Neodecanoyl Chloride Market: Overview and Dynamics
Neodecanoyl chloride is colorless liquid with pungent odor and is primarily used as an intermediate to produce organic peroxide initiators. Neodecanoyl chloride is also known as neodecanoic chloride.
Neodecanoyl chloride being key ingredient in production of organic peroxides is set to grow in line with the organic peroxides market growth. Organic peroxides are essential chemicals which are used to produce various kinds of polymers like polystyrene, and polyvinyl chloride (PVC).
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In last decade, polyvinyl chloride has become material of choice in range of applications including but not limited to automobile, electronics, healthcare, building and construction. Demand for organic peroxides are set to grow on the back of PVC market which will create significant demand for organic peroxides thus for neodecanoyl chloride.
Attributed to neodecanoyl chloride’s ability to act as an intermediate and chemical reagent, neodecanoyl chloride has become ideal ingredient in agrochemical and pharmaceutical industries.
Growth of pharmaceutical industry has driven the consumption of neodecanoyl chloride’s during the historical period (2015-2019) and is poised to lead the global consumption accounting for over one third of the global market share by 2030. Apart from this neodecanoyl chloride is highly consumed as organic peroxides in composite products like fiberglass.
Attributed to aforementioned facts and scenarios, global neodecanoyl chloride market is poised to expand at a low single digit CAGR during the forecast period (2020-2030). However, presence of numerous substitutes like octanoyl chloride (OTCL) and pivaloyl chloride may impact its demand in the long term forecast.
COVID Impact Insights
Coronavirus outbreak has pushed global economy in all-time great recession. The spread of the coronavirus has not only forced people to remain in their homes but also caused millions of fatalities in the world.
Fear of coronavirus outbreak and in order to prevent its further spreading almost every government has imposed strict measures like lockdowns and strict social distancing which has disrupted every industry and market so the neodecanoyl chloride market across the globe.
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As per UN stats, global economy is estimated to suffer billion dollars of loss in 2023. The coronavirus pandemic has generated massive disruptions in the demand-supply equation across multiple industries, causing a global economic meltdown. However, coronavirus has less impact over agrochemical and pharmaceutical industry as compared to other industries.
Further, fast rebound in these markets have stabilized the demand for neodecanoyl chloride in third quarter. But other affected end use industries like PVC and decreased demand for chemical reagents and organic peroxides have hampered the neodecanoyl chloride’s demand in second and third quarter which may remain same till market recovers from recession.
Segmentation Analysis of Neodecanoyl Chloride Market:
The global neodecanoyl chloride market is bifurcated into application and region.
On the basis of application, neodecanoyl chloride market has been segmented as follows:
- Agrochemical Production
- Chemical Reagents
- Organic Peroxides
- Organic Synthesis
- Pharmaceutical Production
On the basis of geographic regions, neodecanoyl chloride market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
The Neodecanoyl Chloride Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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