The demand for purified terephthalic acid (PTA) is growing at a rapid pace. PTA is utilized widely in the production process of polyester, including polyethylene terephthalate bottle resins, polyester fiber, and polyester film. The demand for polyester fiber in countries such as India and China is high, as it is utilized in the production of fabrics for home furnishing and apparel. The growth of the textile industry, owing to the rising disposable income and expansion of the e-commerce industry is also driving the demand for polyester fiber across the globe.
Other than this, PET bottles are used extensively by the food and beverages industry in storage applications for different products, such as sports drinks, soft drinks, fruit juices, dressings, oils, and sauces. All these factors are resulting in the growing demand for PTA, which, in turn, is driving the requirement for acetyls around the globe. Acetyls are a group of chemicals that are utilized as intermediates for a number of applications, such as solvents in water-based paints and adhesives. It is because of these factors that the global acetyls market is projected to progress at a significant rate in the coming years.
These organic compounds consist of methyl group that is reacted with a carbonyl by having a single bond. The chemical process of formulating acetyl group into a molecule is referred to as acetylation. Acetyls are present in acetylcholine, acetylsalicylic acid, acetylcysteine, acetaminophen, and acetic acid. Different product types of acetyls are acetic anhydride, acetic acid, ethyl acetate, and vinyl acetate monomer. Out of all these, the demand for acetic acid was the highest in the past and the situation is predicted to remain the same in the near future as well.
Acetic acid is an important ingredient for the manufacturing of a number of chemicals, when are then utilized in end-use industries such as food & beverages, textiles, inks, and synthetic fibers. Apart from this, the demand for vinyl acetate monomer (VAM) is also expected to increase considerably in the near future, since it is used as an intermediate in the manufacturing of various homopolymers and copolymers, such as polyvinyl acetate, ethylene vinyl alcohol, and polyvinyl acetate. These products are then utilized in several industries, namely paints & coatings, paper and packaging, and textiles. In addition to this, VAM is also utilized in the manufacturing of adhesives.
When geography is taken into consideration, the Asia-Pacific (APAC) region emerged as the largest acetyls market in the past. This can be majorly attributed to the growth of several industries, such as construction, packaging, and furniture, in countries including China and India. In the region, China is the major consumer of acetyls, the reasons for which are rising demand from the paints & coatings industry, expansion of the textile industry, and increasing demand for adhesives in construction and furniture industries in the country.
Hence, the demand for acetyls is growing due to their wide consumption in the formulation of PTA and growth of the end-use industries.
