Acetic Anhydride Market Size to Surpass Revenues in 2025
In early 2018, the global acetic anhydride market price was valued at USD x.x billion and anticipated to witness a healthy growth rate of USD x.x billion in 2025 with a CAGR of x.x% over the forecast period.
The acetic anhydride is a chemical compound with formula (CH3CO)2O. It is colorless liquid which smells strongly of acetic acid which is formed by its reaction with moisture and air. Commonly abbreviated Ac2O, it is the simplest isolable anhydride of a carboxylic acid and is widely used as a reagent in organic synthesis.
The Acetic anhydride is majorly used in the production of Cellulose acetate. Which is further used in the production cigarette filters, Textile Fibers and plastic goods. There are many benefits of acetic acid such as benefit of having acetic acid in a food or beverage is that it keeps other unwanted pathogenic organisms from growing, acetic acid can be used as an antiseptic and acetic acid is also used in making perfume. Thus the wide application makes it more acceptable and thus the market grows.
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The major drivers of the acetic anhydride market are the growing demand for vinyl acetate monomer, increasing disposable income, higher standard of living and rising use of ester solvents in paints and coatings industry which is fueling the demand of acetic acid.
The major restraints of the Acetic Anhydride are the volatility of raw material prices and the major environmental concerns. Other than this reduced performance at low temperatures, low compatibility with quartz, and irritation to skin and corrosive to metals are factors expected to hamper the growth of acetic acid consumption during the forecast period.
The textile industry is full of opportunities though.
The global acetic anhydride market is characterized by several major segments including types, applications, and region. Based on the type, the market is divided into food grade, and industrial grade. On the basis of application the market is segmented into Paints & Coating, Pharmaceuticals, and Food and beverages. Furthermore, on the regional basis the market is widely expanded in North America, Europe, Latin America, and others.
The key players of the global acetic anhydride market including BASF SE, Celanese Corporation, DowDuPont, Eastman Chemical Company, Jibilant Life Sciences, PetroChina Ltd., Daicel, Spichem and Rhodia, Sasol Limited, SABIC, and more others.
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Acetic anhydride is a prime necessity in the filter two applications of cigarettes. According to the study, the filter tow application has accounted nearly around 80% of cellulose acetate consumption and is converted into plastics, filter cigarette filter tows, and filaments yarns. In the past few the cigarette filters segment has resulted to be the most dominant, the demand from the sector is expected to experience a steady growth in the near future. However, this is owing to the adoption of electronic cigarettes.
Key Segmentation of the global acetic anhydride market 2018-2025
The market is segmented as:
By type
- Future prospects and current trends of the global acetic anhydride market by the end of forecast period (2018-2025)
- Information regarding technological progressions as well as innovations taking place in developing economies
- Supportive initiatives by government likely to influence the market dynamics.
- Trends, drivers, opportunities, restraints, challenges and key developments in the market.
- In-depth analysis of different market segmentations including regional segmentations, applications and types.
- Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market.
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