According to IMARC Group’s recently published report, titled “Acetic Anhydride Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global acetic anhydride market size grew at a CAGR of 6.1% during 2014-2019. Acetic anhydride refers to a highly reactive, free-flowing and combustible liquid that is widely used as an important reagent in the organic synthesis of multiple commercially available chemicals. This colorless, transparent liquid chemical compound with the formula (CH3CO)2O is characterized by a strong and pungent vinegar-like odor. It is widely used as an esterification agent for the preparation of modified food starch, as well as for the acetylation of monoglycerides. It is also utilized for the production of numerous products, including aspirin, perfumes, cellulose acetate, Tetraacetylethylenediamine (TAED), aspirin (acetylsalicylic acid), modified starches, pesticides, artificial sweeteners, and wood preservatives.
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Global Acetic Anhydride Market Trends:
The market is primarily driven by the growing utilization of acetic anhydride in the manufacturing of cellulose acetate, which is then used for the production of cigarette filter tow as a synthetic fiber. In line with this, there has been an increase in the number of smokers on the global level on account of the busy schedules and hectic lifestyles led by the working professionals. The increasing awareness regarding the ill effects of prolonged exposure to tobacco has facilitated the uptake of cigarettes with longer filters that aid in reducing the exposure to the smoke, tar and other fine particles during smoking. Along with this, these compounds find extensive applications in the pharmaceutical industry for the production of common medicines, such as aspirin, paracetamol and vitamins. Increasing incidences of diseases and a rise in the geriatric population are creating a positive outlook for the market. Furthermore, acetic anhydride is employed in the synthesis of acephate, a pesticide used in seed treatments and crop protection from insects and microbes, in the agricultural sector, which is acting as a major growth-inducing factor. On account of the aforementioned factors, the market is anticipated to exhibit moderate growth during the forecast period (2020-2025).
- On the basis of the end-use, the market has been classified into cellulose acetate, pharmaceuticals, tetraacetylethylenediamine (TAED) and others. Among these, cellulose acetate accounts for the majority of the overall market share.
- On the geographical front, North America holds the leading position in the market. Some of the other major regions include China, Western Europe, North East Asia, South East Asia, Middle East and Africa, and Eastern Europe.
- The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market.
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