Anhydrides Market | Size, Global Demand, Value Share and Key Trend, Comprehensive Analysis and Future Investments by Forecast to 2023


Posted February 24, 2021 by Marketresearchfuture

Anhydrides Market | Size, Global Demand, Value Share and Key Trend, Comprehensive Analysis and Future Investments by Forecast to 2023
 
Market Overview:
Anhydrides is used in various industry such as construction, pharmaceutical, automotive, agrochemicals, textiles, food & beverages, and other industry. It is highly used in various applications such as pesticides, plasticizer, dye & pigments, additives, flavors, and others. In addition, the growing agriculture, pharmaceutical, and construction industry is driving the anhydrides market globally. On the basis of geography, market share of anhydrides is high in Asia Pacific region and is also expected to increase at a high growth rate as compared to other regions such as Europe, North America, Latin America and Middle East.
Market Segmentation:
Global anhydrides market is segmented by composition, type, applications, end user industry, and region. On the basis of composition the anhydrides market is bifurcate as organic and inorganic anhydrides. Whereas, on the basis of types anhydrides market is segmented as acetic anhydride, maleic anhydride, isobutyric anhydride, propionic anhydride, phthalic anhydride, isatoic acid anhydride, and others. Among all types acetic anhydride which is also known as ethanoic anhydride, transparent liquid that smells strongly of acetic acid, is a major industrial chemical widely applicable during the production of acetate esters such as cellulose acetate which is a component of photographic film and other coated materials and mainly utilize in the production of cigarette. Acetic anhydride widely used as a reagent in organic synthesis such as aspirin, salicylic acid, polymers, dyes, flavors, fragrances, etc. However, falling consumption of acetic anhydride in cellulose acetate for domestic consumption can have major negative influence on the market. Secondly, maleic anhydride which is highly used in automotive, additives, copolymers, unsaturated polyester resin, and others. Thirdly, isobutryic anhydride is a transparent liquid with a strong acrid odor, used as a raw material for esters such as sucrose acetate isobutyrate. It is used also as a raw material for dyes, agrochemicals, pharmaceutical, food industry, and other chemicals industry. Propionic anhydride is a transparent liquid having a strong odor and high boiling point. It is soluble in chloroform, alcohol, ether, and alkalies. It has various applications such as anesthetics, herbicides, flavorings, fragrance intermediate, and pharmaceuticals. Furthermore, Asia-Pacific region is the largest market for phthalic anhydride due to huge consumption in alkyd resins, plasticizers, and unsaturated polyester resins. Phthalate plasticizers are used for the production of flexible PVC products such as pipes, synthetic leather, cables, shoes, film, etc.
On the basis of application the anhydrides market is segmented into pesticides, plasticizer, dye & pigments, additives, flavors, and others. On the other hand, on the basis of end user the anhydrides market is segmented into construction, pharmaceutical, automotive, agrochemicals, textiles, food & beverages, and other industry. Among all industry agriculture, textile, and pharmaceutical industry occupied the highest market share. The increasing consumption of anhydrides in various industry such architectural, pharmaceutical, textile, plastic, and others will drive the global anhydrides market in the forecasted period.
Regional Analysis
Asia Pacific is the largest market of anhydrides due to large consumption in agriculture, pharmaceuticals, and textile industry, in China region followed by India and Japan. Increasing demand for textile industry in China, India, Japan, Taiwan, Indonesia, and South Korea has made Asia Pacific largest consumer of the global anhydrides market followed by increasing in the consumption of anhydrides market in Europe region. In Europe region, anhydrides market is drive by agricultural, pharmaceutical, food & beverages, and others industry. In addition, the third largest market of anhydrides is North America region due to large consumption in agriculture and pharmaceutical industry. Moreover, Latin America and Middle East also observed in growth of anhydrides market due to various application such as pesticides, plasticizer, dye & pigments, additives, flavors, and others.
Competitive analysis-
 Huntsman International LLC
 LANXESS
 BASF SE
 Celanese Corporation
 E. I. du Pont de Nemours and Company
 Eastman Chemical Company
 Solvay S.A.
 Akzo Nobel N.V
 SABIC
 HaiShun Chemical Co. ltd.
Most of the anhydride manufacturers are assessing the market in order to increase their revenues worldwide such as on JULY 1, 2013 Celanese Corp. intends to sell its acetic anhydride facility in Roussillon, France, and its vinyl acetate monomer (VAM) production unit in Tarragona, Spain. On the other hand, on 22 Nov 2012 Akzo Nobel’s Pulp and Performance Chemicals business, formerly Eka Chemicals, announced that it plans to divest the European alkenyl succinic anhydride (ASA) business, including parts of the production facility in Duren, Germany, to Italian Mare Holding. The two companies have agreed to foresee the achievement of the transaction for the end of the year.
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Last Updated February 24, 2021