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Carboxylic Acid Chlorides Market Growth Drivers, Developments, Technology And Future Trends 2027
Carboxylic Acid Chlorides Market
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.
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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.
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, 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.
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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.
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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.
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.
BASF SE
Shandong Jiahong Chemical Co., Ltd.
AIHENG INDUSTRY
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
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Carboxylic Acid Chlorides Market Demand Would Increase Rapidly
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.
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Key Drivers of Carboxylic Acid Chlorides Market
Growth in population is…
