Veratrole Market: Introduction:
Veratrole is also known as 2-Dimethoxybenzol, O,O-Dimethyl catechol, 1,2-dimethoxy-benzene, catechol dimethyl ether and pyrocatechol dimethyl ether.It has a molecular formula of C8H10O2 and Chemical Abstracts Service (CAS) number is 91-16-7. Veratrole is an electron-rich molecule and thus readily undergoes electrophilic substitution in organic synthesis of aromatic compounds. Veratrole is an organic compound which is utilized in organic synthesis of aromatic compound. It is employed in organic synthesis of pharmacophores of salmeterol and roflumilast as dual β2-adrenoreceptor agonists-PDE4 inhibitors. It is also used in the synthesis of arizonins B1 and C1. ,
Veratrole has broad spectrum of applications as active ingredients in agrochemical and pharmaceutical industry and food additives. The growing demand of pharmaceuticals due to rising prevalence of life style diseases which has resulted into augmented demand of drugs is driving the demand of veratrole across the globe. Moreover, the improvement in the lifestyle mainly in emerging economies has resulted into upsurge in demand of food additives. This, in turn is anticipated to fuel the demand of veratrole across the globe.
Global Veratrole Market: Segmentation
The global veratrole market can be segmented based on grade, application, and region. In terms of grade, the global market can be bifurcated into ≥ 99% purity, ≥97% purity and others including less than 97% purity grade.
Based on application, the veratrole market can be segregated into pharmaceutical intermediates, agrochemicals, food additive, and others such as the personal care products, etc. The pharmaceutical application segment is estimated to hold key share in global veratrole market. The wide range of applications of veratrole in synthesis of numerous chemicals coupled with significant rise in demand of pharmaceutical products across the globe is driving the demand of veratrole. The agrochemical application is anticipated to expand at considerable CAGR due to increased usage of agro-products owing to increasing need of food security with the diminishing arable land day by day. Moreover, the investments in research and developments aimed at innovations in agrochemicals and rise in acceptance of advanced products in developing countries such as China and India are augmenting the demand for agrochemicals especially for fruits & vegetables and cereals & grains crops. This in turn, is anticipated to fuel the demand fo veratrole in agrochemical during the forecast period.
Global Veratrole Market: Regional Outlook
In terms of region, the global Veratrole market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global veratrole market is estimated to expand at a significant pace in Asia Pacific due to rising in demand for pharmaceutical products from emerging economies such as China and India. Rise in awareness about health and improvement in per capita income are propelling the pharmaceutical industry in these countries. Furthermore, augmented demand of agrochemicals driven by the increasing demand of food that led to efficient agrochemicals to enhance the crop yield are anticipated to positively impact the demand of veratrole market in Asia Pacific region. The North America and Europe veratrole market is estimated to hold considerable market share in global markets owing to the established pharmaceutical and chemical industry in the region. The veratrole market in Latin America and Middle East & Africa is anticipated to expand at a sluggish pace during the forecast period.
Global Veratrole Market: Competitive Landscape
The global veratrole market is fragmented due to the presence of many local and global players. The unorganized players of veratrole holds considerable market across the globe. Key manufacturers operating in the global veratrole market include Solvay, Hangzhou Dayangchem Co.Ltd, Hangzhou Meite Industry Co.,Limited, Nanjing Tangtang Chemical Co., Ltd., CAMLIN FINE SCIENCES LIMITED, SIMAGCHEM and Toronto Research Chemicals.
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