Acetyls or acyls is a functional group with chemical formula CH3CO and key base chemical in the production of polymers. It has wide range of applications in several industries, whether as perfect solvents, components of dialysis substrates-acetyls, or as chemical intermediates.
Acetic anhydride is used for the formulation of acetyls. Acetylation helps a drug to reach brain more quickly, increasing effectiveness of the drug. Acetylated molecules exhibits an increased ability to convert natural painkiller morphine in an intense form of heroin in order to relieve pain.
- The market for acetyls is expected to exhibit growth owing to rising application of acetyl in various end-use industry applications such as pharmaceutical, furniture, and oil & gas coupled with strong research & developments in the these industries. Furthermore, acetyls find application as water-based paints, cellulose acetate, liquid crystal polymers, emulsifiers, and solvents to adhesives in several industries.
- Declining demand from solvent-based adhesives is projected to hinder growth of acetyl industry in the near future. However, growth of end-use industries is expected to be a major driver aiding in growth of the industry. According to India Brand Equity Foundation (IBEF), Indian pharmaceutical industry was valued at US$ 33 billion in 2017 and is estimated to reach 55 billion by the end of 2020, recording a CAGR of 22.4% during 2015 to 2020.
- Acetyl is required in wide range of applications in the pharmaceutical industry which includes manufacturing of paracetamols, relievers, and painkillers. The growth of pharmaceutical industry is expected to be a major driver for augmenting demand for acetyl in the forecast period.
- According to the International Federation of Pharmaceutical Manufacturers & Association, the research-based pharmaceutical industry invested over US$ 149.8 billion worldwide on pharmaceutical R&D in 2015 up from about 130.0 billion in 2010. Moreover, the global pharmaceutical industry is expected to reach US$ 1,430 billion by 2020.
- Among region, Europe and Asia Pacific accounted for significant share in the global market, owing to presence of large number of manufacturers in these regions. Moreover, increasing demand for acetyls from various end-use industries such as adhesives and automobiles along with expansion of these industries in Asia Pacific is expected to aid in growth of acetyls market in the region.
- According to International Organization of Motor Vehicle Manufacturers, the global production of commercial vehicles and cars was 94.97 million units in 2016 and reached 95.63 million units in 2018. This scenario is to positively impacting demand for acetyls in the forecast period.
Major companies operating in the global acetyls market include LyondellBasell Industries Holdings B.V., BP plc, Eastman Chemical Company, Celanese Corporation, Wacker Chemie AG, Daicel Corporation, and The Dow Chemical Company.
On the basis of product type, the global Acetyls market is segmented into:
- Acetic Acid
- Acetic Anhydride
- Vinyl Acetate
- Ethylene Acetate
- Others (Cellulose Acetate and Butyl Acetate)
On the basis of end-use industry, the global Acetyls market is segmented into:
- Food & Beverages
- Oil & Gas
- Paints, Inks & Waxes & Coatings
- Others (Building & Construction)
On the basis of region, the global Acetyls market is segmented into:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East
- Rest of Middle East
- Northern Africa
- Central Africa
- South Africa