According to IMARC Group’s recently published report, titled “Acetic Anhydride Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global acetic anhydride market reached a value of US$ 3.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.
Acetic anhydride refers to a highly reactive, free-flowing and combustible liquid that is widely used as an important reagent in the organic synthesis of multiple commercially available chemicals. This colorless, transparent liquid chemical compound with the formula (CH3CO)2O is characterized by a strong and pungent vinegar-like odor. It is widely used as an esterification agent for the preparation of modified food starch, as well as for the acetylation of monoglycerides. It is also utilized for the production of numerous products, including aspirin, perfumes, cellulose acetate, Tetraacetylethylenediamine (TAED), aspirin (acetylsalicylic acid), modified starches, pesticides, artificial sweeteners, and wood preservatives.
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Global Acetic Anhydride Market Trends:
The market is primarily driven by the growing utilization of acetic anhydride in the manufacturing of cellulose acetate, which is then used for the production of cigarette filter tow as a synthetic fiber. In line with this, there has been an increase in the number of smokers on the global level on account of the busy schedules and hectic lifestyles led by the working professionals. The increasing awareness regarding the ill effects of prolonged exposure to tobacco has facilitated the uptake of cigarettes with longer filters that aid in reducing the exposure to the smoke, tar and other fine particles during smoking. Along with this, these compounds find extensive applications in the pharmaceutical industry for the production of common medicines, such as aspirin, paracetamol and vitamins. Increasing incidences of diseases and a rise in the geriatric population are creating a positive outlook for the market. Furthermore, acetic anhydride is employed in the synthesis of acephate, a pesticide used in seed treatments and crop protection from insects and microbes, in the agricultural sector, which is acting as a major growth-inducing factor.
Acetic Anhydride Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global acetic anhydride market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Celanese ( NYSE: CE )
- BP Chemicals
- Eastman Chemical Company ( NYSE: EMN )
- BASF ( ETR: BAS )
- Jubilant Life Sciences ( NSE: JUBLPHARMA )
- DuPont ( NYSE: DD )
- SABIC ( TADAWUL: 2010 )
- PetroChina Ltd. ( SHA: 601857 )
- Sasol Limited ( JSE: SOL )
- Daicel ( TYO: 4202 )
- Sipchem ( TADAWUL: 2310 )
- Rhodia
Key Market Segmentation:
Breakup by End-Use:
- Cellulose Acetate
- Pharmaceuticals
- Tetraacetylethylenediamine
- Others
Breakup by Region:
- China
- North America
- Western Europe
- North East Asia
- South East Asia
- Middle East & Africa
- Eastern Europe
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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