Expert Market Research’s new report titled “Global Acetic Anhydride Market Report and Forecast 2021-2026′, gives an in-depth analysis of the global acetic anhydride market, assessing the market based on its segments such as application and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2016-2026)
- Historical CAGR (2016-2020): 5%
the Health care in developing countries in the Asia-Pacific region, such as China, India, Thailand and Indonesia, has experienced rapid expansion in recent years, due to increased investment in research and development (R&D) and geographic expansion of major drug manufacturers in the region. This is due to the high growth potential of the medical sector in these countries, as well as the availability of labor and low-cost raw materials. Due to the compound’s requirement as a synthesizer in aspirin, acetaminophen, and a variety of other medicinal drugs, there is a high demand for it. During the forecast period, the consumption of the compound is expected to rise owing to the growing number of drug manufacturing plants, thereby boosting the global acetic anhydride market.
Industry definition and major segments
The chemical compound with the formula (CH3CO)2O is acetic anhydride, also called ethanoic anhydride. It is often abbreviated Ac2O. It is a colorless liquid with a heavy acetic acid smell, which is created when it reacts with the humidity in the air.
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Based on application, the industry can be divided into:
Regionally, the market is segmented into:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
Recently, some key industry developments have shown the potential to drive the market growth over the forecast period. For example, BP plc and China’s Zhejiang Petroleum and Chemical Corporation (ZPCC) signed a memorandum of understanding in October 2019 to explore forming a new, equally-owned joint venture to develop and operate a million tons per annum (tpa) acetic acid plant in eastern China. To manufacture acetic acid, the proposed facility in Zhoushan, Zhejiang province, will use BP’s CATIVA XL technology.
Main market players
Major market players include Celanese Corporation, BP Chemicals, Eastman Chemical Company, Jubilant Life Sciences Ltd., Daicel Corporation, PetroChina Company Limited, Saudi International Petrochemical Company (Sipchem) and others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the globe, our analysts are continuously monitoring the impact of this rapidly evolving situation on markets and consumer buying behaviors. Thus, our latest estimates and analysis on current market trends and forecasts will comprehensively reflect the effects of this emerging pandemic.
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