Acetic Anhydride Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Manufacturing Process, Policy and Regulatory Landscape, 2015-2034

H1 2023: In the first half of 2023, prices for acetic anhydride in the Asian market displayed a mixed trend. Acetic Anhydride prices were low in January 2023 due to weak demand dynamics and stable cost pressure but soon hiked in February 2023. Positive price realizations were the result of improved demand from downstream industries such as the pharmaceutical industry. However, since acetic acid's cost pressure subsided and offtakes remained mostly consistent with few to no fresh inquiries, acetic anhydride prices fell in March 2023. In April 2023, Celanese Corporation, one of the renowned chemical producers on a global scale, had its site in China shut for about 13 days for maintenance purposes. In the Chinese market, acetic anhydride prices increased in April but declined by the end of May 2023. To meet the demand from the downstream industries, the market also had sufficient acetic anhydride stockpiles. Furthermore, the market for acetic anhydride continued to be plagued by China's deflation issues and poor economic recovery, which contributed to the market's overall bearish outlook. Additionally, because of the weak downstream demand, the plants were running more slowly in China. In the first three months of 2023, prices for acetic anhydride on the US market had a mixed trend. In the first two months, consistent cost pressure from acetic acid and solid demand fundamentals from the pharmaceutical industries led to steady offtakes, which in turn led to a steady increase in prices. However, due to low feedstock prices and steady offtakes, the acetic anhydride market has recently turned bearish in March 2023 in China. 

H1 2022: In May 2022, Celanese Corporation, one of the leading producers of chemicals, declared for majeure for acetyl acid-based products in the western nations. The products include Acetic anhydride, Acetic acid, Vinyl acetate monomer, and few other products. The reason behind the force majeure was the shortage of raw material across the Texas Gulf Coast. Since, Celanese is one the largest producers of acetic anhydride, this incident affected the entire global supply chain of the commodity, especially in the western regions. North America witnessed a fluctuating market for acetic anhydride during H1 2022. The market prices for acetic acid, the primary raw material, rose from April 2022, but acetic anhydride showed unstable price trends in North America. Demand of acetic anhydride from the downstream industries like plastics, dyes and pharmaceutical industries flickered from April 2022, but was strong in May 2022. In the United States, acetic anhydride prices rose for the first time in April, stabilized in June, and then began to decline in the end of June 2022. In the Asia Pacific region, acetic anhydride prices dipped from April to June 2022 due to weak downstream demand by the end-user industries. Demand for acetic anhydride from the dyes, plastics and pharmaceutical industries declined during this period. In addition, the price of acetic anhydride fell as the market price of acetic acid, a raw material, fell. On the other hand, China's acetic anhydride price was on an upward trend until May and started to fall in June 2022.

H2 2022: In October 2022, Celanese Corporation, one of the leading chemical producers, announced to lift its force majeure which was announced back in May 2022. The force majeure lasted 6 months and was much awaited by the major consumers of acetic anhydride across the globe.  Acetic anhydride prices fell steadily over the first three months of H2 2022 in North America due to weak cost support and stable to bearish demand trends. As methanol prices fell during H2 2022, acetic acid raw material prices fell sharply during this period. Meanwhile, energy commodity prices soared. Market players witnessed sufficient supply and inventory levels to meet domestic demand of the end-user industries like pharma, cleaning, and other industries across North America. Similarly, Asia Pacific witnessed a bearish market for acetic anhydride during H2 2022. Acetic anhydride prices slumped as demand by downstream industries lowered coupled with low production costs. Acetic acid prices remained sluggish in the region during H2 2022. Asia Pacific’s local firms report stable inventory levels of acetic anhydride in the market. The operating rates of several acetic anhydride facilities were at stable with plenty of material available in the regional market, But, as lockdowns tightened in China, logistical restrictions strained the Acetic Anhydride supply chain.

The global Acetic Anhydride demand stood at approximately 2186 thousand tonnes in 2023 and is expected to grow at a CAGR of 4.90% during the forecast period until 2034. Recently, Laxmi Organic Industries Ltd commissioned an acetic anhydride plant in Mahad, India along with another plant for producing n-propyl acetate. This plant will have an annual production capacity of 18 thousand tonnes per annum of acetic anhydride once in operation.

Acetic anhydride, also known as ethanoic anhydride, is an organic compound with the chemical formula C4H6O3. This compound is synthesized by dehydration of acetic acid. This colorless liquid is used to manufacture various commodities such as drugs, plastics, dyes, perfumes, explosives, etc. It is widely employed in the manufacture of several medications, including aspirin and paracetamol. These medications are among the most widely used, and the rise in health problems including aches, nausea, and fever, among others, is driving up demand for them. Moreover, it is used as a raw ingredient in the production of other medicines as well including acetaminophen, cortisone, theophylline, etc. Other applications of acetic anhydride also include the production of cellulose acetate and its usage as an organic reagent for manufacturing other chemicals.  

The growing demand for drugs across the globe is mainly driving the acetic anhydride market. Furthermore, the growing need for hormone medications to address a variety of chronic illnesses like cancer and hormonal disorders like infertility, allergic rhinitis, prostate issues, hypothyroidism, and others, also provides a push to the acetic anhydride market. The packaging industry is increasingly using cellulose acetate (a derivative of acetic anhydride) as a substitute for petroleum-based materials due to its biodegradable qualities, which further adds up to the market expansion. The size of the global Acetic Anhydride market in terms of volume is estimated to reach nearly 3688 thousand tonnes by 2034. 

Based on region, Asia Pacific is dominating the global Acetic Anhydride market, followed by North America. In 2023, Asia Pacific held a market share approximately of 50% of the global Acetic Anhydride. Also, the demand for generic medications like aspirin is rising as a result of the region's favorable measures accelerating access to healthcare in various nations such as India and China which is anticipated to propel the acetic anhydride market in the upcoming years. In terms of production, the Asia Pacific region is again in the lead with China and India being the biggest stakeholders.  

Based on the end-user industry, the global Acetic Anhydride market is segmented into Cellulose acetate, Industrial starch, Pharmaceuticals, and Agrochemicals. Among these, the cellulose acetate sector is in the lead and held more than 45% of the market share in 2023. Additionally, the Industrial sector is also a prominent consumer of the Acetic Anhydride market. 

Major players in the production of Global Acetic Anhydride are Eastman Chemical Co, Celanese Corporation, INEOS Group Limited, Ningbo Wanglong Technology Co.,Ltd, Daicel Industries, Jubilant Ingrevia Limited, Jiangsu Danhua Group Co.,Ltd, Jinan Acetate Chemical, and Others. 

Years considered for this report:

Historical Period: 2015- 2022

Base Year: 2023

Estimated Year: 2024

Forecast Period: 2025-2034

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Objective of the Study: 

• To assess the demand-supply scenario of Acetic Anhydride which covers production, demand and supply of Acetic Anhydride   market in the globe.

• To analyse and forecast the market size of Acetic Anhydride   

• To classify and forecast Global Acetic Anhydride market based on end-use and regional distribution.

• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Acetic Anhydride market in the globe.

To extract data for Global Acetic Anhydride market, primary research surveys were conducted with Acetic Anhydride manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Acetic Anhydride market over the coming years. 

ChemAnalyst calculated Acetic Anhydride demand in the globe by analyzing the historical data and demand forecast which was carried out considering the production of raw material to produce Acetic Anhydride. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 

Key Target Audience:

• Acetic Anhydride manufacturers and other stakeholders

• Organizations, forums and alliances related to Acetic Anhydride distribution

• Government bodies such as regulating authorities and policy makers

• Market research organizations and consulting companies

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Acetic Anhydride manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Global Acetic Anhydride market has been segmented into following categories, in addition to the industry trends which have also been detailed below: 

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With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.

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