Diethyl Acetoacetamide Market Analysis by Purity (>98%, 98% - 95%, and <95%); by Application (Insecticides, Pesticides, and Pigment Manufacturing); and by End-User Industry (Paint & Coating, Plastic & Textile, Paper & Pulp, Agriculture, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
Buy Now Report ID: 4086 | Published Date: Mar 30, 2023
The global diethyl acetoacetamide market is estimated to garner a revenue of USD 270 Million by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 157 Million in the year 2022. The growth of the market can be attributed to the increasing agricultural land as well as the rising use of insecticides across the world. In the U.S. more than 50% of the land base is used for agricultural production as of 2021. Also, the increasing use of chemical pigments for coloring is anticipated to drive market growth in the coming years. The increasing population around the world is rising the demand for food crops productivity and manufacturing of various disease control pesticides which in turn are estimated to drive the market growth.
The escalating chemical sector growth with increasing manufacturing of different chemicals is estimated to increase the market growth. The increasing application of the paper industry is also estimated to drive market growth. The increasing number of institutions, the financial and law sectors is propelling the use of paper across the world. The global value of the educational services sector in the year 2023 was worth more than USD 2 trillion as per the estimations. The diethylacetoacetamide is the intermediate in the manufacturing of various pigments which are used in paints, coatings, and other sectors that need color and are estimated to drive market growth as per the market analysis.
|
Base Year |
2022 |
|
Forecast Year |
2023-2033 |
|
CAGR |
~6% |
|
Base Year Market Size (2022) |
~ USD 157 Million |
|
Forecast Year Market Size (2033) |
~ USD 270 Million |
|
Regional Scope |
|
Growth Drivers
Challenges
The harmful effects of diethyl acetoacetamide cause skin, and eye irritation, may affect the respiratory tract when exposed too long, and may also cause central nervous system disorders and hepatotoxicity affecting the liver. These side effects are estimated to hamper the market growth in the coming years.
The global diethyl acetoacetamide market is segmented and analyzed for demand and supply by application into insecticides, pesticides, and pigment manufacturing. Out of the three segments, the pigment manufacturing segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing utilization of pigments in the textile industry in the coming years. The textile sector worldwide was worth over USD 550 billion in the year 2022 and reached more than USD 600 billion in 2023 as per the reports. The growing application of pigments in the paint and coating industry is rising with the increasing construction sector and renovations across the world. Also, the increasing number of paper industries owing to the adoption of paper packaging is rising the application of pigments in the coming years. All these factors are estimated to have a positive impact on the growth of the market during the forecast period.
The global diethyl acetoacetamide market is also segmented and analyzed for demand and supply by end-user into paint & coating, plastic & textile, paper & pulp, agriculture, and others. Amongst these segments, the paper & pulp segment is expected to garner a significant share. The increasing number of educational institutions and rising number of hospitals are estimated to drive the market of the paper industry. The growth of the pulp and paper industry across the world is attributed to the increasing use of tissue paper, toilet paper, paper rolls, printing, and writing paper.The rising utilization of paper in the packaging industry is also driving market growth in the coming years. The rising preference for sustainable products and goods is also anticipated to boost market growth during the forecast period. The United States is the first-largest producer and second-largest consumer of paper with the use of more than 60 million metric tons in 2020.
Our in-depth analysis of the global diethyl acetoacetamide market includes the following segments:
|
By Purity |
|
|
By Application |
|
|
By End User Industry |
|
The Asia Pacific diethyl acetoacetamide market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market can be attributed majorly to the convenient availability of raw materials, the growing agriculture sector, and the increasing investment of major companies. Based on data presented by the World Bank in 2018, 2,705,488 sq. km of agricultural land was found available alone in South Asia, meanwhile, 47.4% of land in East Asia and the Pacific was being utilized for agricultural activities. The increasing utilization of chemicals for the manufacturing of paints, coatings, paper, and pulp industry is estimated to drive market growth in the coming years in this region. The growing number of textile industries is also anticipated to propel the growth of the market in the future.
Furthermore, the global diethyl acetoacetamide market is also projected to hold a remarkable share in North America region on the back of rising demand for weed removal chemicals and insecticides over the forecast period. Additionally, growing investment in other industries, such as paint & coating, paper & pulp, and plastic & textile is also anticipated to influence the growth of the market positively during the forecast period. As per a report published by the United States Geological Survey (USGS) about 1 billion pounds of pesticides are utilized in the USA annually to put a stop to weeds, pests, and insects. Such factors are forecasted to boost the growth of the market throughout the forecast period in this region.
March 2023: Sun Chemical Group Cooperatief U.A. introduced new effect pigments that highlight the natural colorants and ingredients to make them sustainable solutions for the beauty sector.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: Growing demand for pesticides worldwide, rising requirements for weed removal substances, and high utilization in pigment production are the major factors driving the growth of the diethyl acetoacetamide market.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 – 2033.
Ans: The presence of alternative chemicals in the market and rising harmful effects on the environment and mankind are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.
Ans: The major players in the market are Alkyl Amines Chemical Limited, Parchem fine & specialty chemical, TCI Chemical (India) Pvt. Ltd., Alpha Chemical Private Limited, Hangzhou Hairui Chemical Industry Co., Ltd., Eastman Chemical Company, Jiangsu SOPO (Group) co., Ltd., IOL Chemicals and Pharmaceuticals Limited (IOLCP), Jiangsu Baichuan High-tech New Materials Co., Ltd., Godavari Biorefineries Limited, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by purity, application, end-user industry, and by region.
Ans: The paper & pulp segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Submit Your Request For Proposal (RFP)
