According to ChemAnalyst report, “India Acetic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, Port-wise Export, FY2015-FY2032”, The India Acetic Acid Market is likely to reach around 2000 thousand tonnes by FY2032, at a CAGR of 5.64% during the forecasted period. The end-use industries like Ethyl Acetate, Purified terephthalic acid (PTA), Acetic Anhydride, Monochloro Acetic Acid, and Others are anticipated to expand the India Acetic Acid Market in the upcoming times.
Acetic Acid is a colourless, liquid compound with a chemical formula of CH₃COOH. There are various chemical and fermentative processes that can be used to create acetic acid, with the chemical process predominating in the industrial usage. Most of the production processes involve the carbonylation of methanol promoted by an iodine compound and catalysed by a Rhodium catalyst or Iridium catalyst. The fermentative process is employed mainly for applications in food and beverage industry. Owing to its acidic composition, acetic acid gives food items a sour flavour and acts as a preservative. is also employed as a feedstock for acetic anhydride, cellulose acetate, acetate esters, chloroacetic acid, and a variety of other chemical synthesis.
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Acetic Acid is primarily employed by the Ethyl Acetate manufacturers. Ethyl acetate serves as a solvent for cellulose fibres, dry cleaning, dyes, varnish, lacquers, and other materials. It is extensively used for the production of Purified Terephthalic Acid (PTA), which is employed in the production of PET bottles. Moreover, The production of Vinyl Acetate Monomer (VAM), a crucial step in the production of a wide range of polymers. Acetic Acid is also employed to produce polymers to manufacture containers, thin films, textiles, resins, etc. Owing to rapid industrialization across India, the demand of these polymers and solvents are bound to rise which will most likely create a surge in the demand of Acetic Acid in the forecast period of FY2032.
The India Acetic Acid Market is segmented based on end-use, sales channel, and region. Based on end-use segment, the India Acetic Acid market is segmented into Ethyl Acetate, Purified terephthalic acid (PTA), Acetic Anhydride, Monochloro Acetic Acid, and Others. Ethyl Acetate segment is leading the market and held a share of roughly 40% in FY2022. Furthermore, Purified terephthalic acid (PTA) sector is also a leading consumer and is anticipated to swell the demand of Acetic Acid in the upcoming years.
Regionally, Indian Acetic Acid market is segregated into four regions based on regional consumption: West, South, North, and South. West India is expected to be the largest consumer even in FY2023. To meet the growing demand of food-grade acetic acid, Jubilant Ingrevia Limited recently commissioned a new green acetic acid plant in the first quarter of FY2023 with an annual capacity of 25 thousand tonnes per annum. The plant is aimed to meet standards of product certifications like FSSAI, ISO 22000, Kosher, FCC Codex, and Halal etc. To further boost the domestic production of Acetic Acid and meet the increasing demand for the same, there is a need to encourage a larger number of domestic manufacturers to emerge in the Acetic Acid market.
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“India Acetic Acid Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, Port-wise Export, FY2015-FY2032” As of FY2022, Gujarat Narmada Valley is the only producer of Acetic Acid in India.
“The rapidly increasing demand of acetic acid to manufacture polymers and solvents like Ethyl Acetate, Purified terephthalic acid (PTA), Acetic Anhydride, Monochloro Acetic Acid, and Vinyl Acetate Monomer (VAM) which are employed by various industries like paints & coatings, dyes, thinner, and packaging is expected to boost the India Acetic Acid Market in the forecast period until FY2032. Acetic Acid is utilized to synthesize Vinyl Acetate Monomer (VAM), a crucial compound in the production of a wide range of polymers and resins for sealants, films, paints & coatings, textiles. Owing to rapid industrialization, the demand of VAM will expand. Moreover, Acetic Acid is utilized in manufacturing dyes and inks which will result in expansion of Acetic Acid market in the upcoming times. Additionally, the demand for Acetic Acid is anticipated to further surge in the near term due to its application as a preservative agent in the food & beverage sector. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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