- Anhydride is a chemical compound formed by elimination of elements of the water from another chemical compound. Anhydrides are used in a wide range of applications in pharmaceutical, chemicals, and consumer goods (personal care) industries.
- Anhydrides are chemical compounds, which are part of chemical reactions performed for the formation of esters and resins. Esters typically have a nice fragrance; hence, they are widely used in the manufacture of personal care products (perfumes). Anhydrides are also utilized for the manufacture of synthetic resins. Synthetic resins are employed in the manufacture of surface coatings, adhesives, synthetic textile fibers, etc.
Key Drivers and Restraints of Anhydrides
- The global anhydrides market has been expanding significantly, due to advancements in organic chemistry. Improvement in chemical testing and analysis at the research end is a positive sign for market growth. Vendors in the global anhydrides market are projected to tap into lucrative channels for promoting sales and positioning their products. Furthermore, shift from raw standards of chemical manufacturing to sophisticated processes is becoming a prominent trend in the industry. Therefore, the global anhydrides market is projected to expand significantly in terms of demand in the next few years.
- Development of complex organic compounds is a cumbersome process that requires pinpoint precision. This can act as a barrier for the anhydrides market.
COVID-19 Impact Analysis on Mechanical Industry
- Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, has come to a halt because of lockdowns. This pandemic adversely impacted the supply chain of raw materials. Many mechanical companies closed down temporarily as a safety precaution to avoid the gathering of people. Anhydrides are used as raw materials in the manufacture of surface coatings. These surface coatings are applied industrial components or chassis of a vehicle to avoid wear and tear. Thus, temporary closure of these companies led to sudden drop in consumption of coating materials. This, in turn, hampered the global anhydrides market.
Anhydrides Market Segmentation
- The global anhydrides market can be segmented based on composition, type, application, and end-user
- In terms of composition, the global anhydrides market can be bifurcated into organic anhydride and inorganic anhydride
- In terms of type, the global anhydrides market can be classified into acetic anhydride, maleic anhydride, isobutyric anhydride, propionic anhydride, phthalic anhydride, isatoic anhydride, and others
- In terms of application, the global anhydrides market can be divided into pesticides, plasticizers, dye & pigments, additives, flavors, and others
- In terms of end-user, the global anhydrides market can be segregated into construction, pharmaceutical, automotive, agrochemicals, textiles, food & beverages, and others
Anhydrides Market: Regional Segmentation
- In terms of region, the global anhydrides market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The Canadian government has given a green signal to the use of various types of anhydrides across industries. Testing and experimentation reveal that the current level of exposure to anhydrides in not harmful for the masses. This is expected to benefit vendors operating in the local or even the virtual environment of the chemical industry in Canada.
- Anhydrides are used as raw materials in the production of fertilizers and pesticides. Agricultural activities contribute significantly to the growth of the GDP of India. Thus, expansion of the agriculture industry in India is expected to boost the demand for anhydrides in Asia Pacific.
Key Players Operating in Global Market
Global Anhydrides Market: Research Scope
- Huntsman International LLC
- BASF SE
- Celanese Corporation
- Eastman Chemical Company
- Solvay S.A.
- Akzo Nobel N.V
- HaiShun Chemical Co. ltd.
- Nova Chemicals Corp
Global Anhydrides Market, by Composition
- Organic Anhydride
- Inorganic Anhydride
Global Anhydrides Market, by Type
- Acetic Anhydride
- Maleic Anhydride
- Isobutyric Anhydride
- Propionic Anhydride
- Phthalic Anhydride
- Isatoic Anhydride
Global Anhydrides Market, by Application
- Dye & Pigments
Global Anhydrides Market, by End-user
- Food & Beverages
Global Anhydrides Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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