The Europe Acetic Acid Market size was at 1.7 Million Tons in 2022 and is expected to reach 1.6 Million Tons by 2028, projecting a growth rate (CAGR) of 1.6% during 2023-2028.
Acetic acid, commonly referred to as vinegar acid, is a strong-smelling liquid that is clear and colorless. It has two carbon atoms and is a member of the class of compounds known as organic acids. Although there are several ways to create acetic acid, employing methanol is the most typical one. There are numerous applications for acetic acid. Due to its ability to destroy hazardous bacteria and fungi, it is used in meals to regulate acidity and preserve food. It is safe and environmentally benign because it is an effective solvent and easily degrades in the environment. Acetic acid is employed in a variety of sectors because of its low toxicity and capacity to combat bacteria, fungus, and viruses. It aids in the production of a variety of substances, including vinyl, metal, and cellulose acetate. As well as that, it’s a component of plastics, food, beverages, inks, paints, chemicals, and medications.
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Market Drivers and Restraints:
To ensure that personal care items like shampoos and soaps are safe for our skin and hair, acetic acid is a common ingredient in cosmetics. In order for these goods to be safe for us, it helps balance their acidity. The popularity of customized shampoos and other cosmetic products for various skin and hair issues has increased the need for acetic acid. Another chemical called EDTA may also be present in shampoos and soaps; it aids in the production of a thick lather and improves cleaning. As a result, there is now an even greater need for acetic acid, which is fueling the expansion of the European acetic acid market. In Europe, the market for cosmetics is constantly expanding as new and cutting-edge products are released. Along with acetic acid, tartaric acid and citric acid are also present in natural vinegar. These acids are utilized in a variety of skin care products, including mouthwash and breath fresheners, as well as hair care items like conditioners and shampoos. Vinegar has unique qualities that make it useful for healing infections, caring for wounds, and treating some skin diseases, such as its ability to combat germs and function as an antioxidant.
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THE REPORT IS SEGMENTED AS FOLLOWS:
Vinyl Acetate Monomer
Purified Terephthalic Acid
By End-Use Industry
Food & Beverage
Plastic & Polymers
Paints & Coatings
Middle east and Africa
Impact of COVID-19 pandemic on the market:
Global economy were significantly impacted by the COVID-19 pandemic, which also caused supply networks in some industries to fall down. The pandemic also had an impact on the acetic acid market in Europe. The demand from various industries affects both product production and consumption. The demand for this specific product was directly impacted by the varying demand in various industries. Chemical industries, who utilize this substance extensively, shut down during the pandemic. As a result, there was less demand for acetic acid in Europe. However, the market started to show indications of improvement and recovery as trade restrictions started to loosen and sectors started to reopen in the latter part of 2020.
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