Global High-Purity Acetic Acid Market Research Report—Forecast till 2025

Market Overview

Global High-Purity Acetic Acid Market is anticipated to exhibit a CAGR of 5.16% and was valued at USD 8,826.0 Million in 2018. The acetic acid is a colorless liquid with strong pungent odor created by bacterial fermentation it is also called as glacial acetic acid. It is used in food preservation as an antimicrobial agent and as a natural preservative in vegetable pickling. The acetic acid with very high purity helps to control skin infection and acts effectively in the treatment for otitis externa. It is initially used as a solvent for treating infected burns and damages owing to its antiseptic properties.
The increasing use of glacial acetic acid as an acidity regulator in the food & beverage industry is estimated to drive the global high purity acetic acid market growth. The key factor fueling the market growth is the increasing utilization of high-purity acetic acid as vinyl acetate monomer (VAM), which is also used in the production of paints and coatings. Additionally, the rapid acceptance of acetic acid to manufacture etching solutions for semiconductor chips and various electronic applications is anticipated to produce substantial growth opportunities for market players during the review period.

Market Segmentation
The Global High-Purity Acetic Acid Market has been segregated based on Type, Application, and Region.
Based on the type segment, the global high-purity acetic acid market has been segmented into 99.9%, 99.8%, 99.5%, and others. Based on the application segment, the global high-purity acetic acid market has been segregated into paints, coatings and inks, food ingredients & supplements, textiles, pharmaceuticals, semiconductor chips and printed circuit boards (PCBs) and others.

Regional Analysis

The region-specific analysis of the Global High-Purity Acetic Acid Market has been segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

The Asia-Pacific market holds the largest market share of the global high-purity acetic acids market and covered 55% in 2018 and is estimated to command the market during study period owing to fast industrialization in the region, and expansion of the end-use industries such as construction, textile and semiconductor, and others. China is a leading contributor to the regional market because of its rapid industrial expansion especially in paints and coatings along with growing demand in the textile industry.

North America was the second-largest market contributor to the global high-purity acetic acid market in 2018 owing to the growing consumption of high-purity acetic acid in pharmaceutical and semiconductor chips and PCB circuits. The region is anticipated to expand at a CAGR of over 4.11% during the research period.

Major Players

Some of the prominent players operating in the Global High-Purity Acetic Acid Market are Mitsubishi Chemical Corporation (Japan), Eastman Chemical Company (US), Merck KGaA (Germany), Sipchem (Saudi Arabia), BP p.l.c. (UK), Celanese Corporation (US), LyondellBasell Industries Holdings B.V. (UK), Jubilant Life Sciences (India), Saanvi Corp (India), Tokyo Chemical Industry Co., Ltd (Japan), SHIJIAZHUANG XINLONGWEI CHEMICAL CO., LTD (China), Qingdao Hisea Chem Co.Ltd (China), and FINAR LIMITED (India).

COVID 19 Impacts
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