As per the ChemAnalyst report titled “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 witnessed substantial growth in the historical period of 2015-2021 and is projected to continue expanding at a Compound Annual Growth Rate (CAGR) of 4.34% in the forecast period. The escalating demand for Acetic Anhydride across key end-use sectors such as Pharmaceutical, Industrial, Agrochemicals, and Nutrition is expected to drive the market growth in the coming years.
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Acetic anhydride, also recognized as ethanoic anhydride, is an organic compound derived through the dehydration of acetic acid. It manifests as a colorless liquid and serves as a crucial component in the production of diverse commodities, including pharmaceuticals, plastics, dyes, perfumes, and explosives. Widely utilized in the pharmaceutical sector, it is instrumental in the manufacturing of various medications such as aspirin and paracetamol. Additionally, its applications extend to the production of cellulose acetate and its role as an organic reagent in the synthesis of various chemicals.
The global Acetic Anhydride market is primarily propelled by its integral role in pharmaceutical manufacturing, catering to the heightened demand for widely consumed medications. Furthermore, it acts as a fundamental raw material in the production of other pharmaceuticals, including acetaminophen, cortisone, and theophylline. The market also benefits from the increasing necessity for hormone medications addressing chronic illnesses such as cancer and hormonal disorders like infertility, allergic rhinitis, prostate issues, and hypothyroidism.
Moreover, the utilization of acetic anhydride in the production of cellulose acetate, applied in industries such as textiles and packaging, contributes significantly to market expansion. The packaging sector, in particular, favors cellulose acetate due to its biodegradable properties, aligning with stringent government regulations aimed at reducing plastic usage.
The Acetic Anhydride market is categorized based on end-use, sales channel, and region. In terms of end-user industries, the pharmaceutical sector dominates, holding over 40% of the market share in 2022. The Industrial sector also emerges as a noteworthy consumer of Acetic Anhydride.
Regionally, Asia Pacific leads in Acetic Anhydride consumption, accounting for 48% in 2022. This trend is expected to persist due to the rising demand for medicines, improved healthcare infrastructure, and population growth in countries like India, Sri Lanka, and Japan. In production, the Asia Pacific region, particularly China and India, takes the lead.
Key players in the Global Acetic Anhydride market, as identified in the report, include 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.
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https://www.chemanalyst.com/industry-report/acetic-anhydride-market-757
According to Mr. Karan Chechi, Research Director at TechSci Research, a research-based management consulting firm associated with ChemAnalyst globally, the continuous rise in demand for acetic anhydride as a raw material for drug manufacturing, coupled with improvements in healthcare facilities, is poised to drive market growth until 2032. Additionally, the diverse applications of Acetic Anhydride as a solvent for producing essential chemicals such as acetate esters, cellulose acetate, and vinyl acetate monomer (VAM) contribute to its market expansion. The increasing adoption of cellulose acetate in the packaging sector, coupled with its eco-friendly nature and adherence to strict government regulations, further supports the global expansion of the acetic anhydride market.
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