Global Acetic Anhydride Market - Segmented by Application, End-User Industry and Geography - Growth, Trends and Forecast (2018 - 2023)
The global acetic anhydride market is expected to witness a CAGR of approximately 4.2% during the forecasted period, majorly driven by the growing usage in laundry detergents and increasing demand from the pharmaceutical industry for acetic anhydride, as an intermediate.
Rising Demand of TAED from Laundry Detergents
Acetic anhydride is required in the cleaning and laundry applications primarily because it helps in the production of TAED, which is used as a perborate bleach activator in cold-water laundry detergents. TAED is prepared by first reacting Ethylenediamine (EDA) with two moles of acetic acid to form the bis-amide. This is then reacted with two moles of acetic anhydride to form the tetra-amide. There has been a surge in cleanliness and hygiene concerns in developing countries, such as India and China, which, in turn, is boosting laundry and cleaning sector, in turn, aiding the market growth for acetic anhydride.
Cigarette Filters Dominate the Market
Acetic anhydride is majorly required in the filter tow applications of cigarettes. Cellulose acetate flake is converted into cigarette filter tows, plastics, and filament yarns. The filter tow application accounts for nearly 80% of cellulose acetate consumption. Although, the cigarette filters segment is expected to be the most dominant, the demand from the sector is expected to witness a steady growth. This is owing to the adoption of electronic cigarettes. Furthermore, the decline in exports of cellulose flake to China may further hinder the market growth.
Growing Pharmaceutical Industry in Asia Pacific
Acetic Anhydride is a key raw material required in the production of medicines, such as acetylsalicylic acid (aspirins), sulfa drugs, and various other medicines. The region has witnessed a growth in the number of health issues, which include fever, cough & cold, body pains, nausea, etc. due to the pollution levels from industrial activities. This has led to an increase in demand for drugs, like aspirin and paracetamol. Additionally, the increasing concerns for hygiene and cleanliness have led to the growth of the laundry and cleaning sector in Asia-Pacific, which in turn shall augment the growth of acetic anhydride market during the forecast period.
Key Developments in the Market
February 2018: DuPont Introduced New Solamet PV21A Metallization Pastes at 2018 Tokyo PV Expo
Major Players: BASF SE, Celanese Corporation, DowDuPont, Sasol Limited and SABIC amongst others.
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating process type and filler used in the market
Countries expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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