Global Chloroacetyl Chloride market was valued at US$ 517.9 Mn in 2022, exhibiting a CAGR of 6.6% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 861.8 Mn by 2030. An organic compound called chloroacetyl chloride serves as a fundamental component in several significant chemical processes. In order to produce chloroacetyl chloride for commercial use, chloroacetic acid is typically combined with thionyl chloride, sulfuryl chloride, phosphorus trichloride, or phosgene. Chloroacetyl chloride can also be made by chlorinating sodium chloroacetate in the presence of chlorinating agents or by chlorinating acetyl chloride in the presence of stronger aliphatic acids like chloroacetic acids. The most common form of chloroacetyl chloride is a colorless liquid that is extremely corrosive. It emits fumes and a strong odor when exposed to moist air.
Global Chloroacetyl Chloride Market- Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 outbreak has majorly impacted the global chloroacetyl chloride market negatively, owing to the strict lockdown and stringent regulations, followed by the government, and thus there was a decrease in demand for chloroacetyl chloride. Moreover, the production process of the chloroacetyl chloride is disrupted due to social distancing and a lack of manpower. In addition, the market for chloroacetyl chloride has been impacted by political and economic developments in addition to the pandemic. For instance, the industry may be impacted by international trade disputes, alterations in governmental regulations, and variations in exchange rates. Although growing demand for chloroacetyl chloride after COVID-19 is expected to witness significant market growth during the forecast period.
Figure 1. Global Chloroacetyl Chloride Market, By Application , 2022
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Global Chloroacetyl Chloride Market - Growth Drivers
Growing production of adrenaline for medical usage for treating serious conditions such as anaphylaxis, cardiac arrest, and croup is expected to fuel the market growth of chloroacetyl chloride. Also, sometimes the body is unable to produce adrenalin hormone, in this situation synthetically prepared adrenalin hormone is supplied to the patient, which is produced through the reaction of catechol and chloroacetyl chloride. Hence, the rising demand for synthetically prepared adrenalin hormone is projected to propel the market growth of chloroacetyl chloride.
Global Chloroacetyl Chloride Market - Restraints
Growing adoption of biodegradable herbicides in agrochemical industry is a prime factor expected to hinder the market growth of chloroacetyl chloride. Rising concern over environmental sustainability due to growing cases of soil erosion and water pollution, which ultimately leads to the degradation of land and water. Due to this various organizations are further anticipated to restrict the usage of herbicide in the agrochemicals industry, which in turn hampers the market growth of chloroacetyl chloride.
Ban of pesticides in Europe due to rising concern over the environment is expected to hinder the market growth of chloroacetyl chloride. For instance, in March 2019, the EU bans UK's most-used pesticide over health and environmental concern. European Union will ban the most-commonly used pesticides after safety officials reported human health and environmental concerns. Hence, the ban of pesticide in Europe is expected to negatively affect the market growth chloroacetyl chloride.
Chloroacetyl Chloride Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2022: | US$ 517.9 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.6% | 2030 Value Projection: | US$ 861.8 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Daicel Corporation, ALTIVIA Petrochemical, LLC, Shiva Pharmachem Ltd., CABB, Transpek Industry Limited, Triveni Chemicals, Taixing Shenlong Chemical Co., Ltd, Chengwu Chenhui Environmental Protection Technology Co., Ltd., Zouping Qili Additives Co.Ltd, and YiDu Jovian Industry Co., Ltd. |
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Growth Drivers: |
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Restraints & Challenges: |
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Market Opportunities
Rising demand for acids anhydrides that are mainly produced from chloroacetyl chloride is projected to propel the market growth over the forecast period. Acids anhydrides are widely used in the preparation of pharmaceutical formulations, industrial chemicals, and perfumes. Moreover, it is also used in the manufacturing of aspirin and the synthesis of heroin by diacetylation of morphine reaction. Therefore, the growing demand for Acids Anhydrides from the aforementioned application is expected to propel the market growth.
Expanding chemical industry around the globe, especially in Asia Pacific region is projected to propel the market growth of chloroacetyl chloride. According to The Economic Times, the India chemical industry is expected to grow at around 9% per annum to reach US$ 304 billion by FY25, from US$ 163 billion in FY18. The growth is likely to be driven by rising demand in end-use segments for specialty chemicals and petrochemicals intermediates. Hence, expanding the chemical industry is expected to foster market growth over the forecast period.
Figure 2. Global Chloroacetyl Chloride Market, By Region, 2022
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Market Trends
Increasing the expansion of the production facility of chloride by major players to meet the rising demand across various end-use industries is expected to fuel the market growth of chloroacetyl chloride. For instance, in January 2016, US industrial chemicals manufacturer ALTIVIA has completed the construction of facilities to produce choloroacetyl chloride at its La Porte, Texas, manufacturing site. The La Porte site is a fully integrated phosgene derivative chemical production site.
Expanding pharmaceutical industry due to high economic growth and increasing government initiatives, especially in the Asia Pacific region is expected to foster the market growth of chloroacetyl chloride. According to the India Brand Equity Foundation, India is the largest provider of generic drugs globally. Indian pharmaceutical sector industry supplies over 50% of the global demand for various vaccines, 40% of generic demand in the U.S., and 25% of all medicine in the U.K. The pharmaceutical sector was valued at US$ 33 billion in 2017. The country’s pharmaceutical industry is expected to reach US$ 55 billion, growing at a CAGR of 22.4% over the forecast period (2015–2021)
Segment information:
By application segment, the Global Chloroacetyl Chloride Market is categorized into chemical production, herbicides, and active pharmaceutical ingredient. The active pharmaceutical ingredient segment held the largest market share in 2022 and is further projected to grow at the highest CAGR during the forecast period owing to rising demand for chloroacetyl chloride in the industry as an intermediate in the synthesis of various APIs such as chloramphenicol, naproxen, and thiophene-3-carboxylic acid.
The herbicide segment holds the second largest share after the active pharmaceutical ingredient in 2022. Herbicides like metolachlor, acetochlor, and butachlor are made from chloroacetyl chloride.
Global Chloroacetyl Chloride Market– Recent Developments
Global Chloroacetyl Chloride Market– Regional Insights
Asia Pacific held the largest revenue share of 39.50 % in the Global Chloroacetyl Chloride Market in 2022 and is expected to maintain its dominance over the forecast period. Furthermore, Asia Pacific region is projected to be the fastest-growing region in the global Chloroacetyl Chloride market during the forecast period. Moreover, growing chemical manufacturing industries in China, India, South Korea, Taiwan, and Japan along with rising demand from a variety of application industries are expected to witness significant market growth in Asia-Pacific during the forecast period. Furthermore, due to rapid industrialization and favorable government policies aimed at fostering domestic production activities, China is expected to be one of the chloroacetyl chloride markets with the fastest rate of growth globally. Additionally, increased demand from end-use industries like agrochemicals will fuel growth.
Global Chloroacetyl Chloride Market – Key Players
Major players operating in the Global Chloroacetyl Chloride Market include Daicel Corporation, ALTIVIA Petrochemical, LLC, Shiva Pharmachem Ltd., CABB, Transpek Industry Limited, Triveni Chemicals, Taixing Shenlong Chemical Co., Ltd, Chengwu Chenhui Environmental Protection Technology Co., Ltd., Zouping Qili Additives Co.Ltd, and YiDu Jovian Industry Co., Ltd.
*Definition: Chloroacetyl chloride is one of the most versatile compounds that is used as an intermediate in the synthesis of many organic chemical compound. It has the oduct is obtained by the process of chlorination of acetyl chloride in the presence of stronger aliphatic acids. Moreover, this chemical is also used in the preparation of various pharmaceutical formulation. Some of the major herbicides that are manufactured by using chloroacetyl chloride are chloroacetyl chloride.
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Vidyesh Swar
Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.
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