ACETIC ACID MARKET ANALYSIS

Acetic Acid MarketSize and Trends

The global acetic acid market was estimated to be valued at more than US$ 13.34 Billion in terms of revenue in 2022 and is predicted to grow at a CAGR of 9.7% during the forecast period (2023 to 2030).

Shifting inclination of the key manufacturers toward increasing the production capacity of acetic acid is one of the key trends in the market. For instance, in January 2020, Celanese announced that it expanding its acetic acid facility in Clear Lake, Texas. The Celanese has expanded its acetic acid facility from 1.3m tones/year to approximately 2m tones/year. The expansion will facilitate productivity options within its global acetic acid network in both Singapore and Nanjing, China. Increasing consumption of acetic acid across the food & beverage industry is fueling market growth. Acetic acid is used as a condiment and acidity regulator in food products. Increasing spending of consumers on food products due to the growing health wellness trend and rising demand for food products is fostering the market growth of acetic acid. Thus, the expansion of the food &beverage industry is augmenting the market growth of acetic acid