Diethyl Oxalate Market Size to Hit USD 891.93 Mn by 2027

Diethyl Oxalate Market to Grow at a CAGR of 7.0% by 2027. North America region is expected to grow at the highest CAGR.

NEW YORK, UNITED STATES, December 1, 2021 /EINPresswire.com/ -- According to our latest market study on "Global Diethyl Oxalate Market Forecast to 2027 – Covid-19 Impact and Global Analysis – by Application, End Use Industry, and Form" the market was valued at US$ 521.23 million in 2019 and is projected to reach US$ 891.93 million by 2027.

Strategic Insights

Market Size Value in - US$ 521.23 Million in 2019
Market Size Value by - US$ 891.93 Million by 2027
Growth rate - CAGR of 7.0% from 2020-2027
Forecast Period - 2020-2027
Base Year - 2020
No. of Pages - 134
No. Tables - 83
No. of Charts & Figures - 77
Historical data available - Yes
Segments covered - Application , End Use Industry , and Form
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Diethyl oxalate (C6H10O4) is also referred as oxalic acid diethyl ester, ethanedioic acid, diethyl ethanedioate, and others. It is a white solid compound synthesized from carbon monoxide and ethanol. It is slightly denser than water and is insoluble in water. Diethyl oxalate is available in the powder and liquid forms. It is a colorless, toxic compound with a characteristic odor. It has significant applications in various end-user industries such as pharmaceuticals, agriculture, and cosmetics. The compound is majorly utilized as a raw material or intermediate in the manufacturing of phenobarbital and numerous dyes; it is also used as a solvent for natural and synthetic resins as well as in nitrocellulose lacquers and various chemical synthesis processes. Further, it is used as a chemical intermediate in the synthesis of active pharmaceutical ingredients. Diethyl oxalate is also used as a cost-effective additive based in the dye-sensitized solar cells.

Utilization of Diethyl Oxalate in the Agrochemical Industry

Diethyl oxalate is utilized in the production of agrochemicals such as pesticides, fungicides, also herbicides. The growth of agricultural practices has led to the increase in agrochemicals production, and this fueled the expansion of the diethyl oxalate market. The explosive population growth demanding more food supply, increasing technological advancement in the agricultural industry, advances in plant breeding, limited availability of arable land, and management expertise across the world lead to increased use of agrochemicals. The rising adoption of intensive farming techniques to increase productivity per hectare is propelling the demand for pesticide manufacturing. Intensive farming techniques help to meet the growing demand for food from the rising population and prevent food shortages. The surge in the usage of fungicides, which are used to kill fungus spores and to improve the quality of crops, is also positively affecting the market expansion. Therefore, to supplying food to the growing population, farmers have to adopt various agrochemicals to increase production. This rise in the adoption of agrochemicals will leads to its tremendous production, subsequently augmenting the growth of the diethyl oxalate market.

Impact of COVID-19 on Diethyl Oxalate Market

The COVID-19 pandemic, which was first reported in Wuhan (China) in December 2019, has affected economies and industries due to imposed lockdowns and travel bans, and business shutdowns. Chemical and materials is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. This is further projected to impact the demand for diethyl oxalate products globally.

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Diethyl Oxalate Market: Application

The diethyl oxalate market, based on application, is segmented into perfumes and fragrances, manufacturing of dyestuffs, pharmaceutical intermediates, plasticizers, and others. The manufacturing of dyestuffs segment accounted for the largest share of the global diethyl oxalate market in 2019, and the pharmaceutical intermediate segment is expected to register the highest CAGR during the forecast period. Dyestuffs are known as inorganic or organic, water-soluble substances which reflect light. A dye is utilized as a coloring agent that changes the color of materials permanently. Dyestuffs are predominately employed for coloring fabrics. A few of the end-user industries that broadly use dyestuff are textile, leather, also paper. Moreover, in the chemicals industry, dyestuffs also play a vital role in maintaining chemical uniformity.

Diethyl Oxalate Market: Competitive Landscape and Key Developments

Borsodchem MCHZ, S.R.O., Nanjing Chengyi Chemical Co., Ltd., Indian Oxalate Limited, Shandong Liangzou Mining Industry Group, Merck KgaA, Mudanjiang Hongli Chemicals, Tokyo Chemical Industry Co., Ltd., UBE INDUSTRIES, LTD., Vertellus Holdings LLC, and Zibo Xusheng Chemical Co., Ltd are among the well-established players in the global diethyl oxalate market.

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