Acetic Anhydride Market is projected to be worth USD 10.57 Billion by 2028, registering a CAGR of 5.45% during the forecast period (2021 - 2028).
Acetic Anhydride Market Overview Acetic Anhydride Market is projected to be worth USD 10.57 Billion by 2028, registering a CAGR of 5.45% during the forecast period (2021 - 2028). Acetic anhydride is a key raw material required in producing medicines, such as acetylsalicylic acid that is aspirins, sulfa drugs, certain vitamins and hormones, acetyl-p-aminophenol, cortisone, acetanilide, theophylline, acetylcholine hydrochloride, acetophenacetin, sulfonamides, and paracetamol. There has been an enormous growth in the number of global general health issues, such as fever, cough and cold, body pains, nausea, etc. This has led to increased demand for drugs like aspirin and paracetamol. The increasing consumption of generic drugs is a boon to the market for acetic anhydride. There has been rapid growth in the demand for the pharmaceutical sector services in the past few years. The growth trend is expected to continue because of the increasing health issues among people. Asia-Pacific is the largest consumer in the global market. The region has witnessed a growth in the number of health issues, including fever, cough & cold, body pains, nausea, etc. Healthcare has become one of India’s largest sectors due to its strengthening coverage, services, and increasing expenditure by public and private players. The government’s expenditure for the improvement of healthcare in the population increased to 1.4% from 1.2%. This has led to increased demand for drugs like aspirin and paracetamol.
Global Acetic Anhydride Share, by application (%)
The global acetic anhydride market is segmented into five regions of North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North America is the leading acetic anhydride market owing to the increasing demand for cellulose acetate and the pharmaceutical industry. North America is the largest producer of acetic anhydride accounting for major global market share due to the huge production of cellulose acetate for films and plastic products. The U.S is the major contributor to this regional market due to the presence of a large number of cellulose acetate producing companies. However, the stringent regulations from Government may restrict the market growth. For instance, the U.S, as per the UN’s lead implemented acetic anhydride regulation to reduce heroin availability, which is a necessary precursor to the heroin production in 11/1989. Moreover, the FDA states that the acetic anhydride in food starch.
Asia Pacific is anticipated to be the fastest growing region in the market during the review period. The increasing demand from various end-use industries such as pharmaceuticals, textiles, and polymers among others is likely to drive the market in this region. Countries such as China, Japan, and India are the major contributors to the market growth in this region. China is the largest acetic anhydride and cellulose acetate producer in this region due to the lower manufacturing and labor cost. India is expected to witness a significant market growth on account of the growing demand for textiles, pharmaceuticals, and polymers industries.
The rising demand for tetraacetylethylenediamine (TAED) for laundry market and cellulose acetate for cigarette market is likely to drive the acetic anhydride market in Europe during the forecast period. European countries such as Germany, U.K, Italy, and France are the major contributors to the market growth due to a huge demand for the product.
The Middle East & Africa is expected to witness a stable market growth owing to the increasing demand from pharmaceutical industries in the near future.
The global acetic anhydride market is segmented on the basis of its application, end-user, and region.
Based on the application, the global market is segmented into cigarette filter tows, intermediate, coating materials, dye, flavors & fragrance, pesticides, synthesizer, and others.
By end-user, the global market is segregated into pharmaceuticals, textiles, agrochemicals, food & beverages, and others.
Some of the prominent manufacturers in the global acetic anhydride market are Celanese Corporation (U.S), BASF SE (Germany), Eastman Chemical Company (U.S), Jubilant Life Sciences Ltd. (India), DuPont (U.S), Merck KGaA (Germany), Bufa Chemikalien Gmbh & Co. KG (Germany), Daicel Corporation (Japan), Fischer Chemic (India), Hudson Chemical Corp (U.S), Mil-Spec Industries Corporation (U.S), Aldon Corporation (U.S), Laxmi Organic Industries Ltd. (India), Atanor SCA (Argentina), and Jiangsu Danhua Group Co. Ltd (China).Recent Development
|Market Size||2030 : Significant Value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application and End-Use|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Celanese Corporation (U.S), BASF SE (Germany), Eastman Chemical Company (U.S), Jubilant Life Sciences Ltd. (India), DuPont (U.S), Merck KGaA (Germany), Bufa Chemikalien Gmbh & Co. KG (Germany), Daicel Corporation (Japan), Fischer Chemic (India), Hudson Chemical Corp (U.S), Mil-Spec Industries Corporation (U.S), Aldon Corporation (U.S), Laxmi Organic Industries Ltd. (India), Atanor SCA (Argentina), and Jiangsu Danhua Group Co. Ltd (China)|
|Key Market Opportunities||Increasing acetic anhydride demand from pharmaceutical industry as an intermediate is another factor|
|Key Market Drivers||Increases the demand for filter tow applications in cigarettes.|
Acetic anhydride is a colorless organic solvent that is a highly concentrated form of acetic acid with all water removed.
Acetic anhydride is majorly used as a reagent in organic synthesis, as well as in wood preservation applications to produce long-lasting timber.
The growing demand for cellulose acetate is the major driver for the acetic anhydride market.
North America is the leading regional market for acetic anhydride.
Leading players in the market include Celanese, BASF, and Eastman, among others.