Palmitoyl Chloride Market: an Overview and Dynamics
Palmitoyl chloride is colorless liquid chemical compound with string odor. Palmitoyl chloride is also known as hexadecanoyl chloride, palmitic chloride and palmitic acid. Efficacy to act as an intermediate, palmitoyl chloride is emerged as an ideal ingredient in pharmaceutical industry. Palmitoyl chloride is used as an organic synthesis chemical to prepare antibiotics such as chloramphenicol hexadecane carbonate and odorless chloramphenicol. Rapid growth of pharmaceutical industry has driven the consumption of palmitoyl chloride during the historical period (2015-2019) and poised to lead the global consumption accounting for over one fourth of the total market share by 2030. Attributed to aforementioned facts and scenario, global palmitoyl chloride market is poised to expand at CAGR of ~3% during the forecast period (2020-2030)
On the basis of application, palmitoyl chloride is mostly used as in intermediate in organic synthesis of pharmaceutical drugs. Pharmaceutical is poised to remain largest consumer of palmitoyl chloride during the forecast period. Global pharmaceutical industry is projected to experience growth rate of 4% during the forecast period surpassing market valuation of US $ 1.5 Trillion by the midterm forecast. After pharmaceutical industry, cosmetic is the second largest user of palmitoyl chloride and is set to expand along with the global cosmetic industry. Global cosmetic industry has experienced significant growth in recent years and is poised to embark on a positive trajectory registering a growth rate of 5% during the forecast period. Further growing consumption from other applications such as pesticides and surfactants are set to result in additional demand for palmitoyl chloride creating significant opportunities for market suppliers.
COVID Impact Insights
The spread of the coronavirus has nearly forced all countries to impose lockdowns and strict social distancing measures which has disrupted every industry and market so the palmitoyl 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, rising corona cases have declined sales of other medicines owing to increased health awareness among people. Also, deaths by other factors like accidents and deaths caused during operation treatments has been declined worldwide ultimately hampering the palmitoyl chloride market. But, conventional demand for palmitoyl chloride has maintained its sales during pandemic. Halted import export between borders may create impediments in supply chain resulting huge loss for palmitoyl chloride suppliers in year 2020
Segmentation Analysis of Palmitoyl Chloride Market:
The global palmitoyl chloride market is bifurcated into three major segments: purity, application, and region.
On the basis of purity, palmitoyl chloride market has been segmented as follows:
- Less than 98%
- More than 99%
On the basis of application, palmitoyl chloride market has been segmented as follows:
On the basis of geographic regions, palmitoyl chloride market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Palmitoyl Chloride Market: Regional Outlook
The report on the global palmitoyl chloride market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. United States has been remained the largest consumer of palmitoyl chloride during the historical period and is set to reign its supremacy over the forecast period. The growth is attributed to huge presence of pharmaceutical and cosmetic industry in the region. United States being the largest pharmaceutical importer and one of the key exporter with an import valuation of over US$ 99 Bn in 2019 is set to drive the global palmitoyl chloride market. On the back of United States, North America is projected to lead the demand for palmitoyl chloride accounting for over third of the global demand. However, China is emerging as global hub for pharmaceutical production and India is set to experience high growth rate. Both the countries are poised to emerge highly lucrative pockets by the end of forecast period.
Palmitoyl Chloride Market: Key Players.
Global palmitoyl chloride market is highly consolidated in nature in which top six prominent company’s accounts for over half of the global production and sales. Currently, BASF, Shiva Pharmachem Ltd., Rudong Lianfeng Chemical industry Co., Ltd, Haihang Industry Co.,Ltd and Santa Cruz Biotechnology, Inc. are the key stakeholders in global palmitoyl chloride market.
The research report presents a comprehensive assessment of the palmitoyl chloride market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The palmitoyl chloride market report provides analysis and information, according to market segments such as geographies, purity and application.
The Palmitoyl Chloride Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Palmitoyl Chloride Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand , Rest of South Asia & Oceania)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Rest of MEA)
The palmitoyl chloride report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The palmitoyl chloride report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The palmitoyl chloride report also maps the qualitative impact of various market factors on market segments and geographies.
The Palmitoyl Chloride Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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