India Acetic Acid Market to Grow with a CAGR of 4.06%through 2029
Growing demand of Acetic Acid from paints and coatings and pharmaceutical
industries is expected to drive the India Acetic Acid Market growth in the
forecast period, 2025-2029.
According to TechSci Research report, “India Acetic
Acid Market- By Region, Competition, Forecast and Opportunities,
2019-2029”, the India Acetic Acid Market stood at 1.86 million tons in 2023 and
is anticipated to grow with a CAGR of 4.06%in the forecast period, 2025-2029.
The initiatives taken by government based on acetic acid has led to favorable
market conditions for the India Acetic Acid Market. Several factors contribute
to the growth of various acetic acid products.
The Government of India has initiated a
population-based cancer screening program, which includes cervical cancer
screening. Visual Inspection with Acetic Acid (VIA) is being employed as a
screening technique for the detection of cervical cancer. The Indian government
is actively focusing on efforts to prevent cervical cancer and achieve the
targets set by the World Health Organization for its elimination by 2030.
Additionally, the government is implementing measures to regulate and control
the manufacturing and distribution of acetic anhydride, a substance prone to
misuse in the illicit production of drugs, in order to curb its diversion.
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Acetic acid, a versatile compound, demonstrates
remarkable solubility, volatility, and compatibility with various resins and
polymers employed in the paints and coatings industry. This multifaceted
substance boasts exceptional properties that make it a preferred choice among
formulators. With its impressive ability to dissolve pigments, acetic acid
greatly contributes to improving adhesion and enhancing drying characteristics
in paints and coatings. This attribute, combined with its compatibility with a
wide range of resins and polymers, ensures optimal performance and durability.
In recent years, the paints and coatings industry has
witnessed a significant shift towards water-based formulations due to
increasing environmental regulations and consumer preferences for eco-friendly
products. Acetic acid plays a crucial role in this transition, serving as a
coalescing agent and pH adjuster in water-based paints and coatings. This not
only enhances its demand but also reinforces its position as a key ingredient
in the formulation of environmentally friendly coatingsFurthermore, the
thriving automotive industry in India, experiencing steady growth, necessitates
high-performance coatings for vehicles. Acetic acid finds extensive application
in the formulation of automotive paints, offering exceptional durability,
corrosion resistance, and aesthetic appeal. Its incorporation ensures that
automotive coatings meet the stringent requirements of the industry while
delivering long-lasting protection and an appealing finish. The versatility,
compatibility, and performance-enhancing characteristics of acetic acid make it
an indispensable component in the paints and coatings industry, catering to the
evolving needs of formulators, environmental regulations, and the ever-growing
automotive sector.
Active Pharmaceutical Ingredients (APIs) play a vital
role in the formulation of drugs, serving as crucial components. One such API
is acetic acid, which finds extensive use in the manufacturing process of
numerous APIs, including antibiotics, analgesics, and antipyretics. With its
multifaceted functions as a solvent, reaction catalyst, and pH regulator,
acetic acid emerges as an indispensable ingredient in the production of APIs,
ensuring their quality, efficacy, and safety for patients worldwide.
India
Acetic Acid Market is segmented into application, end user, regional
distribution, and company
Based on its application, the purified terephthalic
acid segment held the largest market share in the forecast period. Purified terephthalic
acid is commonly utilized in the development of polyester coatings for various
applications such as general metal, home appliances, automobiles, and coil
coatings. The demand for purified terephthalic acid is driven by its excellent
chemical and stain resistance, high weatherability, and favorable glass
transition balancing, along with its ability to maintain high flexibility
within appropriate temperature ranges.
Acetate esters, derived from acetic acid, find
significant use in the manufacturing of paints, coatings, and printing inks.
The global demand for paint and coatings is influenced by the increasing desire
of consumers to enhance the aesthetics of their homes, as well as the thriving
automotive industry, which drives the demand for paints due to increased
vehicle sales. This has a direct impact on the global demand for acetate
esters.
Ethyl acetate, formed by the esterification of ethanol
and acetic acid, serves as a widely used diluent and solvent. This highly
sought-after chemical is valued for its low toxicity and cost-effectiveness.
Ethyl acetate, produced from ethanol, is utilized in paints and perfumes that
evaporate quickly, leaving a pleasant fragrance on the skin.
Based on region, West India segment is expected to
grow during the forecast period. The remarkable growth of the acetic acid
market can be attributed to the surging demand for this versatile compound
across a wide range of industries. Specifically, industries such as
construction, pharmaceuticals, automotive, and textiles are driving the
increasing need for acetic acid. In the construction sector, acetic acid is
utilized in the production of adhesives, sealants, and coatings, while in the
pharmaceutical industry, it plays a pivotal role in the development and
manufacturing of medicines. The region's booming pharmaceuticals industry,
coupled with the growing reliance of consumers on medicinal tablets, has
further fueled the demand for acetic acid. As a result, the overall demand for
this indispensable chemical compound in the region continues to soar.
Major companies operating in India Acetic Acid Market
are:
- Indian Oil Corporation
- Pentoky Organy India Limited
- Gujarat Narmada Valley Fertilizers &
Chemicals Limited
- Jubilant Ingrevia Limited
- Tanfac Industries Ltd.
- GODAVARI BIOREFINERIES LTD.
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“Growing application of acetic acid in various end
user industries are key drivers of the acetic acid market. Growth in
competitive landscape and presence of well-established countries in the market
who are dedicated to enhance their productivity of acetic acid with every
passing year are anticipated to register an impressive growth to India Acetic
Acid Market in the forecast period.,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“India
Acetic Acid Market By Application
(Vinyl Acetate Monomer, Purified Terephthalic
Acid, Acetate Esters, Ethanol, Others), By End User (Food & Beverage,
Plastic & Polymers, Paints & Coatings, Pharmaceutical, Others), By Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of India Acetic Acid Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Acetic Acid Market.
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