Market Trends of Acetic Anhydride Industry
This section covers the major market trends shaping the Acetic Anhydride Market according to our research experts:
Increasing Demand from the Pharmaceutical Industry
- Acetic anhydride is a key raw material required in the production of medicines, such as acetylsalicylic acid (aspirins), sulfa drugs, certain vitamins and hormones, acetyl-p-aminophenol, cortisone, acetanilide, theophylline, acetylcholine hydrochloride, acetophenacetin, sulfonamides, and paracetamol.
- There has been an enormous growth in the number of general health issues arising globally, such as fever, cough and cold, body pains, nausea, etc.
- This has led to an increase in demand for drugs, like aspirin and paracetamol. The increasing consumption of these generic drugs has significantly benefitted the market for acetic anhydride.
- Additionally, there has been a rapid growth in the pharmaceutical sector in the past few years. The growth trend is expected to continue over the forecast period, due to the increasing health issues among people.
- All the aforementioned factors, is expected to drive the global market during the forecast period.
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Asia-Pacific Region is Expected to Dominate the Market
- Asia-Pacific is the largest consumer of acetic anhydride in the global market.
- Acetic Anhydride is a key raw material required in the production of medicines, such as acetylsalicylic acid (aspirins), sulfa drugs, and various other medicines.
- The region has witnessed a growth in the number of health issues, which include fever, cough & cold, body pains, nausea, etc. due to the pollution levels from industrial activities.
- Healthcare has become one of the India’s largest sectors, due to its strengthening coverage, services and increasing expenditure by public as well as private players.
- The government’s expenditure on the healthcare sector increased to 1.4% from 1.2%. This has led to an increase in demand for drugs, like aspirin and paracetamol.
- Additionally, the increasing concerns for hygiene and cleanliness have led to the growth of the laundry and cleaning sector in Asia-Pacific, which in turn shall augment the growth of acetic anhydride market during the forecast period.
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