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.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report

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.

Expanding operations in future? To get the perfect launch ask for a custom report

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
  • Daicel
  • Zengrui
  • Zhonggang
  • Jinon

Global Propionic Anhydride Market: Research Scope

Global Propionic Anhydride Market, by End-use Industry

  • Food & Beverages
  • Pharmaceutical
  • Chemical
  • Agrochemical
  • Others

Global Propionic Anhydride Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Propionic Anhydride Market

Pre Book