The size of the acetyls market was $26,574. million in 2021, and will reach $43,337 million by 2030, advancing at a rate of 6 % in the near future. This has a lot to do with the increasing use of such chemicals in paints & coatings, construction, F&B industries and; growing requirement for drugs and the high R&D outlay, and advantageous government regulations for the pharma industry.
Acetic acid was the most demanded, and this will continue in the future as well. This is because of its extensive use in the creation of plastics along with cosmetic products and as a solvent in inorganic and organic compounds.
Vinyl acetate monomer had a significant share in the past. This can be credited to the increasing requirement for adhesives and emulsions in the construction and packaging sectors.
APAC was the regional dominator in the past, and will continue in the future as well. This can be credited to the enormous population and rapid urbanization and industrialization. Furthermore, the snowballing purchasing power and increasing living standards have allowed people to spend more on vehicles, furniture, housing, processed food and beverages and electronic gadgets.
Europe will also have substantial growth in the future because of the high requirement for paints and coatings in the automotive industry, budding F&B sector, because of the increasing population; and thriving chemical sector. Furthermore, the demand for these sorts of chemicals from the textile and construction sectors is on the rise.
It is because of the use acetyls in various industries, that the demand for the same is increasing day-by-day all across the globe.
