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CHLOROACETYL CHLORIDE MARKET ANALYSIS

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CHLOROACETYL CHLORIDE MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker     CHLOROACETYL CHLORIDE MARKET ANALYSIS    Chloroacetyl chloride is one of the most versatile compounds that is used as an             intermediate in the synthesis of many organic chemical compound. It has           chemical formula C2H2Cl2O and the major use of the chloroacetyl chloride is in           the preparation of herbicides and is also useful as a chemical building block.             The product is obtained by the process of chlorination of acetyl chloride in the             presence of stronger aliphatic acids. Moreover, this chemical is also used in the           preparation of various pharmaceutical formulation. Some of the major       herbicides that are manufactured         chloroacetyl chloride. Global chloroacetyl chloride market is estimated to reach       US$ 735.7 million in terms of revenue by the end of 2027, growing at a CAGR of               5.6% during the forecast period (2019-2027)                                                                                                              by   using   chloroacetyl   chloride   are                              

  2. Drivers:  Increasing usage of herbicides due to rising population base and decrease in             the arable land is predominantly fueling the market growth of Chloroacetyl           chloride. Also, shortage of labor has further increased the dependency on             herbicides which is again propelling the market growth. Moreover, rising usage           of herbicides such as acetochlor, butachlor, and alachlor for enhancing the           production yield of corn, soybean, and sorghum is also expected to foster the             market growth of chloroacetyl chloride over the forecast period.                                                                          Growing production of adrenaline for medical usage for treating a serious           condition such as anaphylaxis, cardiac arrest, and croup is expected to fuel the           market growth of the chloroacetyl chloride. Also, sometimes the body is unable           to produce adrenalin hormone, in this situation synthetically prepared adrenalin             hormone is supplied to the patient which is produced through the reaction of             catechol and chloroacetyl chloride. Hence, the rising demand for synthetically         prepared adrenalin hormone is projected to propel the market growth of         chloroacetyl chloride.                                                                                             Regionally, Asia-pacific dominated the global chloroacetyl chloride market in         2018, reporting 39.5% market share in terms of revenue, followed by Latin           America and North America, respectively                          Figure 1. Global Chloroacetyl Chloride Market, Revenue Share (%), By  Region, 2018     

  3. Market Restraints  Growing adoption of biodegradable herbicides in agrochemical industry is a         prime factor expected to hinder the market growth of chloroacetyl chloride.             Rising concern over environment sustainability due to growing cases of soil         erosion and water pollution which ultimately leads to the degradation of land           and water. Due to this various organization are is further anticipated to restrict             the usage of herbicide in the agrochemical industry, which in turn hampering             the market growth of chloroacetyl chloride.                                                                              Ban of pesticide in Europe due to rising concern over the environment is               expected to hinder the market growth of Chloroacetyl chloride. For instance, in             March 2019, the EU bans UK's most-used pesticide over health and             environmental concern. European Union will ban the most-commonly used       pesticides after safety officials reported human health and environmental         concerns. Hence, the ban of pesticide in Europe is expected to negatively affect               the market growth chloroacetyl chloride.                                                                      Market Opportunities  Rising demand for acids anhydrides that are mainly produced from chloroacetyl           chloride is projected to propel the market growth over the forecast period.             Acids Anhydrides are widely used in the preparation of pharmaceutical           formulation, industrial chemicals, and perfumes. Moreover, it is also used in the         manufacturing of aspirin and synthesis of heroin by diacetylation of morphine         reaction. Therefore, growing demand       aforementioned application is expected to propel the market growth.                                                                    from   for   Acids   Anhydrides     the Expanding chemical industry around the globe especially in Asia Pacific region         is projected to propel the market growth of chloroacetyl chloride. According to             The Economic Times, the India chemical industry is expected to grow at around           9% per annum to reach US$ 304 billion by FY25, from US$ 163 billion in FY18.                 The growth is likely to be driven by rising demand in end-use segments for                 specialty chemicals and petrochemicals intermediates. Hence, expanding       chemical industry is expected to foster the market growth over the forecast           period.                                                                                             

  4. Figure 2. Global Chloroacetyl Chloride – Market Opportunity Analysis    Key Takeaways  Increasing the expansion of the production facility of chloride by major players           to meet the rising demand across various end-use industries is expected to fuel             the market growth of chloroacetyl chloride. For instance, in January 2016, US           industrial chemicals manufacturer ALTIVIA has completed the construction of       facilities to produce choloroacetyl         manufacturing site. The La Porte site is a fully integrated phosgene derivative                 chemical production site.                                                            chloride   at   its   La   Porte,   Texas,       Expanding pharmaceutical industry due to high economic growth and increasing         government initiatives especially in the Asia Pacific region is expected to foster           the market growth of chloroacetyl chloride. According to the India Brand Equity           Foundation, India is the largest provider of generic drugs globally. Indian           pharmaceutical sector industry supplies over 50% of global demand for various       vaccines, 40% of generic demand in the U.S. and 25% of all medicine in U.K. The               pharmaceutical sector was valued at US$ 33 billion in 2017. The country’s           pharmaceutical industry is expected to reach US$ 55 billion, growing at a CAGR           of 22.4% over the forecast period (2015–2021)                                                                                                                      On the basis of application, in 2018, active pharmaceutical ingredient segment,               accounted the largest market share of 38.5% in terms of revenue, followed by             herbicides and chemical production, respectively.                         

  5. Figure 3. Global Chloroacetyl Chloride Market, Revenue Share (%), By  Application, in 2018    Competitive Section  Key companies active in the global chloroacetyl chloride market are Daicel             Corporation, ALTIVIA Petrochemicals     Pharmachem Ltd, Transpek Industry Limited, Triveni Chemicals, Taixing       Shenlong Chemical Co., Ltd, Chengwu Chenhui Environmental Protection         Technology Co., Ltd., Zouping Qili Additives Co.Ltd, and YiDu Jovian Industry           CO., Ltd.                      Corporation,         CABB,     Shiva                 1. Request Sample Report 2. Download PDF Brochure 3. Request Customization 4. Talk to Analyst Reference

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