Acetic Anhydride Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

The acetic anhydride market is expected to witness a CAGR of around 6% during the forecast period. Acetic Anhydride is a colorless liquid with a characteristic sharp odor. It is used in making plastics, drugs, dyes, perfumes, explosives, and aspirin. acetic anhydride is mostly used to acetylate materials that are important to the market. Its biggest application is for the change of cellulose-to-cellulose acetic acid derivation, which is a component of photographic film and other coated materials and is utilized in the production of cigarette filters. For instance, in 2020, 22.3% of the global population used tobacco, 36.7% of all men, and 7.8% of the world’s women. Similarly, it is used to make aspirin, which is made by acetylating salicylic acid. Additionally, it is used as an active modification agent to make durable and long-lasting timber through autoclave impregnation and subsequent acetylation.

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Based on application, the market is segmented into cigarette filters, coating materials, dyes, flavors and fragrance, pesticides & synthesizer, and others. The pesticides & synthesizer category is to witness the fastest growth rate during the forecast period. Due to acetic anhydride is used as a synthesizer in common painkillers like aspirin and acetaminophen; As a result, the compound's consumption is also rising in tandem with the rising demand for pharmaceuticals.

Based on the end-user, the acetic anhydride market has been classified into pharmaceuticals, textiles, agrochemicals, food & beverages, and others. Among them, the pharmaceuticals category is to witness considerable growth during the forecast period. Acetic anhydride is widely used as an acetylating agent and it is also used as a raw material for pharmaceutical drugs such as aspirin, acetaminophen, and other drugs. Moreover, acetic anhydride is widely employed for its acetylating and dehydrating properties across the food & beverage and manufacturing industries.

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APAC to witness extensive growth

For a better understanding of the market adoption of the acetic anhydride market, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to rising demand from various end-user industries like polymers, textiles, and pharmaceuticals in the region. The majority of the growth in this region's market can be attributed to China, Japan, and India. Due to lower manufacturing and labor costs, China is the region's largest producer of acetic anhydride and cellulose acetate. Also, with the rising demand for the textile and pharmaceutical industries, the Indian market is anticipated to expand significantly. Moreover, the Indian government is continuously taking initiatives to drive the acetic anhydride market in the country. For instance, in 2021, Minister for Commerce and Industry, Textiles, Consumer Affairs, Food & Public Distribution, announced the creation of 100 textile machinery champions in the country, and to promote them in the global market.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the acetic anhydride market are BASF SE, Jiangsu Danhua Group Co. Ltd., Jubilant Life Sciences, SABIC, Celanese Corporation, Sasol Limited, Eastman Chemical Company, PetroChina Ltd., DuPont, and Merck KGaA

“Global Acetic Anhydride Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By Application (Cigarette Filters, Coating Materials, Dyes, Flavors and Fragrance, Pesticides & Synthesizer, and Others)

2.      By End-User (Pharmaceuticals, Textiles, Agrochemicals, Food & Beverages, and Others)

3.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

4.      By Company (BASF SE, Jiangsu Danhua Group Co. Ltd., Jubilant Life Sciences, SABIC, Celanese Corporation, Sasol Limited, Eastman Chemical Company, PetroChina Ltd., DuPont, and Merck KGaA)

Key questions answered in the study:

1.      What are the current and future trends of the global acetic anhydride industry?

2.      How the industry has been evolving in terms of application and end-user?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global all-terrain vehicle industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global acetic anhydride suppliers across various region and countries?