[183 Slides Report] Acetic Acid Market is projected
to grow up to an estimated volume of 16,339.67 kilotons by 2018,
signifying a firm annualized growth rate of over 4.48% from 2013 to 2018. Its main
application segments include the manufacturing of vinyl acetate monomer (VAM),
purified terephthalic acid (PTA), acetic anhydride, and ester solvents (ethyl
acetate & butyl acetate).
With a share of about 5.88% of the overall market activities
recorded between 2010 and 2013, Celanese Corporation was the second most active
player in the acetic acid market. The company focuses on expansion activities
and agreements & collaborations to obtain wide presence and to enhance its
product portfolio. These two companies were the most dynamic players in adopting
various growth strategies.
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Drivers & Opportunities in global
industry:
·
Budding Vinyl Acetate Monomer Demand
·
Growing Textile & Packaging Industry
·
Growing Demand In Asia-Pacific
·
Increasing Penetration Of Ester Solvents In Coating Industry
·
Wave For Change Through Emerging Technologies For Acetic Acid
·
Upcoming Derivative Plants
The acetic acid market is quite fragmented due to the presence
of a large number of players. The Asia-Pacific region is estimated to be the
biggest market of acetic acid and is also the second fastest growing, after the
ROW market. The market is expected to show a significant growth in the future.
More than 5.8 million tons of upcoming capacities are in the planning phase.
Various market players have integrated their plants so as to reduce the impact
of external environment on plant economics.
The top five players accounted for about 54.17% of the global
market in 2012. Celanese Corp. (U.S.) was the leading market participant with
20.09% and 2,520.0 KT of production capacity globally at the end of 2012. The
company is among the key producers of specialty chemical products in the world
with segments including acetyl intermediates, advanced engineered materials,
consumer specialties, and industrial specialties.
As a part of its business strategy, the company is dedicated
towards creating value for itself and its customers by utilizing the full
breadth of its chemistry, technology, and global business expertise. It
accelerates its efforts towards enhancing its capabilities to deliver
innovative solutions for addressing the global needs. It recently developed its
TCX technology, which is energy-efficient and helps to meet the world’s energy
challenges. The company also focuses on expanding its business by entering into
joint ventures with other giant players to enhance its customer base and
augment its sales.
BP Plc (U.K.) was the second largest player with 16.42% of the
market share and 2,060.0 KT of acetic acid production capacity worldwide in
2012. The company has an active presence in more than 80 countries with its
operations in Europe, Americas, Asia-Pacific, Africa, and the Middle East.
As a part of its business strategy, BP Plc focuses on
developing and deploying the next generation of advantaged technologies. It
accelerates its efforts on the efficient growth of its operations and aims to
create a distinguished platform for growth over the long term. Its proprietary
processing technologies help to reduce the production costs and environmental
impact of its plants, and also enable to maintain competitive advantage in PTA
(Purified terephthalic acid) and acetic acid line of business. The company
undertakes expansion activities and enters into joint ventures & agreements
with giants in order to invest in new markets and to enhance margin capability
of its business.
In terms of market activities, BP Plc was the most active
player from 2010 to 2013 with a share of 13.73% of the total development
activities traced. The company accelerated its efforts to enhance its brand
image and to be on the same page with the market trends by undertaking expansion
activities of its existing plants, setting up new plants, and also by entering
into joint ventures with other giant players in the market.
The top manufacturers include BP Plc
(U.K.), Celanese Corporation (U.S.), Eastman Chemical Company (U.S.), Shanghai
Huayi (Group) Company (China), Daicel Corporation (Japan), LyondellBasell
Industries N.V. (The Netherlands), Shandong Hualu-Hengsheng Chemical Co. Ltd.
(China), Yankuang Cathay Coal Chemicals Co. Ltd. (China), Jiangsu Sopo (Group)
Co. Ltd. (China) and Kingboard Chemical Holdings Ltd. (HongKong).
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Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com
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