Indan Market Size, Share, Growth, and Industry Analysis by Type (Purity＜99% and Purity≥99%) By Application (Pharmaceutical Intermediate, Organic Intermediate, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Indan Market Report Overview

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The global indan market size is expected to be USD 5 million in 2022 and is projected to touch USD 7.97 million by 2031, exhibiting a CAGR of 4.4% during the forecast period. 

A chemical substance having the formula C6H4(CH2)3 is known as indane or indan. It is a liquid hydrocarbon that has no color. It is a bicyclic molecule and a petrochemical. It is present in coal tar at a level of around 0.1%. Typically, indene is hydrogenated to create it.

A few examples of derivatives include the substances 1-methylindane and 2-methylindane (where one methyl group is connected to the five- carbon ring), 4-methylindane and 5-methylindane (where one methyl group is added to the benzene ring), and numerous dimethylindanes. By utilizing ethanol and metallic sodium as catalysts in a reaction between diethyl phthalate and ethyl acetate, for example, it is possible to get other derivatives indirectly. Indanedione ethyl ester is produced as a result of the process, and when it reacts with sodium ions, it produces salt. Hydrochloric acid aqueous solution can be added to undo this.

An empathogen-entactogen family includes indan derivatives. They are close derivatives of MDA and MDMA, two additional empathogen-entactogens. MDAI and MDMAI are a couple of examples. NM-2-AI, a 2-aminoindane isomer of amphetamine that Nichols also produced, and its iodized variant 5-IAI, are both indan isomers of the stimulant.

COVID-19 Impact: Lockdown and Restrictions Led to Indan Market’s Decline

The global COVID-19 pandemic has been unprecedented and staggering, with indan experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Due to COVID-19 pandemic’s disruptions in the supply chain and resulting shortage of raw materials, the indan market was severely impacted. Roadblocks were caused by a lack of workforce and rigorous rules, such as lockdowns and mobility restrictions, while interruptions in the product's end-use industries decreased demand. In addition, less demand from important end-use sectors was seen as a result of the pandemic's broad disruptions. Together, these elements diminished the market's growth potential during COVID-19.

LATEST TRENDS

"New Inventions and Disease Treating Properties to Help Accelerating the Indan market"

Mast cell stabilization and anti-inflammatory properties are properties of indan compounds, according to the invention. Because of their bronchodilator function, the chemicals have the potential to treat asthma. As a result of the compounds' ability to stabilize mast cells, they may be used to treat allergic rhinitis, allergic conjunctivitis, and other anaphylactic or allergic diseases. The anti-inflammatory action may be useful in the treatment of inflammatory disorders such as gout, rheumatic diseases, ankylosing spondylitis, polymyalgia rheumatic, temporal arteritis, polyarteritis nodosa, polymyositis, systemic lupus arteriosis, and others. Topical treatments might be used for conditions such atopic excema, weeping excema, psoriasis, chronic discoid lupus erythematosus, lichen simplex chronicus, hypertrophic lichen planus, and palmar plantar pustulosis. They could be useful as immunosuppressants as a therapy for some malignant disorders.

Indan Market Segmentation

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• By Type Analysis

By type, market is segmented into purity＜99% and purity≥99%. The purity < 99 % segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into pharmaceutical intermediate, organic intermediate and others. The pharmaceutical intermediate segment will lead the global share through 2028.

DRIVING FACTORS

"Increase in Research and Development of Pharmaceutical Industry to Push the Indan Market"

The indan are composed of an aliphatic cyclopentane/cyclopentene ring fused with an aromatic benzene ring to create a stiff bicyclic ring-framework that is loaded with a variety of chemical characteristics. These fused ring structures' numerous options for altering the substituent pattern allow for a thorough evaluation of the structure-activity relationship study of medicinal compounds that have been thoughtfully created and targeted at specific molecular targets.

"Development of Effective Pharmaceutical and Commercial Drugs to Boost the Indan Market"

While pharmacophores based on the indan moiety, like aminoindanes and indanedione, contribute to the development of neuroleptics and neuroprotective molecules, indan serve as useful scaffolds for the development of effective pharmaceuticals and commercial drugs, such as donepezil, indinavir, and sulindac. In a similar vein, Indan -carboxamide derivatives demonstrate a strong candidacy as CGRP receptor antagonists, whereas substituted Indan and its analogue Indene demonstrate a favorable profile for the development of anticancer therapies by targeting the diverse oncologic pathways.

RESTRAINING FACTORS

"Health Risks and Flammable Properties Led to Decline in the Market"

Ingestion of indan poses an aspiration risk and may irritate people (may cause lung injury). Both in liquid and vapor form, it is combustible. If it is ingested and gets into the body's airways, it might be lethal. The risk associated with the handling of the substance as well as utilizing it for various applications could thus hamper its demand in the future. Consequently, buyers could shift to other, safer alternatives. These factors could limit the growth potential of the market during the forecast period.

Indan Market Regional Insights

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The indan market is expected to grow significantly in Asia Pacific over the course of the projected period. The increase is the result of an increase in product demand for pharmaceutical ingredient applications, where China is the major supplier. The surface-active agent's increased demand for indan will drive market expansion in Europe. The increase in product demand from stabilizer applications is responsible for North America's expansion. Due to the growing use of indan as a chemical intermediate, the Middle East and Africa are expected to have moderate growth.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• JFE Chemical Corporation (Japan)
• Kylin Chemical (China)
• Reda Chemicals (India)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.