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Global Acetic Anhydride Market to Grow at a CAGR of 4.9% During 2021-2026, Aided by the Rising Use of TAED in the Detergent Industry

According to a new report by EMR titled, ‘Global Acetic Anhydride Market Report and Forecast 2021-2026’, the market attained a value of about USD 2.77 billion in 2020. The industry is further expected to grow at a CAGR of 4.9% in the forecast period of 2021-2026 to reach a value of USD 3.68 billion by 2026.

The market growth of acetic anhydride is being aided by its extensive end-use of the chemical in various industries. The growing use of tetraacetylethylenediamine, produced from acetic anhydride in the manufacturing of detergents owing to the presence of active oxygen bleaching agents, is expected to invigorate the industry growth. As tetraacetylethylenediamine (TAED) can clean clothes effectively while consuming less energy and reducing carbon footprint, it is increasingly incorporated in detergent and bleachers, which is anticipated to augment the growth of the acetic anhydride industry. Moreover, the hygienic benefits associated with TAED are increasing its demand, hence boosting the market growth. The sustainable and biodegradable properties of TAED are surging its demand from the environmentally-conscious population, which is providing impetus to the market growth of acetic anhydride.

 

Acetic Anhydride Market

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Celanese Corporation (NYSE: CE), one of the leading companies in the market, announced acetic acid and vinyl acetate monomer (VAM) capacity expansions and debottlenecking projects at its global manufacturing facilities in April 2018. The announcement demonstrates the company’s leading acetyl technology to its commitment to productivity and innovation within the acetyl chain, hence increasing the production of acetyl anhydride to meet the growing demands. The company implemented and translated various capital-efficient technology-oriented process improvement projects to add 140 kilotonnes per annum of acetic acid to meet the demand by 2020. The integration of the latest technologies would leverage a new generation of the company’s AOPlus acetic acid and VantagePlus VAM manufacturing technologies. This would consequently increase the production of acetic anhydride, which is prepared by the reaction and dehydration of acetic acid. Such expansions are expected to aid the market growth in the forecast period.

 

Acetic Anhydride Market by Application

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Market Analysis by Application and Region:

  • The market, on the basis of application, can be divided into cellulose acetate flakes, pharmaceuticals, and TAED, among others.
  • The regional markets for acetic anhydride include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for acetic anhydride in the flourishing pharmaceutical industry in the manufacturing of generic drugs such as paracetamol and aspirin is propelling the market growth.
  • The extensive demand for acetic anhydride and its products in various end-uses in major industries is providing impetus to the industry growth.
  • The growing use of cellulose acetate owing to its antimicrobial and biodegradable properties in the thriving packaging industry is aiding the market growth.
  • The market is being driven by the use of cellulose as a natural fibre and a substitute for cotton, thus surging the use of acetic anhydride.

Key Offerings of the Report:

  • The EMR report gives an overview of the global acetic anhydride market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the applications and regions of acetic anhydride.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The market report also analyses the trade data by covering the major importing and exporting countries. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

Acetic Anhydride Market by Region

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The major players in the global market for acetic anhydride are Celanese Corporation, BP Chemicals, Eastman Chemical Company, Jubilant Life Sciences Ltd., Daicel Corporation, PetroChina Company Limited, and Saudi International Petrochemical Company (Sipchem), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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