2-Ethyl Anthraquinone Market Analysis
2-Ethyl Anthraquinone Market - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
2-ethyl anthraquinone is an organic compound, which is a derivative of anthraquinone. It is a solid pale yellow compound, which is used in industrial production of hydrogen peroxide. Anthraquinone is produced from oxidation of anthracene by using chromium as oxidizing agent. When it is produced, it is either yellow or white crystalline solid with a melting temperature of over 1090C. It finds major application in production of hydrogen peroxide. When 2-ethyl anthraquinone undergoes hydrogenation with palladium as a catalyst, it produces both tetrahydroanthraquinone and tetrahydroanthraquinone. It finds applications in production of dyes, detergents, bleaches, textile industry, water purification, and more.
Global 2-ethyl anthraquinone market size is projected to increase significantly during the forecast period (2019-2027), owing to growing use of 2-ethyl anthraquinone in various industries. Increasing demand for hydrogen peroxide as it is finds applications in various industries as bleaching agent is expected to drive growth of the market during the forecast period. It is used as bleaching agent in cotton, fibers, and detergent production. Furthermore, increasing demand for paper packaging is expected to boost the demand for 2-ethyl anthraquinone and thereby support growth of the market during the forecast period. Moreover, detergent industry has witnessed significant growth in the recent past, which is expected to boost the demand for 2-ethyl anthraquinone and hence propel growth of the market in the near future. Furthermore, high growth of GDP, increasing disposable income of individuals around the world are expected to increase the demand for 2-ethyl anthraquinone and thereby drive growth of the market over the forecast period.
However, stringent regulations imposed by government authorities, owing to environmental hazards related to 2-ethyl anthraquinone are expected to restrain growth of global 2-ethyl anthraquinone market during the forecast period.
Market Regional Analysis
Asia Pacific is projected to dominate the global 2-ethyl anthraquinone market and accounts for major market share during the forecast period. This is owing to increasing investment in production of 2-ethyl anthraquinone in emerging economies such as Japan, India, South Korea, and China. Increasing demand for 2-ethyl anthraquinone is expected to boot the market growth in the region. Furthermore, North America is expected to witness slow market growth followed by Europe, owing to moderate demand for 2-ethyl anthraquinone in regions. Moreover, Africa and South America are expected to witness significant market growth during the forecast period, owing to high demand for 2-ethyl anthraquinone in regions.
Key manufacturers operating in the global 2-ethyl anthraquinone market are Cambridge International Corp., Nanjing Chemlin Chemical Co., Ltd, Meyer (Shanghai) Chemical Technology Co., Ltd. E. I. du Pont de Nemours and Company, J & K Scientific Ltd., XiaoGan ShenYuan ChemPharm Co. Ltd, and Alfa Aesar.