Acetyls Market Research, Size, Share, Growth, Trends
Posted by Mangesh Mahajan on December 16th, 2019
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The Global Acetyls Market is expected to witness a significant growth during the forecast period owing to the wide scope of application. The market is primarily driven by the use of acetylated products in pharmaceuticals for producing medicines such as paracetamol and aspirin. Additionally, the use of these products in food & beverage industry as a flavoring agent and preservative is another factor driving the demand for acetyls.
The Global Acetyls Market has been segmented on the basis of product type, application and region.
Based on product type, the market has been segmented into acetic acid, acetic anhydride, vinyl acetate, ethylene acetate, and others.
By application, the market has been segmented into food & beverages, pharmaceuticals, oil & gas, paints, inks, & coatings, waxes, furniture, and others.
The Global Acetyls Market has been segmented into five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the majority of the market share in 2017 due to the high demand for acetyls in food & beverage, pharmaceuticals, and paints & coatings application. The rising working population coupled with the high disposable income results in an increased demand for packaged food, which drives the demand for acetyls in food & beverage application. The extensive use of acetylated compounds such as acetic anhydride in production of generic drugs such as paracetamol and aspirin are another factor influencing the growth of the market. Furthermore, acetyls are used in paints & coatings, which are further used in major end-use industries such as construction, automotive, and electronics. The growth of these industries in developing nations such as India, Taiwan, Thailand, and Malaysia are projected to drive the market growth in the region during the forecast period.
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The European and North American market is expected to showcase significant growth due to the extensive of acetyls in paints & coatings, which are further used in end-use industries such as automotive, construction, electronics, aerospace, and military & defense as well as the food & beverage industries. The high disposable income and the luxurious living standards of the consumers in these regions is projected to propel the demand for acetyls in food & beverage application.
The presence of abundant oil & gas reservoirs in the Middle East & African region is projected to drive the market in this region.
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About the AuthorMangesh Mahajan
Joined: July 17th, 2019
Articles Posted: 502
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