According to Future Market Insights, the global market of 3,3-dimethylacrylic acid methyl ester is projected to expand at a moderate growth rate of 4.2% during the forecast period. The market value is expected to grow from USD 34,140.5 thousand in 2023 to USD 51,327.8 thousand by 2033. Substantial growth in chemical industry is aiding the market growth.
| Attributes | Details |
|---|---|
| 3,3-Dimethylacrylic Acid Methyl Ester Market Size (2023) | USD 34,140.5 Thousand |
| Forecasted Market Size (2033) | USD 51,327.8 Thousand |
| Value CAGR (2023 to 2033) | 4.2% |
| Collective Value Share: Top 5 Countries (2023E) | 60 to 65% |
3,3-Dimethylacrylic acid methyl ester is a colorless liquid used as a raw material and intermediate for the production of various organic compounds including piroctone olamine. It is used in the production of washing and chemical products along with pharmaceutical intermediates.
This organic chemical is further used as an intermediate in the manufacturing of pesticides and other agrochemicals. 3,3-Dimethylacrylic Acid Methyl Ester is significantly used in laboratories for scientific research and a fair share of the overall consumption is used in commercial applications.
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From 2018 to 2022, the market grew with a sluggish CAGR of 2.0%. Although from 2022 onwards, the demand and production of 3,3-dimethylacrylic acid methyl ester are set to rise owing to various sets of development witnessed by end-use industries.
The market is projected to expand at a steady CAGR of 4.2% in the forecast period of 2023 to 2033. Significant increases in the demand for raw materials and intermediates from numerous end-use industries to propel the CAGR over the forecast period. This can create lucrative growth opportunities for the manufacturers operating in the market.
3,3-Dimethylacrylic Acid Methyl Ester is also used in the production of anti-dandruff shampoos as an intermediate, substantial growth in the demand for shampoos is also expected to create growth opportunities for the market of 3,3-Dimethylacrylic Acid Methyl Ester.
The demand for organic and specialty chemicals is increasing significantly due to the growing demand for the production of drugs, medicines, pesticides, and other chemicals. 3,3-Dimethylacrylic acid methyl ester is used as a base material for producing organic chemicals and pesticides. The growing need for intermediates in the chemical industry for making pesticides, dyes, and certain organic chemicals is expected to boost the market for 3,3-dimethylacrylic acid methyl ester.
The demand for 3,3-dimethylacrylic acid methyl ester is expected to grow due to its use as a lab reagent and increased investment in R&D. Investment by manufacturers, organizations, and institutions in finding new applications for the chemical and improving production processes is also expected to increase demand for it in the future.
The pharmaceutical industry is experiencing substantial growth globally due to the high demand for medicine and drugs. There has been an increase in the consumption of various medicinal drugs and APIs in recent years. As the pharmaceutical industry grows, there is also an increase in demand for organic chemicals, solvents, raw materials, and intermediates.
Additionally, advancements in the healthcare industry and the discovery of new medicines are contributing to the growth of the 3,3-Dimethylacrylic Acid Methyl Ester market.
Governments and regulatory organizations are becoming stricter with their environmental regulations regarding the production and use of hazardous chemicals. Companies are required to adhere to these standards, including proper disposal of waste from chemical production. This increased regulation is having a negative effect on the growth of the 3,3-Dimethylacrylic Acid Methyl Ester market because the substance is flammable. Additionally, restrictions on raw material supplies in few regions may disrupt the supply chain, potentially restricting the growth of the organic chemicals market.
The level of purity in manufactured chemicals must meet quality control regulations. Different manufacturing processes and products require different levels of purity of raw materials. 3,3-dimethylacrylic acid methyl ester with a purity of 98% or less is used in organic chemical synthesis, agrochemical manufacturing, and other chemical production. On the other hand, 3,3-dimethylacrylic acid methyl ester with a purity level above 98% is used in pharmaceutical and drug manufacturing, organic chemical production, and as a laboratory chemical.
In the forecast period, several developments in the manufacturing sector to obtain the purest form of this organic ester will bolster the market for the >98% purity segment. According to FMI analysis, the segment will grow with a significant CAGR and capture close to 90% of the global market.
Based on the applications, the chemical reagent segment is anticipated to hold dominant share of the market. The usage of 3,3-dimethylacrylic acid methyl ester as a laboratory reagent for analysing different chemicals and synthesis reactants for lab-scale production of organic compounds is expected to spur the demand.
As per the FMI analysis, the chemical reagent segment is expected to hold an absolute dollar opportunity of 10,800.0 thousand from 2023 to 2033.
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| Country | United States |
|---|---|
| Market Share (2023) | 16.1% |
| Market Share (2033) | 15.8% |
| BPS Analysis | -30 |
| Country | China |
|---|---|
| Market Share (2023) | 31.4% |
| Market Share (2033) | 32.9% |
| BPS Analysis | +150 |
| Country | Germany |
|---|---|
| Market Share (2023) | 3.4% |
| Market Share (2033) | 3.4% |
| BPS Analysis | -0 |
| Country | Japan |
|---|---|
| Market Share (2023) | 6.2% |
| Market Share (2033) | 6.0% |
| BPS Analysis | -20 |
| Country | India |
|---|---|
| Market Share (2023) | 4.9% |
| Market Share (2033) | 5.3% |
| BPS Analysis | +40 |
China is a leading chemical supplier due to its abundant raw materials, favourable government policies, large labour force, economies of scale, and strong infrastructure. The country also has a well-developed infrastructure, including transportation and energy systems, which supports the production and distribution of chemicals, making it a highly competitive player in the global market.
In the developing market of 3,3-dimethylacrylic acid methyl ester, China has established itself as a leading supplier to the global market owing to the above-mentioned strategies. Presently Chinese manufacturers account for 75% of the East Asian market and its market size is expected to expand at a considerable growth rate of 4.7% during the forecast period.
The United States is a leading player in the global pharmaceutical industry and holds a significant share of the worldwide market for prescription drug spending. On a per capita basis, the USA accounts for anywhere between 30 to 40 percent of total global spending on prescription drugs. The country is home to many of the world's top pharmaceutical companies, which are continually investing in research and development of new drug formulations. These investments and innovations are projected to drive growth in the market in the coming years.
Key players in the 3,3-dimethylacrylic acid methyl ester market acquire a prominent share making it fairly consolidated among themselves. Certain leading players in the market of 3,3-dimethylacrylic acid methyl ester are focusing on the expansion of their production capacities by manufacturing the compound at pilot scales.
For instance, in June 2021, Hangzhou Longshine Bio-Tech Co., Ltd started supplying 3,3 Dimethyl acrylic acid methyl ester for making Piroctone Olamine, pharmaceutical intermediates, and chemical products.
Further, to increase their worldwide reach, several manufacturers are working on improving their supply chain and building relationships with end-users. This is being done by offering 3,3-dimethylacrylic acid methyl ester through contract manufacturing, in order to increase their profits. Currently, the market is dominated by Chinese companies, who are mostly based in China and offer products through contract manufacturing. The market is yet to be fully tapped into and no significant product-related advancements or activities have been noticed in recent times.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.2% from 2023 to 2033 |
| Base Year for Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USA Dollar Thousand, Volume in Tons, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Market Segments Covered | Purity, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia; South Asia and Pacific; Russia & Belarus; Middle East and Africa |
| Key Countries Covered | United States, Canada, Mexico, Brazil, China, Japan, South Korea, India, Association of South East Asian Nations, Australia and New Zealand, Germany, France, Italy, Spain, BENELUX, NORDIC Countries, United Kingdom, Poland, Hungary, Czech Republic, Romania, Gulf Cooperation Council Countries, Türkiye, Northern Africa, South Africa |
| Key Companies Profiled | WeylChem International GmbH; Qingdao Bangli Chemcial Co., Ltd.; Shandong Xinhua Pharma; Hefei TNJ Chemical Industry Co., Ltd.; Gansu Zeyou New Material Co., Ltd.; Dayang chem (Hangzhou) Co., Ltd.; Hunan Huateng Pharmaceutical Co., Ltd; Vortex Product limited; Spectrum chemical mfg. corp.; Innopharm chem; TCI Chemicals India Pvt. Ltd.; Synerzine, Inc. |
| Customization and Pricing | Available upon Request |
The 3,3-dimethylacryclic acid ester methyl market is worth USD 34,140.5 thousand in 2023.
The 3,3-dimethylacryclic acid ester methyl market is anticipated to be worth USD 51,327.8 thousand by 2033.
The top 5 countries occupy nearly 60% to 65% of the market collective value share.
India holds nearly 5.3% of the market share in 2023.
China is anticipated to occupy nearly 32.9% of the market share by 2033.
| Estimated Size, 2024 | USD 11,983 million |
|---|---|
| Projected Size, 2034 | USD 18,203.4 million |
| Value-based CAGR (2024 to 2034) | 4.3% |
| Expected Market Value in 2023 | USD 94.19 billion |
|---|---|
| Expected Market Value in 2033 | USD 159.36 billion |
| Value-based CAGR from 2023 to 2033 | 5.4% |
| Market Valuation (2023) | USD 3.9 billion |
|---|---|
| Market Valuation (2033) | USD 6.1 billion |
| Market CAGR (2023 to 2033) | 4.6% |
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