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Trichloroacetyl Chloride Market Promising Growth Opportunities and Forecast 2021-2031
Transparency Market Research delivers key insights on the global trichloroacetyl chloride market. In terms of revenue, the global trichloroacetyl chloride market is estimated to expand at a CAGR of 4.6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global trichloroacetyl chloride market.
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The global trichloroacetyl chloride market is broadly affected by several factors, including rise in usage of trichloroacetyl chloride in the agriculture industry. Rise in demand for trichloroacetyl chloride in the pharmaceutical industry is also significantly propelling the global trichloroacetyl chloride market.
Trichloroacetyl Chloride Market: Dynamics
Trichloroacetyl chloride is an important intermediates in organic chemical synthesis due to ease of substitution of the Cl atoms. Nucleophilic substitution of the chlorine atom is an important reaction when the product is used as an intermediate in organic chemical synthesis.
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Major demand for trichloroacetyl chloride is for the production of chlorpyrifos. Chlorpyrifos is cheap and a broad-spectrum insecticide. Chlorpyrifos is extensively utilized in the agriculture industry to control different types of insects. Demand is expected to remain high during the forecast period.
Trichloroacetyl chloride is employed as organic chemical synthesis. Trichloroacetyl chloride is extensively used in trichloro acetylation reactions. Trichloroacetyl chloride is also utilized as dehydrating agent organic chemical reactions involving carboxamide or aldoximes to nitriles. Increase in focus on research & development in pharmaceutical and organic chemicals is expected to offer significant opportunities to the global trichloroacetyl chloride market.
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Chlorpyrifos is an organophosphate pesticide known for its damaging effects on the human nervous system. These neurological effects pose elevated risks for children, as their brains and nervous systems develop. Several countries worldwide have taken a decision to ban chlorpyrifos use in their countries.
The U.S., Canada, and the European Union have already announced their decision to ban chlorpyrifos. This is estimated to evidently lead to a decrease in the demand for trichloroacetyl chloride globally.
Trichloroacetyl Chloride Market: Prominent Regions
Based on region, the global trichloroacetyl chloride market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific accounted for a major share of the global trichloroacetyl chloride market in 2020. China held a significant share of the trichloroacetyl chloride market in Asia Pacific in 2020. The trend is likely to continue during the forecast period. However, the current environmental crackdown in China raises serious concerns about capacity and future additions.
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The usage of trichloroacetyl chloride in the manufacture of pharmaceutical chemical is anticipated to propel the demand for trichloroacetyl chloride in North America and Europe.
Trichloroacetyl Chloride market: Key Players
The global trichloroacetyl chloride market is fragmented with the presence of a large number of players. Major players operating in the global crichloroacetyl chloride market are Huaian Depon Chemical Co., Ltd., Hari Orgochem Pvt. Ltd (Chloritech Industries), Ningxia Root Biotech Co.,Ltd., TML Industries Ltd, Chengwu Chenhui Environmental Protection Technology Co., Ltd., Ningbo Inno Pharmchem, SRF Ltd., Meghmani Organics, S R Drugs and Intermediates, Swati Chlorides Private Limited, Zouping Lan Jia Chemical Co., Ltd., Hemani Intermediate, and Vortex Products Limited.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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