The expansion of the pharmaceutical industry, especially in the developing nations of Asia-Pacific (APAC) such as India, Indonesia, Thailand, and China, owing to the surging investments being made in research and development (R&D) activities and the expansion of several large drug producing companies in the regional countries, is propelling the demand for acetic anhydride. Moreover, the healthcare sector is booming in this region, on account of the availability of affordable raw materials and labor and high government expenditure, which is also fueling the demand for acetic anhydride.
This is credited to the fact that the compound is extensively used as a synthesizer in acetaminophen, aspirin, and various other medicated drugs. Besides these factors, the mushrooming population of geriatric people is also positively impacting the worldwide sales of acetic anhydride. As per the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050.
As geriatric people heavily consume aspirin and various other medicated drugs, their growing population is causing a sharp surge in the requirement for the compound. Moreover, older people need body pain killers and generic drugs, such as sulfa drugs, acetaminophen, cortisone, triacetin, and paracetamol, in which acetic anhydride is used heavily, for managing and treating various health conditions. Because of these factors, the revenue of the global acetic anhydride market is expected to surge from $3,476.1 million in 2019 to $4,950.4 million by 2030.
Globally, the acetic anhydride market will register huge expansion in the Asia-Pacific (APAC) region throughout the forecast period, as per the estimates of P&S Intelligence, a market research firm based in India. This is attributed to the growing use of the compound in the production of tobacco filters, textile fibers, food additives, and plastic products. Additionally, the expansion of these end-use industries, on account of the soaring investments being made by various organizations, is further boosting the demand for the compound in the region.
Thus, the demand for acetic anhydride will explode in the forthcoming years, primarily because of the growing usage of the compound in pharmaceuticals, which are themselves experiencing a sharp surge in demand, on account of the increasing prevalence of chronic diseases and mushrooming population of geriatric people all over the world.
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Acetic anhydride is the major raw material for the production of these drugs and this increases its demand which further leads to the market growth.
Furthermore, a dramatic growth is being witnessed in the pharmaceutical sector for the past few years.
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.
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.
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.
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.Read more details of the report at: https://www.adroitmarketresearch.com/industry-reports/acetic-anhydride-market 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.
Request For Report Sample: https://www.researchreportinsights.com/report/upsample/120124793/Acetic-Anhydride-MarketOn the basis of demand, North America regional market has gained market attractiveness in the worldwide market for acidic anhydride.
On the other hand, the market for acidic anhydride is going down in the North America market over the years to come.
The acidic anhydride market was fundamentally expansive in Europe and the trend is likely to proceed because of the developing requirement for cellulose acetate and TAED in the area.The Asia Pacific is foreseen to be the quickest developing business sector for acidic anhydride throughout the following couple of years.
China and Japan are widely held acetic anhydride users in the Asia Pacific region.
Expansion of industries such as pharmaceuticals, polymer, and textile in India is believed to offer better prospects for the India market for acetic anhydride.
The requirement is constant in Rest of the World for the worldwide market for acidic anhydride over the years to come.Request For Report TOC: https://www.researchreportinsights.com/report/TOC/120124793/Acetic-Anhydride-MarketThe decrease in the use of acidic anhydride in domestic utilization of stringent environmental regulations and cellulose acetate have appeared to limit the worldwide acidic anhydride market.
