Global Acetic Anhydride Market Size By Production Process, By Grade, By Application, By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Global Acetic Anhydride Market Size By Production Process, By Grade, By Application, By Geographic Scope And Forecast

Acetic Anhydride Market Size And Forecast

Acetic Anhydride Market size was valued at USD 2.10 Billion in 2023 and is projected to reach USD 4.10 Billion By 2030, growing at a CAGR of 4.1% during the forecast period 2024 to 2030.

Global Acetic Anhydride Market Drivers

The market drivers for the Acetic Anhydride Market can be influenced by various factors. These may include

  • Chemical Manufacturing Aspirin, acetaminophen, cellulose acetate, and a variety of tastes and scents are all produced using acetic anhydride, a crucial chemical intermediary. Thus, the need for acetic anhydride is driven by the expansion of companies that depend on these chemicals.
  • Pharmaceutical Industry The manufacturing of medications like aspirin and acetaminophen requires the use of acetic anhydride, which is extensively consumed by this industry. The need for acetic anhydride is predicted to rise in response to the growing needs for healthcare worldwide and the creation of new medications.
  • Textile Industry To produce cellulose acetate fibers, which are used in textiles and cigarette filters, acetic anhydride is needed. The need for textiles rises along with the world’s population, which supports the expansion of the acetic anhydride industry.
  • Food and Beverage Industry Food additives, flavorings, and preservatives are made with acetic anhydride. Acetic anhydride is in high demand due to the growing food and beverage industry, shifting customer preferences, and rising demand for these items.
  • Emerging Economies As a result of these countries’ rapid industrialization and urbanization, there is a greater need for chemicals and pharmaceuticals, which in turn raises the demand for acetic anhydride.
  • Environmental restrictions The market dynamics of acetic anhydride may be impacted by strict environmental restrictions pertaining to the usage of specific chemicals. In order to comply with regulations, innovations in production methods and sustainable practices are probably going to be prioritized, which will have an effect on product development and market growth.
  • Research and Development By creating new markets and possibilities, continuous research and development initiatives to improve production procedures, improve product quality, and find new uses for acetic anhydride can propel market expansion.

Global Acetic Anhydride Market Restraints

Several factors can act as restraints or challenges for the Acetic Anhydride Market. These may include

  • Availability of Raw Materials The main raw material used to make acetic anhydride is acetic acid, which is made from methanol and carbon monoxide. Changes in the pricing or availability of these raw materials may have an impact on the cost of producing acetic anhydride, which could restrict market expansion.
  • Environmental Issues The use of chemicals and energy in the synthesis of acetic anhydride raises issues with the environment, including contamination of the air and water. Tight environmental laws may place limitations on manufacturing procedures, raising the cost of compliance and possibly impeding market expansion.
  • Health and Safety Regulations Acetic anhydride is a chemical that should be handled carefully since it is dangerous and can endanger people’s health and safety. Regulations requiring safe handling, storing, and shipping practices may make manufacturing operations more expensive, which could stunt market expansion.
  • Substitution Alternative substances or methods can be used in place of acetic anhydride in specific applications. For instance, in the pharmaceutical industry, there might be other ways to synthesis certain medications without using acetic anhydride. The acetic anhydride market’s potential for expansion may be constrained by the availability of alternatives.
  • Economic Factors The demand for items made from acetic anhydride can be impacted by changes in consumer spending habits and industrial operations. These changes can also have an impact on inflation rates, GDP growth, and currency exchange rates.
  • Trade obstacles The import and export of acetic anhydride can be impacted by trade obstacles including tariffs, quotas, and regulatory restrictions, which can change the dynamics of the market in various geographical areas.
  • Transition to Sustainable Substitutes The use of bio-based and renewable chemicals in place of conventional ones is being propelled by a growing public consciousness of sustainability and environmental issues. The creation of environmentally friendly substitutes for acetic anhydride may present difficulties for the established business.
  • Market Saturation The demand for acetic anhydride may be largely stable in developed areas, such as North America and Europe, with little potential for further expansion. The potential for market saturation in some areas may limit the overall growth of the market.

Global Acetic Anhydride Market Segmentation Analysis

Global Acetic Anhydride Market is segmented based on Production Process, Grade, Application, and Geography.

Acetic Anhydride Market, By Production Process

  • Carbonylation of Methyl Acetate Involves the reaction of methyl acetate with carbon monoxide under specific conditions to produce acetic anhydride, a crucial industrial process for its production.
  • Catalytic Oxidation of Acetaldehyde Utilizes acetaldehyde as a precursor, undergoing oxidation catalyzed by certain agents to yield acetic anhydride, offering an alternative method for its synthesis.
  • Direct Synthesis from Acetic Acid Directly synthesizes acetic anhydride from acetic acid, a process known for its simplicity and efficiency, widely used in industrial settings for mass production.

Acetic Anhydride Market, By Grade

  • Pharmaceutical Grade Acetic anhydride produced to meet stringent quality standards required for pharmaceutical applications, ensuring purity and consistency for use in drug synthesis and formulations.
  • Industrial Grade A commercially available grade of acetic anhydride suitable for various industrial applications, characterized by its standardized quality and cost-effectiveness.

Acetic Anhydride Market, By Application

  • Pharmaceutical Essential in pharmaceutical industry for acetylation reactions, synthesis of pharmaceutical intermediates, and production of medicines, ensuring high purity and compliance with regulatory standards.
  • Textile & Fibers Used as a reagent in the manufacture of cellulose acetate fibers and other textile materials, providing durability and wrinkle resistance to fabrics.
  • Agrochemicals Plays a vital role in the synthesis of pesticides and herbicides, contributing to crop protection and agricultural productivity enhancement.
  • Plastics Acts as a key chemical intermediate in the production of various plastic materials, including acetyl cellulose, polyvinyl acetate, and other polymer products, facilitating versatility and performance.

Acetic Anhydride Market, By Geography

  • North America Market conditions and demand in the United States, Canada, and Mexico.
  • Europe Analysis of the Acetic Anhydride Market in European countries.
  • Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
  • Middle East and Africa Examining market dynamics in the Middle East and African regions.
  • Latin America Covering market trends and developments in countries across Latin America.

Key Players

The major players in the Acetic Anhydride Market are

  • Eastman Chemical Co
  • Celanese Corporation
  • INEOS Group Limited
  • Ningbo Wanglong Technology Co Ltd
  • Daicel Corporation
  • Jubilant Ingrevia Limited
  • Jiangsu Danhua Group Co Ltd
  • Jinan Acetate Chemical Co Ltd
  • BASF SE
  • DuPont

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2020-2030

BASE YEAR

2023

FORECAST PERIOD

2024-2030

HISTORICAL PERIOD

2020-2022

UNIT

Value (USD Billion)

KEY COMPANIES PROFILED

Eastman Chemical Co, Celanese Corporation, INEOS Group Limited, Ningbo Wanglong Technology Co Ltd, Daicel Corporation, Jubilant Ingrevia Limited, Jiangsu Danhua Group Co Ltd, Jinan Acetate Chemical Co Ltd, BASF SE, DuPont

SEGMENTS COVERED

By Production Process, By Grade, By Application, and By Geography

CUSTOMIZATION SCOPE

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