28-Dec-2020 | Facts and Factors
Findings from Facts and Factors report “Acetyl Market By Product Type (Acetic Anhydride, Ethylene Acetate, Acetic Acid, Vinyl Acetate, and Others), By Industry Vertical (Food & Beverages, Paints & Coatings, Pharmaceutical, Oil & Gas, Furniture, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global acetyl market in 2019 was approximately USD 28 million. The market is expected to grow at a CAGR of 6% and is anticipated to reach around USD 43 million by 2026.
The Global Acetyl Market Is Driven by Rapid Growth in the Pharmaceutical and Healthcare Industry and Rising Consumer Healthcare Spending
The acetyl group comprises different organic compounds like acetic acid, acetaminophen, acetylcysteine, acetyl-CoA, acetylcholine, acetylsalicylic acid, etc. Acetic acid also referred to as ethanoic acid, is an important carboxylic acid. Acetaminophen is also called paracetamol and is widely used for treating fever and pain. Acetylcysteine, also called N-acetylcysteine, is used for treating paracetamol overdose, also for thinning of mucus in the airways created by lung diseases such as pneumonia, cystic fibrosis, bronchitis, etc. Acetylcholine is a neurotransmitter and plays important role in the normal function of the body and brain. Acetyl-CoA mainly participates in biochemical reactions carbohydrate, lipid metabolism, and protein. One of the main functions of the acetyl-CoA is to deliver the acetyl group to the Krebs cycle which is oxidized for energy generation. Compounds belonging to the acetyl group have a single-bonded methyl group which is bonded to a carbonyl. The addition of the acetyl group to a molecule is referred to as acetylation. Acetylation is achieved by various methods, one of the widely used methods is by using acetyl chloride or acetic anhydride in presence of an aromatic amine base. Acetylated molecules have the ability to cross the permeable blood-brain barrier. Acetylation helps a drug in reaching the brain faster and makes the effect of the drug more intense. Also, acetylation helps in enhancing the effectiveness of a dose given. Acetyls are also used for the modification of proteins and histones.
Browse the full “Acetyl Market By Product Type (Acetic Anhydride, Ethylene Acetate, Acetic Acid, Vinyl Acetate, and Others), By Industry Vertical (Food & Beverages, Paints & Coatings, Pharmaceutical, Oil & Gas, Furniture, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/acetyl-market
Top Market Players
Some of the essential players operating in the acetyl market, but not restricted to include Eastman Chemical Company, BP, The Dow Chemical Company, S.R. Drugs and Intermediates Pvt. Ltd., Daicel, Celanese Corporation, Quzhou Weirong Pharmaceutical & Chemical Co., Ltd., Fubore, Chiping Huahao Chemical, LyondellBasell Industries Holdings B.V., Wacker Chemie AG, among others.
Compounds belonging to the acetyl group play a vital role in the medicines sector. The global acetyl market is primarily driven by the applicability of acetyl compounds in the pharmaceutical and medical industry. The growth of the pharmaceutical industry has been crucial for driving the global acetyl market. The total pharmaceutical revenues worldwide have surpassed one trillion US dollars. North America accounted for the largest market share in the global pharmaceutical sector, owing to the key role of the pharmaceutical sector of the United States of America. The global pharmaceutical market reached a value of approximately USD 1.2 trillion in 2018. There has been a significant rise in the global market since 2001. Further, emerging economies comprise a large number of low- and middle-income families, which have played a key role in driving the pharmaceutical sector in such countries. Such growth in the pharmaceutical industry has driven the consumption of medicines such as paracetamol, aspirin, etc. Food and Drug Administration (FDA) approved compound acetyl tributyl citrate (ATBC) is also being used in the pharmaceutical coating of coated capsules or tablets. Also, acetyl bromide is also used in the synthesis of intermediates which are used in the production of active pharmaceutical ingredients (API’s). With the growth of the pharmaceutical industry, the use of acetyl for various applications is poised to increase. This has been driving the global acetyl market. Moreover, acetic acid is also used in the food and beverage industry for the production of fermented foods and beverage products like vinegar, lambic beer, etc. It is also used for increasing the acidity of food products and giving an acidic flavor to the product. The use of acetyl compounds in the processing of food and beverage products has fueled the demand for acetyl.
Based on region, the Asia Pacific dominated the global acetyl market in 2019, accounting for a market share of 40%, mainly due to growth rapid growth of the pharmaceutical and healthcare industries in China, India, Japan, etc. The Asia Pacific region is expected to record the highest growth over the projected period, owing to growth in the food and beverage and pharmaceutical sector in the region.
The taxonomy of the acetyl Market by its scope and segmentation is as follows:
Global Acetyl Market: Product Type Analysis
Global Acetyl Market: Industry Vertical Analysis
Global Acetyl Market: Regional Segmentation Analysis
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