November 18th, 2022
The global acetic acid market growth was USD 6.90 billion in 2020. The market is projected to grow from USD 7.29 billion in 2021 to USD 10.54 billion in 2028 at a CAGR of 5.4% during the 2021-2028 period.. The utilization of Vinyl Acetate Monomer (VAM) is powered by the rising demand for paints and coatings across the world, which nurtures the demand and growth of the market.
Information source: https://www.fortunebusinessinsights.com/acetic-acid-market-103386
Russia-Ukraine War Implication
The Russia-Ukraine war could change the market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The long-term implications of the Ukraine-Russia crisis will, in our view, lead to very different chemicals business models as supply chains de-globalise and as manufacturing is brought back home
The report on the acetic acid market involves:
Greater insights into the market
Profound analysis of the segments
Market drivers and restraints
Comprehensive information about prominent players
COVID-19 drastic effect on the market
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On the basis of application, the market is segregated into Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), ester solvents, acetic anhydride, and others. The vinyl acetate monomer (VAM) segment held a principal share in the market.
Geographically, the global market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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