P-Toluoyl Chloride Market: an Overview and Dynamics
P–toluoyl chloride is a colorless liquid chemical which has become ideal intermediate in range of applications such as preparation of drugs and agricultural chemicals. P-toluoyl chloride is also known as p-methyl benzoyl chloride and owing to its versatile applications it is used as an intermediate in dye preparation. Pharmaceutical industry has been identified as primary consumer of p-toluoyl chloride and is poised to drive the global demand during the forecast period (2020-2030). As pharmaceutical intermediates are the key chemicals in the production of any active pharmaceutical ingredient, p-toluoyl chloride being an ideal intermediate in the pharmaceutical industry will create significant demand. In 2019, global pharmaceutical market valued over US$ 1,250 Bn and is poised to surpass the market size of US$ 1,500 Bn by the midterm forecast (2020-2025) in turn creating lucrative opportunities for p-toluoyl chloride market suppliers.
On the basis of application, p-toluoyl chloride is mostly used as an intermediate in pharmaceutical industry and is poised to remain largest consumer of p-toluoyl chloride during the forecast period. After pharmaceutical industry, dye industry has been identified as a second largest consumers of p-toluoyl chloride and currently accounts for over one fourth of the global demand. Global dye market is poised to expand at a CAGR of ~3% on the back of increasing demand from textile and paper industry. Dye market being a prominent consumer of p-toluoyl chloride is poised to generate huge demand during the forecast period. P-toluoyl chloride is also used in production of pesticides and other agricultural chemicals which will assist the market growth in forthcoming years.
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 p-toluoyl 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 p-toluoyl chloride market. Halted import export between borders may create impediments in supply chain resulting huge loss for p-toluoyl chloride suppliers in year 2020. Ease of lockdowns in numerous countries across the globe is set to recover the sales of p-toluoyl chloride by the end of 2020
Segmentation Analysis of P-Toluoyl Chloride Market:
The global p-toluoyl chloride market is bifurcated into three major segments: grade, application, and region.
On the basis of grade, p-toluoyl chloride market has been segmented as follows:
- Lab Grade
- Industrial Grade
On the basis of application, p-toluoyl chloride market has been segmented as follows:
- Agricultural Chemicals
- Dye Intermediates
- Photosensitive Materials
On the basis of geographic regions, p-toluoyl chloride market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
P-Toluoyl Chloride Market: Regional Outlook
The report on the global p-toluoyl chloride market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. China and India being the largest dye producer all over the world and presence of huge pharmaceutical industry in the region made them the largest consumer of p-toluoyl chloride during the historical period. As p-toluoyl chloride is key is an intermediate in production of dye and in drug making, these two regions will be leading the global consumption of p-toluoyl chloride over assessment period. China, alone accounts for near half of the global dye consumption due to huge textile industry and the scenario is projected to continue during the forecast period creating significant demand for p-toluoyl chloride. East Asia is followed by North America and is projected to assist the global p-toluoyl chloride market growth in forthcoming years.
P-Toluoyl Chloride Market: Key Players
Global p-toluoyl chloride market is highly consolidated in nature in which prominent company’s accounts for over half of the global production and sales. Currently, Dalian Richfortune Chemicals Co., Ltd, Taixing Zhongran Chemical Co.,Ltd., Taixing Zhongran Chemical Co.,Ltd., Manus Aktteva Biopharma LLP, TCI Tokyo Chemical Industry Co., Ltd, Jiangsu Wanlong Chemical Co., Ltd, Evergreensino Chemical Co.,Ltd, Thermo Fisher (Kandel) GmbH, Advanced Technology & Industrial Co. Ltd are the key stakeholders in global p-toluoyl chloride market.
The research report presents a comprehensive assessment of the p-toluoyl 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 p-toluoyl chloride market report provides analysis and information, according to market segments such as geographies, grade and application.
The P-Toluoyl Chloride Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The P-Toluoyl 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 p-toluoyl 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 p-toluoyl chloride report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The p-toluoyl chloride report also maps the qualitative impact of various market factors on market segments and geographies.
The P-Toluoyl 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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