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Acetic Anhydride Market Size

ID: MRFR//4219-HCR | 140 Pages | Author: Chitranshi Jaiswal| July 2024

The Acetic Anhydride market is influenced by various market factors that play a crucial role in shaping its dynamics. One of the key determinants is the demand from end-use industries, primarily the pharmaceutical and textile sectors. As a versatile chemical, acetic anhydride is extensively used in the production of pharmaceuticals, such as acetylsalicylic acid (aspirin), and in the manufacturing of cellulose acetate fibers for textiles. Therefore, any fluctuations in the demand for pharmaceuticals or changes in the textile industry directly impact the 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).

Raw material prices also significantly impact the acetic anhydride market. Since acetic anhydride is derived from acetic acid, which, in turn, is produced from methanol and carbon monoxide, any volatility in the prices of these raw materials directly affects the production cost of acetic anhydride. Manufacturers closely monitor these raw material prices to assess the overall cost structure, which, in turn, influences the pricing of acetic anhydride in the market.

Regulatory factors play a pivotal role in shaping the acetic anhydride market landscape. Due to its potential environmental and health hazards, governments around the world impose strict regulations on the production, transportation, and usage of acetic anhydride. Compliance with these regulations not only ensures the safety of handling the chemical but also affects the overall production processes and costs for manufacturers. Stringent environmental norms may lead to increased investments in technology and infrastructure to meet compliance standards, impacting the market dynamics.

Global economic conditions and trade policies also contribute to the market factors of acetic anhydride. Fluctuations in currency exchange rates and changes in international trade agreements can influence the cost of importing and exporting acetic anhydride. Trade tensions or disruptions in the global supply chain can impact the availability of raw materials and hinder the smooth flow of finished products, creating challenges for market players.

Technological advancements and innovations in production processes have a dual impact on the acetic anhydride market. On one hand, advancements can lead to more efficient and cost-effective production methods, positively influencing the market by enhancing competitiveness. On the other hand, new technologies may also introduce alternative substances or processes that could potentially replace or reduce the demand for acetic anhydride, posing a threat to the market.

Market competition is a crucial factor shaping the acetic anhydride landscape. The presence of numerous manufacturers and suppliers in the market fosters healthy competition, driving innovation and cost competitiveness. Market players often engage in strategic collaborations, mergers, and acquisitions to strengthen their market position and expand their product portfolios, thereby influencing the overall market structure.

The acetic anhydride market is influenced by a combination of factors ranging from demand in end-use industries, raw material prices, regulatory frameworks, global economic conditions, technological advancements, and market competition. A comprehensive understanding of these market factors is essential for industry participants to make informed decisions, navigate challenges, and capitalize on emerging opportunities in the dynamic landscape of the acetic anhydride market.

Covered Aspects:

Report Attribute/Metric Details
Growth Rate   CAGR of 5.45%

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), Daicel Corporation (Japan), Fischer Chemic (India), Hudson Chemical Corp (U.S), Bufa Chemikalien Gmbh & Co. KG (Germany), 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

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