Latin America Acetic Acid Market Size & Outlook, 2022-2030
Latin America acetic acid market, 2018-2030 (US$M)
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Latin America acetic acid market highlights
- The Latin America acetic acid market generated a revenue of USD 1,034.9 million in 2022.
- The market is expected to grow at a CAGR of 6.4% from 2023 to 2030.
- In terms of segment, vinyl acetate monomer was the largest revenue generating application in 2022.
- Vinyl Acetate Monomer is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 1,034.9 million |
| Market revenue in 2030 | USD 1,695.7 million |
| Growth rate | 6.4% (CAGR from 2022 to 2030) |
| Largest segment | Vinyl acetate monomer |
| Fastest growing segment | Vinyl Acetate Monomer |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vinyl Acetate Monomer, Acetic Anhydride, Acetate Esters, Purified Terephthalic Acid, Ethanol |
| Key market players worldwide | Eastman Chemical Co, Celanese Corp Class A, LyondellBasell Industries NV Class A, SABIC, Helm AG, Daicel Corp, Dow Inc, INEOS, Indian Oil Corporation, Gujarat Narmada Valley Fertilizers & Chemicals |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.0% of the global acetic acid market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 8,194.4 million by 2030.
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Acetic Acid Market Scope
Acetic Acid Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America acetic acid market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to acetic acid market will help companies and investors design strategic landscapes.
Vinyl acetate monomer was the largest segment with a revenue share of 40.94% in 2022. Horizon Databook has segmented the Latin America acetic acid market based on vinyl acetate monomer, acetic anhydride, acetate esters, purified terephthalic acid, ethanol covering the revenue growth of each sub-segment from 2018 to 2030.
The food & beverage and pharmaceutical are the major industries impacting the growth of acetic acid consumption in the region. The acetic acid market is predicted to grow steadily in the coming years as demand for ready–to–eat and convenient meals rises, resulting in increased food processing activity.
The acetic acid market will be driven by the processed food industry's expansion, which will be powered by rising consumer disposable income and an increase in the number of young professionals over the forecast period. On the other hand, the pharmaceutical industry is also a growing tremendously in the region. Health awareness among people has increased post COVID which has driven the pharmaceutical sector in Brazil, Argentina, and other countries.
Increasing expenditure on personal health has impacted the demand for generic medicines and OTC medicines, which, in turn, has impacted demand for acetic acid market that is used as raw material in many medicines. The pharmaceutical industry contributes extensively to the demand for acetic acid in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America acetic acid market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America acetic acid market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America acetic acid market size, by country, 2018-2030 (US$M)
Latin America Acetic Acid Market Outlook Share, 2022 & 2030 (US$M)
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