ACETYLS MARKET ANALYSIS

Acetyls MarketSize and Trends

Market Outlook

• The market for acetyls is expected to exhibit growth owing to rising application of acetyl in various end-use industry applications such as pharmaceutical, furniture, and oil & gas coupled with strong research & developments in the these industries. Furthermore, acetyls find application as water-based paints, cellulose acetate, liquid crystal polymers, emulsifiers, and solvents to adhesives in several industries.
• Declining demand from solvent-based adhesives is projected to hinder growth of acetyl industry in the near future. However, growth of end-use industries is expected to be a major driver aiding in growth of the industry. According to India Brand Equity Foundation (IBEF), Indian pharmaceutical industry was valued at US$ 33 billion in 2017 and is estimated to reach 55 billion by the end of 2020, recording a CAGR of 22.4% during 2015 to 2020.
• Acetyl is required in wide range of applications in the pharmaceutical industry which includes manufacturing of paracetamols, relievers, and painkillers. The growth of pharmaceutical industry is expected to be a major driver for augmenting demand for acetyl in the forecast period.
• According to the International Federation of Pharmaceutical Manufacturers & Association, the research-based pharmaceutical industry invested over US$ 149.8 billion worldwide on pharmaceutical R&D in 2015 up from about 130.0 billion in 2010. Moreover, the global pharmaceutical industry is expected to reach US$ 1,430 billion by 2020.
• Among region, Europe and Asia Pacific accounted for significant share in the global market, owing to presence of large number of manufacturers in these regions. Moreover, increasing demand for acetyls from various end-use industries such as adhesives and automobiles along with expansion of these industries in Asia Pacific is expected to aid in growth of acetyls market in the region.
• According to International Organization of Motor Vehicle Manufacturers, the global production of commercial vehicles and cars was 94.97 million units in 2016 and reached 95.63 million units in 2018. This scenario is to positively impacting demand for acetyls in the forecast period.