As per the projections published in the United Nations (UN)’s World Population Prospects 2017 report, compared to 962 million in 2017, the population of people in the age group of 60 and above will be 2.1 billion by 2050. With age, people suffer from immunological and physical weakness, which increases the risk of almost all types of diseases.
This is one of the primary reasons which would drive the global acetic anhydride market to $4,950.4 million by 2030, from $3,476.1 million in 2019, at a 2.3% CAGR between 2020 and 2030. This is because the increasing geriatric population is resulting in the growing demand for medical drugs. In common analgesic drugs, such as acetaminophen and aspirin, acetic anhydride is used as a synthesizer; thus, with the rising demand for pharmaceuticals, the consumption of the compound is also increasing.
Get the Sample Copy of this Report at: https://www.psmarketresearch.com/market-analysis/acetic-anhydride-market/report-sample
The objective of this research includes;
Till 2030, the synthesizers category, on the basis of application, would continue holding the largest share in the industry. This is attributed to the growing demand for cellulose acetate, which contains acetic anhydride as a synthesizer. Compared to acetic acid, acetic anhydride offers a higher yield and stronger reaction, which is why end users are preferring the latter, as a synthesizer, over the former. From painkillers, the use of cellulose acetate has expanded to fabrics and numerous other applications, which is driving the consumption of acetic anhydride, as a synthesizer for cellulose acetate.
The use of acetic anhydride is predicted to increase at the highest CAGR, of 2.5%, in the agricultural sector. This would be on account of the rising requirement for the compound in synthetic herbicides, along with its ability to prevent the growth of unwanted weeds. With the increasing awareness amongst farmers across developing nations, such as Brazil, India, and Indonesia, about the benefit of the compound in farming, its consumption is predicted to increase rapidly in this industry, in the coming years.
Presently, Asia-Pacific (APAC) is the largest contributor to the acetic anhydride market, as a result of the heavy usage of cellulose acetate for the production of textile fibers, cigarette tows (filters), and plastic products. With the rising demand for cellulose acetate, the consumption of acetic anhydride is rising as a synthesizer. In the coming years though, the fastest industry growth would be witnessed in the Middle East and African (MEA) region, where the demand for the compound is rising for the production of apparel, furniture upholstery, tobacco filters, and automotive upholstery and processing of frozen food products.
Make enquiry before purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=acetic-anhydride-market
Some of the key players operating in the global acetic anhydride market are Celanese Corporation, Eastman Chemical Company, Jiangsu Danhua Group Co. Ltd., Jubilant Life Sciences Ltd., Saudi International Petrochemical Company, Lonza Group Ltd., BP p.l.c, China National Petroleum Corporation, RLG Group, Daicel Corporation, Merck KGaA, Taj Pharmaceuticals Limited, Thermo Fisher Scientific Inc., and Vizag Chemical International.
Based on Application
Based on End-Use Industry
More Reports by P&S Intelligence
Organic Fertilizers Market
The global organic fertilizers market was valued at $4,512.1 million in 2019 and is projected to demonstrate a CAGR of 14.1% during the forecast period (2020–2030). During the historical period (2015–2019), Europe held the largest revenue share in the organic fertilizers market.
APAC held the largest revenue share in polypropylene market in 2019. The region is also projected to grow fastest in coming years. This can be due to the rising usage of polypropylene in packaging, consumer & institutional, transportation, furniture & furnishings, building & construction, machinery, and electrical & electronic industries.
Globally, APAC held the largest revenue share in the chlorine market in 2019, and the trend is likely to continue during the forecast period. The production of EDC/PVC in the APAC region has been at a rise, owing to its rising demand from the building & construction, electrical & electronics, and automotive sectors. PVC is also widely used for door sidings, insulation, shingles, roofing, and flooring.
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.