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The growing demand for esters in various end-use industries is anticipated to fuel the growth of the acid chlorides market

VANCOUVER, BRITISH COLUMBIA, CANADA, April 19, 2023 /EINPresswire.com/ -- The global acid chlorides market size was USD 24.40 Billion in 2021 and is expected to register a revenue CAGR of 15.7% during the forecast period. Rising demand for aspirin due to increasing prevalence of atherosclerosis and other cardiovascular diseases and steady use of acid chlorides in the pharmaceutical industry are major factors driving market revenue growth. In addition, rising usage of acid chloride-based active ingredients for agrochemical production and increasing adoption of benozyl chloride for production of perfumes and artificial tannins are some other factors expected to significantly contribute to market revenue growth.

Acid chlorides are organic compounds characterized by a functional group containing a chlorine atom bonded to a carbonyl group. They are highly reactive and are used as intermediates in various chemical reactions, such as acylation, esterification, and amidation. Acid chlorides are typically synthesized by reacting carboxylic acids with thionyl chloride or phosphorus pentachloride, among other methods. Some common types of acid chlorides include acetyl chloride, benzoyl chloride, and oxalyl chloride, among others.

High competition among vendors is likely to lead to price wars, which may act as a restraint on market growth. The increasing demand for bio-based products is expected to create new opportunities for growth in the acid chlorides market. The growing demand for eco-friendly esters used in various end-use industries, such as automotive and construction, is likely to further drive market growth.

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Acid Chlorides market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others.

Leading companies profiled in the report are:

BASF, Novaphene, CABB Chemicals, Orion Chem Pvt. Ltd., Wilmar International, Transpek Industry Ltd., VanDeMark Chemical, Inc., Kuhlmann Europe, R. Drugs and Intermediates Pvt. Ltd.

Key Highlights presented in the report:

The major market players operating in the global Acid Chlorides market include Royal Dutch Shell Plc, BP plc, Chevron Corporation, ExxonMobil Corporation, LyondellBasell Industries N.V., Cepsa Quimica S.A., Sasol Ltd., INEOS Group Limited, Dow Chemicals Inc., Reliance Industries Ltd., and Qatar Chemical Company Ltd.

The major strategies undertaken by these key players include product launches, expansions & investments, partnerships & collaborations, and mergers & acquisitions. For instance, in April 2020, BP Plc announced that it was investing £12 billion in the North Sea to develop new fields and extend existing ones. This will help supply energy for up to 20 years and create nearly 6,000 jobs globally.

In 2022, Clariant AG launched a new product called ALDOCHLOR C-50 that is used as an intermediate and reagent in organic synthesis. This product launch helped the company to expand its portfolio of products in the acid chlorides market.

Moreover, companies are also focusing on expanding their production capacity in order to meet increasing consumer demand for acid chlorides. For instance, in 2020, Merck KGaA opened a synthesis lab for acid chlorides in Darmstadt, Germany. This move helped the company to increase its production capacity and strengthen its presence in the market.

Furthermore, companies are also entering into strategic partnerships and collaborations with other players in the market to gain competitive edge and expand their product portfolio. For example, in 2020, Dow Inc. partnered with Avantium Technologies BV to produce polyethylene furanoate (PEF) resins using acid chlorides as one of the key raw materials. This partnership enabled Dow Inc. to expand its presence in the acid chloride market and enhance its product portfolio.

Furthermore, companies such as Royal Dutch Shell Plc and BP plc have made investments to expand their operations in Asia Pacific, which is expected to create new opportunities for the global Acid Chlorides market in the coming years.

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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Acid Chlorides market expected to boost the growth of the industry in the coming years.

Market Segmentation by product type:

Product Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Ethanoyl Chloride

Propanoyl Chloride

Butanoyl Chloride

Benzoyl Chloride

Chloroacteyl Chloride

2-Ethylhexanoyl Chloride

Palmitoyl Chloride

Others

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Chemical Reagents

Plastics and Pigments

Organic Peroxides

Agrochemical Production

Pharmaceutical Production

Others

End-Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019-2030)
Pharmaceutical Industry

Agricultural Industry

Plastics Industry

Dyes and Inks Industry

Cosmetic Industry

Others

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Major Regions Covered in the Acid Chlorides Market Report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

The global acid chlorides market report provides valuable insights and comprehensive analysis of the market, which can offer several key benefits to buyers.

Some of the key benefits of buying the global acid chlorides market report include:

In-depth Market Analysis: The report offers a detailed and comprehensive analysis of the global acid chlorides market, including market size, trends, growth drivers, challenges, and opportunities. It provides a thorough understanding of the current market scenario and future prospects, helping buyers make informed decisions about their investments in the acid chlorides market.

Market Segmentation and Regional Analysis: The report provides detailed segmentation of the acid chlorides market based on product type, application, end-use industry, and geography. It offers insights into the market share, growth rate, and revenue contribution of each segment, helping buyers identify lucrative opportunities and target specific market segments. The regional analysis provides a deep understanding of the market dynamics and growth prospects in different regions, aiding buyers in formulating regional market strategies.

Competitive Landscape and Company Profiles: The report includes a comprehensive analysis of the competitive landscape of the global acid chlorides market, with profiles of key players. It provides valuable information about their product portfolio, market presence, financial performance, strategic initiatives, and SWOT analysis. This can help buyers assess the competitive intensity in the market and make informed decisions regarding partnerships, collaborations, and investments.

Market Trends and Growth Drivers: The report identifies and analyzes the key trends and growth drivers shaping the acid chlorides market. It provides insights into the factors driving market growth, such as increasing demand for specialty chemicals, growth in the pharmaceutical and agrochemical industries, and emerging applications in advanced materials and bio-based chemicals. Buyers can leverage this information to capitalize on market opportunities and stay ahead of the competition.

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