Acetyl Chloride Market Size, Share, Growth, and Industry Growth by Type (High Purity and Low Purity), By Application (Pharmaceutical Industry, Dye Industry, Liquid Crystal Material, and Others), Regional Forecast To 2031

Updated On: 01 April 2024

Acetyl Chloride Market REPORT OVERVIEW

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The global acetyl chloride market size was USD 73 million in 2021 and is projected to touch USD 135.37 million by 2031, exhibiting a CAGR of 6.3% during forecast period. 

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Acetyl chloride (CH3COCI) is an acyl chloride derived from acetic acid, abbreviated to AcCI. It is from a class of organic compounds called acyl halides. It is a colorless pale-yellow fuming liquid that has a pungent odor. It is a volatile and corrosive liquid in nature. It is used for acetylation reactions. It is used to derive alcohols and amines. It is a highly reactive substance that reacts with carboxylic acids, esters, and amides.   

The growing demand for acetyl chloride is due to its increasing demand from the chemical industry for preparing amides esters and of acetic acid. The demand for such chemicals is also from pharmaceuticals and agriculture industry as it is used to make pesticides. It is majorly used to produce herbicides and is one of the most building blocks of chemicals. The demand for this chemical also derives from the pharmaceutical industry as it is used to make pharmaceutical formulations.    

COVID-19 Impact: Halt on Chemical Industry to Obstruct Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the global acetyl chloride market was significantly influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. Demand for acetyl chloride derives from agrochemicals and pharmaceutical sectors and due to a halt on those sectors, it simultaneously affected the demand for chemical compounds. Operations in the chemical industry were halted due to the restriction from the government. Due to shortage of labor, operations were halted, which created gaps in demand and supply.  

LATEST TRENDS

"Growing Expansion of Production Facilities to Inflate Market Progress"

Expanding production facilities of acetyl chloride to meet the increasing demand and needs is estimated to expand the growth of the global acetyl chloride market. It is being increasingly used in various industries. Increasing demands from various end-use industries is anticipated to drive the market demand. Expanding pharmaceutical and chemical industries and growing government initiatives in various countries is expected to drive the market growth. Such increasing and new expansions are anticipated to drive the market and pose opportunities for the market.

Acetyl Chloride Market SEGMENTATION

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• By Type

Based on type; the market is divided into high purity and low purity.

• By Application

Based on application; the market is divided into agriculture industry, dye industry, liquid crystal material, pharmaceutical industry, and others.

Pharmaceutical industry is the leading part of the application segment.

DRIVING FACTORS

"Growing Demand for Agrochemicals to Boost Market Growth"

The global acetyl chloride market growth is anticipated to increase owing to increasing demand for agrochemicals. Rapid growth in population and decrease in the quality of natural arable land has created necessities to use chemical fertilizers, pesticides, and herbicides. They are used to increase crop production and meet the rising demand for the food products. Rising uses of herbicides such as alachlor, acetochlor, and butachlor to enhance crop production yield of crops such as corn, sorghum, and soybean. Shortage in manual labor is also anticipated to drive the demand for herbicides. Such demand for agrochemicals is anticipated to boost market growth.   

"Use of Product for Medical Purposes to Enlarge Market Performance"

Acetyl chloride is used for medical purposes. It is used in production of adrenaline for medical purposes such as cardiac arrest, croup, and anaphylaxis. It is used when a body is not able to produce enough adrenaline hormone, in that condition synthetically produced adrenaline is supplied to the patient which is produced by the reaction of chloroacetyl chloride and catechol. Such uses of the product are anticipated to fuel the demand in the acetyl chloride market.   

RESTRAINING FACTORS

"Concerns Over Environmental Sustainability to Impede Market Growth"

There are a number of factors that can push the growth of the acetyl chloride market. Restraining factors such as excess use of pesticides and herbicides is expected to restrain the market demand. Rising concerns over environmental sustainability due to degradation of land due to excess use of fertilizers. Such excess uses of fertilizers are anticipated to restrict the usage of fertilizers in the agrochemical industry. Such factors are anticipated to limit market growth.   

Acetyl Chloride Market REGIONAL INSIGHTS

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"Asia Pacific to Lead Market Due to Expansion of Chemical Industry"

Asia Pacific holds the largest part of the global acetyl chloride market share due to expanding the chemical industry. The growth in the region is due to rising end-user segments is expected to fuel the product demand. Construction of new production facilities by manufacturers for acetyl chloride is also expected to push the market growth. Growing pharmaceutical industries in the countries of the region is also anticipated to drive the product demand. Region also has high consumption of fertilizers from countries such as India, China, and Japan is estimated to increase market share.    

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• CABB (Germany)
• Changzhou Zhongyao (China)
• Excel Industries Ltd (India)
• Shandong Taihe (China)
• Dongtai (China)
• Dongying Dafeng (China)
• Aquapharm Chemical Pvt. Ltd (India)
• Shangdong Xintai (China)
• Shandong Jiahong Chemical (China)
• Puhua (Singapore)
• Anhui Wotu (China)
• Changzhou Ouya Chemical (China)
• IOLCP (India)
• GHPC (India)
• Dev Enterprise (India)
• Nikava Pharmaceutical Industries (India)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.