Albany, NY -- (SBWIRE) -- 02/24/2020 -- Butyric Anhydride Market: Snapshot
Butyric anhydride is a major raw material used in the manufacture of cellulose acetate butyrate. It is also a raw material employed in the manufacture of cellulose ketobutyrate, and fragrance chemicals, pharmaceuticals, and agrochemicals. Butyric anhydride is also used as an acylating agent for dyes.
Key Drivers of Butyric Anhydride Market
Increase in demand for butyric anhydride in the food industry is expected to drive the butyric anhydride market in the near future
The food industry is anticipated to expand at a rapid pace during the forecast period owing to the increase in demand for juices, snacks, processed food, and ready-to-eat meals. Flavoring agents are used as food additives to enhance the taste and smell of food products such as bakery, snacks, dairy products, soups, sauces, and confectionary products. Demand for natural flavor and fragrance ingredients is estimated to increase at a rapid pace due to the growth in preference for organic ingredients in the food sector. Rise in popularity of authentic aromas in the food sector is estimated to drive the butyric anhydride market. Increase in usage of flavoring agents in numerous foods applications is also likely to boost the butyric anhydride market.
Flavoring agents are commonly used in snack foods, meats, seasonings, sauces, cheese, honey, and salt. Demand for flavoring agents has been rising in dessert, beverages, confectionery, and savory applications. Rise in demand for flavoring agents in the food sector is boosting the demand for butyric anhydride.
According to FONA International Inc., one of the leading manufacturers of flavoring agents for many of the largest food, beverage, and nutritional companies, more than 190 smoke-flavored products were introduced across the globe in 2016. This number is expected to reach double digit growth rate during the forecast period.
Key players that manufacture food flavors are also focusing on developing natural smoked flavors. This is projected to fuel the butyric anhydride market.
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Food Flavorings & Food Fragrances Application Segment Held Major Share in 2018
In terms of application, the food flavorings & food fragrances application segment is expected to hold major share of the global butyric anhydride market during the forecast period. Butyric anhydride is also employed in the synthesis of butyrate ester, which is used as perfume and flavor. Butyric anhydride is employed in the manufacture of amidoamine dendron-based co-adsorbents, which are used in improving efficiency of dye-sensitized solar cells (DSSCs).
Butyric anhydride acts as a fumigant to drive bees from their hives. It is also used in food additives, textile auxiliaries, plastics, plasticizers, surfactants, varnishes, perfumes, pharmaceuticals, and disinfectants. Furthermore, butyric anhydride is employed in the synthesis of butyrate ester, which is widely used in perfumes and flavors.
Asia Pacific Expected to Hold Large Share of Global Butyric Anhydride Market
In terms of region, the global butyric anhydride market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
North America is expected to hold key share of the global butyric anhydride market in 2018. The flavor & fragrance industry in the region is mature and quite stable. Increase in demand for low-fat and low-carbohydrate food in North America is expected to boost the demand for flavors in the food industry to enhance the taste of products. This, in turn, is anticipated to drive the butyric anhydride market in the region.
The U.S is the prominent consumer of butyric anhydride, followed by Canada, owing to the high consumption of convenience and processed food in the country
The market in Asia Pacific is estimated to expand at the rapid pace during the forecast period due to availability of raw materials and increase in demand for butyric anhydride in different applications. Demand for flavoring agents has been increasing in various applications in Asia Pacific owing to the growth in food processing, pharmaceuticals, dietary supplements, and nutraceutical industries.
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Key Players Operating in Market
The global butyric anhydride market is highly fragmented with the top manufacturers accounting for approximately 45% to 50% share. Key players operating in the butyric anhydride market include:
Celanese Corporation
Eastman Chemical Company
Central Drug House
TCI Chemicals (India) Pvt. Ltd.
Zhonggang Group