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Carboxylic Acid Chlorides Market

Carboxylic Acid Chlorides Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027

Carboxylic Acid Chlorides Market: Overview

  • Carboxylic acid chlorides or acyl chlorides are organic compounds with a chlorine atom bound to an acyl group. Carboxylic acid chlorides are also known as acid chlorides. Carboxylic acid chlorides are commonly used for conversion of carboxylic acid into acyl chloride and then into ethanoyl chloride. Carboxylic acid chlorides are highly reactive carboxylic acid derivatives.

Key Drivers of Carboxylic Acid Chlorides Market

  • Growth in population is expected to drive the consumption of agricultural commodities. Demand for cereals, vegetable oils, and sugarcane as raw materials for the production of biofuels is expected to rise in the near future. The agricultural sector is anticipated to expand in Sub-Saharan Africa, South and East Asia, as well as the Middle East, and North Africa. Rise in production is estimated to be achieved primarily through intensification and efficiency gains and partially through expansion of the production base via the conversion of pasture to cropland. China is the largest cereal producer in the world. It accounts for 20% of global output, followed by the U.S., India, and Russia. Thus, growth in agriculture and need for better quality of agricultural commodities are driving the demand for fertilizers. This, in turn, is projected to boost the carboxylic acid chlorides market.

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Key Segment of Carboxylic Acid Chlorides Market

  • Based on type, the global carboxylic acid chlorides market can be segmented into pivaloyl chloride, valeroyl chloride, terephthaloyl chloride, and isophthaloyl chloride. Pivaloyl chloride is majorly used in synthesis of organic peroxides, building block for pharmaceuticals & agrochemicals, reagent for protection of alcohols, preparation of t-Butyl ketones, and synthesis of mixed anhydrides.
  • Valeroyl chloride is widely used as an intermediate for pharmaceuticals, agrochemicals, surfactants, fragrances, and electronic chemicals. Terephthaloyl chloride, also known as 1,4-benzenedicarbonyl chloride, the acid chloride of terephthalic acid, is primarily used to make specialty polymers, primarily aromatic polyamides or aramids.

Europe Projected to Hold Large Share of Global Carboxylic Acid Chlorides Market

  • The pharmaceutical industry in Europe was valued at more than US$ 208.1 Mn in 2018, making Europe the second-largest pharmaceutical market in the world. Germany, France, Italy, the U.K., and Spain are the top five markets in the region. The pharmaceutical industry in Germany was valued at around US$ 54.5 Mn in 2018. Germany accounts for 24% share of the market in the region. Expansion in the pharmaceutical industry in Europe is anticipated to drive the carboxylic acid chlorides market.
  • Europe accounted for 22% share of global pharmaceutical sales from 2012 to 2017, and 18% of sales of new drugs were attributed to the market in Europe. The total volume of medicinal products consumed globally is estimated to rise by about 3% annually by 2021.
  • Governments  of countries in Asia Pacific such as China and India are providing subsidies in order to increase agriculture production. This is driving the carboxylic acid chlorides market in the region.
  • Europe is an important region of the global agricultural industry in terms of agricultural land and agricultural production. Grassland and cropland together make up 39% of Europe's land cover. Fertilizer is considered a macro-nutrient and is widely used in agricultural field. Expansion in the agrochemical industry is likely to propel the carboxylic acid chlorides market in Europe.
  • The agriculture industry in Asia Pacific is expanding due to the vast population in the region. Asia Pacific plays an important role in the global food chain, accounting for 19% of total global food and agriculture exports and 31% of total food and agriculture imports. Fertilizers are extensively employed in the region to increase yield and improve quality of crops. This is driving the demand for carboxylic acid chlorides.

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Key Players in Carboxylic Acid Chlorides Market

The global carboxylic acid chlorides market is highly fragmented, with the top manufacturers accounting for approximately 20% to 30% share. Key players operating in the carboxylic acid chlorides market include:

  • Lubon Industry Co.,Ltd.
  • Shandong Jiahong Chemical Co., Ltd.
  • Shandong Minji Chemical Co., Ltd.
  • Hebei Tianja Technology Co., Ltd.
  • Hebei Fude Chemical Technology Co.,Ltd.

Global Carboxylic Acid Chlorides Market: Research Scope

Global Carboxylic Acid Chlorides Market, by Type

  • Pivaloyl Chloride
  • Valeroyl Chloride
  • Terephthaloyl Chloride
  • Isophthaloyl Chloride

Global Carboxylic Acid Chlorides Market, by Application

  • Agricultural
  • Pharmaceuticals
  • Plastics & Rubber

Global Carboxylic Acid Chlorides Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Carboxylic Acid Chlorides Market

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