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Anisole is a widely adopted raw material for chemical transformation in the pharmaceutical industry. Hence, the market is driven by the growing expansion of the pharmaceutical industry owing to the rising cases of chronic diseases, emerging COVID-19 variants, and growing R&D activities to curb the prevalence of cancer. Meanwhile, the growing application of dyes in the textiles, paper, and leather, among others, is likely to augment the market growth in the forecast period.
In November 2021, McAfee Corporation (NASDAQ: MCFE) announced that the company entered into an agreement under which it will be acquired by a group of investors led by Advent International Corporation and Permira Advisers LLC. McAfee will sell all its outstanding shares worth USD 12 billion.
Geographically, the Asia Pacific region is likely to be one of the fastest growing regions in terms of market growth in the forecast period. The growth of the market is anticipated to be driven by the increasing sale of perfumes and deodorants due to the rising disposable incomes, expansion opportunities for luxury brands and easy availability of anisole.
The significant economic growth of countries like India, China, Japan, and South Korea, among others is likely to provide lucrative opportunities to the market in the forecast period.
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The major players in the global market are Solvay SA, Westman Chemicals Pvt. Ltd., Benzo Chem Industries Pvt. Ltd., Huaian Depon Chemical Co., Ltd., and Clean Science and Technology Private Limited., 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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