Acetic anhydride is a translucent, colorless liquid with a strong, sour smell very similar to acetic acid from which it is synthesized, and it is an essential reagent in the organic synthesis of several chemicals. According to BlueQuark Research & Consulting, the global acetic anhydride market is expected to witness a significant growth rate during the forecasted period. Factors like increasing acetic anhydride demand from the pharmaceutical industry as an intermediate are expected to drive the market in the forecasted period. Further, the rising demand for cellulose acetate flake drives the acetic anhydride market globally. Increasing the demand for filter tow applications in cigarettes is expected to propel the Acetic anhydride market. Furthermore, increasing research and development (R&D) activities to deploy cellulose fiber as a substitute for cotton to meet the surging demand in the textile industry is invigorating the market growth of acetic anhydride in the forecasted periods. However, the factors such as declining usage of acetic anhydride in cellulose acetate for domestic consumption and environmental regulations are the potential restraints restraining the overall growth of the global market. These are specific barriers and obstacles faced that will limit the market growth.

Acetic anhydride is predominantly used in artificial sweeteners, pharmaceuticals, resins, polymers, coatings, modified starches, and the pesticides market.

The Pharmaceutical industry is the primary and vital consumer of Acetic anhydride and is estimated to drive the global demand for Acetic anhydride. Acetic anhydride is a critical raw material required in producing medicines, such as acetylsalicylic acid (aspirins), sulfa drugs, specific vitamins and hormones, acetyl-p-aminophenol, cortisone, acetanilide, theophylline, acetylcholine hydrochloride, acetophenacetin, sulfonamides, and paracetamol. The growing generic health issues such as cold, fever, and body pain have raised the demand for paracetamol and aspirin-like drugs produced using acetic anhydride. This has led to increased 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 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. It is extensively used to produce various drugs, like paracetamol and aspirin. As these drugs are some of the most popular drugs, the rise in health-related issues such as vomiting, aches, and fever, among others, are increasing their use, which is invigorating the growth of the acetic anhydride industry. The rising demand for hormonal drugs to treat various chronic illnesses such as cancer and hormonal disorders like allergic rhinitis, prostate disorders, hypothyroidism, and infertility, among others, provides further impetus to the market growth. Moreover, the increasing accessibility to healthcare in various countries in the region, owing to various favorable initiatives, is growing the demand for generic drugs like aspirin.

The Asia-Pacific region is anticipated to be the fastest-growing market due to increasing demand from end-user industries such as textiles, pharmaceuticals, and polymers. The need for acetic anhydride is enormous from China, Japan, and India. North America is the prime market segment in terms of order due to the massive demand from the cellulose acetate demand and the pharmaceutical industry. Acetic anhydride is an essential reagent in the organic synthesis of many chemicals. It is used in cellulose acetate and aspirin products for perfumes and wood preservatives. It has corrosive properties to metals and tissue; it is extensively used as a wood preservative for producing durable timber. The market for acetic anhydride is driven mainly by great demand from the cigarette tow market. Acetic anhydride is also produced through recovered acetic acid from processes associated with cellulose acetate. Cellulose acetate derivatives consist of cellulose di-acetate and tri-acetate, cellulose acetate propionate (CAP), acetaminophen, cellulose acetate butyrate (CAB). Cellulose acetate flakes produce plastics, cigarette filters, and filament yarns. Acetic anhydride is also utilized in fragrances & flavors, dyes, and the textile industry. Acetate cellulose is primarily used in acetate textile fibers, thus accelerating the demand for acetic anhydride. Acetic anhydride is also utilized to manufacture tetraacetylethylenediamine (TAED) which can be worn as a bleach activator in the laundry detergents market. Moreover, acetic anhydride is also steadily employed for producing polytetramethylene ether glycol, which is used in spandex manufacturing. 

The market for acetic anhydride is partially segmented. Major key players in the acetic anhydride market were SABIC, BASF SE, Honeywell, Eastman Chemical Company, DuPont, Jubilant Life Sciences, and Sasol Limited.

On January 1, 2021, INEOS acquired BP's global Aromatics & Acetyls business. This acquisition consists of 15 sites worldwide (5 in the Americas, 2 in Europe, and 8 in Asia) and ten leading joint ventures (JVs). The acquisition was made for USD 5 billion.

Global Acetic Anhydride Market report provides deep insight into the Acetic Anhydride Market's current and future state across various regions. The study comprehensively analyzes the Acetic Anhydride Market by segmenting based on Application (Coating Materials, Explosives, Plasticizers, Synthesizers, Other Applications), End-user Industry (Tobacco Industry, Pharmaceutical Industry, Laundry & Cleaning Industry, Agrochemical Industry, Textile Industry, and Others), and Geography (North America, Asia-Pacific, South America, Europe and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers & includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies' profiles, including their market shares and projects.