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2-Furoyl Chloride Market size is forecasted to reach a value of US$130.6 million by 2027 after growing at a CAGR of 5.2% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, February 6, 2023 /EINPresswire.com/ -- 2-Furoyl Chloride Market size is forecasted to reach a value of US$130.6 million by the end of 2027 after growing at a CAGR of 5.2% during the forecast period 2022-2027. 2-Furoyl chloride is a furan acyl chloride that is typically produced in conjunction with polyethoxylated alcohol, thionyl chloride, along with materials to improve the intermediate strength. The 2-furoyl chloride is primarily utilized as a pharmaceutical intermediary in the production of mometasone furoate, an anti-inflammatory prodrug used to treat skin diseases, hay fever and asthma. The 2-Furoyl Chloride Market is majorly driven by the growth of the pharmaceutical sector. Additionally, the growing agrochemical industry is boosting the demand for pesticide intermediate, which is expected to fuel the demand for 2-furoyl chloride, thereby, propelling the 2-furoyl chloride industry growth during the projected forecast period.

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Key takeaways:

This IndustryARC report on the 2-Furoyl Chloride market highlights the following areas -

1. Asia-Pacific region dominated the 2-Furoyl Chloride Market, owing to the growing pharmaceuticals industry in the region. For instance, according to the General Statistics Office of Vietnam, in 2019 the total pharmaceuticals production in Vietnam was US$3255.6 million and in 2020 it was US$3484.5 million, an increase of about 7.03%.

2. The surging agriculture production is fueling the demand for pesticides, which is expected to propel the demand for 2-furoyl chloride. This in turn is benefiting the market growth.

3. Moreover, the growing research and developments associated with the chemicals industry is creating an opportunity for the growth of the 2-Furoyl Chloride Market growth during the projected forecast period.

4. However, the production-related constraints along with the hazardous nature of 2-furoyl chloride are restricting the growth of the 2-Furoyl Chloride Market.

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Segmental Analysis:

1. 2-Furoyl Chloride Market Segment Analysis – by Application : 2-furoyl chloride is used in pharmaceutical intermediates to strengthen the synthetics of the drugs. Furthermore, the 2-furoyl chloride pharmaceutical intermediates are employed in the manufacturing of allergic as well as non-allergies pharmaceuticals. The factors such as pollution, dust and unhealthy lifestyle are resulting in the surging cases of allergies across the world, which is resulting in the surging demand for allergy treatment medicines.

2. 2-Furoyl Chloride Market Segment Analysis – by End-Use Industry : The 2-furoyl chloride use in pharmaceutical intermediates ensures superior synthesis, owing to this its use is ideal in the pharmaceuticals industry. The surging demand for pharmaceutical products is fueling the growth of the pharmaceutical industry.

3. 2-Furoyl Chloride Market Segment Analysis – by Geography : The economic growth of the Asia-Pacific countries is expanding due to the growth of various industries such as pharmaceuticals, agrochemicals and other such sectors in the region. The growth of the pharmaceuticals sector in the Asia-Pacific region is attributed to various factors such as surging production, new facility developments and government initiatives related to the pharmaceutical industry.

Competitive landscape:

The top 5 players in the 2-Furoyl Chloride industry are:

1. Seqens
2. Shree Ganesh Remedies
3. Anhui Wotu Chemical
4. Swadev Chemicals
5. Syntor Fine Chemicals Ltd.

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Related Reports:

A. Biopharmaceuticals Market
https://www.industryarc.com/Research/Global-2-Furoyl-Chloride-Market-Research-511820

B. Pesticide Intermediate Market
https://www.industryarc.com/Research/Pesticide-Intermediate-Market-Research-504662

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