Product Code: ETC411740 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India acetic acid market import shipments witnessed a robust compound annual growth rate of 12.0% from 2020 to 2024. The growth rate slightly moderated to 9.0% between 2023 and 2024, indicating a sustained expansion trend with a slight slowdown in recent years.
The India acetic acid market plays a vital role in various industries, including chemicals, pharmaceuticals, and food processing. Acetic acid is a versatile chemical used in the production of a wide range of products, from industrial chemicals to food preservatives. India growing industrial base and demand for processed food contribute to the market`s growth. The increasing need for high-quality acetic acid products and raw materials ensures that this market remains an essential component of India chemical industry.
The India acetic acid market is driven by its wide range of industrial applications, with a primary focus on the chemical and pharmaceutical sectors. Acetic acid is used in the production of various chemicals, solvents, and pharmaceutical intermediates. The market`s growth is influenced by the expanding chemical and pharmaceutical industries in India, as well as the increasing need for high-purity acetic acid. Government policies, environmental regulations, and technological advancements in acetic acid production also contribute to the market`s development.
Challenges in the acetic acid market include price volatility of raw materials, environmental concerns, and regulatory compliance. Acetic acid production often depends on raw materials like methanol and carbon monoxide, which can experience price fluctuations. Adhering to environmental regulations and ensuring a safe and sustainable production process are ongoing challenges.
The India acetic acid market experienced disruptions during the COVID-19 pandemic. With restrictions on industrial activities and manufacturing, demand for acetic acid, a key chemical in various industries, fluctuated. The market faced challenges in production and distribution, impacting the supply chain. However, as industries adapted to the new normal and demand for acetic acid remained essential in many applications, the market eventually stabilized and started to recover.
The India Acetic Acid Market is influenced by key players who manufacture and supply acetic acid, a crucial chemical compound used in various industries. Prominent companies in this sector include Jubilant Life Sciences, GNFC (Gujarat Narmada Valley Fertilizers & Chemicals Limited), Atul Limited, and Fineotex Chemical Limited. They play a vital role in fulfilling the demand for acetic acid, which is used in applications such as textiles, food preservation, and chemical manufacturing, supporting various industries in India.