Singapore Acetic Acid Market (2025-2031) | Outlook, Industry, Value, Share, Forecast, Size, Revenue, Analysis, Trends, Companies & Growth

Singapore Acetic Acid Market Highlights

Topics Covered in the Singapore Acetic Acid Market Report

The Singapore Acetic Acid market report thoroughly covers the market by application and competitive Landscape. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Singapore Acetic Acid Market Synopsis

The demand for acetic acid in Singapore has been growing steadily over the years. The main drivers of the demand are the electronics, food, and textile industries. Additionally, one of the factors driving the growth of the Singapore acetic acid market is the country's strategic location. Singapore is geographically situated in a prime location to serve as a hub for distribution to the rest of Southeast Asia. This has made the country an attractive location for global companies to set up their operations. Furthermore, Singapore has a robust infrastructure, a skilled workforce, and a favorable business environment, which has helped to attract investors to the country. However, despite its growth, the Singapore acetic acid industry does face several significant challenges. The fluctuating prices of raw materials, especially methanol, which accounts for over 50% of the production cost, can impact the growth of the market. Moreover, the shortage of skilled labor can pose a challenge to the sector. The high competition in the ASEAN acetic acid market from countries like Thailand and South Korea also poses a competitive threat to Singapore.

According to 6Wresearch, Singapore Acetic Acid market size is projected to grow at a CAGR of 9.2% during 2025-2031. The Singapore acetic acid market is expected to grow steeply over the next few years. The market is driven by the increasing demand for acetic acid in the textile industry. The use of acetic acid in the textile industry is increasing due to its properties, such as being an excellent solvent for cellulose acetate fibers and contribution to flame retardation. Furthermore, acetic acid is used in the production of photographic chemicals, flavors, and fragrances, which are other significant growth drivers of the Singapore acetic acid market. Further, another growth driver for the Singapore acetic acid market is the increasing demand in the plastics industry. Acetic acid is used for the production of polyvinyl acetate, which is used in manufacturing paints, adhesives, and films. Moreover, the increasing demand for acetic acid in the synthetic fiber industry from Asia is another important factor driving the growth of the Singapore acetic acid market.

Government Initiatives Introduced in the Singapore Acetic Acid Market

The Singapore government has been proactive in promoting the growth of the acetic acid market. One of the key initiatives is the development of industrial parks that provide a conducive environment for businesses to operate. For example, the Jurong Island Chemicals Hub is a one-stop center for chemical companies, providing infrastructure, logistics, and regulatory support. Similarly, some of the programs have increased the Singapore Acetic Acid Market Share. Further, the government has also introduced tax incentives and grants to attract foreign investment and encourage local research and development. The Economic Development Board (EDB) offers various incentives such as tax exemptions and grants for capital expenditure. These initiatives help to reduce the business cost and improve competitiveness in the market.

Key Players in the Singapore Acetic Acid Market

The Singapore acetic acid market is witnessing significant growth due to the rise in demand from the chemical industry. Key players such as Celanese Singapore, Eastman Chemical, and Kao Chemicals have been expanding their production capacities to meet the growing demand for acetic acid in the region. The competition in the market is intense, with several major players operating. Moreover, few of the firms’ also grip massive Singapore Acetic Acid Market Revenues.  Furthermore, as the demand for acetic acid continues to grow, it will be interesting to see how the market evolves over the next few years.

Future Insights of the Singapore Acetic Acid Market

The Singapore Acetic Acid market is projected to grow in the coming years, driven by various factors such as increasing demand in various industries, government's support towards enhancing the manufacturing capacity, and the need to embrace ecological responsibility. With notable players already established in the market, new players will have to adopt innovative and modern technology in their production to compete effectively. Singapore's Acetic Acid Market is poised for growth, and we expect notable investments in the coming years, with increasing adoption of eco-friendly manufacturing processes and the establishment of new manufacturing sites.

Market Analysis by Product Type

According to Ravi Bhandari, Research Head, 6Wresearch, the two primary grades of acetic acid products available in Singapore are Glacial Acetic Acid (GAA) and Industrial Grade Acetic Acid (IGAA). GAA is highly concentrated, with a purity of more than 99.5%, and is mainly used in the production of VAM, which finds application in emulsifiers, coatings, and adhesives. On the other hand, IGAA has a purity of around 98%, with its main application being in the production of polymers, dyes, and resins.

Market Analysis by Application

Acetic acid is a crucial chemical compound used in a wide range of applications. Vinyl Acetate Monomer is the largest application of acetic acid in Singapore. This chemical is used to manufacture adhesives, paints, coatings, and textiles. The demand for VAM has been on the rise owing to increased global demand for consumer products such as packaging, clothing, and automobiles. In Singapore, VAM is manufactured at the Jurong Island Chemical hub, which is one of the largest chemical manufacturing facilities in the world. Moreover, acetic anhydride is another major application of acetic acid in Singapore. This chemical is mainly used to manufacture cellulose acetate. Cellulose acetate is a polymer that is widely used in the production of cigarette filters, eyeglass frames, and photographic films. Acetic anhydride is also used as a reagent in the synthesis of other chemicals such as pharmaceuticals and pesticides.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2021 to 2024.
• Base Year: 2024.
• Forecast Data until 2031.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Singapore Acetic Acid Market Overview
• Singapore Acetic Acid Market Outlook
• Singapore Acetic Acid Market Forecast
• Market Size of Singapore Acetic Acid Market, 2024
• Forecast of Singapore Acetic Acid Market, 2031
• Historical Data and Forecast of Singapore Acetic Acid Revenues & Volume for the Period 2021-2031
• Singapore Acetic Acid Market Trend Evolution
• Singapore Acetic Acid Market Drivers and Challenges
• Singapore Acetic Acid Price Trends
• Singapore Acetic Acid Porter's Five Forces
• Singapore Acetic Acid Industry Life Cycle
• Historical Data and Forecast of Singapore Acetic Acid Market Revenues & Volume By Application for the Period 2021-2031
• Historical Data and Forecast of Singapore Acetic Acid Market Revenues & Volume By Vinyl Acetate Monomer for the Period 2021-2031
• Historical Data and Forecast of Singapore Acetic Acid Market Revenues & Volume By Acetic Anhydride for the Period 2021-2031
• Historical Data and Forecast of Singapore Acetic Acid Market Revenues & Volume By Acetate Esters for the Period 2021-2031
• Historical Data and Forecast of Singapore Acetic Acid Market Revenues & Volume By Purified Terephthalic Acid for the Period 2021-2031
• Historical Data and Forecast of Singapore Acetic Acid Market Revenues & Volume By Ethanol for the Period 2021-2031
• Historical Data and Forecast of Singapore Acetic Acid Market Revenues & Volume By Others for the Period 2021-2031
• Singapore Acetic Acid Import Export Trade Statistics
• Market Opportunity Assessment By Application
• Singapore Acetic Acid Top Companies Market Share
• Singapore Acetic Acid Competitive Benchmarking By Technical and Operational Parameters
• Singapore Acetic Acid Company Profiles
• Singapore Acetic Acid Key Strategic Recommendations

Markets Covered

The Singapore Acetic Acid market report provides a detailed analysis of the following market segments:

By Application

• Vinyl Acetate Monomer
• Acetic Anhydride
• Acetate Esters
• Purified Terephthalic Acid
• Ethanol
• Others