The global acetic anhydride market is predicted to progress at a 2.3% CAGR during the time period 2020–2030. The market is being driven by the swift expansion of the pharmaceutical industry in Asia-Pacific (APAC) and rising investments by drug manufacturers for developing new application of acetic anhydride. The compound is increasingly utilized as a synthesizer for producing aspirin and acetaminophen.
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On the basis of application, the acetic anhydride market is divided into reagents, synthesizers, coating materials, plasticizers, and others. Out of these, the synthesizers division is predicted to advance at the fastest CAGR in the years to come, which can be ascribed to the large consumption of acetic anhydride as a synthesizer for producing cellulose acetate. As the demand for cellulose acetate from end-use industries is rising, the demand for acetic anhydride is increasing as well.
Some other major companies operating in the acetic anhydride market include Eastman Chemical Company, Celanese Corporation, Jiangsu Danhua Group Co. Ltd., Saudi International Petrochemical Company, Jubilant Life Sciences Ltd., Lonza Group Ltd., China National Petroleum Corporation, BP p.l.c, RLG Group, Merck KGaA, Daicel Corporation, Thermo Fisher Scientific Inc., Taj Pharmaceuticals Limited, and Vizag Chemical International.
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Market Size by Application
- Coating Materials
- Others (This category includes bleaching agents and disinfectants)
Market Size by End-Use Industry
- Food & Beverages
- Others (This category includes laundry & detergents)