APAC Region to Dominate Global Chloroacetyl Chloride Market

(Newswire.net — June 21, 2017) New York City, New York — According to the report by Persistence Market Research (PMR), global chloroacetyl chloride market was anticipated to be valued at $403.1 million by the end of 2016 in terms of global sales. Moreover, Asia Pacific was projected to have 39.5% market value share in global chloroacetyl chloride market by the end of 2016. However, the region is estimated to remain dominant during 2016-2024.

Rise in use of chloroacetyl chloride in the production of active pharmaceutical ingredients to boost the demand for chloroacetyl chloride market

Use of chloroacetyl chloride as an acylating agent in various reactions and for the production of active pharmaceutical ingredients is projected to increase. This will drive the growth of chloroacetyl chloride market.

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Shortage of agricultural workers and arable land is anticipated to increase the dependency on chemical fertilizers to upsurge the crop production and meet the ever-growing demand for food. Hence, growing demand for herbicides for better crop productivity will increase the demand for chloroacetyl chloride during 2016-2024.

However, the rise in substitutes of chloroacetyl chloride in active pharmaceutical ingredients and in herbicides can restrict the growth of global chloroacetyl chloride market.

The chloroacetyl chloride market in terms of the manufacturing process is segmented into 1-dichloroethylene, oxidation of 1, chlorination of acetyl chloride and others. On basis of development of new processes, the others segment is set to witness a major growth during 2016-2024. The share of the others segment will also expand owing to the reaction of chloroacetic acid with chlorinating agents.

In terms of application, chloroacetyl chloride market is divided into active pharmaceutical ingredients, chemical production and herbicides. Among all these, the herbicides segment is projected to have a steady growth due to ban on the use of butachlor and alachlor herbicides made from chloroacetyl chloride in Europe and other countries. While the use of chloroacetyl chloride as an intermediate in other herbicides products is anticipated to rise 1.3X during 2016-2024.

The demand for active pharmaceutical ingredients with complex protein has increased due to the rise in life-threatening diseases. Hence, the use of chloroacetyl chloride in active pharmaceutical ingredients is anticipated to witness a growth throughout the forecast period. Moreover, the active pharmaceutical ingredients was anticipated to reach $154.6 million by 2016 end.

APAC region to witness the growth in chloroacetyl chloride market during the forecast period

Region-wise, APAC region was anticipated to reach $159.1 million by 2016 end in terms of sales of chloroacetyl chloride. However, the region is estimated to dominate the global chloroacetyl chloride market during 2016-2024.

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The report has been segmented into Latin America, North America, Europe, the Middle East & Africa and Asia Pacific. Among all these regions, Latin America is anticipated to have a significant growth during 2016-2024, owing to the increase in investment in production facilities in pharmaceuticals and agrochemicals. Moreover, the demand for chloroacetyl chloride as reaction intermediate is expected to rise in North America due to the rise in life-threatening diseases and increase in development of active pharmaceutical ingredients.

Some of the leading players profiled in the global chloroacetyl chloride market report are Daicel Corporation, CABB GmbH, Altivia Corporation, Transpek Industry Limited, Shiva Pharmachem Ltd. and Taixing Shenlong Chemical Co. Ltd. The top companies are also looking forward expanding in largely untapped market.