May 04, 2023 06:00 ET | Source: REPORTSINSIGHTS CONSULTING PVT LTD REPORTSINSIGHTS CONSULTING PVT LTD
New York, May 04, 2023 (GLOBE NEWSWIRE) -- According to the report by Reports Insights, the chloroacetic acid market was valued at USD 879.5 billion in 2022 and is projected to reach USD 1,054.7 billion by 2030, growing at a CAGR of 3.7%. The global chloroacetic acid market is expected to see significant growth in the coming years, driven by rising demand from various end-use industries such as pharmaceuticals, personal care, and agrochemicals. 2 Propanol Is Isopropanol
Request PDF Sample Report @ https://www.reportsinsights.com/sample/673877
Chloroacetic acid is industrially identified as monochloroacetic acid and is a colorless, crystalline organic compound with the chemical formula ClCH2CO2H. Industrially monochloroacetic acid is prepared by two methods including chlorinating acetic acid using a catalyst known as acetic anhydride and by hydrolyzing trichloroethylene using sulfuric acid. Chloroacetic acid is a highly corrosive substance that is used as a chemical intermediate for the production of various pharmaceuticals and insecticides.
Moreover, in the pharmaceutical industry, chloroacetic acid is used as a key intermediate in the production of a variety of drugs such as antibiotics, antiviral agents, and anesthetics. For instance, as per the report published by Statista, the revenue in the pharmaceuticals market amounted to USD 1,163 billion in 2023 and is expected to reach USD 1,435 billion by 2027. Hence, the growing pharmaceutical industry is proliferating the demand for chloroacetic acid.
In addition, chloroacetic acid is used in the production of dyes, surfactants, and textile auxiliaries, and as a reagent in the organic synthesis of photographic film. Further, they are used in the large-scale production of thickening agents including carboxymethyl cellulose and carboxymethyl starch. Thus, the aforementioned factors are driving the demand for the chloroacetic acid market.
Request For Customization/Enquiry @ https://www.reportsinsights.com/enquiry/673877
Global Chloroacetic Acid Market Segmentation Details:
Based on Types, in 2022, the dichloroacetic acid segment accounted for the largest market share in the chloroacetic acid market owing to low toxicity and better solubility in water making them suitable for cosmetic treatments including tattoo removal and chemical peels. Additionally, they are used as a chemical intermediate in pharmaceuticals and as a medication for the chemoablation of warts, including genital warts. As a result, the aforementioned applications are proliferating the segment growth.
Based on Application, in 2022, the herbicide segment accounted for the largest market share in the chloroacetic acid market due to the widespread use of chloroacetic acid in the manufacturing of herbicides including glyphosate and dimethoate. Further, the growing adoption of herbicides in the agricultural industry to improve the moisture content of the soil and protect the crops from different kinds of weeds is bolstering the demand for chloroacetic acid. For instance, as per the report published by Statista, the global herbicides market amounted to be USD 39.4 billion in 2021 and forecasted to reach USD 48.9 billion in 2027. Hence, the increasing demand for high-quality food is bolstering the need for herbicides, in turn, driving the demand for chloroacetic acid.
Based on End-User, the personal care segment is anticipated to offer substantial shares to the global chloroacetic acid market growth during the forecast period. In the personal care industry, chloroacetic acid is used in the manufacturing of amphoteric surfactants that are used in hair shampoos. Further, chloroacetic acid is used in permanent hair styling formulations and in the production of hair care products including conditioners and hair masks due to foaming property, in turn, expected to drive the segment growth.
Based on region, in 2022, Asia Pacific accounted for the largest market share in the chloroacetic acid market due to increasing investment in the healthcare sector, particularly in countries including India and Malaysia. For instance, as per the report published by Statista, in 2022, the revenue in the health care segment is amounted to be USD 543.80 million in 2023 and is expected to reach USD 827.50 million by 2027. Thus, the growing healthcare sector is driving the need for chloroacetic acid for the production of various drugs.
Find What You Need With Our Detailed Table Of Contents (TOC) & Summary Of Chloroacetic Acid Market Report @ https://www.reportsinsights.com/industry-forecast/global-chloroacetic-acid-market-statistical-analysis-673877
List of Major Global Chloroacetic Acid Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
Global Chloroacetic Acid Market Segmentation:
Discover More With Reports Insights Library Of Others Research Reports:-
Lead-Acid Battery Market By Type (SLI, Stationary, And Motive), By Technology (Flooded and VRLA (AGM (Absorbed Glass Mat) and Gel (Gelled Electrolytes))), By Plates (Pasted Flat Plates and Tubular Plates), By Application, (Automotive, UPS, Telecommunication, Electric Bikes, Transport Vehicles, and Others), By Region and Segment, Forecast Period 2022 - 2030
Adipic Acid Market By Application (Nylon 66 Fibers, Polyurethanes, Nylon 66 Engineering Resins, Adipate Esters, Unsaturated Polyester Resins, Food Additives, Plasticizers, Wet Paper Resins, Coatings, Synthetic Lubricants, and Others), By End-use (Automotive, Electrical and Electronics, Textiles, Food and Beverages, Personal Care, Pharmaceutical, Paper and Others), By Region and Segment, Forecast Period 2022 - 2030
Chlorinated Polyethylene (PE-C) Market By Type (CPE 135A and CPE 135B), Application (Wire and Cable Jacketing, Impact Modifier, Roofing, Energy Storage, Appliance, Hose and Tubing, Molding and Extrusion, Magnetic, Adhesive, and Others), End-user (Automotive, Construction, Industrial, Packaging, and Others), By Region, Forecast Period 2023 - 2030.
Lead-Acid Battery Market By Type (SLI, Stationary, And Motive), By Technology (Flooded and VRLA (AGM (Absorbed Glass Mat) and Gel (Gelled Electrolytes))), By Plates (Pasted Flat Plates and Tubular Plates), By Application, (Automotive, UPS, Telecommunication, Electric Bikes, Transport Vehicles, and Others), By Region and Segment, Forecast Period 2022 - 2030
Benzoic Acid Market Size, Share & Trends Analysis, By Application (Benzoates, Benzoate Plasticizers, Alkyd Resins, Animal Feed Additives, and Others), End-Use Industry (Food and Beverages, Chemicals, Pharmaceuticals, Personal Care, Flooring and Film, and Others), Sales Channel (Direct Sales and Indirect Sales), Region, Forecast Period 2023 - 2030
About Reports Insights Consulting Pvt Ltd
100 Ethanol ReportsInsights Consulting Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports. Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by ReportsInsights Consulting Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in the foremost countries around the globe.