany may hold 14.4% of the acetyls industry.
- Japan’s share of the acetyls industry could reach 3.1% between 2023 and 2033.
- Australia to hold a 1.7% share of the acetyls market from 2023 to 2033.
- During the forecast period, China’s acetyls business to expand at a CAGR of 5.3%.
- From 2023 to 2033, the United Kingdom acetyls industry is likely to register at a 3.6% CAGR.
- Through 2033, the Indian acetyls market to record a CAGR of 5.9%.
- The acetic acid segment of the product type category is predicted to have a market share of 23.9% by 2033.
- The pharmaceuticals segment to hold a market share of 38.4% in the end-user category between 2023 and 2033.
Competitive Landscape
Due to the various acetyls players fighting for market share, there is fierce rivalry in the Acetyls industry. Product quality, pricing tactics, technology breakthroughs, and client connections are important variables that affect competition. To maintain a competitive edge in this fast-paced industry, businesses must constantly innovate and set themselves apart.
Prominent Players of Acetyls Market
- V.
- BP plc
- Eastman Chemical Company
- Celanese Corporation
- Wacker Chemie AG
- Daicel Corporation
- The Dow Chemical Company
Get in Touch with Our Sales Team to Secure Your Copy of the Report Now!
Key Segments
By Product Type:
- Acetic Acid
- Acetic Anhydride
- Vinyl Acetate
- Formaldehyde
- Ethylene Acetate
- Others
By End-use Industry:
- Food & Beverages
- Oil & Gas
- Pharmaceutical
- Paints, Inks & Waxes & Coatings
- Furniture
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
