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North America Acetic Acid Market Size (2024 - 2029)

The North American acetic acid market is experiencing a recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market's expansion is driven by increasing demand from the food and beverage sectors, as well as the paints and coatings industry, which are significant consumers of acetic acid. Despite challenges such as environmental concerns and rising raw material costs, the market is poised for growth, supported by advancements in production technologies. The United States is anticipated to lead the region in market size, reflecting its robust demand across various end-user industries.

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Market Size of North America Acetic Acid Industry

North America Acetic Acid Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 2.94 %
Market Concentration Medium

Major Players

North America Acetic Acid Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Acetic Acid Market Analysis

The North American Acetic Acid Market is estimated to reach 2.48 million tons by the end of this year and is projected to reach 2.86 million tons in the next five years, registering a CAGR of 2.94% during the forecast period.

The COVID-19 pandemic negatively impacted the market in 2020, owing to several restrictions imposed by the US, Canadian, and Mexican governments. The lockdown in these countries resulted in a production halt, affecting the acetic acid market. However, the market has been recovering well since restrictions were lifted. The market recovered significantly in 2021, owing to rising consumption from paints and coatings, food and beverage end-user industries in the region.

  • Over the short term, the increasing demand for vinyl acetate monomer (VAM), the rising demand from the food and beverage industries, and the growing use of ester solvents in the paints and coatings industry are driving the growth of the acetic acid market.
  • On the contrary, environmental concerns regarding the harmful effects and increasing prices of raw materials are hindering the growth of the studied market.
  • The development of new separation technologies to increase the production efficiency of acetic acid is expected to create opportunities for the market during the forecast period.
  • The United States is expected to dominate the market in North America. It is also expected to register the highest CAGR in the region due to the rising demand for acetic acid from paints and coatings, food and beverage, and chemical end-user industries in the region.

North America Acetic Acid Industry Segmentation

Acetic acid is a monocarboxylic acid containing two carbons. It is a clear, colorless liquid with a strong, pungent odor, like vinegar. Acetic acid can be derived from the carbonylation of methanol, the oxidation of acetaldehyde and ethylene, or a biological method like bacterial fermentation. It is used as a chemical reagent to produce several chemical compounds like acetic anhydride, ester, vinyl acetate monomer, vinegar, and many other polymeric materials.

North America's Acetic Acid Market is segmented by Derivatives (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Ethyl Acetate, Acetic Anhydride, and Other Derivatives), Application (Polymers, Food and Beverage, Adhesives, Paints and Coatings, Textiles, Medical, and Other Applications), and Geography (United States, Canada, and Mexico). Each segment's market sizing and forecasts are based on volume (Million tons).

Derivative
Vinyl Acetate Monomer (VAM)
Purified Terephthalic Acid (PTA)
Ethyl Acetate
Acetic Anhydride
Other Derivatives
Application
Plastics and Polymers
Food and Beverage
Adhesives, Paints, and Coatings
Textile
Medical
Other Applications
Geography
North America
United States
Canada
Mexico
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North America Acetic Acid Market Size Summary

The North American acetic acid market is experiencing a recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market is driven by increasing demand from various sectors, including paints and coatings, food and beverages, and the chemical industry. The United States is expected to lead the market, benefiting from its robust automotive, construction, and textile industries, which are significant consumers of acetic acid. The market's growth is also supported by advancements in separation technologies that enhance production efficiency. However, environmental concerns and rising raw material costs pose challenges to market expansion.

The acetic acid derivatives, such as ethyl acetate, butyl acetate, and vinyl acetate, play a crucial role in the adhesives, paints, and coatings industries, which are substantial markets in the United States, Canada, and Mexico. The growth in these industries, particularly in the United States, is fueled by the construction and automotive sectors, as well as the expanding textile and chemical industries. The market is partially consolidated, with major players like Celanese Corporation, INEOS, and Eastman Chemical Company actively participating in strategic initiatives to enhance their product offerings and production capabilities. These dynamics indicate a positive outlook for the acetic acid market in North America over the forecast period.

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North America Acetic Acid Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Vinyl Acetate Monomer (VAM)

      2. 1.1.2 Increasing Demand from the Textile and Packaging Industry

      3. 1.1.3 Increasing Use of Ester Solvents in The Paints and Coatings Industry

    2. 1.2 Restraints

      1. 1.2.1 Environmental Concerns Regarding the Harmful Effects

      2. 1.2.2 Increasing Prices of Raw Materials

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Derivative

      1. 2.1.1 Vinyl Acetate Monomer (VAM)

      2. 2.1.2 Purified Terephthalic Acid (PTA)

      3. 2.1.3 Ethyl Acetate

      4. 2.1.4 Acetic Anhydride

      5. 2.1.5 Other Derivatives

    2. 2.2 Application

      1. 2.2.1 Plastics and Polymers

      2. 2.2.2 Food and Beverage

      3. 2.2.3 Adhesives, Paints, and Coatings

      4. 2.2.4 Textile

      5. 2.2.5 Medical

      6. 2.2.6 Other Applications

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

North America Acetic Acid Market Size FAQs

The North America Acetic Acid Market is projected to register a CAGR of 2.94% during the forecast period (2024-2029)

Celanese Corporation, INEOS, Eastman Chemical Company, LyondellBasell Industries Holdings B.V. and SABIC are the major companies operating in the North America Acetic Acid Market.

North America Acetic Acid Market Report Snapshots

North America Acetic Acid Market Size & Share Analysis - Growth, Trends, and Forecasts (2024 - 2029)