Trichloroacetyl Chloride Market to Exceed Valuation of US$ 8.8 Bn by 2031, Fact.MR Research Suggests
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Trichloroacetyl Chloride Market Analysis, By Purity (99%, 99.5%, 90%) By Application (Chlorpyriphos, Organic Chemical Synthesis, Oxalyl Acid Synthesis, Acetylation of Esters), By End-use Industry, by Region - Global Forecast 2021-2031
United States, Rockville MD, April 26, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Trichloroacetyl Chloride market is projected to grow at a compound annual rate (CAGR) of 4.6% between 2021 and 2031. The market is expected to reach US$ 8.8 Bn by the end of 2031. The demand for Trichloroacetyl Chloride is expected to rise over the forecast period and the market was valued US$ 5.4 Bn in 2020.
Browse in-depth TOC on "Demand of Trichloroacetyl Chloride Market"
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Trichloroacetyl chloride demand is expected to be majorly driven by increasing use in pharmaceutical applications as a crucial pharmaceutical intermediate. Increasing use of chemical solvents in multiple industry verticals is also expected to favor trichloroacetyl chloride market potential. Government initiatives to boost the manufacturing industry are also expected to positively impact demand for trichloroacetyl chloride.
However, strict mandates against the use of harmful chemicals to conserve the environment are expected to have a constraining effect on market growth. Nevertheless, key trichloroacetyl chloride manufacturers are focusing on expanding their manufacturing capacity to meet rising demand from the pharmaceutical sector.
Why Should Trichloroacetyl Chloride Manufacturers Focus on China? “Presence of Robust Manufacturing Sector & Supportive Government Policies”
China is anticipated to provide lucrative opportunities for trichloroacetyl chloride manufacturers owing to the presence of robust manufacturing infrastructure and increasing support from the government, which is projected to drive more investments in this sector and further bolster market potential through 2031.
Chemical products such as solvents have seen a substantial increase in demand across multiple industry verticals. Other than trichloroacetyl chloride, the demand for chemicals such as acetyl chloride, benzoyl chloride, oxalyl chloride, etc., is also anticipated to see an increase over the forecast period in China.
Trichloroacetyl chloride suppliers are adopting various organic and inorganic strategies to boost their revenue generation potential across the world. Supportive government initiatives to bolster manufacturing industries are also expected to provide incentives to trichloroacetyl chloride companies and propel market growth.
Increasing industrialization and chemical manufacturing are also set to be prominent trends that trichloroacetyl chloride companies will focus on and benefit from over the coming years.
Key players in the Trichloroacetyl Chloride Market
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Key Takeaways from Trichloroacetyl Chloride Market Study
In 2020, the trichloroacetyl chloride market raked in a net worth of US$ 5.4 Bn.
Consumption of trichloroacetyl chloride is projected to rise at a CAGR of 4.6% from 2021 to 2031.
Trichloroacetyl chloride shipments are expected to account for a market valuation of US$ 8.8 Bn by 2031.
Increasing use in pharmaceutical and agricultural applications is expected to majorly guide trichloroacetyl chloride market growth over the decade.
Stringent government mandates against the use of chemicals are expected to hamper trichloroacetyl chloride market growth to a certain extent.
China is anticipated to be the most lucrative market for trichloroacetyl chloride in the Asian region.
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