Rising 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. 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.
High Demand from Pharmaceutical and Dye & Pigment Industries
The global pharmaceutical industry is on the rise owing to changing consumer lifestyles as well as increasing spending power and disposable incomes of consumers. This drives the demand for a number of pharmaceutical ingredients of which, acid anhydride is a part. Furthermore, the rising applications in pesticides and herbicides is a key factor anticipated to drive the growth of the acid anhydrides market. With growing population, the need for high yield crop technologies is very crucial. Better crop yields require the use of efficient pesticides and herbicides, which escalates the demand for acid anhydride in the forecast period. Rising outputs have led to industry growths in line with that of the global GDP, further driving the demand growth for acid anhydride. The increasing usage of chemical intermediates and chain stoppers in polymer and rubber manufacturing also fuels the growth of the global acid anhydride market in the forecast period.
Urbanization has a substantial impact on lifestyle and spending the population uses it as a status symbol and demand for varieties and advanced models. Plasticizers are abundantly used in all types of industries to come up with high-performance products this, indirectly raises the need for plasticizers in the industrial sector, and will positively influence the growth of the global acid anhydrides market in the forecast period.
End-user industries, especially pharmaceutical and agricultural sectors, undertake several marketing activities to promote and sell their products. Acid anhydrides are used in their products for providing high-quality performance. Companies promote their products by broadcasting properties, qualities, and usage which escalate the demand acid anhydrides across end-use industries.
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-
On the basis of application, the acid anhydrides market is segmented as-
- Dyes & Pigments
On the basis of end-use industry, the acid anhydrides market is segmented as-
- Food & Beverages
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 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 anticipate to propel the consumption of acid anhydrides. Latin America and Middle East & Africa showcase significant growth due to rise in construction activities in respective regions.
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
- Celanese Corporation
- Eastman Chemical Company
- HaiShun Chemical Co. ltd
The research report presents a comprehensive assessment of the acid anhydrides market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to acid anhydrides market segments such as composition, application, end-use industry, and region.
Acid Anhydrides market report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Acid anhydrides market regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Russia)
- East Asia (China, Japan and South Korea)
- South Asia (India, Thailand, Indonesia, Malaysia)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The acid anhydrides report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, as well as inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with acid anhydrides market attractiveness as per segments. The report also maps the qualitative impact of various market factors on acid anhydrides market segments and geographies.
Acid Anhydrides Market Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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