Acetic Anhydride Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2023 – 2032

Acetic Anhydride Market size is set to grow exponentially between 2023 and 2032 driven by the rising adoption of the substance as a raw material for plastics and cellulose acetate fibers as well as in chemical synthesis.
 

Acetic acid or ethanoic acid refers to a colorless liquid organic compound, which is a crucial industrial chemical and reagent. Acetic anhydride is obtained from the condensation of two acetic acid molecules, a process that utilizes over 25%-30% of the global acetic acid production. The increasing acetic anhydride applications in fragrances, dyes, and flavors, alongside the booming beauty industry, will further add impetus to industry expansion over the estimated timeline.
 

Inflationary pressures that are persistent and widening, as well as robust regulations by financial institutions in response, impact the outlook for advanced economies. Consumer demand for chemicals such as acetic anhydride may drastically decline from vital sectors including paint and coatings, agrochemicals, pharmaceuticals, and others, as a result of a protracted recession and rising inflation.
 

Acetic anhydride market from coating material segment is estimated to the rising demand for protective and performance coatings from the manufacturing sectors. The increasing use of the chemical as a solvent in paints would also boost the market growth. Moreover, the strong focus on home renovation during the coronavirus pandemic 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 is set to emerge as a prominent segment, 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 Food and Drug Administration and the Centers for Disease Control and Prevention 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 MEA acetic anhydride market will hold a significant share of the global market by 2032 owing to the UAE's strong emphasis on increasing its chemical sector. That apart, 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 emphasis on improving the pharmaceutical manufacturing capacity is expected to drive demand for acetic anhydride in the region.
 

Global acetic anhydride market 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, and BASF SE, among others.
 

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

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