COVID-19 Impact on Palmitoyl Chloride Market
- The COVID-19 outbreak is hampering the demand for palmitoyl chloride in many applications. Governments of various countries across the globe enforced lockdown measures to curb the spread of the coronavirus. This resulted in a slowdown and even a halt in operations, thus hampering the demand for palmitoyl chloride.
- Key players operating in the palmitoyl chloride market are primarily tier I and tier II manufacturers and suppliers. Supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain.
- The COVID-19 outbreak has directly affected the production and demand for palmitoyl chloride. The industrial shutdown caused by the COVID 19 pandemic has created disruption in the supply chain. Disruption in supply of raw materials is projected to hamper full-scale operations of companies operating in the market.
Key Drivers of Palmitoyl Chloride Market
- Pharmaceutical is the fastest growing industry and drives the consumption of palmitoyl chloride. Pharmaceutical is considered to be the largest consumer of palmitoyl chloride. Consumer demand for pharmaceuticals is increasing rapidly. This is expected to boost the market in the near future.
- Palmitoyl chloride is used in the production of cosmetic and pesticides products. Consumers are regularly demanding for better options in cosmetic and pesticide categories. Demand for palmitoyl chloride-based products in in cosmetics and pesticides is likely to boost the global palmitoyl chloride market in the near future.
Restraints of Palmitoyl Chloride Market
- Palmitoyl chloride is moisture sensitive, desiccates at room temperature, and is stored under inert gas. It is incompatible with oxidizing agents, bases, and alcohols. This is likely to restrain the palmitoyl chloride market in the near future.
Asia Pacific to Constitute Significant Share of Global Palmitoyl Chloride Market
- In terms of region, the global palmitoyl chloride market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific dominated the global palmitoyl chloride market in 2020. Asia Pacific is the largest market for palmitoyl chloride due to substantial investment in China, Japan, and India for continual improvements in pharmaceuticals and chemical industries. The palmitoyl chloride market in the region is expected to expand at a rapid pace throughout the forecast period.
- North America and Europe are also the key consumers of palmitoyl chloride products. The palmitoyl chloride market in North America and Europe is expected to expand at a significant pace in the near future, owing to the increase in the number of manufacturers in these regions.
Competitive Landscape of Global Palmitoyl Chloride Market
Major players operating in the global palmitoyl chloride market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:
- Santa Cruz Biotechnology
- SHUBH Industries
- Rajvi Enterprise
- PMC Isochem
- Shiva Pharmachem
Global Palmitoyl Chloride Market
Global Palmitoyl Chloride Market, by Purity Type
- 92% Purity
- 97% Purity
- 98% Purity
Global Palmitoyl Chloride Market, by Application
- Pesticide Intermediates
Global Palmitoyl Chloride Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Palmitoyl Chloride Market: Introduction
- Palmitoyl chloride has strong odor. It is a colorless chemical liquid. Palmitoyl chloride is also known as palmitic acid chloride and hexadecanoyl chloride. It is used as a polymeric carrier for plasmid DNA delivery to organic chemical cells in order to prepare antibiotics such as chloramphenicol hexadecane carbonate.
- Palmitoyl chloride is used as an intermediate in pesticides and cosmetics industries