The global acid chlorides market is expected to be valued at USD 2,430.9 Million in 2022.
Furthermore, with rising applications in industries like pharmaceutical, agriculture, and cosmetics, the overall sales of acid chlorides are projected to rise at 4.9% CAGR between 2022 and 2032, totaling a market valuation of USD 3,903 Million by the end of 2032.
The frequency of cholesterol and other cardiovascular disorders is on the rise, which is fueling an increase in aspirin demand. Being a key intermediate used in the production of aspirin, the demand for acyl chlorides is witnessing a substantial upsurge.
An acid chloride is an organic compound with the functional group C(O)Cl. It is also known as acyl chloride. Typically, their formula is expressed as RCOCl, where R denotes a side chain. They are volatile carboxylic acid derivatives (RC (=O) OH). About 15 to 20% of carboxylic acid is consumed for the production of acyl chlorides. Acetyl chloride, CH3COCl, is one example of an acyl chloride. The most significant subset of acyl halides is acyl chlorides.
Acid chlorides are formed when carboxylic acid reacts with chloro-compounds such as thionyl chloride, phosphorous chlorides, and a few others. However, on a commercial scale, the product is manufactured by the reaction of acetic anhydride with hydrogen chloride.
Acyl chlorides play a vital role in the production of important medicinal products, including aspirin and acetaminophen, which are used in the treatment of various cardiovascular diseases. Apart from such vital pharmaceutical applications, the product is also utilized in the production of perfumes, flavoring agents, resins, and various other products.
The rising application of acid chlorides in chemical reagents, agrochemicals, plastic & pigments, organic peroxides, and pharmaceuticals is a key factor expected to boost the global market.
Similarly, the growing prevalence of cardiovascular diseases and increasing production and consumption of pharmaceuticals like aspirin is expected to elevate the demand for acid chlorides during the forecast period.
Additionally, rising concerns about food insecurity due to the rapidly growing population and reduction in agricultural land will aid in the expansion of the global market. acid chlorides are being increasingly utilized for the production of agrochemicals. Hence, increasing the consumption of these agrochemicals to improve crop harvest will generate prospects for manufacturers.
| Attribute | Key Insights |
|---|---|
| Acid Chlorides Market Base Value (2021A) | USD 2,326.3 Million |
| Estimated Market Value (2022E) | USD 2,430.9 Million |
| Projected Market Value (2032F) | USD 3,903.5 Million |
| Value-based CAGR (2022 to 2032) | 4.9% |
| Collective Value Share: Top 3 Countries (2022E) | 55.6% |
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The global acid chlorides market witnessed a sluggish CAGR of 2.3% during the historical period from 2017 to 2021 and reached a valuation of 2,420.9 Million at the end of 2021. However, with rising applications of acid chlorides across industries like pharmaceutical, cosmetic, and agrochemical, the overall demand in the market is set to rise at 4.9% CAGR between 2022 and 2032.
In recent years, there has been a spike in diseases like arthritis, atherosclerosis rheumatic fever, and cardiovascular diseases. This in turn has created high demand for pharmaceuticals like aspirin and the trend is expected to continue during the upcoming years. As aspirin uses acid chlorides for its manufacturing, increasing production and consumption of this drug will eventually boost growth in the global acyl chlorides market.
The consumption of acyl chlorides witnessed a relative peak in the pharmaceutical segment as the production lines were shifted for the production of various medicinal products for the treatment and cure of COVID-19 disease.
Similarly, increasing usage of acid chlorides for manufacturing a wide range of agrochemicals, cosmetics, inks, and organic peroxides and the subsequent consumption of these products will fuel sales of acid chlorides over the projection period.
Growing Demand For Agrochemicals Setting New Milestones in the Market
The usage of chemicals to make agrochemical compounds like fungicides and herbicides is emerging as a key factor contributing to the rise in demand for acid chlorides.
Many active compounds with anti-fungal and weed-killing capabilities, including epoxiconazole, flutriafol, metolachlor, and pethoxamid, are produced using chloroacetyl chloride. Such acid chlorides are witnessing high growth opportunities with the robust growth in demand for agrochemicals.
Recent research found that during the previous ten years, much less cropland has been harvested overall. The area used for harvesting crops worldwide decreased by a considerable 1.8% year over year.
Moreover, increasing agricultural output and crop yield has become crucial to meet the growing food demand from the expanding population. Agrochemicals are crucial for increasing agricultural yield and productivity. Agrochemicals like insecticides and fertilizers are used to protect crops from illness and promote plant development.
Due to the decreasing amount of arable land, a greater yield per unit area of agricultural land is thus required. This is what is causing agrochemical and other active reagent sales to soar globally.
Rising Aspirin Usage Bolstering Acid Chloride Sales
Aspirin production is a vital application of various acyl chlorides across the pharmaceutical industry. Aspirin is an important medicinal product used in the treatment of various diseases ranging from simple pain to severe cardiovascular diseases. Additionally, the pharmaceutical sector uses acid chlorides as protective groups and building blocks, like propionyl chloride, pivaloyl chloride, and valeroyl chloride.
Aspirin consumption is continuing to rise as a result of the increasing frequency of cardiovascular disorders like atherosclerosis. Aspirin usage was more common than 30% in the United States by 2019, as per data from the National Center for Biotechnology Information (NCBI) published in 2021. Furthermore, over the next few years, market revenue growth is anticipated to be supported by stable medicine demand.
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Health Hazards Associated With Acid Chlorides Can Dampen The Growth
Acid chlorides are linked to a number of immediate and long-term health risks, which is a significant issue limiting growth in the market. Even at low concentrations, exposure to acetyl chloride mist and fumes has been shown to burn mucosal membranes and harm underlying tissues.
The substance can cause mortality upon contact with air by causing pulmonary edema, and it can also break down into HCl, which severely harms the lungs and other respiratory system tissues. Contact with a chemical in liquid form results in burns to the skin and/or eyes and may possibly cause irreversible eye damage and blindness.
Additionally, problems with the release of acid chloride emissions and effluents are another aspects that are anticipated to significantly slow down revenue development. Since decomposition products and chemical vapors are caustic, ignitable, and reactive, they must adhere to a number of standards and laws.
It is anticipated that regulatory bodies' suggestions for fugitive exposure monitoring systems to reduce the hazardous effects of acid chlorides will increase production costs, which in turn can reduce the market for compounds to a limited extent.
Growing Aspirin Demand Boosting the Demand for Acid Chlorides in the USA
Currently, the USA holds a substantial share of the global market for acid chlorides and it is expected to retain its dominant position during the forecast period. The rising usage of acid chlorides for the production of various pharmaceuticals, cosmetics, and dyes is a key factor pushing demand in the USA market.
Aspirin and other drugs continue to be widely used in the USA, which is one of the main drivers fueling the market's revenue growth. Aspirin use and sales have grown as the prevalence of atherosclerosis and other cardiovascular disorders have increased.
According to surveys, approximately nine million seniors in the USA, who are older than 70, use aspirin for cardiovascular disease primary prevention. Acetyl chloride, which is employed as an acetylating agent in the manufacture of salicylate and other economically significant chemicals, is seeing an increase in demand as a result of this.
Additionally, the use of benzoate plasticizers in building projects is rising, which in turn is expected to create prospects for the USA market.
The rise in Export of Acid Chlorides Driving Demand in the United Kingdom
As per FMI, the United Kingdom market is poised to exhibit a steady CAGR during the forecast period, owing to the rising production and export of acid chlorides, booming pharmaceutical industry, and large presence of leading manufacturers.
Another reason for pushing for up the use of acid chlorides in the United Kingdom is the increased use of benzoyl chloride by pharmaceutical companies to make face washes and gels that cure acne and eliminate bacteria from the skin.
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Benzoyl Chloride Remains the Most Sought-After Product Type
Ethanoyl chloride, propanoyl chloride, butanoyl chloride, benzoyl chloride, chloroacteyl chloride, thionyl chloride, palmitoyl chloride, and others are the different product types under which the worldwide acid chlorides market is segmented. Among these, the benzoyl chloride segment currently holds the largest market share and it is expected to grow at a steady pace during the next ten years.
The demand for benzoyl chloride is rising as a result of the substance's numerous uses in various industries. In the pharmaceutical sector, benzoyl chloride is a component in facial cleansers and gels used to treat acne. Along with acting as an antibacterial and antiseptic, the substance works with potassium hydroxyquinoline sulfate to remove germs from face wash users' skin. This substance is increasingly being employed in the production of fake tannins and fragrances, dyes, and resins.
With a trade value of USD 66 Million in 2021, an increase of almost 20% from the export value is 2020, the European Union was the world's top exporter of benzoyl chlorides and peroxides, according to data from the World Bank. Between 2022 and 2032, the rising adoption of benzoyl chloride for various applications in industries like pharmaceuticals, cosmetics, and dyes & inks is anticipated to boost the market.
Most of the Demand Arise From the Pharmaceutical Sector
Based on end use, the pharmaceuticals segment is anticipated to grow at a higher CAGR during the forecast period from 2022 to 2032. This can be attributed to the rising usage of acid chlorides across the pharmaceutical industry for manufacturing a wide range of medicines.
The production of salicylic acid as well as other increasingly significant medical formulations uses many products based on acid chloride, which is a key element in this segment's revenue growth.
Acetyl chloride is utilized as an intermediary molecule in the production of aspirin, which is frequently used as the primary preventative treatment for cardiovascular illnesses including atherosclerosis. It is also employed in the production of acetaminophen, a drug that lowers fever and eases discomfort from headaches, menstrual cramps, sore throats, immunizations, and muscular pains. The Food and Medication Administration (FDA) has authorized its usage as an active component in drugs, making it the most prevalent drug ingredient in the USA.
The global acyl chloride market is fairly consolidated due to the presence of a substantial number of small and medium-sized local and regional players. Key players are adopting various strategies such as acquisitions, mergers, collaborations, partnerships, and facility expansions to increase their geographic presence and market share.
Some of the recent developments in the market are listed below:
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 2,430.9 Million |
| Projected Market Size (2032) | USD 3,903.5 Million |
| Anticipated Growth Rate (2022 to 2032) | 4.9% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Product Type, Application, End Use, and Region |
| Key Companies Profiled | Altivia; BASF; Novaphene; CABB Chemicals; Orion Chem Pvt. Ltd.; Wilmar International; Transpek Industry Ltd.; VanDeMark Chemical, Inc.; Kuhlmann Europe; R. Drugs and Intermediates Pvt. Ltd.; Twin Lake Chemical Inc.; Shiva Pharmachem Ltd.; Rheinmetall AG |
| Report Coverage |
Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities, and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The global acid chlorides market size is expected to reach USD 2,430.9 Million in 2022.
As per FMI, demand for acid chlorides is anticipated to surge at 4.9% CAGR over the forecast period of 2022 and 2032 in terms of value.
The worldwide acid chlorides industry is expected to surpass a valuation of USD 3,903.5 Million by 2032.
The overall market for acid chlorides grew at 2.3% CAGR between 2017 and 2021.
According to FMI analysis, Altivia, BASF, Novaphene, CABB Chemicals, Orion Chem Pvt. Ltd., Wilmar International, Transpek Industry Ltd., VanDeMark Chemical, Inc., Kuhlmann Europe, R. Drugs and Intermediates Pvt. Ltd., Twin Lake Chemical Inc., Shiva Pharmachem Ltd., Rheinmetall AG, and others are identified as the players operating in acid chlorides industry.
Key players in the global market are expected to account for about 30 to 35% of the overall market share.
The top countries driving demand for acid chlorides include the USA, China, and Germany.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Market Background 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product Type 9.1. Ethanoyl Chloride 9.2. Propanoyl Chloride 9.3. Butanoyl Chloride 9.4. Benzoyl Chloride 9.5. Chloroacetyl Chloride 9.6. Thionyl Chloride 9.7. Palmitoyl Chloride 9.8. Others 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Application 10.1. Chemical Reagents 10.2. Plastic and Pigments 10.3. Organic peroxides 10.4. Agrochemicals 10.5. Pharmaceuticals 10.6. Others 11. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End Use 11.1. Pharmaceuticals 11.2. Agriculture 11.3. Plastics 11.4. Dyes & Inks 11.5. Cosmetics 11.6. Others 12. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 12.1. North America 12.2. Latin America 12.3. Europe 12.4. East Asia 12.5. South Asia Pacific 12.6. Middle East and Africa (MEA) 13. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. South Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032 19. Country-wise Market Analysis 20. Market Structure Analysis 21. Competition Analysis 21.1. Altivia 21.2. BASF 21.3. Novaphene 21.4. CABB Chemicals 21.5. Orion Chem Pvt. Ltd. 21.6. Wilmar International 21.7. Transpek Industry Ltd. 21.8. VanDeMark Chemical, Inc. 21.9. Kuhlmann Europe 21.10. R. Drugs and Intermediates Pvt. Ltd. 21.11. Twin Lake Chemical Inc. 21.12. Shiva Pharmachem Ltd. 21.13. Rheinmetall AG 22. Primary Survey Analysis 23. Assumptions and Acronyms Used 24. Research Methodology
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Acid Chlorides Market
