Press release
Rapid Industrialization And Increasing Construction Activities Are Escalating The Growth Of The Acid Anhydrides Market
Market OverviewRising disposable incomes and significantly increasing end-use industries in emerging economies such as China and India, will escalate the demand for acid anhydrides across the globe. An acid anhydride refers to an acidic oxide, an oxide that reacts with water to form an oxyacid, or with a base to form a salt.
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An acid anhydride is a compound with the functional group R(CO)O(CO)R'. Organic acid anhydrides often form when one equivalent of water is removed from two equivalents of an organic acid in a dehydration reaction. There is a massive demand from East Asia and South Asia as countries such as India and China are leading consumers of acid anhydrides. Leading players in the global market are engaged in enhancing the quality of acid anhydrides to maintain their supremacy in the worldwide market.
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Acid Anhydrides Market Regional Outlook
Geographically, the acid anhydrides market has been categorized into seven prominent regions, including North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa. Europe is estimated to be the largest consumer in the global acid anhydride market. The region is driven by rapidly increasing pharmaceutical, automotive, and agriculture industries. East Asia is expected to be the second-largest region in the global acid anhydrides market.
The rapid industrialization and increasing construction activities are escalating the growth of the acid anhydrides market. The significant growth in end-use industries in emerging economies such as China and India is anticipated to propel the consumption of acid anhydrides. Latin America and Middle East & Africa showcase significant growth due to the rise in construction activities in respective regions.
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Acid Anhydrides Market Key Players
Key companies in the market of acid anhydrides are focusing on increasing their R&D activities, which help them to enhance their market presence and to maintain supremacy in the global acid anhydrides market. Key players in the acid anhydrides market are mentioned below-
BASF SE
DowDuPont Chemical Company
Solvay S.A.
Akzo Nobel N.V
Huntsman International LLC
LANXESS
Celanese Corporation
Eastman Chemical Company
SABIC
HaiShun Chemical Co. ltd
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Acid Anhydrides Market Segmentation
The global acid anhydrides market can be segmented on the basis of composition, application, and end-use industry.
On the basis of composition, the acid anhydrides market is segmented as-
Inorganic
Organic
On the basis of application, the acid anhydrides market is segmented as-
Pesticides
Plasticizers
Dyes & Pigments
Additives
Flavors
Others
On the basis of end-use industry, the acid anhydrides market is segmented as-
Construction
Pharmaceuticals
Automotive
Agrochemicals
Textiles
Food & Beverages
Others
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