Diethyl Oxalate Market Expected to Reach US$165,685.8
New York, May 26, 2022 (GLOBE NEWSWIRE) — The global diethyl oxalate market is expected to witness a growth rate of 4.9% from 2022 to 2032. The growth of the market is attributed to the growing demand from manufacturers of pigments and dyes and pharmaceuticals.
Diethyl oxalate is an organic compound with colorless characteristics. It is the dimethyl ester of oxalic acid. Diethyl oxalate is used to manufacture active pharmaceutical ingredients (APIs), polymers and intermediates for dyes. It is also used as a solvent to make esters, resins, perfumes and electronic lacquers.
Dyes and solvents are expected to remain the major application areas for diethyl oxalate due to the substantial production of pigments and dyes across the world. Also, the growing demand for generic and over-the-counter drugs is expected to propel the demand for diethyl oxalate owing to the increase in the consumption of these pharmaceutical drugs in the daily lifestyle.
The increase in population has led to increased demand for food, which is expected to boost the demand for agrochemicals for higher yield, thus increasing the demand for diethyl oxalate in the near future.
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Key points to remember market research
- The global diethyl oxalate market is estimated to reach a value of US$165,685.8 by the end of 2032.
- The liquid segment is estimated to experience a CAGR of 4.8 during the assessment period 2022-2032.
- Dyes are estimated to remain a key application for diethyl oxalate, and the segment is expected to witness a growth rate of 5.7% during the forecast period.
- North America is expected to create an additional US$10.7 trillion dollar opportunity over the forecast period.
- By end-use industry, the plastics and polymers segment is expected to experience a CAGR of 5% over the decade.
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“Major players in the market are investing a fair share of their revenue in research and development to investigate new applications of diethyl oxalate as the market is still in its early stages of development,” says a PersiStence Market Research Analyst.
The global diethyl oxalate market has been identified as a fragmented space owing to a large number of players across the globe.
Major players invest a significant portion of their revenue in R&D to study new applications of diethyl oxalate. The market is currently in a stagnant state with no key activity such as expansions, acquisitions or collaborations being observed. The market is still in its infancy and has not yet reached the point where mass marketing is feasible.
There are several potential applications for this chemical, but low consumer/end-user awareness and availability of substitutes are significant hurdles that must be overcome before its widespread use. Despite these hurdles, there is a lot of potential for this chemical to have a big impact in the future.
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Due to increased demand from various end-use industries such as plastics and polymers, pharmaceuticals, pigments and dyes, and many others, the market is expected to grow at a steady pace, especially in East Asia and South Asia Pacific.
In terms of customer base, innovation, and geopolitical conditions, East Asia and South Asia Pacific are very different. Due to the growth of end-use sectors, the diethyl oxalate markets in India, China and ASEAN countries are expected to gain momentum soon.
Mmore valuable information available
Persistence Market Research, a research and advisory firm, has published a new market research report on the global diethyl oxalate market which contains 2017-2021 industry analysis and opportunity assessment for 2022-2032.
The report provides an in-depth analysis of the market across different segments i.e. product form, application, end-use industry and region. The report also provides supply and demand trends along with an overview of the parent market.
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