Global Methyl & Ethyl Chloroacetate Market was valued at US$ 888.8 Billion in 2022 and is projected to reach US$ 1,789.2 Billion by 2030, exhibiting a CAGR of 9.14% during the forecast period (2023-2030). According to Global Methyl & Ethyl Chloroacetate Market Report, by Product Type (Methyl Chloroacetate and Ethyl Chloroacetate), By Grade (0.98 and Others), By Application (Solvent, Chemical Synthesis, and Others), and By Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) as highlighted in a new report published by Coherent Market Insights.
The market is expected to witness significant growth over the forecast period, owing to increasing demand for methyl & ethyl chloroacetate from various end use industries such as pharmaceuticals, and personal care & cosmetics. Methyl chloroacetate is used in the preparation of trimethylammonium (carboxymethyl) chloride esters. Methyl chloroacetate acts as an extraction solvent during the separation of neutral compounds, while ethyl chloroacetate is used in manufacturing of rodenticides, and as military poison. In the pharmaceutical industry, methyl chloroacetate and ethyl chloroacetate are used as intermediates in the production of drugs. Growing pharmaceutical industry is expected to drive growth of the global methyl & ethyl chloroacetate market. For instance, according to the India Brand Equity Foundation (IBEF), in November 2022, The Indian Pharmaceutical industry is ranked third in pharmaceutical production by volume after evolving over time into a thriving industry exhibiting a CAGR of 9.43% since the past nine years. Generic drugs, over-the-counter medications, bulk drugs, vaccines, contract research & manufacturing, biosimilars, and biologics are some of the major segments of the Indian pharma industry. India has the most number of pharmaceutical manufacturing facilities that are in compliance with the U.S. Food and Drug Administration (USFDA) and has 500 API(Application programming interface) producers that make for around 8% of the worldwide API market.
Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the U.S., and 25% of all medicine in the U.K. The domestic pharmaceutical industry includes a network of 3,000 drug companies and ~10,500 manufacturing units. India has an important position in the global pharmaceuticals sector.
Global Methyl & Ethyl Chloroacetate Market- Impact of Coronavirus (Covid-19) Pandemic
Various countries have reported supply chain shortages of the active ingredients used in disinfectants. These include ethanol, propan-2-ol (isopropyl alcohol), benzyl chloride, ethylbenzyl chloride and methyl chloride. Many regulators have responded by giving derogations or regulatory waivers to allow production of non-approved active ingredients or products from non-approved suppliers. The chemical industry has responded by expanding production of active ingredients and final products. Other companies have also pitched in, for example alcoholic drink producers are now manufacturing hand sanitizers or supplying denatured alcohol to disinfectant makers.
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Browse 32 market data tables* and 20 figures* on "Global Methyl & Ethyl Chloroacetate Market” - Global forecast to 2030.
Key Takeaways of the Market:
- Based on grade, global methyl & ethyl chloroacetate market is segregated into 0.98 and others. 0.98 segment contributed for approximately 52.0% of the revenue share in the global methyl & ethyl chloroacetate market in 2022. The segment growth is driven by increasing applications of 0.98 grade in manufacturing of chemicals such as (carboxymethyl) trimethylammonium chloride esters for various end use applications such as paints, coatings, and glues as a volatile toxic solvent.
- Based on application, chemical synthesis segment held the largest revenue in 2022 in the global methyl & ethyl chloroacetate market. The segment growth is driven by increasing application of methyl & ethyl chloroacetate in formulation of octakis-(carbethoxymethoxy) calix [8]arene, and synthesis of dimethyl carbonate in the chemical industry. According to Business Standard’s report published in October 2022, India’s chemical industry was valued at US$ 163 billion in 2018, and is expected to reach US$ 304 billion by the end of 2025, exhibiting a CAGR of 9.0% during 2018 to 2025. The chemical industry growth is driven by increasing demand in end use segments for petrochemicals and specialty chemical intermediates.
Major players operating in the global methyl & ethyl chloroacetate market are Wuxi Yangshi Chemical, Changzhou Wujin Changshen Chemical Co., Ltd., ChemChina, Anugrah In-Org Pvt Ltd., Jiangsu Xin Run Chemical, Shreyans Chemicals, Urmi Chemicals, Wujiang Qingyun Zhengdong Chemical Co. Ltd., CABB Chemicals, and Jinan Finer Chemical Co. Ltd.
