Latest Analysis of Acetic Anhydride Prices, Price Trend, and Future Outlook | IMARC Group
What is the purpose of Acetic Anhydride?
Acetic anhydride is a key chemical used in the production of cellulose acetate, which is widely used in cigarette filters, coatings, and textiles. The rising consumption of tobacco products, especially in developing regions, has led to a significant demand for cellulose acetate, thereby boosting the acetic anhydride market. Additionally, its role as a precursor in the production of aspirin and other pharmaceuticals contributes to market growth, driven by the expanding healthcare industry and increased demand for over-the-counter (OTC) medications. The agrochemical industry also relies on acetic anhydride to produce pesticides and herbicides, further fueling its demand as global agricultural activities intensify. The growth of the Acetic Anhydride Price Trend is driven by increasing demand from various industries, particularly in pharmaceuticals, agrochemicals, and plastics.
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Acetic Anhydride Prices First Quarter 2024:?
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Factors Affecting Acetic Anhydride Prices in the Different Regions:
In North America: The acetic anhydride market in North America during the first quarter of 2024 maintained stability, driven by consistent demand from downstream sectors and an uninterrupted supply chain. The USA witnessed a price increase in the second half of the quarter despite no significant plant shutdowns. Demand from the construction industry remained strong, with projections for further growth due to government-led initiatives aimed at enhancing the workforce through apprenticeship and community college programs. This positive sentiment is expected to spur short-term market expansion. Although prices rose compared to the previous quarter, the market's resilience ensured supply remained unaffected, indicating a steady outlook for the region.
In the Asia Pacific Region: Besides this, the APAC region experienced a challenging market in the first quarter of 2024, characterized by a notable price decline. This downturn was largely influenced by weakened support from the key feedstock, acetic acid, along with oversupply and reduced demand from sectors like laundry and detergent. China saw a significant drop in prices compared to last year's period. The lack of improvement in overseas demand further subdued market growth.
In Europe: Furthermore, in the European region, the market faced a downturn in the first quarter of 2024, driven by subdued acetic acid prices, influenced by stable Methanol costs and high inventory levels. This led to downward pressure on acetic anhydride pricing despite steady import prices from China. The European Central Bank's decision to maintain high interest rates further constrained demand by affecting purchasing power in downstream industries. Additionally, the contraction of the manufacturing sector, as reflected in the Purchasing Managers' Index (PMI), weakened demand for chemicals.
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Overall, Price Trend and Regional Prices Analysis:?
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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