2-ethylhexanoyl chloride is a slightly colored liquid with a pungent odor and is also known as octanoyl chloride. 2-ethylhexanoyl chloride is largely utilized as an intermediate in various applications including but not limited to agrochemicals, pharmaceuticals and specialty chemicals. During historical period (2015-2019), specialty chemical market has expanded at a CAGR of 4% which has generated significant demand for 2-ethylhexanoyl chloride. Growing demand for specialty chemicals from various industries such as construction, catalysts, electronics, specialty polymers etc. are set to drive the global specialty chemical market and so the 2-ethylhexanoyl chloride market. Apart from this, increasing consumption of 2-ethylhexanoyl chloride as a feedstock and as an organic peroxide initiator is set to fuel the global 2-ethylhexanoyl chloride market at a CAGR of 3% during the forecast period (2020-2030).
Surged demand for 2-ethylhexanoyl chloride in synthesis of pharmaceuticals and agrochemicals has created ample opportunities for market players during the historical period. In result, both the segments collectively accounted for over one third of the global consumption in 2019. The scenario is projected to continue throughout the assessment period at an average CAGR of 2% till 2030. Specialty chemical segment is poised to experience leading growth rate in global 2-ethylhexanoyl chloride and is expected to gain significant share by the end of 2030. Further, growing demand from niche end use industries such as dyes and textile are set to result in additional demand for 2-ethylhexanoyl chloride. Aforementioned applications and end uses are projected to create ample opportunities for market players during the forecast period.
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COVID Impact Insights
Coronavirus outbreak has pushed global economy in all-time great recession. The spread of the coronavirus has not only forced people to remain in their homes but also caused millions of fatalities in the world. Fear of coronavirus outbreak and in order to prevent its further spreading almost every government has imposed strict measures like lockdowns and strict social distancing which has disrupted every industry and so the 2-ethylhexanoyl chloride market across the globe. As per UN stats, global economy is estimated to suffer billion dollars of loss in 2020. The coronavirus pandemic has generated massive disruptions in the demand-supply equation across multiple industries, causing a global economic meltdown.
However, 2-ethylhexanoyl chloride market is poised to rebound early over other business segments. This is attributed to end use sectors like agrochemicals and pharmaceuticals which are some of the least affected business segments. Also these two segments are the primary consumers of 2-ethylhexanoyl chloride and rebound in these two business segments will ultimately stir the market growth in year 2020.
Segmentation Analysis of 2-Ethylhexanoyl Chloride Market:
The global 2-ethylhexanoyl chloride market is bifurcated into three major segments: application, end use and region.
On the basis of application, 2-ethylhexanoyl chloride market has been segmented as follows:
- Organic Peroxide Initiators
On the basis of end use, 2-ethylhexanoyl chloride market has been segmented as follows:
- Specialty Chemicals
On the basis of geographic regions, 2-ethylhexanoyl chloride market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
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2-Ethylhexanoyl Chloride Market: Regional Outlook
The report on the global 2-ethylhexanoyl chloride market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. East Asia has been identified as a leading consumer of 2-ethylexanoyl chloride in 2019 and the scenario is projected to continue over the assessment period. The anticipated growth is on the back of China which is leading specialty chemical producer in the world. Apart from this, currently, China is a hub of pharmaceutical and agrochemical industry. 2-ethylexanoyl chloride being a key ingredient in aforementioned industries and China being a leading producer is set to drive the regional demand during the forecast period. North America and Europe are likely to create moderate demand for 2-ethylexanoyl chloride in forthcoming years.
2-Ethylhexanoyl Chloride Market: Key Players
Global 2-ethylhexanoyl chloride market is partially consolidated in nature in which few prominent company’s accounts for significant share of the global 2-ethylhexanoyl chloride market. Currently, ALTIVIA Specialty Chemicals, LLC, Atul Ltd, CABB Group GmbH, Lanzhou Auxiliary Agent Plant Co., Ltd, Merck KGaA, Shiva Pharmachem Ltd. and TCI America.
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