Diethyl Acetoacetamide Market size is anticipated to cross USD 270 million by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of diethyl acetoacetamide was over USD 157 million. 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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~6% |
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Base Year Market Size (2022) |
~ USD 157 Million |
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Forecast Year Market Size (2033) |
~ USD 270 Million |
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Regional Scope |
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Application (Insecticides, Pesticides, Pigment Manufacturing)
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.
End-user (Paint & Coating, Plastic & Textile, Paper & Pulp, Agriculture)
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 market includes the following segments:
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By Purity |
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By Application |
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By End User Industry |
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APAC Market Statistics
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.
North American Market Forecast
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.
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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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