Acetic Anhydride Market annual growth rate is 4.1 percent
Acetic Anhydride Market Size and Growth Rate:
As per the latest reports published by Research Cosmos, Acetic Anhydride Market was valued at USD xx million in 2017 and poised to reach USD xx million by 2025 growing at a CAGR of 4.1% during the forecast period 2018 to 2025.
Acetic anhydride is an isolable acid anhydride and is also known as ethanoic anhydride. It is produced from acetic acid. It has good tear properties and is used in the manufacture of cellulose acetate, one of the main chemical substances used in the production of cellulose acetate plastics and cellulose acetate flakes. Cellulose acetate is consumed mainly in cigarettes. Acetic anhydride can also be used in pesticides, polymers, resins, coatings, artificial sweeteners and modified starches. It has applications in several fields such as pharmaceuticals, agrochemicals, beverages, aromatics, and others. It is also used in the production of tetraacetylethylenediamine (TAED) and polytetramethylene ether glycol (PTMEG), as well as in the pharmaceutical sector.
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Acetic Anhydride Market Growth Drivers and Restraints:
The market for acetic anhydride is growing due to the growing demand for cigarette filter cables in emerging economies, particularly in the BRIC countries. The increase in the number of smokers in these countries is attributable to the growth of the market, since the cellulose acetate flakes are the main raw material for the manufacture of the cigarette filter cable, which are manufactured using acetic anhydride. In addition, cellulose acetate is used in the production of textile fibers of acetate, which stimulates the demand for acetic anhydride.
Geographical Insights of Acetic Anhydride Market:
North America leads the acetic anhydride market due to the huge market demand for cellulose acetate and the pharmaceutical industry. However, strict environmental regulations may restrict the market in North America. Asia-Pacific tracks the market share of acetic anhydride after North America and is considered the fastest growing market due to the growing demand of several industries, such as textiles, polymers, pharmaceuticals, etc. The demand for acetic anhydride is enormous in countries such as China, India and Japan. Japan and China are the main consumers of acetic anhydride in the Asia-Pacific region. The growth of the textile, polymer and pharmaceutical industries in India will likely provide better opportunities for the market. The European acetic anhydride market is driven by the growing demand for TAED for the laundry and cellulose acetate market for the cigarettes. Italy, Germany, the United Kingdom and France are the main consumers of acetic anhydride in the European region. Demand remains stable in the rest of the world for this market in the coming years.
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Key Players of Acetic Anhydride Market:
BASF SE, BP Chemicals Plc, Eastman Chemical Company, E.I. Du Pont De Nemours & Company, SABIC, PetroChina Ltd., and Celanese Corporation are the prominent players of the Acetic Anhydride Market.
Acetic Anhydride Market Segmentation:
By Product:
- Chemical Grade
- Medical Grade
By End Users / Applications:
- Cellulose Acetates
- Pharmaceutical
- Dyes
- Flavors and Fragrances
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
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