Acetic Anhydride Market 2023, Analysis, Business Strategy, Opportunities, Trend
Posted by Marketresearchfuture on June 12th, 2019
Acetic anhydride is a clean, colorless liquid with a strong odor of vinegar. It is soluble in water. Acetic anhydride is widely used as a wood preservative for making durable timber. It is used in various applications such as filter tows, fiber, plastics, dyes, pesticides, flavors, fragrances, and others. The major application of acetic anhydride is the formation of cellulose acetate, which is driving the demand for the product. Cellulose acetate is mainly used in the manufacturing of cigarette filters, photographic films, coating materials, and others. The rising demand for acetic anhydride in pharmaceuticals as an intermediate is the major factor driving the growth of the market. Extensive use of acetic anhydride in the production of aspirin and paracetamol, effective for generic disease such as cold, fever, and bodily pain. The increasing use of flavors and fragrances in food and beverage industry is another factor fuelling the market growth. Moreover, the product is used for manufacturing of tetraacetylethylenediamine (TAED), a bleach activator used in laundry detergent. It acts as a solvent and key ingredient in pesticides such as acephate and other herbicides. Spandex, a light-weight fiber, generally used in manufacturing of swimwear and sportswear. The spandex are manufactured by polytetramethylene ether glycol, which uses acetic anhydride. However, the increasing awareness about ill-effects of cigarettes coupled with stringent governmental regulations may challenge the market growth. Nevertheless, the radiolabelling of proteins and viruses in mammalian tissue culture is anticipated to be one of the emerging opportunities in the global market.
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Competitive AnalysisBASF SE, Celanese Corporation, Eastman Chemical Company, Jubilant Life Sciences Ltd., DuPont, Merck KGaA, Bufa Chemikalien Gmbh & Co. KG, Daicel Corporation, Fischer Chemic, Hudson Chemical Corp, Mil-Spec Industries Corporation, Aldon Corporation, Laxmi Organic Industries Ltd., Atanor SCA , Jiangsu Danhua Group Co. Ltd
Market SegmentationThe global acetic anhydride market is segmented on the basis of application, end-user, and region., On the basis of the application, the global market is segmented into cigarette filter, chemical intermediate, coating materials, dye, flavors & fragrance, pesticides, synthesizer, and others., Based on the end-user, the global market is categorized into pharmaceuticals, textiles, agrochemicals, food & beverages, and others.
Regional AnalysisThe global acetic anhydride market is segmented into five major regions: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North America is leading the global acetic anhydride market owing to the high production of the product in this region. Many of the major acetic anhydride producing companies are located in the U.S. The increasing demand for acetic anhydride from the major applications such as cellulose acetate and pharmaceuticals in this region is likely to fuel the market growth during the assessment period. The U.S. implemented acetic anhydride regulation to reduce the availability of heroin in 1989 as it is a precursor to the drug production. Moreover, the FDA limits the use of acetic anhydride to 2.5% in food starch. These stringent regulations are likely to hinder the market growth in this region.
Followed by North America, Asia Pacific is expected to emerge as the fastest growing region in the global acetic anhydride market. China is the major manufacturer of acetic anhydride due to the low production cost and abundance of labor. Similar to North America, China has implemented the “UN Convention on Drug Precursors,” wherein the signatories subject to strict licensing for production, sales, purchase, and transportation of such precursor chemicals. India is likely to witness a significant growth of the market owing to the increasing demand from textiles, pharmaceuticals, and polymer industries.
The regional market of Europe is mainly driven by the product used in tetraacetylethylenediamine (TAED) for laundry detergent and cellulose acetate for cigarette filters.
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