Increasing Use of Chloroacetyl Chloride as Raw Material in Herbicide Production Worldwide: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, May 27, 2024 /EINPresswire.com/ -- According to new research published by Fact.MR, valuation of the global chloroacetyl chloride market (氯乙酰氯市场) is expected to reach US$ 512.7 million and further climb to US$ 909.5 million by the end of 2034. Growing popularity of chloroacetyl chloride as a raw material in the chemical and pharmaceutical industries is one of the main reasons driving market growth.

Herbicides intended for agricultural use are mostly made using chloroacetyl chloride. The synthesis of well-known herbicides such as butachlor and alachlor, in particular, uses chloroacetyl chloride. Butachlor and alachlor are herbicides that are known to harm the environment. Therefore, the European Union has banned their production and usage. Since these herbicides are still in use in many countries in Asia Pacific and Latin America, there is still a steady demand for them.

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Chloroacetyl chloride is a key compound in cellulose-derived product manufacturing. By reacting with cellulose, it forms highly substituted derivatives used in various applications like films, water-resistant coatings for medications, and photo-bactericidal plastic films. With increasing demand for cellulose-based goods, the chloroacetyl chloride market is projected to expand at a steady pace, offering growth opportunities for producers and suppliers.

Key Takeaways from Market Study:

The global chloroacetyl chloride market (クロロアセチルクロリド市場) is projected to expand at 5.9% CAGR from 2024 to 2034.East Asia is expected to hold 23.8% of the global market share in 2024.

The North American market is forecasted to reach a valuation of US$ 149.2 million by the end of 2034, up from US$ 70.2 million in 2024. In 2024, the United States is set to hold 79.6% market share in the North American region.

Under application, demand for chloroacetyl chloride for the synthesis of active pharmaceutical ingredients is projected to reach a market value of US$ 412.3 million by the end of 2034. The market in South Korea is forecasted to expand at 10% CAGR through 2034.

“Since chloroacetyl chloride is used to make fungicides, insecticides, and herbicides, its demand in the agrochemical industry is rising. Increasing funding for chloroacetyl chloride production, particularly in the United States, is also contributing to market expansion,” says a Fact.MR analyst

Some of the leading providers of chloroacetyl chloride market are CABB; Shiva Pharmachem Ltd.; Daicel Corporation; Transpek Industry Limited; ALTIVIA Petrochemicals Corporation; Triveni Chemicals; YiDu Jovian Industry Co., Ltd.; Taixing Shenlong Chemical Co., Ltd.; Strategic Recommendations; Chengwu Chenhui Environmental Protection Technology Co., Ltd.; Zouping Qili Additives Co. Ltd.

Country-wise Insights:

East Asia is predicted to account for 25.9% of the global chloroacetyl chloride market share by 2034, up from its predicted 23.8% share in 2024. East Asia is expected to see a 7.8% compound annual growth rate (CAGR) in chloroacetyl chloride sales between 2024 and 2034.

What role does the Chinese chemical industry play in the expansion of the market?

By 2034, China is expected to control a sizable portion of the East Asian market. Of the major nations, China is at the forefront of the chemical industry. Due to its high output, China becomes a desirable location for suppliers from around the globe to set up manufacturing facilities. Additionally, the nation's abundance of resources and affordable production are giving businesses greater chances to grow and succeed.

Which Market Trends Are US Suppliers of Chloroacetyl Chloride Leveraging?

"Increasing Investment and Financial Institution Funding for the Production of Chloroacetyl Chloride"

By 2024, the United States is expected to hold a sizable market share of 79.6% in North America. Growing funding from investors and financial institutions for the production of chloroacetyl chloride for use in the pharmaceutical business is the main driver of the nation's market expansion. The pharmaceutical sector in the United States is well-known, and many medications used to treat life-threatening conditions including croup and cardiac arrest include chloroacetyl chloride.

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Growing Need for Artificial Adrenalin Hormones:

Chloroacetyl chloride market expansion is being aided by an increase in the production of adrenaline, which is used in medicine to treat life-threatening conditions including croup, cardiac arrest, and anaphylaxis. The body might occasionally become incapable of producing adrenalin chemicals. Patients in these situations are given artificially produced adrenalin hormone, which is produced by the reaction of catechol and chloroacetyl chloride. This suggests that the growing need for chemically manufactured adrenalin hormones is driving the rise in sales of chloroacetyl chloride.

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