Propionic Anhydride Market: Snapshot
The propionic anhydride market is projected to demonstrate promising growth during the forecast period. One of the key reasons behind this projection is rising demand for propionic anhydride in pharmaceutical industry. This rise can be attributed to its growing use as a raw material in cellulose production. As cellulose is used as intermediate while manufacturing a few chemicals, there are high growth avenues for propionic anhydride market. Moreover, with increase in the production of many chemicals and pharmaceutical products, analysts expect that the demand for propionic anhydride will rise in the upcoming period.
In food and beverage industry, propionic anhydride is mainly used as a fragrance and flavor agent. At present, food and beverage sector is thriving on worldwide level. Many companies in this sector are growing their efforts to improve the quality of their products. This scenario is expected to drive the demand for propionic anhydride in the sector in the upcoming period, thereby drive the propionic anhydride market.
The quality of propionic anhydride to be soluble in various liquids makes it perfect for use in many applications. Chloroform, alcohol, alkalis, and ether are some of the liquids in which this compound is soluble. Owing to this reason, propionic anhydride is increasingly used in the manufacturing of intermediates, commercial printing inks, herbicides, and lubricants. This wide range of applications signifies growing demand for this organic compound in numerous industries. Similarly, it denotes avenues for the growth of the propionic anhydride market in the upcoming period.
However, there are some factors that can dampen the growth of the global propionic anhydride market. One of the key hindering factors is its toxic nature. When this organic compound comes in contact with human body, it can cause burns. Growing awareness about the toxic effects of propionic anhydride can make the growth of this market sluggish.
Propionic Anhydride Market: Introduction
- Propionic anhydride is a colorless organic compound in a liquid form with pungent odor. It is widely used as a reagent in organic synthesis and for the production of specialty derivatives of cellulose such as cellulose acetate propionate.
- Propionic anhydride is also employed as an acylating agent. For instance, it is used as a raw material in dyes, agrochemicals, pharmaceuticals, and fragrance chemicals.
Key Drivers of Global Propionic Anhydride Market
- The propionic anhydride market is expected to expand at a significant pace during the forecast period primarily due to the rise in consumption of the compound in pharmaceutical applications
- Propionic anhydride is used in the manufacture of pharmaceuticals intermediates, synthetic resins, rubber accelerators, perfumes, crop protection chemicals, and pesticides. This is expected to drive the global propionic anhydride market during the forecast period.
- Propionic anhydride is soluble in alcohol, chloroform, ether, and alkalis. However, it decomposes in water. Therefore, it is majorly used in various applications such as commercial printing inks, food flavors & food fragrances, herbicides, intermediates, lubricants, and pharmaceutical chemicals.
Chemical Intermediate Segment to Offer Lucrative Opportunities
- Propionic anhydride is primarily used as a raw material in the production of cellulose, which is utilized as an intermediate in the production of several chemicals. Increase in demand for propionic anhydride in chemical intermediates and pharmaceutical chemicals is anticipated to boost the market in the near future.
- Propionic anhydride is primarily used in flavor and fragrance agents in the food & beverage industry. The food & beverage sector is expanding at a significant pace in several emerging countries of Asia Pacific. This is estimated to boost the usage of propionic anhydride in the sector in the near future.
Toxic Effects of Propionic Anhydride to Hamper Market
- Propionic anhydride has strong smell and is corrosive. It can cause burns when it comes in contact with the skin. Vapor of propionic anhydride can cause burning sensation in eyes and lungs.
- Propionic anhydride is regulated by the U.S. Drug Enforcement Administration as a List I chemical under the Controlled Substances Act due to its potential use as a precursor in the synthesis of fentanyl and fentanyl analogs
- Increase in awareness regarding the toxic effects of propionic anhydride is anticipated to hamper the market in the near future
Propionic Anhydride Market in Asia Pacific to Expand at Significant Pace
- In terms of region, the global propionic anhydride market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a rapidly growing region of the global propionic anhydride market. China, India, Malaysia, and Indonesia have emerged as major consumers of propionic anhydride in the region.
- China and India are key producers of various pharmaceutical and chemical intermediates. This is expected to boost the demand for propionic anhydride in these countries.
- North America dominated the global propionic anhydride market, owing to the well-established chemical, food & beverages, and pharmaceutical sectors in the region
- Expansion in the agriculture sector and production of agrochemicals in Brazil and Mexico are projected to boost the demand for propionic anhydride in Latin America, owing to its increasing usage in agrochemicals
- Europe is a prominent producer of chemical products, lubricants, and pharmaceuticals. This is augmenting the demand for propionic anhydride in the region.
Key Players Operating in Market
The global propionic anhydride market is highly competitive with the presence of a number of large- and medium-sized players. High growth potential is encouraging new local as well as international players to enter the market.
Key players operating in the global propionic anhydride market include:
- Eastman Chemical Company
- Celanese Corporation
- UPI Chemical
Global Propionic Anhydride Market: Research Scope
Global Propionic Anhydride Market, by End-use Industry
- Food & Beverages
Global Propionic Anhydride 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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