Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Trifluoroacetic Acid market.
Trusted Business Insights presents an updated and Latest Study on Trifluoroacetic Acid Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Trifluoroacetic Acid market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The report covers forecast and analysis for the trifluoroacetic acid market on a global and regional level. The study provides historical data from 2015 to 2020 along with a forecast from 2021 to 2026 based on volume (Kilo Tons) and revenue (USD Million). The study includes drivers and restraints for the trifluoroacetic acid market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the trifluoroacetic acid market on a global as well as regional level.
As per the report, the global demand for trifluoroacetic acid market was valued at approximately USD 274.98 million in 2018 and is expected to generate revenue of around USD 371.03 million by end of 2025, growing at a CAGR of around 4.4% between 2019 and 2025.
Trifluoroacetic is a colorless liquid having pungent odor. It is an organofluorine compound that is used in various medical and pesticide intermediates. It is a widely used chemical and is categorized under the bulk chemicals category. It is derived from acetic acid and is a conjugate acid of trifluoroacetate. It also acts as a reagent in organic synthesis and it is the precursor for many chemical products owing to the high strength, volatility, high dielectric constant, low boiling point, and solubility in many solvents. Trifluoroacetic acid is one of the most stable carboxylic acid and is significantly acidic than acetic acid. Many chemical reactions such as oxidations, reductions, rearrangements, functional group deprotections, hydroarylation, etc. require trifluoroacetic acid.
The growth of the chemical industry across the globe is expected to be the major driving factor for the growth of the global trifluoroacetic acid market. The global chemical market grew up by 2.7%, while it registered 3.4% growth in the emerging economies in 2018. Rise in the manufacturing activities in emerging economies such as China and India is expected to be a major growth driver for the global trifluoroacetic acid market growth. China accounted for over 60% of the global chemical market growth and it is also the largest market in terms of market share. Hence, several global players have established plants and facilities in China in order to develop their business. Low labor cost and lesser regulations are the major factors driving the expansion of global market. However, environmental concerns regarding the manufacture and use of trifluoroacetic acid owing to its non-biodegradable nature is expected to be a major restraining factor for the growth of the market. Trifluoroacetic acid is widely used in the pharmaceutical and agriculture industries as intermediates. Growth of these sectors is expected to provide ample growth opportunities for the key players operating in the global trifluoroacetic acid market.
The global trifluoroacetic acid market is segmented based on application, end-user, and region. Based on application, the global trifluoroacetic acid market is segmented into solvents, rearrangements, protecting group removal, oxidations, reductions, condensations, and others. Based on end-user, the market is segmented into agriculture, pharmaceuticals, and others. Pharmaceuticals industry accounted for a larger share of the market in 2018. It is used in the substitution reaction of various organic compounds used to make various pharmaceuticals.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific was the dominant region in the global trifluoroacetic acid market in 2018. Large chemical manufacturing sector in China is expected to be the major driving factor for the growth of the trifluoroacetic acid market in the region. Moreover, the pharmaceutical industry in China and India has also been witnessing growth in the recent years.
Some of the key players operating in the global trifluoroacetic acid market include Solvay, Halocarbon, SRF, Sinochem, Bluestar, Shandong Xingfu, Zhenfu New Materials, Nantong Baokai, and Anhui Jinao, among others.
Protecting Group Removal
Middle East and Africa
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