CHLOROACETYL CHLORIDE MARKET ANALYSIS

Chloroacetyl Chloride MarketSize and Trends

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.

Market Trends

• Increasing the expansion of the production facility of chloride

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

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)