Acetyls Market Opportunity and Forecast By End-use Industry 2016-2026
Acetyls or acyls are functional group organic compounds with the chemical formula CH3CO. The acetyl or acyl group contains a methyl group single-bonded to a carbonyl. The carbonyl center of an acyl compound has one non-bonded electron with which chemical bonds with alkyl groups are formed. Ethanoyl is the IUPAC name of acyl. Often known as the acetyl moiety, it is present in acetic acid, acetylcholine, acetyl-CoA, acetyl cysteine, acetaminophen and acetylsalicylic acid. Acetylation is the chemical process of introduction of an acetyl group into a molecule. Acyls are used in the modification of histones and proteins.
Acetyls Market: Drivers & Restraints
Acetic anhydride or acetyl chloride are used for the formation of acetyls. Acetylated organic compounds exhibit increased ability to cross the selectively permeable blood–brain barrier. Acetylation assists a particular drug to reach the brain more quickly, further enabling strong drug effects and increased effectiveness of the drug dose. Acetylation converts the natural painkiller morphine into its intense form of heroin. Acetylation of resveratrol is currently under study as a potential alternative as one of the first anti-radiation drugs for humans. The global acetyl market is anticipated to be driven by the increasing application in diverse end user industry and strong research advancements which is expected to open novel opportunities in several end user industries.
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Acetyls Market: Segmentation
The global acetyls market is classified on the basis of product type, end user industry and region.
Based on product type, the global acetyls market is segmented into the following:
- Acetic Acid
- Acetic Anhydride
- Vinyl Acetate
- Ethylene Acetate
- Other Acetyls
Based on end user industry, the global acetyls market is segmented into the following:
- Food & Beverages
- Oil & Gas
- Paints, Inks, Waxes & Coatings
- Other End User Industries
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Acetyls Market: Overview
The acetyl groups of acetic acid, vinyl acetate and acetic anhydride are used as intermediates in a wide range of applications such as solvents to adhesives and water-based paints to cellulose acetate. The other applications of acetyls include pain-relieving pharmaceuticals, modified starches, emulsifiers, liquid crystal polymers and dyestuffs. The global acetyl market is projected to register above average CAGR in terms of value during the forecast period from 2016-2026. The global acetyl market is expected to be dominated by acetic acid product segment.
Acetyls Market: Region wise Overview
Geographically, global Acetyls market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, Middle East and Africa (MEA).Owing to the presence of large number of chemical industries in APEJ and Western Europe, the regions are expected to collectively hold a large share in the global market in terms of value during the forecast period. Also, the presence of several universities collaborations coupled with opportunities in scientific research of acetyls in the North America and Europe is expected to have positive impact on the regional markets. China is a major producer and consumer of acetic acid, and its production capacity is forecast to increase significantly through 2026. China is also the major exporter of acetic acid worldwide. New capacity installations in the MEA countries is expected to propel acetyl market growth in the region.
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Acetyls Market: Key Players
The key players in global acetyls market are BP p.l.c., Celanese Corporation, The Dow Chemical Company, Eastman Chemical Company, Wacker Chemie AG, LyondellBasell Industries Holdings B.V. to name a few.