Diethyl Acetoacetamide Market Trends

Growth Drivers

• Escalating Demand for Pesticides Across the Globe – The rising number of diseases for agricultural plants is estimated to drive market growth across the world. The increasing demand for food crops with a rising population worldwide is driving market growth across the world. The demand for pesticides and insecticides to improve crop productivity was also anticipated to increase the market growth. The worldwide use of pesticides was estimated to raise to reach more than 3.5 million tonnes by 2020.
• Increasing Requirements for Weed Removal Substances – The increasing consumption of herbicides for agriculture worldwide in the year 2020 was estimated to be more than 1300 thousand metric tons.
• High Utilization in Pigment Production with Rising Construction Sector – The value of pigments and dyes in the year 2022 across the world was worth more than USD 35 billion across the world.
• Significant Need in Multiple Industries, Such as Paint & Coating, Plastic & Textile, Paper & Pulp – In the year 1975, the number of textile fibers produced was over 23 million metric tons and was increased to more than 110 million metric tons in the year 2021.  

Challenges

• Availability of Alternative Chemicals in the Market
• Rising Harmful Effects on the Environment and Mankind - 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.
• Requirement of Skilled Personnel to Handle