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.
There is a huge demand for acetic anhydride from countries such as China, India and Japan. Japan and China are majority acetic anhydride consumers in the Asia Pacific region. Growth of industries textile, polymer and pharmaceuticals in India is likely to provide better opportunity for the acetic anhydride market in India. Acetic anhydride market in Europe is driven by growing demand of TAED for laundry market and cellulose acetate for cigarette market. Italy, Germany, the U.K and France are the main consumers of acetic anhydride in the European region. The demand is stable in Rest of the World for the acetic anhydride market in coming years.
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The trading associated with acetic anhydride is highly monitored and controlled globally as it is associated with the production of heroin.
The global acetic anhydride market can be categorized on the basis of application into Pharmaceuticals, Cellulose Acetate, PTMEG, TAED, and 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.
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.
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