Acetic Anhydride Market Share, Leading Players, Growth and Forecast to 2030

NEW YORK - May 14, 2021 - PRLog -- Acetic anhydride is mostly used as a synthesizer in the production of medicated drugs. The requirement for medicated drugs is exponentially increasing, due to the rapid surge in the geriatric population. Old people need aspirin, sulfa drugs, paracetamol, triacetin, acetaminophen, and cortisone in large quantities to combat numerous ailments. Thus, the increasing number of elderly people will boost the consumption of the compound in the coming years. According to the 2019 World Population Ageing report, the world will host nearly 1.5 billion people aged 65 years or above by 2050.

Moreover, the increasing research and development (R&D) investments and geographical expansion of leading drug manufacturers in the Asia-Pacific (APAC) region will amplify the usage of acetic anhydride in the coming years. All these can be attributed to the improvement in the healthcare sector in emerging economies of APAC like India, Thailand, China, and Indonesia. These developments will, therefore, accelerate the acetic anhydride market at a CAGR of 2.3% during 2020–2030. The market was valued at $3,476.1 million in 2019 and it is projected to reach $4,950.4 million by 2030.

Apart from the pharmaceutical sector, the tobacco industry is also expected to exhaust a significant amount of acetic anhydride in the coming years. Cigarette manufacturers use the compound in the production of cellulose acetate that is used to make cigarette filters. The cellulose acetate prevents the passage of excess tar and nicotine inside the smoker. Over the years, the number of smokers across the world has increased significantly, thereby, leading to the widescale production of cigarettes, globally, which, in turn, drives the demand for the chemical.

Whereas, the Middle East and Africa (MEA) acetic anhydride market (https://www.psmarketresearch.com/market-analysis/acetic-a...) will demonstrate the fastest growth in the foreseeable future. This can be owed to the surging application of the compound as a food additive and as a synthesizer for cellulose acetate. Besides, the expansion of textile industry will also amplify the usage of the chemical, owing to the rising production of home-furniture upholstery and automotive upholstery in the region. Additionally, the growth of chemical industry in Saudi Arabia, due to the rising investments, will also fuel the adoption of the compound.

Thus, the soaring production of medicated drugs, cigarettes, and textile fibers will propel the consumption of acetic anhydride in the foreseeable future.