Chloroacetyl chloride is an organic compound and is widely used as a building block of various important chemical reactions. It is a colorless highly corrosive liquid as it gives out a pungent odor with fumes after exposure to moist air and these fumes are highly toxic and are corrosive to metals. Moreover, this chemical is bi-functional and is widely used in the manufacturing of pesticides and pharmaceutical products. In the healthcare industry, it is used in the study of the in-vitro metabolism of chloroacetamide herbicides in rat and human liver microsomes. Moreover, the compound is also used to produce derivatives of quinolone that possess anti-leishmanial activity.
The global chloroacetyl chloride market was estimated to account for US$ 517.9 million in terms of revenue in 2022 and is predicted to grow at a CAGR of 6.6% during the forecast period (2023 to 2030)
Global Chloroacetyl Chloride Market - Growth Drivers
- Growing demand for chloroacetyl chloride
Growing demand for chloroacetyl chloride as acylating agent for the production of intermediates chemicals is expected to fuel the market growth of chloroacetyl chloride. Acylation reactions are used generally used to produce organic chemicals that have a wide range of chemical and biological applications. Acylation reactions are mainly used for the manufacturing of industrial chemicals and pharmaceutical products in which protein assembly is important. Therefore, rising demand for chloroacetyl chloride as an acylating agent as an intermediate is expected to fuel the market growth.
Global Chloroacetyl Chloride Market - Market Opportunities
- Growing usage of chloroacetyl chloride for manufacturing cellulose-derived products
Growing usage of chloroacetyl chloride for manufacturing cellulose-derived products is expected to fuel the market growth of chloroacetyl chloride. Chloroacetyl chloride is used as the precursor of cellulose-derived products and the reaction of chloroacetyl cellulose with other groups produces highly substituted cellulose derivatives. Cellulose-derivative product is widely used across films, water-resistant coatings for medicines, removable coatings for photographic films, and photo-bactericidal plastic films. Hence, the rising usage of chloroacetyl chloride for the production of cellulose-derived products is expected to offer new room for a growth opportunity to the market of chloroacetyl chloride.
Global Chloroacetyl Chloride Market -Market Restraints
- Chloroacetyl chloride is claimed to have few side effects on human health
Chloroacetyl chloride has little side effects on human health when it comes to breathing. These include eye irritation, skin problems, nose and throat discomfort, and coughing. Moreover, higher exposure can also lead to an accumulation of fluid in the lungs and that can ultimately result in breathing problems. Therefore, the aforementioned side effects associated with exposure to chloroacetyl chloride are expected to curb the market growth over the forecast timeframe.
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Key Takeaways
Among manufacturing process, the chlorination of acetyl chloride segment contributed to the substantial share of 37.3% in the global chloroacetyl chloride market in 2022, reporting US$ XXX million in terms of revenue. The chlorination of the acetyl chloride process is followed by the oxidation of 1, 1-dichloroethylene process, in terms of revenue share.
Market Trends
Increasing investment by major players to enhance the production of chloroacetyl chloride is expected to boost the market growth of chloroacetyl chloride over the forecast timeframe. For instance, in November 2017, Anjaniya Industries has announced to set up a chemicals unit in Meghnagar in Jhabhua district in Madhya Pradesh. The project involves setting up of manufacturing facility to produce specialty chemicals like Chloro Acetyl Chloride (150 mtpm), Mono Chloro Acetic Acid (100 mtpm) and Hydrochloric Acid (30%) (300 mtpm) as a by-product.
Increasing exports of plastic products is another major trend that is expected to propel the demand for chloroacetyl chloride as it is used in the production of plastic film. According to the India Brand Equity Foundation, from April-October 2018, top five importers of Indian plastic products were China (US$ 553.42 million), U.S. (US$ 234.76 million), Italy (US$ 188.31 million), Bangladesh PR (US$ 168.33 million) and UAE (US$ 159.02 million).
Competitive Section
Key players active in the global chloroacetyl chloride market are 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.
Few Recent Developments
ALTIVIA Petrochemicals, LLC
- In April 2019, ALTIVIA announced the completion of a new multipurpose production unit at its Phosgene Derivatives Unit at La Porte, Texas. This new facility will result in a 30% increase in capacity for the production of acid chlorides and chloroformates.
- In January 2016, S. industrial chemicals manufacturer Altivia has completed the construction of facilities to produce choloroacetyl chloride at its La Porte, Texas manufacturing site
