Acetic Anhydride Market Research Report - Forecast to 2030

Acetic Anhydride Market By Application (Cigarette Filters, Coating Materials, Intermediate, Dyes, Flavors And Fragrance, Pesticides, Synthesizer, And Others), End-User (Pharmaceuticals, Textiles, Agrochemicals, Food And Beverages, And Others) And By Region Till 2030

ID: MRFR/CnM/4219-HCR | February 2023 | Region: Global | 140 Pages         

Acetic Anhydride Market

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).

Segmentation
By Application Cigarette Filters Coating Materials Intermediate Dyes Flavors And Fragrance Pesticides Synthesizer Others
By End-User Pharmaceuticals Textiles Agrochemicals Food And Beverages Others
Key Players
Companies Profiled   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)
Drivers
Market Driving Forces    Increases the demand for filter tow applications in cigarettes.
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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 (%)


 Acetic Anhydride Share Regional Analysis


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.


Segmentation


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.


Key Players


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


The growing usage of TAED in the laundry detergent segment has driven the global market share. Adoption of E-cigarettes and declining usage of acetic anhydride for cellulose anhydride are likely to hinder the market’s growth. The development of Acetylated Wood is projected to act as an opportunity for the market in the future. The market for acetic anhydride is chiefly driven by great demand from the cigarette tow market. Cellulose acetate is mainly consumed in cigarettes. Acetic anhydride is used in dyes, fragrances & flavors and the textile industry. Acetate cellulose is further, used in acetate textile fibers. It is hence, accelerating the demand for acetic anhydride. Also, acetic anhydride has a reliable use in artificial sweeteners, pharmaceuticals, resins, polymers, coatings, modified starches, and the pesticides market.

Intended Audience



  • Acetic anhydride Manufacturers

  • Traders and distributors of acetic anhydride

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:

Report Attribute/Metric Details
  Market Size   2030 : Significant Value
  CAGR   Substantial Value
  Base Year   2021
  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.


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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.