Alkoxide Market (Application: Agrochemicals, Building & Construction, Electrical & Electronics, Personal Care, Pharmaceutical, Surfactants, Hardeners, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
Press Release :
Decline in Demand and Investments in Coatings Affects Business during COVID-19 Era
Alkoxide bases have become customary in agrochemical, pharmaceutical, and coatings applications. However, end users in the paints & coatings industry are fighting against the COVID-19 (coronavirus) crisis. Factory closures and suspensions have caused a slowdown in the coatings industry, which is dependent on the alkoxide market. Ongoing projects and plans have been disrupted due to lockdown measures. Analysts at the Transparency Market Research (TMR) opine that automotive, being one of the key sector for coatings application, is expected to improve vehicle sales in the first quarter of 2021.
The COVID-19 outbreak has led to disruptions in supply chains pertaining to the alkoxide market. The automotive industry is witnessing a huge drop in demand and investments. In order to keep economies running, alkoxide manufacturers are diversifying their supply chains in regions where governments are relaxing trade restrictions.
Request a sample to get extensive insights into the Alkoxide Market
Innovations in Adhesives Benefit Customers Executing Challenging Construction Applications
The construction industry is dominated by various drivers including reducing energy consumption and rapid urbanization. In order to fulfill these demanding applications, manufacturers in the alkoxide market are increasing their production capabilities in sealants and adhesives used routinely in sanitary and construction purposes. For instance, Evonik— a German specialty chemicals company is using alkoxides to manufacture sealants and adhesives, where the former works as catalyst for the synthesis of products.
Smart adhesives are being extensively used to make building and construction applications more safe, reliable, and efficient amidst dynamic environmental challenges. Such innovative products are bolstering the growth of the alkoxide market, which is estimated to surpass the valuation of US$ 3.9 Bn by the end of 2030.
Appropriation of Benefits in Agrochemicals Help Manufacturers Scale New Products
The ever-expanding agrochemical industry is creating stable business avenues for companies in the alkoxide market. Agriculture holds prime importance in the socio-economic fabric of India, and accounts for a significant percentage of the nation’s Gross Domestic Product (GDP). However, the agriculture industry in India is challenged with low crop yields, owing to low quality seeds, crop protection measures, and degrading soil quality. Hence, manufacturers in the alkoxide market should increase their R&D to develop improved agrochemical formulations in order to boost the GDP of India.
Apart from improved agrochemical formulations, manufacturers need to overcome regulatory hurdles associated with registering new products. Patenting authorities typically take longer than expected to register new products, and this period of exclusivity can be used to appropriate the benefits of agrochemicals.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Alkoxides Aid in Production of Active Pharmaceutical Ingredients Used by U.S. Manufacturers
The alkoxide market is slated to clock a CAGR of ~6% during the forecast period, as manufacturers are entering into strategic distribution agreements to tap into incremental opportunities in the U.S. nutritional and pharmaceuticals segments. They are able to expand their sales and marketing coverage into the preclinical and early phase development processes. As such, alkoxides are being used to produce specialty raw materials, reagents, and ingredients that benefit end users in North America nutritional and pharmaceuticals segments.
High quality alkoxides are being employed to innovate in nutraceutical chemistries. Hence, manufacturers in the alkoxide market are increasing their production capacities to expand their life sciences portfolio. Alkoxides are gaining popularity as active pharmaceutical ingredients. The high prevalence of diabetes and cardiovascular diseases in individuals is acting as a key driver of the market.
Stuck in a neck-to-neck competition with other brands? Request a custom report on Alkoxide Market
Digitization has emerged as a new way of improving business performance and enable protection of employees during the ongoing COVID-19 crisis. Manufacturers in the alkoxide market are developing eco-friendly pest management products and herbicides to scale business opportunities. However, manufacturers are facing regulatory hurdles in India’s agriculture industry due to possibilities of generic competition in the production of off-patent active ingredients for agrochemicals. Hence, manufacturers must acquire a strong research base to innovate in agrochemicals that boost crop yields and contribute for the nation’s GDP. Strategic distribution agreements in the U.S. pharmaceutical and nutrition segments hold promising potentials for business growth, owing to innovations in active pharmaceutical ingredients.
Alkoxide Market: Overview
- An alkoxide is a popular reactant in preparation of wet gels, which can be utilized to form a variety of nonmetallic and metal compounds. Alkoxides are sensitive toward moisture. They decompose in the presence of traces of water in solvents or atmosphere. Alkoxide exhibits strong polar character. The characteristic of alkoxide is highly dependent on the metal and alcohol used in its manufacture. Physicochemical characteristics of alkoxide and its molecular complexity decide its properties.
- Alkoxide possesses many properties. For instance, it has the ability to decompose without melting on heating. Furthermore, it is non-volatile, insoluble in organic solvents, and can react with chemicals. These make it suitable for usage in a wide range of applications. Common applications of alkoxide include agrochemicals, building & construction, electronic & electrical, personal care, pharmaceuticals, surfactants, hardeners, and others.
- Alkoxide is used as reagent and catalyst in applications, including manufacture of pharmaceutical and agrochemicals. Increase in public and private investments in the healthcare sector is expected to drive the demand for pharmaceuticals in the near future. Governments of developing countries are also launching schemes to promote the consumption of pharmaceutical products. Furthermore, rise in FDI inflow in developing countries such as India is expected to drive the demand for medicines in the near future.
- Alkoxide is used in blending of active ingredients at the time of chemical reactions, including reduction, oxidation, condensation, and alkoxylation in pharmaceuticals. In agrochemicals, alkoxide serves as a strong base in the synthesis of agrochemical ingredients. Additionally, alkali metal alkoxide is used as a catalyst in transesterification and amidation reactions. Sodium methoxide, a potential alkoxide, is primarily used in the production of Vitamin A1, Vitamin B1, sulfadoxine, sulfadiazine, trimethoprim, etc. This is estimated to boost the production and consumption of pharmaceutical products in the near future. In turn, this is projected to drive the demand for alkoxide over the next few years.
Rise in Demand for Alkoxide in Pharmaceuticals
- In terms of application, pharmaceutical was the leading segment with more than 30% share of the global alkoxide market in 2019. The segment is projected to continue its dominance between 2020 and 2030. Alkoxide is used as reagent and catalyst in various applications, including pharmaceutical.
- Technological advancements and increase in research & development activities in the pharmaceutical sector are estimated to fuel the demand for alkoxide in the near future. Alkoxide is employed to blend active ingredients at the time of chemical reactions, including reduction, oxidation, condensation, and alkoxylation, in pharmaceutical applications. Thus, increase in demand for alkoxide in the pharmaceutical sector is expected to boost the alkoxide market during the forecast period.
- Increase in agricultural activities is also propelling the demand for pesticides, fertilizers, and insecticides across the globe. This is anticipated to augment the demand for alkoxide, which is used in the manufacture of agrochemicals. In turn, this is expected to drive the global alkoxide market during the forecast period.
Asia Pacific to Lead Alkoxide Market
- In terms of volume, Asia Pacific constituted prominent share of the global alkoxide market in 2019. The alkoxide market in the region is projected to continue to expand at a rapid pace during the forecast period. Asia Pacific held more than 40% share of the global alkoxide market in 2019.
- Demand for alkoxide is high in Asia Pacific, particularly in China, owing to increase in consumption of alkoxide products in pharmaceutical, agrochemical, and electronics & electrical applications in the country
- Alkoxide is also employed as an intermediate chemical in the manufacture of adhesives that are widely used in electronic & electrical, building & construction, and personal care sectors. Thus, rise in demand for adhesives is likely to propel the demand for alkoxide in Asia Pacific in the near future. Growth in research and development activities and rise in applications of alkoxide are projected to boost the demand for alkoxide in Asia Pacific during the forecast period.
- Increase in agricultural activities in the region, especially in India, is anticipated to propel the demand for fertilizers, pesticides, and insecticides. This, in turn, is estimated to drive the alkoxide market in the country.
- Expansion of the pharmaceutical industry in China is projected to drive the demand for alkoxide in the country, as alkoxide is used in the blending of active pharmaceutical ingredients during the preparation of drugs in the pharmaceutical sector
Alkoxide Market: Competition Landscape
- Manufacturers are continuously focusing on expanding their production capacities in order to meet the demand for alkoxide in various end-use industries in developed and developing countries
- Prominent players operating in the global alkoxide market are
- Evonik Industries AG,
- Albemarle Corporation,
- Sumitomo Chemical Co., Ltd.,
- Gelest Inc.,
- Chemtech Alkoxides Pvt Ltd,
- Catalytic Technologies Ltd.,
- Norquay Technology,
- Suparna Chemicals Limited,
- Ascensus Specialties LLC,
- Strem Chemicals Incorporated. Evonik Industries AG led the global alkoxide market in 2019. The company offers a wide range of alkoxide products for various applications such as pharmaceutical and agrochemicals. Furthermore, the company has strong distribution network around the globe.
Alkoxide Market – Scope of the Report
Transparency Market Research’s recent report on the global alkoxide market provides readers with an assessment of the landscape of the market with the help of a comprehensive outlook. This study on the global alkoxide market analyzes the market for the period from 2020 to 2030, wherein 2019 is the base year. The report enables readers to make important decisions regarding their business, with the help of a wealth of information enclosed in the study.
This TMR study on the global alkoxide market also provides data on developments made by important players and stakeholders in the market, along with competition analysis. The report also provides understanding of drivers, restraints, opportunities, and market trends.
Key Questions Answered in Alkoxide Market Report
- How much revenue is the global alkoxide market expected to generate by the end of the forecast period?
- Which region currently accounts for the maximum share of the alkoxide market?
- What are the factors anticipated to drive the global alkoxide market during the forecast period?
- Which region is likely to be highly lucrative for alkoxide during the forecast period?
- What are the essential strategies adopted by key stakeholders of the global alkoxide market to expand their geographical presence?
- What are major advancements in the global alkoxide market?
This report answers these questions about the global alkoxide market, aiding major stakeholders and key players in making correct decisions and strategizing for expansion of their business.
Alkoxide Market: Research Methodology
This TMR report on the global alkoxide market is based on a complete and comprehensive evaluation of the market, supported by secondary and primary sources. The competition scenario of the global alkoxide market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and current trends, researchers of the global alkoxide market arrived at predictions and estimations and calculated the market forecast.
This report uses an analytical triangulation method to estimate the global alkoxide market by using bottom-up and top-down approaches.
This detailed assessment of the global alkoxide market, along with an overview of the market, is provided on the basis of a careful examination of growth opportunities. Analysts’ conclusions on how the global alkoxide market is set to expand are based on carefully vetted primary and secondary sources.
Alkoxide Market – Segmentation
This report on the global alkoxide market segments the market based on application and region. This study also discusses the underlying trends and the impact of various factors that are driving the global alkoxide market, along with their influence on the growth of the market.This study also offers Porter’s Five Forces analysis and value chain analysis of the global alkoxide market in order to elaborate on crucial growth strategies of players operating in the regional market.