Report : Diethyl Oxalate Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Application (Perfume and Fragrances, Manufacturing of Dyestuff's, Pharmaceutical Intermediate, Plasticizers, and Others), End Use Industry (Pharmaceuticals, Agricultural, Chemical Plastics and Polymer, Cosmetics, and Others), and Form (Liquid and Powder)
Tremendous Growth of Pharmaceutical Industry Likely to Escalate Diethyl Oxalate Market Growth at 7.0% CAGR during 2019–2027
According to our latest market study on "Global Diethyl Oxalate Market Forecast to 2027 – Covid-19 Impact and Global Analysis – by Application (Perfume and Fragrances, Manufacturing of Dyestuff's, Pharmaceutical Intermediate, Plasticizers, and Others), End Use Industry (Pharmaceuticals, Agricultural, Chemical Plastics and Polymer, Cosmetics, and Others), and Form (Liquid and Powder)," the market was valued at US$ 521.23 million in 2019 and is projected to reach US$ 891.93 million by 2027; it is expected to grow at a CAGR of 7.0% from 2019 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Diethyl oxalate (C6H10O4) is also referred as oxalic acid diethyl ester, ethanedioic acid, diethyl ethanedioate, and others. It is a white solid compound synthesized from carbon monoxide and ethanol. It is slightly denser than water and is insoluble in water. Diethyl oxalate is available in the powder and liquid forms. It is a colorless, toxic compound with a characteristic odor. It has significant applications in various end-user industries such as pharmaceuticals, agriculture, and cosmetics. The compound is majorly utilized as a raw material or intermediate in the manufacturing of phenobarbital and numerous dyes; it is also used as a solvent for natural and synthetic resins as well as in nitrocellulose lacquers and various chemical synthesis processes. Further, it is used as a chemical intermediate in the synthesis of active pharmaceutical ingredients. Diethyl oxalate is also used as a cost-effective additive based in the dye-sensitized solar cells.
Diethyl oxalate is used in the production of agrochemicals such as pesticides, fungicides, and herbicides. The developments in agricultural practices have led to a rise in agrochemicals production, and this has fueled the expansion of diethyl oxalate market. The explosive growth of population growth that leads to greater demands for food, increasing technological advancement in the agricultural industry, limited availability of arable land, and advances in plant breeding and management expertise are the factors leading to the elevated use of agrochemicals.
Borsodchem MCHZ, S.R.O., Nanjing Chengyi Chemical Co., Ltd., Indian Oxalate Limited, Shandong Liangzou Mining Industry Group, Merck KgaA, Mudanjiang Hongli Chemicals, Tokyo Chemical Industry Co., Ltd., UBE INDUSTRIES, LTD., Vertellus Holdings LLC, and Zibo Xusheng Chemical Co., Ltd are among the well-established players in the global diethyl oxalate market.
Impact of COVID-19 Pandemic on Diethyl Oxalate Market
The COVID-19 pandemic, which was first reported in Wuhan (China) in December 2019, has affected economies and industries due to imposed lockdowns and travel bans, and business shutdowns. Chemical and materials is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. This is further projected to impact the demand for diethyl oxalate products globally.
The report includes the segmentation of the global diethyl oxalate market as follows:
By End Use Industry