Acetic Anhydride Sales To Boom in Asia-Pacific in Near Future

In the recent years, the healthcare sector has surged sharply in the developing nations of Asia-Pacific (APAC) such as India, China, Indonesia, and Thailand, primarily because of the huge research and development (R&D) investments and the expanding operations of various leading medical drug producing companies. In addition to these, the abundant availability of raw materials and low-cost labor also contributed toward the expansion of the healthcare sector in this region.'

The growth of this sector positively impacted the sales of acetic anhydride, as the compound is used heavily as a synthesizer in acetaminophen, aspirin, and various other medicated drugs. Moreover, with the surging number of drug production plants in APAC, the demand for the compound is predicted to explode in the coming years. Apart from this, the mushrooming population of geriatric people is also driving the demand for the compound across the world.

According to the forecast of P&S Intelligence, a market research firm based in India, the value of the acetic anhydride market will rise from $3,476.1 million in 2019 to $4,950.4 million by 2030. Furthermore, the market is expected to advance at a CAGR of 2.3% from 2020 to 2030. Reagents, synthesizers, plasticizers, and coating materials are the biggest application areas of the compound. Amongst these, the usage of the compound as synthesizers will rise at the fastest rate in the coming years.

This will be because of the soaring usage of the compound in the production of cellulose acetate. Thus, the surging requirement for cellulose acetate in several end-use industries is propelling the sales of acetic anhydride. Geographically, the demand for acetic anhydride is expected to be the highest in the APAC region in the forthcoming years. This is credited to the surging usage of the compound in textile fiber, plastic product, food additive, and tobacco filter production in the region. 

Hence, the sales of acetic anhydride are certain to shoot up in the coming years, mainly due to the booming pharmaceutical and food & beverages industries and the mushrooming population of geriatric people all over the world.

Source: www.psmarketresearch.com