Acetic Anhydride Market

The article discusses the increasing demand for acetic anhydride worldwide, with a forecasted upward trend in consumption over the next eight years. Market performance is expected to accelerate, with growth in both volume and value terms. Key statistics include consumption trends, production volumes, import and export data, and average prices. Major consuming and producing countries are highlighted, with notable growth rates and trends identified. The global market for acetic anhydride is analyzed in detail, providing valuable insights for businesses and stakeholders in the industry.

Market Forecast

Driven by increasing demand for acetic anhydride worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market volume to 657K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.1% for the period from 2022 to 2030, which is projected to bring the market value to $632M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Acetic Anhydride

In 2022, consumption of acetic anhydride decreased by -8% to 504K tons for the first time since 2017, thus ending a four-year rising trend. The total consumption volume increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Global consumption peaked at 548K tons in 2021, and then shrank in the following year.

The global acetic anhydride market size amounted to $460M in 2022, surging by 1.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $570M in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Mexico (138K tons), the United States (110K tons) and Germany (75K tons), together accounting for 64% of global consumption. Saudi Arabia, the Netherlands, Switzerland, South Korea, France, Spain, Norway and Italy lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Switzerland (with a CAGR of +30.4%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($120M), Germany ($104M) and the Netherlands ($30M) were the countries with the highest levels of market value in 2022, together comprising 55% of the global market. Switzerland, Saudi Arabia, France, South Korea, Italy, Spain and Norway lagged somewhat behind, together accounting for a further 28%.

In terms of the main consuming countries, Switzerland, with a CAGR of +33.9%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of acetic anhydride per capita consumption in 2022 were Switzerland (2,046 kg per 1000 persons), Norway (1,610 kg per 1000 persons) and the Netherlands (1,334 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Switzerland (with a CAGR of +29.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Acetic Anhydride

In 2022, production of acetic anhydride increased by 1.2% to 378K tons, rising for the eighth year in a row after two years of decline. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 21% against the previous year. Over the period under review, global production attained the peak volume at 395K tons in 2012; however, from 2013 to 2022, production failed to regain momentum.

In value terms, acetic anhydride production reduced to $251M in 2022 estimated in export price. Over the period under review, production, however, recorded a noticeable setback. The growth pace was the most rapid in 2016 with an increase of 36%. Global production peaked at $406M in 2012; however, from 2013 to 2022, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (148K tons), Mexico (138K tons) and Saudi Arabia (42K tons), together comprising 87% of global production.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +2.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Acetic Anhydride

In 2022, the amount of acetic anhydride imported worldwide rose rapidly to 472K tons, picking up by 11% on 2021. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 26%. Over the period under review, global imports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, acetic anhydride imports surged to $616M in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +54.9% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports By Country

Belgium was the major importing country with an import of around 155K tons, which accounted for 33% of total imports. Germany (76K tons) ranks second in terms of the total imports with a 16% share, followed by the Netherlands (14%), the United States (6.6%) and Switzerland (5.3%). France (17K tons), South Korea (14K tons), India (13K tons), Spain (12K tons), Norway (9K tons), Italy (8.7K tons) and Singapore (8.3K tons) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to acetic anhydride imports into Belgium stood at +2.2%. At the same time, India (+21.8%), Spain (+8.5%), Norway (+5.7%), Switzerland (+5.3%), the Netherlands (+4.9%), Germany (+2.0%), the United States (+2.0%) and South Korea (+1.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +21.8% from 2012-2022. France and Italy experienced a relatively flat trend pattern. By contrast, Singapore (-1.4%) illustrated a downward trend over the same period. The Netherlands (+4 p.p.), Belgium (+2.8 p.p.), India (+2.3 p.p.) and Switzerland (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest acetic anhydride importing markets worldwide were Belgium ($171M), Germany ($110M) and the Netherlands ($86M), together accounting for 60% of global imports. Switzerland, the United States, France, South Korea, India, Italy, Spain, Norway and Singapore lagged somewhat behind, together comprising a further 30%.

India, with a CAGR of +23.6%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average acetic anhydride import price stood at $1,305 per ton in 2022, rising by 22% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2021 an increase of 31% against the previous year. Global import price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Italy ($1,645 per ton), while the United States ($1,073 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Acetic Anhydride

In 2022, global acetic anhydride exports surged to 346K tons, jumping by 37% on the previous year. Overall, exports, however, recorded a slight setback. The pace of growth appeared the most rapid in 2020 when exports increased by 42%. Over the period under review, the global exports hit record highs at 396K tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, acetic anhydride exports soared to $490M in 2022. In general, exports enjoyed a temperate expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports By Country

In 2022, Belgium (150K tons) was the largest exporter of acetic anhydride, making up 43% of total exports. The United States (70K tons) ranks second in terms of the total exports with a 20% share, followed by the Netherlands (12%) and India (9.2%). Saudi Arabia (16K tons), China (13K tons) and Singapore (7.3K tons) followed a long way behind the leaders.

Exports from Belgium decreased at an average annual rate of -1.1% from 2012 to 2022. At the same time, India (+23.7%), the Netherlands (+8.2%) and the United States (+4.3%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.7% from 2012-2022. Singapore experienced a relatively flat trend pattern. By contrast, China (-3.9%) and Saudi Arabia (-5.3%) illustrated a downward trend over the same period. While the share of the United States (+8.5 p.p.), India (+8.2 p.p.) and the Netherlands (+7.1 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Saudi Arabia (-2.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($230M) remains the largest acetic anhydride supplier worldwide, comprising 47% of global exports. The second position in the ranking was taken by the United States ($84M), with a 17% share of global exports. It was followed by the Netherlands, with a 13% share.

In Belgium, acetic anhydride exports expanded at an average annual rate of +3.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+5.5% per year) and the Netherlands (+12.0% per year).

Export Prices By Country

The average acetic anhydride export price stood at $1,415 per ton in 2022, increasing by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in the Netherlands ($1,548 per ton) and Belgium ($1,534 per ton), while China ($1,193 per ton) and the United States ($1,203 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform