Acetic Unhydride Market – Market Overview
Acetic unhydride is colourless organic solvent and is widely used as a reagent in organic synthesis. It has corrosive properties to metal as well as tissues and s largely used as wood preservative to produce long lasting timber. The overall end use of the acetic unhydride includes pharmaceuticals, textile, agriculture, food & beverages, and others. Acetic unhydride are used to produce cigarette filters which is rising dramatically across the globe due to life style changes and is driving the global demand. It plays important part in the drug production and is used in the production of the drugs like paracetamol and aspirin which are basic drugs. Therefore, rising generic health issues such as fever, cold, body pain, and other expected to surge for the acetic unhydride. Apart from these growth influencing factors, declining adoption of the acetic anhydride products in the cellulose acetate is expected to challenge the global demand over the forecast period.
The major players operating in the global Acetic Unhydride market are Celanese Corporation (U.S.), BASF SE, (Germany), Eastman Chemical Company (U.S.), Jubilant Life Science Ltd (India), DuPont (U.S.), Merck KGaA (Germany), Bufa Chemikalien Gmbh (Germany), Diacel Corporation (Japan), Fischer Chemical (India), Hudson Chemical Corporation (India), Mil-Spec Industries Corporation (U.S.) Aldon Corporation (U.S.) and Laxmi Corporation (India) are the companies profiled in this market and included in the MRFR analysis.
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North America is the largest market for acetic unhydride and has acquired largest global market share. The region is the largest producer of the acetic unhydride and is expected to further retain their dominance over the forecast period of 2017 to 2023. The U.S. is the major contributor in the regional growth due to the presence of cellulose acetate this country. However, the stringent environmental regulations has restricted the regional demand. The factor further expected to hamper the regional growth due to presence of USFDA in this region. Asia Pacific expected to garner highest growth in terms of consumption of the acetic unhydride and offer lucrative growth opportunities. Increasing demand from major end use industries such as pharmaceutical, textile and polymer expected to drive product usage and support regional demand. China and India expected to be the major markets in Asia Pacific region, due to high investments in industrialization. China is the largest regional producer as well as consumer in this region and is emerging as an investment centric market, therefore, industry leaders are expecting major development in terms of growth in this country.
Acetic Unhydride Market- Competitive Landscape
Global acetic unhydride market is growing moderately over the years, and is further expected to grow significantly over the forecast period. The global market is in growth expansion phase and likely to experience couple of capacity expansion as well as joint venture activities to expand global demand. Taking into account the overall demand for acetic unhydride, global market expected to operate at high degree of competition over the forecasted period. The major companies operating in this market are Celanese Corporation, BASF SE, Eastman Chemical Company, Jubilant Life Science Ltd, DuPont, Merck KGaA, Bufa Chemikalien Gmbh, Diacel Corporation, Fischer Chemical, and Hudson Chemical Corporation. Among the abovementioned companies, most of the players are organized and are adopting various strategies to augment the market growth.
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As per our analysis, the global market expected to witness surge of capacity expansion over the assessment period as a result of demand for application specific products. On the other hand, the market is expected to witness penetration of China based manufacturers which may affect the global competition thereby hampering costing of acetic unhydride.
Industry/ Innovation/ Related News:
November 11, 2015- Cleanse announces the production capacity expansion of acetic acid in North America. It has been producing 1350 KT of acetic acid as of now, and additional 150 KT acetic acid production capacity would be added as a result of growing demand. Cleanse corporation is witnessing strong domestic growth for acetic unhydride, and this capacity expansion was undertaken to meet the increased demand.
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