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Acetic acid, also known as ethanoic acid, is a colourless liquid organic compound having a characteristic pungent smell and sour taste. It is prepared by bacterial fermentation or oxidation of ethanol.
Acetic acid has been classified as a weak acid and has numerous applications in various industries like pharmaceutical, construction, water treatment, rubber, plastics, etc. Vinegar, which is dilute acetic acid, is used as a food ingredient in kitchen. Acetic acid is also used in the manufacture of vinyl acetate monomer (VAM), purified terepthalic acid (PTA), acetate esters, etc. According to a new report by Expert Market Research, the global acetic acid market reached a value of USD 23.23 billion in 2023 and is further expected to reach a value of around USD 36.36 billion by 2032.
The production of acetic acid has observed a significant growth during 2018-2023. VAM, the largest end-use industry of acetic acid, is used in manufacture of a number of polymers and resins for coatings, adhesives, paints, etc. As a result, the production of acetic acid is booming. Moreover, the rise in the production of other end-products such as PTA, ethylene-vinyl acetate (EVA) copolymers, ethyl acetate and butyl acetate, etc. involving the consumption of acetic acid has also led to an increase in its demand. Population growth, emerging markets and government policies are some of the other factors stimulating the market growth.
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