Saudi Arabia Acetic Acid Market Outlook

Synopsis
The above chart is Saudi Arabia Acetic Acid Market Outlook (2018 to 2032)

Market Dynamics

saudi arabia acetic acid market outlook has been getting brightened day by day as the demand for the chemical has been continuously growing in the petrochemical industry. with the stringent emission standards and environmental regulations, the use of acetic acid has been increased in the production of alkyd resins and phosphoric acid esters. acetic acid is used in various applications such as glues, paints, printing inks, and solvents. in saudi arabia, the demand for acetic acid has mainly emerged from paints and printing inks sector. the demand for pure acetic acid is abundantly used in syrups, soft drinks, and food grade preservatives. owing to its reliable heat & humidity resistance properties, it is also used for the cosmetic industry, photography, electroplating, wood stains, varnishes, and lacquers among others. the electricity & co-generation regulatory authority (ecra) has mandated the development of renewable energy in the kingdom in order to meet the expected 8.7% increase in electricity demand of by 2032. this will result in the emergence of green initiatives and technologies which will be prominent in the industry all over the kingdom, which will consequently increase the demand for acetic acid. furthermore, the increase demand for packaged drinks and the expansion of the hospitality sector in saudi arabia is expected to boost the overall demand of acetic acid in the forecast period. in saudi arabia, the primary manufacturers are saudi acetyls (saac) and national chemical carriers (ncc).these companies have invested a huge amount of capital in research & development activities to schema their acetic acid process technologies in order to increase production efficiency and meet the future demand. apart from this, the significant growth in the downstream sector of acetic acid such as propylene glycol, acetic anhydride, vinyl acetate monomer, and acetic esters has increased the manufacturing level of the production capacity of the material. overall, the increasing demand from end-user sectors and the ongoing progress in the saudi arabia acetic acid industry is expected to fuel the growth of the chemical in the future.