Global Acetyls Market Report and Forecast 2024-2032

Global Acetyls Market Outlook

The global acetyls market size reached approximately USD 26.69 billion in 2023. The market is projected to grow at a CAGR of 5.4% between 2024 and 2032, reaching a value of around USD 42.95 billion by 2032.

Key Takeaways

• The Asia-Pacific region is expected to dominate the demand for acetyls over the forecast period.

• Expansion of existing acetyl production capacities by market players is expected to drive the market growth.

• The food and beverages sector is expected to emerge as a leading end user in the global acetyls market.

Acetyl refers to a type of chemical group which is made up of small molecules of two carbon, three hydrogen atoms, and one oxygen atom. Organic chemicals belonging to the acetyl group are versatile and are used in various end-use sectors.

The market is being driven by the growing demand for chemical intermediates, expansion of the pharmaceutical industry, and robust growth of the textile industry. Acetyl compounds serve as crucial intermediates in the production of various chemicals, including solvents, resins, and plasticisers.

They are essential for manufacturing active pharmaceutical ingredients (APIs) and drug formulations. Acetyls are also used in textile processing for enhancing fabric properties such as durability and colour retention. This is expected to drive the acetyls market expansion in the forecast period.

Key Trends and Developments

Growing use of polymers; rising demand for paints and coatings; rising burden of health diseases; and expansion of existing acetyl production capabilities are the major trends impacting the market growth.

Global Acetyls Market Trends

Th acquisition of Acetyls Holding Private Limited by Laxmi Organics Industries Ltd. is aimed at expanding Laxmi Organic's footprint in the speciality intermediates segment and enhancing its product portfolio. Yellowstone Chemicals, known for its expertise in speciality intermediates, complements Laxmi Organic's existing capabilities, enabling the company to offer a wider range of high-quality products to its customers. The acquisition strengthens Laxmi Organic's position in the market and is expected to drive the global acetyls market growth.

Acetyls are used in the production of various medical compounds, including vaccines, antiviral drugs, and diagnostic reagents. The demand for acetyls rises as healthcare providers and governments invest in preventive healthcare strategies to mitigate the spread of diseases and improve public health outcomes.

Acetyls also serve as vital building blocks in the synthesis of active pharmaceutical ingredients (APIs) and drug formulations. The development of new therapeutic drugs, including biologics and speciality medicines, is expected to contribute to the acetyls market development in the coming years.

Market Segmentation

“Global Acetyls Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

The food and beverages sector is expected to become a leading end user of acetyls globally.

The food and beverages sector accounts for a significant portion of the acetyls market share. Acetyls are used as flavour enhancers, stabilisers, texture-modifying agents, and anti-caking agents in a variety of foods. The thriving food and beverage sector, supported by the rising population and growing expansion of fast-food chains, is driving the segment’s growth.

Moreover, acetyls such as ethyl acetate are used in many fruit-flavoured beverages and sweets to enhance their flavour profile, which is further fuelling the global acetyls market growth. Acetyls also play a significant role in the global oil and gas industry, primarily as catalysts in various chemical processes. They are commonly used in the production of petrochemicals such as acetic acid, which serves as a precursor for many important chemicals, including vinyl acetate monomer (VAM), purified terephthalic acid (PTA), and ethylene vinyl acetate (EVA).

Competitive Landscape

Major market players are investing in the research and development of sustainable products from acetyls across various industries

Other key players in the acetyls market are Helm AG, Wacker Chemie AG, Sipchem Company, Saudi Basic Industries Corporation, Daicel Corporation, and Jubilant Ingrevia Limited, among others.

In February 2023, Celanese, a global chemical and speciality materials company, completed the expansion of its ethylene vinyl acetate (EVA) production capacity at its acetyl chain facility located in Edmonton, Canada. This expansion enhances Celanese's capability to meet the growing demand for EVA polymers, which find extensive applications across industries such as packaging, automotive, and consumer goods.

Global Acetyls Market Regional Analysis

The Asia Pacific is expected to rapidly grow in the forecast period. The robustly growing pharmaceutical sector in the region is driving the demand for acetyl-based products such as acetic anhydride as they are used in the manufacturing of medicines such as aspirin, sulpha drugs, and cortisone, among others. Moreover, leading chemical manufacturers across emerging economies like India are expanding their manufacturing capacities of acetic anhydride, which is fuelling the overall acetyls market growth.

North America also exhibits significant growth, fuelled by expanding industrial sectors and increasing investments in chemical manufacturing. The region benefits from abundant natural resources and a skilled workforce, facilitating the production of acetyls and related chemicals. Technological innovation and sustainability initiatives, along with a focus on eco-friendly production processes and renewable resources, further aid the market in the forecast period.

Key Highlights of the Report

Acetyls Market Report Snapshots

Acetyls Market Size

Acetyls Market Trends

Acetyls Market Regional Analysis

Acetyls Companies