Pivaloyl chloride Market: an overview
Pivaloyl chloride is classified as a harmful chemical with many restrictions on its handling and storage. It is a used as a building block in the pharmaceutical and agrochemical industry.
In pharmaceutical industries, Pivaloyl chloride serves as an important acylating reagent. Pivaloyl chloride is a major raw material used in the synthesis of amides and lipids.
Different important drugs that are manufactured using Pivaloyl chloride are Benzylpenicillin, adrenaline, cefazolin, and other drugs. In agrochemical industries, Pivaloyl chloride finds its application in pesticide intermediates production. The major product agrochemical obtained from Pivaloyl chloride is Chloropivaloyl chloride.
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The presence of global giants like BASF in the Pivaloyl chloride market facilitates the global Pivaloyl chloride market. In chemical industries, Pivaloyl chlorides are used in the synthesis of ketones, amino groups, and anhydrides.
Pivaloyl chloride Market: Dynamics
The global consumption of Pivaloyl chlorides is mainly associated with the growth in pharmaceutical and agrochemical industries. Which are the major drivers for the growth of the Pivaloyl chlorides market around the world. The global Pivaloyl chloride market is consolidated to a few global and regional players only.
Major players in global Pivaloyl chloride markets are mainly from China and India. These countries are global leaders of agrochemical substances. The demand for agrochemicals in these regions is mainly accelerated due to the government’s positive attitude towards agriculture.
The government of India has launched initiatives like Pradhan Mantri Krishi Sinchai Yojana(PMKSY), which helps to support farmers in these regions. With these schemes, the government is targeting an increase in the country’s revenue from agriculture sectors.
This positive attitude in the development of the agriculture sector will boost the global Pivaloyl chloride Market in these countries. The same strategy is followed by various other developing countries of Asia and other parts of the world.
The fluctuating international currency has negative impacts on the Pivaloyl chloride market. Its high flammability and corrosiveness have also raised the safety concerns for the manufacturer’s Transportation of Pivaloyl chloride to involve high risk. These are some of the restraining factors for the growth of the Pivaloyl chloride market.
Pivaloyl chloride Market: Market Analysis
Agrochemical industries have grown significantly in the Asia Pacific region due to the rising demand for food crops in these regions. China and India are leading producers of the agrochemical, which is utilized in regional development in the agriculture sector.
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Thus overall consumption Pivaloyl chlorides expected to witness significant growth in these regions.
The global Pivaloyl chloride market in China and India is experiencing higher growth due to several government inanities, which are encouraging the growth of agriculture in these regions. Besides agrochemical industries, pharmaceuticals and chemical industries have shown significant growth in Asia Pacific regions, which leverages the global Pivaloyl chloride market.
The pharmaceutical industries have been growing at higher single digits CAGR in Europe and America. Since the application of Pivaloyl chlorides is associated with drug manufacturing, the global Pivaloyl chlorides are expected to rise in these regions.
BASF, which operates from Germany, are the major exporters of Pivaloyl chlorides. The agriculture sector being the least contributing sector to the country`s GDP of the United States, contributes a very less to global Pivaloyl chlorides market.
The Latin American & Middle East & Africa markets for Pivaloyl chloride will show stagnant growth in the forecast period due to limited growth in agrochemical and pharmaceutical industries in these regions.
Pivaloyl chloride Market: Key Players.
Prominent players in the global Pivaloyl chloride market are BASF SE, CABB Chemicals, ALTIVIA, Huzhou Salon Chemical, Zouping Qili Additives, Triveni chemicals, Shiva Pharmachem, and Lubon Chemical.v The global Pivaloyl chloride market is consolidated to a few global and regional players only
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The research report presents a comprehensive assessment of the Pivaloyl 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.
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