The famous energy consulting company IHS Chemical Co., Ltd. said last week that global demand for acetic acid is expected to grow at an average annual rate of about 5% in the next few years and reach 15.5 million tons by 2016. During this period, the global acetic acid production capacity will add 2.7 million tons, and the total global acetic acid production capacity will reach 19.6 million tons. If the global new acetic acid capacity is planned to take place in recent years, the global acetic acid capacity utilization rate will gradually increase from less than 70% in 2012 to nearly 80% in 2016.
In 2011, the global acetic acid production capacity was 16.9 million tons, of which Northeast Asia accounted for 57% of the world's total production capacity, North America accounted for 20%, Southeast Asia accounted for 8%, Europe accounted for 6%, Africa / Middle East accounted for 4% The CIS and Baltic states accounted for 3% and the Indian subcontinent 1%.
Experts from IHS Chemicals pointed out that 94% of the world's new acetic acid production capacity will occur in Asia from 2011 to 2016, of which China will account for about 66% and Taiwan will account for 15%. In the past five years, with the exception of Asia, a total of two new installations have been put into operation in the Middle East with a total capacity of 610,000 tons/year. This has enabled the proportion of acetic acid production in the Middle East to increase from almost zero in 2006 to almost zero in 2006. 4%. The company further pointed out that in the next five years, no significant new acetic acid capacity will be put into production in the Middle East.
The world’s two largest acetic acid production giants Celanese and BP are further expanding their acetic acid production capacity in China. IHS said that from 2006 to 2013, China will add nearly 8 million tons/year of acetic acid production capacity, which will lead to excess production capacity of acetic acid in China and at the same time make the global acetic acid market oversupply. China's acetic acid capacity utilization rate will only gradually increase after 2013, when new capacity will be gradually absorbed by new demand.
All acetic acid plants in North America are built in the United States. According to IHS, due to the booming development of unconventional shale gas, the cost of raw material for natural gas in the United States has become very competitive, which has led to a significant cost advantage in acetic acid production in the United States. By 2016, the acetic acid capacity utilization rate in North America will continue to be close to 100%.
It is understood that in various uses of acetic acid, vinyl acetate monomer (VAM) is the most important end-use field, accounting for 1/3 of global acetic acid consumption. At present, consumer demand for other applications, including terephthalic acid and acetate, is growing rapidly.
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