The glacial acetic acid market is growing at a substantial rate and is expected to continue to grow in the coming years. Demand for the chemical, textile, and packaging industries, primarily in Asia-Pacific, is driving this growth. Purified terephthalic acid, an important feedstock of acetic acid to produce, is used to manufacture textiles and packaging. Its characteristic as an environmentally friendly solvent has created channels for growth opportunities as well.
Factors driving growth in the glacial acetic acid market include an increasing number of companies embracing bio-based acetic acid in order to respond to increasingly stringent environment-related regulations and the rising demand for eco-friendly products. Acetic acid is also an intermediate in the manufacturing of cellulose acetate, a kind of biodegradable plastic. Environmental concerns are largely fuelling the demand for bioplastics. There are also several closed-loop production processes currently being undertaken to avoid excessive generation of waste and reduce ecological degradation. This is done through the recycling of acetic acid and its byproducts.
Despite this, raw material price volatility and energy costs are some of the obstacles to growth in the market. However, there are several opportunities for growth in the glacial acetic acid market in the coming years. Asia-Pacific holds a notable share of the market, with India being one of the biggest regional players, followed by China. The United States is also an emerging market for bio-based acetic acid with an abundance of natural gas reserves, which is one of the many raw materials needed during processing.
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Published by Saurabh Bidwai
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