According to ChemAnalyst report, “Global Acetic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, The Acetic Anhydride market has displayed significant expansion in the historic period of 2015-22 and is expected to further grow at a CAGR of 4.34% in the forecast period. The surging demand for Acetic Anhydride from major end-use industries, Pharmaceutical, Industrial, Agrochemicals, and Nutrition, is anticipated to favour the Acetic Anhydride market expansion in the upcoming years.
Acetic anhydride, also known as ethanoic anhydride, is an organic compound which is synthesized by dehydration of acetic acid. It appears as a colorless liquid and is used to manufacture various commodities such as drugs, plastics, dyes, perfumes, explosives, etc. It is widely employed in the pharmaceutical sector to manufacture several medications, including aspirin and paracetamol. Other application of acetic anhydride also includes the production of cellulose acetate and as an organic reagent for manufacturing other chemicals.
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The global Acetic Anhydride market is mainly driven by its usage to manufacture drugs and medications. These medications are among the most widely used, and the rise in health problems including aches, nausea, and fever, among others, is driving up demand for them. Moreover, it is used as a raw ingredient in the production of other medicines as well including acetaminophen, cortisone, and theophylline, among others. Furthermore, the growing need for hormone medications to address a variety of chronic illnesses like cancer and hormonal disorders like infertility, allergic rhinitis, prostate issues, hypothyroidism, and others, also provides a push to the acetic anhydride market. Additionally, the usage of acetic anhydride to manufacture cellulose acetate which finds applications in various industries such as textiles and packaging also contributes to the market. The packaging industry is increasingly using cellulose acetate as a substitute for petroleum-based materials due to its biodegradable qualities coupled with stringent government regulations towards reduction in plastic usage also contributes to the market expansion.
The Acetic Anhydride market is segregated based on end-use, sales channel, and region. Based on the end-user industry, the global Acetic Anhydride market is segmented into Pharmaceutical, Industrial, Agrochemicals, and Nutrition. Among these, the pharmaceutical sector is in the lead and held more than 40% of the market share in 2022. Additionally, the Industrial sector is also a prominent consumer of the Acetic Anhydride market.
Based on demand by region, Asia Pacific is consuming the majority of the Acetic Anhydride market with a consumption of 48% in 2022. It is anticipated that Asia Pacific will most likely retain this position in the forecast period owing to the growing demand for medicines and better healthcare facilities coupled with the growing population in nations like India, Sri Lanka, and Japan. In terms of production, the Asia Pacific region is again in the lead with China and India being the biggest stakeholders.
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“Global Acetic Anhydride Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, the significant players functional in the Global Acetic Anhydride are Eastman Chemical Co, Celanese Corporation, INEOS Group Limited, Ningbo Wanglong Technology Co.,Ltd, Daicel Industries, Jubilant Ingrevia Limited, Jiangsu Danhua Group Co.,Ltd, Jinan Acetate Chemical, and Others.
“Continuously increasing demand of acetic anhydride as a raw material to manufacture drugs such as coupled with improvising healthcare facilities is expected to propel the Acetic Anhydride market in the forecast period until 2032. Other uses of Acetic Anhydride as a solvent to manufacture useful chemicals such as acetate esters, cellulose acetate, and vinyl acetate monomer (VAM) also contributes to the market expansion. The growing usage of cellulose acetate in packaging sector coupled with its eco-friendly nature and strict government regulation favour the acetic anhydride market expansion across the globe. “said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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