Acetic Anhydride Market Size, Industry Outlook Report, Regional Analysis, Application Development, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

Acetic Anhydride Market Size

Acetic Anhydride Market size is set to grow exponentially between 2023 and 2032 driven by its extensive applications in pharmaceuticals, textiles, and coatings industries. There is increasing demand for pharmaceutical products, particularly in emerging economies. The role of acetic anhydride as a key intermediate in the manufacturing of various chemicals and dyes further boosts demand.
 

The market is also influenced the booming textile sector, where the product is uses in the production of cellulose acetate fibers. By 2030, the Indian textiles and apparel manufacturers market is estimated to reach USD 350 billion as per a report released by FICCI-Wazir Advisors.
 

Additionally, rising consumption of processed foods and beverages enhances the need for acetic anhydride in food preservatives, bolstering the market growth.
 

Acetic Anhydride Market Trends

One prominent trend in the industry is the increasing adoption of sustainable production methods to address environmental concerns and regulatory requirements. The technological advancements and innovations in manufacturing processes are enhancing efficiency and reducing production costs of acetic anhydride. Lastly, shifting consumer preferences towards eco-friendly and bio-based alternatives are influencing product development, which will further shape the market outlook in the coming years.    
 

Acetic Anhydride Market Analysis

The coating material application segment is estimated to grow significantly through 2032 due to the rising demand for protective and performance coatings from the manufacturing sector. The increasing use of acetic anhydride as a solvent in paints would also boost the demand. Moreover, the strong focus on home renovation, rie in number of construction projects, and the subsequent surge in the adoption of architectural paints and coatings will also contribute to the overall acetic anhydride market growth.
 

In terms of end-use, the tobacco industry segment is set to generate significant revenues for the market by 2032, owing to the deployment of acetic anhydride for filter tow applications in cigarettes. Moreover, the United States is currently witnessing a "teen vaping epidemic," as adolescent use of electronic cigarettes (e-cigarettes) has surged in recent years, which will further contribute to the market growth.
 

According to a study conducted by the US FDA and the CDC in October 2022, 2.55 million US middle and high school students reported e-cigarette use in 2022, including 14.1% of high school students and 3.3% of middle school students. However, the increasing awareness of the health effects and environmental impacts associated with the use of e-cigarettes may pose challenges to the adoption of acetic anhydride in tobaccos over the forecast period.
 

The Middle East & Africa acetic anhydride market will hold a significant revenue share by 2032 owing to the UAE's strong emphasis on supporting its chemical sector. Besides, significant increase in domestic textile exports from the UAE will also impact regional growth as acetic acid is commonly used to improve color stability on clothing. Moreover, South Africa's focus on improving the pharmaceutical manufacturing capacity is expected to drive demand for acetic anhydride in the region.
 

Acetic Anhydride Market Share

Global acetic anhydride industry key players include:

• Jubilant Life Sciences
• Luna Chemical Industries Pvt. Ltd.
•  Daicel Corporation
•  PetroChina Ltd. (China National Petroleum Corp.)
• Celanese Corporation
• DuPont, Eastman Chemical Company
•  BASF SE

Strategic product launches and business expansions are some of the initiatives being employed by these companies to gain a competitive edge over rivals in the market.
 

Acetic Anhydride Industry News

·       In April 2022, Jubilant Ingrevia announced the completion of the company’s Acetic Acid plant in Uttar Pradesh, India, which is new Green Ethanol-based food-grade product. It is intended to fulfill the highest product certification requirements such as FSSAI, Halal, ISO 22000, FCC Codex, Kosher, and so on, meeting the growing need for food preservatives throughout the world.

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