Acetyls are organic compounds that consist of a methyl group that has reacted with a carbonyl held by a single bond. This functional group is present in acetic acid, acetylsalicylic acid, acetaminophen, acetylcholine, and acetylcysteine. Acetyls undergo the chemical process of formulation known as acetylation to form the acetyl group into a molecule. The acetyl groups of acetic anhydride, vinyl acetate monomer (VAM), and acetic acid are utilized in manufacturing intermediates for products such as inks, adhesives, solvents, and water-based paints.
Moreover, the application of these organic compounds is escalating in the renewable energy sector due to the widescale consumption of VAM in the production of photovoltaic cells. The increasing awareness regarding solar energy and growing support from the government to create and use it will propel the installation of photovoltaic cells, thus fueling the demand for VAM. According to P&S Intelligence, the widening application base of acetylic compounds will accelerate the acetyls market at a CAGR of 6.9% during forecast period, since valuing $22,004.7 million in 2015.
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Geographically, the Asia-Pacific region consumed the highest volume of acetylic compounds in the past, and it is expected to increase their usage in the coming years. This can be ascribed to the heavy investment in the oil and gas industry, expansion of the electronics sector, and large automobile industry. Apart from this, acetyls find wide application in the production of paints and coatings, textiles, packaging material, and adhesives that are used in the furniture and construction industries. Besides, the demand for acetyls is also generated from the chemical industry of APAC countries.
Thus, the increasing application of chemicals containing the acetyl group will fuel the demand for them in the foreseeable future.
Read more: https://www.psmarketresearch.com/market-analysis/acetyls-market
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