ID: MRFR/CnM/4219-HCR | February 2021 | Region: Global | 140 pages
Acetic Anhydride Market: Overview
Acetic Anhydride Market is anticipated to grow at average CAGR during the forecast period 2017-2023.
Acetic anhydride is a colorless organic solvent with strong, pungent odor of vinegar and is widely used as a reagent in organic synthesis. Although, it has corrosive property to metals and tissue; it is extensively used as a wood preservative for producing long-lasting timber. The various applications of acetic anhydride include fibers, plastics, dyes, and pesticides. However, inhalation of acetic anhydride causes severe burns to skin and eyes and respiratory irritation.
Its major application is the conversion of cellulose to cellulose acetate, used as one of the components of photographic film and other coating materials. The rising demand for cellulose acetate flake drives the acetic anhydride market globally, which, in turn, increases the demand for filter tow applications in cigarettes. Increasing acetic anhydride demand from pharmaceutical industry as an intermediate is another factor boosting the global market growth. Growing generic health issues such as cold, fever, and body pain have increased the demand for paracetamol and aspirin-like drug, which is produced using acetic anhydride. Acetic anhydride is used for manufacturing tetraacetylethylenediamine (TAED), bleach activator in laundry detergents. It is also used as a solvent and is a key ingredient in the production of a pesticide like acephate and various other herbicides. The rising demand for acetic anhydride for various applications such as a polymer, resin, flavors, fragrance, and modified starch is further fuelling the market growth. Furthermore, the product is used to manufacture polytetramethylene ether glycol for producing spandex, a light-weight fiber, usually utilized for making swimwear & sportswear. However, the declining adoption of the product in the manufacturing of cellulose acetate is expected to restrict the market growth during the review period 2017-2023. The opportunities and technology include radiolabelling of proteins and viruses in vitro and for reaction calorimetry as a tool in process development, research, and safety analysis.
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).
|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.|
Frequently Asked Questions (FAQ) :
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.