How Is Pharmaceutical Industry Growth Strengthening Acetic Anhydride Market?
Factors, such as the rising number of geriatric patients and the booming pharmaceutical sector, especially in the Asia-Pacific (APAC) region, are expected to fuel the acetic anhydride market at a CAGR of 2.3% during the forecast period (2020–2030). According to P&S Intelligence, the market was valued at $3,476.1 million in 2019, and it will generate $4,950.4 million revenue by 2030. At present, the market is consolidated in nature due to the presence of eminent players, such as Jubilant Life Sciences Ltd., Eastman Chemical Company, Saudi International Petrochemical Company, Jiangsu Danhua Group Co. Ltd., and Celanese Corporation. The demand for acetic anhydride is primarily driven by the flourishing pharmaceutical industry in developing countries of the APAC region, such as India, Indonesia, Thailand, and China. The growth in the pharmaceutical industry in such countries can be ascribed to the mounting investments being made in research and development (R&D) activities in the ...