Palmitoyl Chloride Market expected to Witness a Sustainable Growth over 2030

Palmitoyl Chloride Market: an Overview and Dynamics

Palmitoyl chloride is colorless liquid chemical compound with string odor. Palmitoyl chloride is also known as hexadecanoyl chloride, palmitic chloride and palmitic acid. Efficacy to act as an intermediate, palmitoyl chloride is emerged as an ideal ingredient in pharmaceutical industry. Palmitoyl chloride is used as an organic synthesis chemical to prepare antibiotics such as chloramphenicol hexadecane carbonate and odorless chloramphenicol. Rapid growth of pharmaceutical industry has driven the consumption of palmitoyl chloride during the historical period (2015-2019) and poised to lead the global consumption accounting for over one fourth of the total market share by 2030. Attributed to aforementioned facts and scenario, global palmitoyl chloride market is poised to expand at CAGR of ~3% during the forecast period (2022-2030)

On the basis of application, palmitoyl chloride is mostly used as in intermediate in organic synthesis of pharmaceutical drugs. Pharmaceutical is poised to remain largest consumer of palmitoyl chloride during the forecast period. Global pharmaceutical industry is projected to experience growth rate of 4% during the forecast period surpassing market valuation of US $ 1.5 Trillion by the midterm forecast. After pharmaceutical industry, cosmetic is the second largest user of palmitoyl chloride and is set to expand along with the global cosmetic industry. Global cosmetic industry has experienced significant growth in recent years and is poised to embark on a positive trajectory registering a growth rate of 5% during the forecast period. Further growing consumption from other applications such as pesticides and surfactants are set to result in additional demand for palmitoyl chloride creating significant opportunities for market suppliers.

To remain ‘ahead’ of your competitors, request for a sample – https://www.factmr.com/connectus/sample?flag=S&rep_id=5046

COVID Impact Insights

The spread of the coronavirus has nearly forced all countries to impose lockdowns and strict social distancing measures which has disrupted every industry and market so the palmitoyl chloride market across the globe. As per UN stats global economy is estimated to suffer billion dollars of loss in 2020. The coronavirus pandemic has generated massive disruptions in the demand-supply equation across multiple industries, causing a global economic meltdown. However, rising corona cases have declined sales of other medicines owing to increased health awareness among people. Also, deaths by other factors like accidents and deaths caused during operation treatments has been declined worldwide ultimately hampering the palmitoyl chloride market. But, conventional demand for palmitoyl chloride has maintained its sales during pandemic. Halted import export between borders may create impediments in supply chain resulting huge loss for palmitoyl chloride suppliers in year 2020

Segmentation Analysis of Palmitoyl Chloride Market:

The global palmitoyl chloride market is bifurcated into three major segments: purity, application, and region.

On the basis of purity, palmitoyl chloride market has been segmented as follows:

• Less than 98%
• More than 99%
• Others

On the basis of application, palmitoyl chloride market has been segmented as follows:

• Cosmetic
• Pesticides
• Pharmaceutical
• Surfactants
• Others

On the basis of geographic regions, palmitoyl chloride market is segmented as

• North America
• Europe
• Latin America
• East Asia
• South Asia and Oceania
• Middle East & Africa

To receive extensive list of important regions & key players, ask for TOC here- https://www.factmr.com/connectus/sample?flag=T&rep_id=5046

Palmitoyl Chloride Market: Regional Outlook

The report on the global palmitoyl chloride market covers six major regions that include North America, Europe, Latin America, East Asia, South Asia & Oceania, and MEA. United States has been remained the largest consumer of palmitoyl chloride during the historical period and is set to reign its supremacy over the forecast period. The growth is attributed to huge presence of pharmaceutical and cosmetic industry in the region. United States being the largest pharmaceutical importer and one of the key exporter with an import valuation of over US$ 99 Bn in 2019 is set to drive the global palmitoyl chloride market. On the back of United States, North America is projected to lead the demand for palmitoyl chloride accounting for over third of the global demand. However, China is emerging as global hub for pharmaceutical production and India is set to experience high growth rate. Both the countries are poised to emerge highly lucrative pockets by the end of forecast period.

Palmitoyl Chloride Market: Key Players.

Global palmitoyl chloride market is highly consolidated in nature in which top six prominent company’s accounts for over half of the global production and sales. Currently, BASF, Shiva Pharmachem Ltd., Rudong Lianfeng Chemical industry Co., Ltd, Haihang Industry Co.,Ltd and Santa Cruz Biotechnology, Inc. are the key stakeholders in global palmitoyl chloride market.

Pre Book now to get Free Customization in the Report – https://www.factmr.com/checkout/5046/S

About Fact.MR

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. We have offices in US and Dublin, whereas our global headquarter is in Dubai. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Reach out to us with your goals, and we’ll be an able research partner.

Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates