The global methyl & ethyl chloroacetate market was valued at US$ 760.6 Mn in 2018, according to Global Methyl & Ethyl Chloroacetate Market Report, by Product Type (Methyl Chloroacetate, Ethyl Chloroacetate), by Grade (0.98, Others), by Application (Solvent, Chemical Synthesis, Others), and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) published by Coherent Market Insights.
The global methyl & ethyl chloroacetate market is projected to reach US$ 1,562.8 Mn by 2027, exhibiting a CAGR of 7.9% during the forecast period (2019-2027). The market is expected to witness significant growth over the forecast period, owing to increasing demand for methyl & ethyl chloroacetate from various end-use industries such as pharmaceuticals and personal care & cosmetics.
Methyl chloroacetate is used in the preparation of trimethylammonium (carboxymethyl) chloride esters. Additionally, methyl chloroacetate acts as an extraction solvent during the separation of neutral compounds, while ethyl chloroacetate is used in manufacturing rodenticides, and as military poison.
In the pharmaceutical industry, methyl chloroacetate and ethyl chloroacetate are used as intermediates in the production of drugs. The growing pharmaceutical industry is driving growth of the global methyl & ethyl chloroacetate market. For instance, according to the India Brand Equity Foundation (IBEF), the pharmaceutical industry in India accounted for 2.4% share of the global pharmaceutical industry in 2017, and is expected to grow at a CAGR of 12.8% during 2015 to 2020.
However, stringent regulations imposed by government agencies are projected to hinder growth of the methyl & ethyl chloroacetate market over the forecast period. For instance, according to the Registration, Evaluation, Authorization and Restrictions of Chemicals (REACH), which operates as a chemical regulatory body under the European Chemicals Agency, ethyl chloroacetate is a toxic substance to aquatic life with long lasting effects.
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