Chloroacetyl Chloride Market To Reach Us$ 735.7 Million By 2027 At A Cagr Of 5.6% Over The Forecast Period (2020 – 2027)

Global chloroacetyl chloride market is estimated to reach US$ 735.7 million in terms of revenue by the end of 2027, growing at a CAGR of 5.6% during the forecast period (2019-2027)

Chloroacetyl chloride is an organic compound derived from chlorination process of acetyl chloride with strong aliphatic acids. It is widely used as intermediate in production of various pesticides such as butachlor, alachlor, acetochlor, and metolachlor; around 100 million pounds annually. It is also used to produce phenacyl chloride and also used as a tear gas. Moreover, chloroacetyl chloride is used in the preparation of various pharmaceutical formulation. It is also used as an intermediate in several important chemical products.

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Market Dynamics:

Increasing food demand due to the increasing population worldwide, as well as increasing demand for pesticides and fertilizers in farming to increase crop production and meet the rising demand for food, is expected to propel the growth of the chloroacetyl chloride market. For instance, according to the Food and Agriculture Organization of the United Nations, overall food production needs to increase by 70% from 2005/07 to 2050 to sustain a population of 9.1 billion. Moreover, growing usage of herbicides such as alachlor, butachlor, and acetochlor to increase crop production of sorghum, soybean, and corn is also expected to fuel the growth of the chloroacetyl chloride market.

Expanding pharmaceutical and agriculture industry, especially in the Asia Pacific, is expected to augment the growth of the chloroacetyl chloride market. For instance, India is the largest provider of generic drugs globally, according to the India Brand Equity Foundation (IBEF).

However, growing adoption of biodegradable pesticides/herbicides, ban on pesticides, and stringent health/environmental regulations are expected to restrain the chloroacetyl chloride market. For instance, in May 2020, The Ministry of Agriculture and Farmers’ Welfare (the Government of India) banned the use of 27 insecticides and pesticides in the country.

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Competitive Analysis:

Major players operating in the chloroacetyl chloride market are YiDu Jovian Industry CO., Zouping Qili Additives Co., Chengwu Chenhui Environmental Protection Technology Co., Taixing Shenlong Chemical Co., Triveni Chemicals, Transpek Industry Limited, Shiva Pharmachem Ltd, CABB, ALTIVIA Petrochemicals Corporation, and Daicel Corporation.

Major players in the market are involved in different business strategies, such as business expansion, to enhance their market share or to strengthen their product portfolio. For instance, in 2019, ALTIVIA Petrochemicals Corp. 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.

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