Neodecanoyl Chloride Market: Overview and Dynamics
Neodecanoyl chloride is colorless liquid with pungent odor and is primarily used as an intermediate to produce organic peroxide initiators. Neodecanoyl chloride is also known as neodecanoic chloride. Neodecanoyl chloride being key ingredient in production of organic peroxides is set to grow in line with the organic peroxides market growth. Organic peroxides are essential chemicals which are used to produce various kinds of polymers like polystyrene, and polyvinyl chloride (PVC). In last decade, polyvinyl chloride has become material of choice in range of applications including but not limited to automobile, electronics, healthcare, building and construction. Demand for organic peroxides are set to grow on the back of PVC market which will create significant demand for organic peroxides thus for neodecanoyl chloride.
Attributed to neodecanoyl chloride’s ability to act as an intermediate and chemical reagent, neodecanoyl chloride has become ideal ingredient in agrochemical and pharmaceutical industries. Growth of pharmaceutical industry has driven the consumption of neodecanoyl chloride’s during the historical period (2015-2019) and is poised to lead the global consumption accounting for over one third of the global market share by 2030. Apart from this neodecanoyl chloride is highly consumed as organic peroxides in composite products like fiberglass. Attributed to aforementioned facts and scenarios, global neodecanoyl chloride market is poised to expand at a low single digit CAGR during the forecast period (2020-2030). However, presence of numerous substitutes like octanoyl chloride (OTCL) and pivaloyl chloride may impact its demand in the long term forecast.
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 market so the neodecanoyl 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, coronavirus has less impact over agrochemical and pharmaceutical industry as compared to other industries. Further, fast rebound in these markets have stabilized the demand for neodecanoyl chloride in third quarter. But other affected end use industries like PVC and decreased demand for chemical reagents and organic peroxides have hampered the neodecanoyl chloride’s demand in second and third quarter which may remain same till market recovers from recession.
Segmentation Analysis of Neodecanoyl Chloride Market:
The global neodecanoyl chloride market is bifurcated into application and region.
On the basis of application, neodecanoyl chloride market has been segmented as follows:
- Agrochemical Production
- Chemical Reagents
- Organic Peroxides
- Organic Synthesis
- Pharmaceutical Production
On the basis of geographic regions, neodecanoyl chloride market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Neodecanoyl Chloride Market: Regional Outlook
The report on the global neodecanoyl chloride market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. Currently, East Asia has the presence of largest agrochemical and pharmaceutical industry due to which it has driven the consumption of neodecanoyl chloride during the forecast period. The scenario is poised to remain same over the assessment period attributed to huge demand for agrochemicals from the region. China being the hub of pharmaceutical industry is set to fuel the demand for neodecanoyl chloride in forthcoming years. Further, growing demand from United States for active pharmaceutical ingredients will create significant demand for neodecanoyl chloride during the assessment period.
Neodecanoyl Chloride Market: Key Players
Global neodecanoyl chloride market is partially fragmented in nature in which few prominent company’s accounts for significant share of the global neodecanoyl chloride market. Currently, ALTIVIA Specialty Chemicals, LLC, BASF, BOC Sciences, CABB Group GmbH, Lanzhou Auxiliary Agent Plant Co., Ltd and Wilmar International Ltd are key manufacturers in global neodecanoyl chloride market. Owing to moderate demand and presence of numerous substitutes, there were not any significant investments in neodecanoyl chloride market. The scenario may change in long term owing to its increasing utilization as chemical reagents.
The research report presents a comprehensive assessment of the neodecanoyl 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 neodecanoyl chloride market report provides analysis and information, according to market segments such as geographies, and application.
The Neodecanoyl Chloride Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Neodecanoyl 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 neodecanoyl 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 neodecanoyl chloride report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The neodecanoyl chloride report also maps the qualitative impact of various market factors on market segments and geographies.
The Neodecanoyl 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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