Acetic Anhydride Market Global Industry Analysis, Growth, Trends by 2023

The acetic anhydride market is growing due to increased demand for cigarette filter tow in emerging economies, particularly in the BRIC countries. The increasing smokers in these countries attributes to the growth of the market as Cellulose acetate flake being the major raw material for producing cigarette filter tow is made by using acetic anhydride. Also, acetate cellulose is used in producing acetate textile fibers which drives the demand for acetic anhydride.

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North America leads the acetic anhydride market owing to huge demand from cellulose acetate market and from the pharmaceutical industry. However, strict environmental regulations are likely to restrict the market in North America. Asia Pacific follows North America in the acetic anhydride market share and is estimated to be the fastest growing market for acetic anhydride owing to increase in demand from several industries such as textiles, polymer, pharmaceuticals and among others.

Decline in the usage of acetic anhydride in domestic consumption of cellulose acetate and stringent environmental regulations have shown to restrain the global acetic anhydride market. Also, the prices of acetic anhydride have shown a significant growth due to volatility in price of methanol, which is a major raw material for the production of acetic acid. This has made it difficult for manufacturers to maintain profit margins.

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Some of the key players in the industry include BASF SE, Eastman Chemical Company, Celanese Corporation, DuPont, Jubilant Life Sciences, BP Chemicals, Sasol Limited, SABIC, and PetroChina Company Ltd. among others.