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
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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Browse 32 market data tables* and 20 figures* on "Methyl & Ethyl Chloroacetate Market” - Global forecast to 2027.
Key Takeaways of the Market:
- Based on grade, methyl & ethyl chloroacetate market is segregated into 0.98 and others segment. Among grade, 0.98 segment contributed for approximately 52.0% of the revenue share in the global methyl & ethyl chloroacetate market in 2018. The segment growth is driven by increasing applications of 0.980 grade in manufacturing of chemicals such as (carboxymethyl) trimethylammonium chloride esters for various end-use applications such as paints, coatings, and glues as a volatile toxic solvent.
- Based on application, chemical synthesis segment held the largest revenue in 2018 in the global methyl & ethyl chloroacetate market. The segment growth is driven by increasing application of methyl & ethyl chloroacetate in formulation of octakis-(carbethoxymethoxy) calix arene and synthesis of dimethyl carbonate in the chemical industry. According to Business Standard’s report published on chemical industry in October 2018, India’s chemical industry was valued at US$ 163 billion in 2018, and is expected to reach US$ 304 billion by the end of 2025, growing at CAGR of 9.0% during 2018 to 2025. The chemical industry growth is likely to be driven by increasing demand in end-use segments for petrochemicals and specialty chemical intermediates.
- Major players operating in the global methyl & ethyl chloroacetate market are Wuxi Yangshi Chemical, Changzhou Wujin Changshen Chemical Co., Ltd., ChemChina, Anugrah In-Org Pvt Ltd., Jiangsu Xin Run Chemical, Shreyans Chemicals, Urmi Chemicals, Wujiang Qingyun Zhengdong Chemical Co. Ltd., CABB Chemicals, and Jinan Finer Chemical Co. Ltd.