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North America Acetic Anhydride Market Outlook
According to the report by Expert Market Research (EMR), the north america acetic anhydride market size is projected to grow at a CAGR of 3.4% between 2024 and 2032. Aided by the expanding applications of acetic anhydride in various sectors and a steady demand for acetyl chemicals, the market is expected to grow significantly by 2032.
Acetic anhydride, a significant reagent in organic synthesis, is primarily used in the creation of a wide range of products encompassing pharmaceuticals, textiles, coatings, and plastics. The compound’s dominant application is in the manufacturing of cellulose acetate, a fundamental component in photographic films and textiles. Notably, in pharmaceuticals, it serves as a key intermediate in the synthesis of several therapeutic drugs, including aspirin and paracetamol.
A principal driver for the North America acetic anhydride market growth is the escalating demand for pharmaceutical products. The continuous exploration and development in drug discovery, coupled with an ageing demographic and increase in chronic diseases, has resulted in a surge in pharmaceutical demand, thus fuelling the acetic anhydride market. Further, the rising trend of self-medication and over-the-counter drugs continues to propel market expansion.
In addition to pharmaceuticals, acetic anhydride finds extensive applications in the textiles and coatings industry. The robust growth of the fashion industry, compounded by the rising living standards and disposable incomes, is boosting the textiles market, thereby leading to increased demand for acetic anhydride. Simultaneously, in the coatings sector, the escalating construction activities and the demand for high-quality finishes are driving the acetic anhydride market growth.
Furthermore, the ongoing technological advancements in manufacturing processes are expected to lead to more efficient and environmentally friendly production methods. Also, the emergence of bio-based acetic anhydride could provide new growth opportunities for the market. Technological advancements in manufacturing processes are expected to introduce more efficient and environmentally friendly production methods. Moreover, the emergence of bio-based acetic anhydride could present new growth opportunities for the North America acetic anhydride market expansion.
Beyond its industrial applications, acetic anhydride is also key to the production of modified starches and sweeteners in the food industry, leading to a rise in demand. This increase is compounded by the growing interest in processed and convenience foods, which often rely on modified starches and sweeteners for taste and texture, boosting the North America acetic anhydride market development.
North America Acetic Anhydride Market Segmentation
The market can be divided based on application and country.
Market Breakup by Application
• Cellulose Acetate Flakes
• Pharmaceuticals
• Tetraacetylethylenediamine (TAED)
• Others
Market Breakup by Country
• United States
• Canada
• Mexico
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the North America acetic anhydride companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Celanese Corporation
• Eastman Chemical Company
• Jubilant Ingrevia Limited
• DuPont de Nemours, Inc.
• Ineos Group Ltd
• Others
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