Press release
Usage of Acetic Anhydride Increasing in Pharmaceutical Sector
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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 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.
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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.
Contact:
Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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