Global Acetic Anhydride Market Report and Forecast 2023-2028

Global Acetic Anhydride Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global acetic anhydride market reached a value of USD 3.05 billion in 2022. Aided by the rising applications in diverse sectors and the growth in demand for acetyl derivatives, the market is projected to further grow at a CAGR of 4.9% between 2023 and 2028 to reach a value of USD 4.06 billion by 2028.

Acetic anhydride, a colourless liquid, is an acylating agent derived from acetic acid. Its pungent odour and lachrymatory effect are distinguishing characteristics. Primarily used in the synthesis of various chemical compounds, acetic anhydride plays a vital role in producing a plethora of items ranging from pharmaceuticals to complex organic molecules. It acts as a versatile reagent, lending its transformative capabilities to acetylate organic molecules, which finds extensive applications across industries.

The pharmaceutical sector stands out as one of the main drivers of the acetic anhydride market growth. With the rampant demand for medications like aspirin and acetaminophen, both of which leverage acetic anhydride in their production processes, the pharmaceutical industry's growth directly influences the demand curve for acetic anhydride. Furthermore, the consistent advancements in medical research and the development of new drugs create further avenues for this chemical compound.

Beyond pharmaceuticals, the cellulose acetate industry is propelling the demand for acetic anhydride. Cellulose acetate, used predominantly in producing cigarette filters and plastic goods, relies heavily on acetic anhydride. As the global population continues to grow and urbanise, the demand for such products has witnessed a concurrent uptick, impacting the acetic anhydride market outlook.

Moreover, the growth and diversification of the chemicals industry has paved the way for increased applications of acetic anhydride. In synthetic organic reactions, acetic anhydride acts as a pivotal reagent. The compound’s ability to modify synthetic products, bolstering their efficiency and utility, makes it indispensable in the chemical sector. Its attributes, such as facilitating the introduction of an acetyl group into organic molecules, enhance its significance in the production of dyes, perfumes, and resins.

Additionally, as industries strive for efficiency and innovation, research into novel applications of acetic anhydride continues. The advent of green chemistry and sustainable production processes might pave the way for acetic anhydride to play a crucial role in producing eco-friendly and efficient solutions in various industrial applications, thereby, boosting the acetic anhydride market demand.

Market Segmentation

The market can be divided based on application and region.

Market Breakup by Application

• Cellulose Acetate Flakes
• Pharmaceuticals
• TAED
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global acetic anhydride market. Some of the major players explored in the report by Expert Market Research are as follows:

• Celanese Corporation
• Sahara International Petrochemical Company
• Eastman Chemical Company
• Jubilant Ingrevia Limited
• Daicel Corporation
• China National Petroleum Corporation
• Saudi International Petrochemical Company (Sipchem)
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.