Acetic acid is a chemical reagent which has a number of applications in the various sectors, for instance, the industrial sector. The acetic acid is a methane carboxylic or ethanoic acid which has a strong pungent smell and a very distinct sour taste. It is produced synthetically as well as by bacterial fermentation method. Acetic acid is not only used to produce household vinegar but also some other chemicals such as polyvinyl acetate and cellulose acetate. The acetic acid is used for a number of purposes such as food preservation, medical use, ester production, acetic anhydride, vinyl acetate monomer as well as a solvent.
Acetic acid has been used for the synthetic fiber and polymeric production since a very long period. It is mainly used in the food industry as an acidity regulator. For the household purposes, the dilute acetic acid is used in the descaling agents. The cellulose acetate is basically used in the photographic films, the polymers such as polyethylene terephthalate are used in the soft drink bottles, and the polyvinyl acetate is used to make the wood glue. Looking at its use, the demand for acetic acid is increasing throughout the globe.
“According to the report, the global acetic acid market accounted for USD 8.37 billion in 2015 and is expected to reach USD 13.65by 2021, growing at a CAGR of around 8.5% between 2016 and 2021.”
The demand for the acetic acid products is generally strong all over the year. As per the Indian analysts, the acetic acid market in India remained strong during from 2014 to 2015. The consumption of the product basically reduces in the winter season. The Indian acetic acid market is anticipated to grow at a CAGR of 6.5% between 2014 and 2017. Globally about 6–7 Million Metric Tons per Day of acetic acid consumed of which 1.5 Million Metric Tons per Day is met by recycling and the rest is met is produced using biological sources or petrochemical feedstocks.
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Geographically, the acetic acid market tends to reach heights in the regions including North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. The two major acetic acid producing companies are Celanese Corporation and BP Chemicals. The companies dominating the acetic acid market include Jiangsu Sopo Co. Ltd, LyondellBasell Industries N.V., SABIC, Kingboard Chemical Holdings Ltd, Sasol, Petro China, Daicel Corporation, and Eastman Chemical Company, Svensk Etanolkemi, Millennium Chemicals, Samsung, and Sterling Chemicals