Global Acid Chlorides Market Set for Remarkable Growth, Expected to Reach US$ 3,903 Million by 2032, Reports Future Market Insights

Acid chlorides, also known as acyl chlorides, are highly reactive organic compounds containing a carbonyl group (C=O) bonded to a chlorine atom. They are valuable in organic synthesis, often serving as key intermediates to create a wide range of organic compounds, such as esters, amides, and anhydrides. Their reactivity stems from the electron-withdrawing nature of chlorine, making them essential tools in chemical transformations.

According to Future Market Insights, the Global Acid Chlorides Market is expected to grow from US$ 2,430.9 Million in 2022 to US$ 3,903 Million by 2032, with overall demand accelerating at 4.9% CAGR throughout the forecast period (2022 to 2032).

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The rising application of acid chlorides in pharmaceuticals, chemical reagents, plastic & pigments, organic peroxides, and agrochemicals is a key factor driving the global market and the trend is expected to continue during the forecast period.

Since cardiovascular diseases like atherosclerosis are becoming more common, the demand for pharmaceuticals like aspirin continues to climb. According to data from the National Center for Biotechnology Information (NCBI) published in 2021, more than 30% of Americans used aspirin in 2019.

Furthermore, it is projected that sustained pharmaceutical demand will drive market revenue growth over the next few years. Apart from pharmaceutical applications, demand for acid chlorides is also witnessing substantial growth opportunities in the agrochemical sector.

Consistent population growth is propelling sales of agrochemicals to increase crop yields to meet the growing food demand. Being key active ingredients, various acid chlorides are experiencing elevated demand levels from the agrochemical sector. On the other hand, various health hazards associated with exposure to a wide spectrum of acid chlorides and the regulations associated with them are limiting market expansion

"Growing prevalence of heart diseases and increasing demand for pharmaceuticals like aspirin are anticipated to propel the sales of acid chlorides over the forecast period," says an FMI analyst.

Key Takeaways:

- The global acid chlorides market is expected to attain a value of over US$ 3,903.5 Mn by the end of the forecast period, growing at a CAGR of 4.9% over the forecast period.
- By product type, the benzoyl chloride segment holds the largest share of the global acid chloride market.
- Based on end-use, the pharmaceuticals segment will grow at a higher CAGR over the next ten years.
- The U.S. will continue to remain the most prominent acid chlorides market during the forecast period.
- Demand for acid chlorides across China is poised to increase at a steady pace during the forecast period.

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Who is Winning?

According to FMI analysis, Altivia, BASF, Novaphene, CABB Chemicals, Orion Chem Pvt. Ltd., Wilmar International, Transpek Industry Ltd., VanDeMark Chemical, Inc., Kuhlmann Europe, R. Drugs and Intermediates Pvt. Ltd., Twin Lake Chemical Inc., Shiva Pharmachem Ltd., Rheinmetall AG, and others are identified as the key manufacturers in the Acid Chlorides market.

These key players are constantly focusing on increasing their production capacities to meet end-user demands. They are establishing new production facilities if upgrading older ones, besides forming partnerships and alliances with other companies.

Acid Chlorides Industry Segmentation

By Product Type:

Ethanoyl Chloride
Propanoyl Chloride
Butanoyl Chloride
Benzoyl Chloride
Chloroacetyl Chloride
Thionyl Chloride
Palmitoyl Chloride
Others

By Application:

Chemical Reagents
Plastic and Pigments
Organic peroxides
Agrochemicals
Pharmaceuticals
Others

By End Use:

Pharmaceuticals
Agriculture
Plastics
Dyes & Inks
Cosmetic
Others

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.