Axiom Market Research & Consulting™ added a report on U.S acetic acid. Report includes estimation and forecast of volume of acetic acid consumption in terms of KT (kilo tones) and in terms of revenue (in USD million) by the applications for 2019 to 2024. The U.S. acetic acid market revenue is estimated to grow at a CAGR between 2 – 3 % during the period under consideration 2015 to 2021. The U.S. accounted more than 80% of market share of the North American acetic acid market in 2015. More than 50% of acetic acid was consumed for the production of Vinyl acetate monomer in 2015.
Acetic acid is a clear colorless liquid with a strong pungent odor carboxylic acid. It is an important raw material used in the manufacturing of various other chemicals that serve diverse end user industries. It is also the main component of vinegar and it’s most common uses are as a solvent for various industrial processes, in the manufacture of synthetic fibers & textiles, inks & dyes, rubbers & plastics, pesticides, etc. Preliminary acetic acid is produced by the methanol carbonylation technique wherein methanol and carbon monoxide react to produce acetic acid.
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The market is driven by factors such as increasing demand of acetic acid the production of vinyl acetate monomer which is widely used in production of for polyvinyl acetate which is used to manufacture adhesives, paints, coatings for flexible substrates and