Tetradecyl chloride is used in healthcare industries serving as a biocide, used in research labs and organizations for personal as well as in contract research organizations as an intermediate. Tetradecyl chloride market is expected to foray ahead with a higher single-digit CAGR over the assessment period.
Market goliaths are consistently putting efforts to make developments in the product to align with the trend of the market demand. For instance, Triveni Chemicals, Gelest Inc., Halliburton, United Laboratories amongst others are witnessed to launch upgraded products with higher purity levels, more reactivity, along with other properties so that they can attract more customers.
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Based on industry requirements, tetradecyl chloride is used by healthcare professionals, research organizations, etc. In 2019, healthcare professionals accounted to hold the highest market share under tetradecyl chloride as manufacturers have implemented safety, more mono-constituent and other innovation. Also, this particular chemical fits in the level wise guidelines of chemical safety board.
However, tetradecyl chloride used in healthcare is expected to have a higher growth rate till 2030 attributed towards shifting consumer needs and inclination of market players towards with a higher degree of penetration.
COVID-19 Impact Insights
COVID-19 pandemic has enforced countries across the globe to execute mandatory social distancing and lockdown, flattening the global economic curve with the disturbance in the demand supply chain. Almost every market has been disrupted by the pandemic and tetradecyl chloride market has also been affected largely. COVID-19 pandemic has presented massive disruptions in the demand supply equilibrium across multiple industries, leading towards economic crisis at a global level. Plant shut downs in Asia-Pacific and North America in the second quarter of 2020 has reduced the production scale of tetradecyl chloride. However, with the constant strategic initiatives by the government and established funding models to support the sector would help the tetradecyl chloride market to bounce back strongly best by fourth quarter of 2020.
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Segmentation Analysis of Tetradecyl Chloride Market
The global tetradecyl chloride market is bifurcated into three major segments: application, end user, and region.
On the basis of application, tetradecyl chloride market has been segmented as follows:
- Chemical Intermediate
- Reverse osmosis
On the basis of end user, tetradecyl chloride market has been segmented as follows:
- Healthcare professionals
On the basis of geographic regions, tetradecyl chloride market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Tetradecyl Chloride Market: Regional Outlook
Based on regional split, the report “tetradecyl chloride Market” takes into account six prominent regions including North America, Europe, Latin America, East Asia, South Asia and Oceania and Middle East & Africa. Of these, Asia Pacific collectively accounts for nearly 40% of the tetradecyl chloride market share.
Further, North America is expected to turn out as the most promising region under tetradecyl chloride market owing 18% of the global chemical shipments. Also, U.S. is one of the most prominent country in the exports of chemicals, thus the region would witness high growth rate over the assessment period (2020-2030).
Europe collectively accounts for one fourth of the market share in 2019 and is anticipated to rise with a higher single digit CAGR. Middle East & Africa accounts for nominal shares under tetradecyl chloride market.
Tetradecyl Chloride Market: Key Players
Being a highly consolidated market, with limited players in the market like Shiva Pharmachemicals, Triveni Chemicals, Gelest Inc., Halliburton, United Laboratories etc. are amongst the prominent players in Tetradecyl Chloride market accounting for over 60% of the market revenues.
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