Australia Acetic Acid Market Outlook

acetic acid, an organic compound commonly known as vinegar or spirit of vinegar, is the second most widely used industrial organic chemical. it is produced by catalytic oxidation of acetaldehyde or the hydrocarbons. australia is a major producer of acetic acid globally, used for applications such as textile, leather, paper, food/beverage, healthcare, cosmetics, adhesives, coatings, dyes and pharmaceuticals. the demand for acetic acid in australia is expected to remain positive and show moderate growth in the forecast period 2018-2032. the increasing demand for processed and packaged food items, cosmetics and pharmaceuticals, for both domestic as well as industrial purpose due to population growth is predicted to drive the market growth in australia in the forecasted period. acetic acid is a widely used food preservative in to prolong shelf life and avoid microbial spoilage of food items. growing applications of acetic acid in a variety of industries will increase the demand for acetic acid in the regional market. the rising demand for acetic acid for wastewater treatment due to increasing water scarcity and regulations imposed by local government for wastewater reuse is likely to further boost the market growth in the upcoming years. a positive outlook for downstream industries such as hygiene, healthcare, and energy is projected to increase the consumption of acetic acid. the surging exports of product as a solvent raw material in various applications such as leather, cosmetics, dyes, paints and coatings is projected to increase the usage of acetic acid. growing demand from the urban population for a range of therapeutic and preventive healthcare solutions is expected to give positive impetus to the market growth. the increase in demand for cheaper and more efficient alternative chemicals is projected to create growth opportunities for acetic acid in the industry over the forecast period. the price volatility of raw material such as methanol is expected to restrain the market growth. on the other hand, rising trends of digitization, r&d for bio-based products and recycling for reducing environmental impact of chemicals is projected to spur opportunities for the growth of acetic acid market.