Anhydride is an organic functional group which has two acyl groups attached with the oxygen atom. The formula of the anhydride is shown as (RC (O)) 2O. Anhydrides are prepared by various process, but anhydride is mainly produced by the carbonylation of acetate such as maleic anhydride is produced by the oxidation of benzene or butane. Presently, anhydride available in several types such as acetic anhydride, maleic anhydride, isobutyric anhydride, propionic anhydride, phthalic anhydride, isatoic acid anhydride, and others.
Key Players and Competition Analysis
Key players of the global anhydrides market are Huntsman International LLC (US), LANXESS (Germany), BASF SE (Germany), Celanese Corporation (US), E. I. du Pont de Nemours and Company (US), Eastman Chemical Company (US), Solvay S.A. (Belgium), Akzo Nobel N.V (Netherlands), SABIC (Saudi Arabia), HaiShun Chemical Co. ltd. (China), and others.
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Segmentation Analysis
The global anhydrides market is majorly segmented based on composition, types, application, end users and region. Based on composition of anhydrides the market is segmented into organic and inorganic anhydrides. Based on types of anhydrides the market is segmented into acetic anhydride, maleic anhydride, isobutyric anhydride, propionic anhydride, phthalic anhydride, isatoic acid anhydride, and others. Furthermore, based on application of anhydrides the market is segmented into as pesticides, plasticizer, dye & pigments, additives, flavors, and others. Moreover, based on end user the market segmented into construction, pharmaceutical, automotive, agrochemicals, textiles, food & beverages, and other industry, and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
Regional Analysis
Asia Pacific is the largest market of anhydrides due to large consumption in agriculture, pharmaceuticals, and textile industry, in China region followed by India and Japan. Increasing demand for textile industry in China, India, Japan, Taiwan, Indonesia, and South Korea has made Asia Pacific largest consumer of the global anhydrides market followed by increasing in the consumption of Anhydrides Market in Europe region. In Europe region, anhydrides market is driven by agricultural, pharmaceutical, food & beverages, and others industry. In addition, the third largest market of anhydrides is North America region due to large consumption in agriculture and pharmaceutical industry. Moreover, Latin America and Middle East also observed in growth of anhydrides market due to various application such as pesticides, plasticizer, dye & pigments, additives, flavors, and others.
Market Scope
There is a huge demand for anhydride from APAC region, countries such as China, India and Japan. Japan and China are majority anhydride consumers. Increasing demand from various industry such as agriculture, pharmaceuticals, and textile in India is probable to offer better opportunity for the anhydride market in India. On the other hand, Europe hold the second position due to huge demand in pharmaceuticals, construction, food & beverages, and others followed by North America.
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