Global Diethyl Oxalate Market: Definition & Introduction
Diethyl oxalate is a white solid compound synthesized from ethanol and carbon monoxide compounds, having molecular formulae C6H10O4. Diethyl Oxalate is used as an intermediate/ raw material for the various manufacturing process. Diethyl oxalate is also referred as ethanedioic acid, oxalic acid diethyl ester and, others. Diethyl oxalate comes in powder as well as in liquid form. It acts as a solvent for synthetic and natural resin. Exceptional properties of diethyl oxalate include better solubility in water, a toxic compound, having a characteristic odor and a colorless compound, among others. In term of applications, diethyl oxalate utilizes as a solvent in nitrocellulose lacquers, used as intermediate in the production of phenobarbital and numerous dyes, in chemical synthesis, and others.
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Global Diethyl Oxalate Market: Dynamics
Since 2008, rapidly growing industrial activities have raised the demand of solvents and intermediates for numerous end-use industry application such as paints and coatings, pharmaceuticals, cosmetics, petrochemicals, etc. at a global level. This will positively impact on the global diethyl oxalate market over in the next few years as diethyl oxalate has a wide range of applications in the end-user industry production which in turn is expected to drive the diethyl oxalate market during the forecast period. The demand for diethyl oxalate is directly linked to end-use industry production. The on-going trend among chemical, pharmaceutical, dye, cosmetics industries is some of the factors to drive the global diethyl oxalate market. The risk for workers owing to its toxicity and the regulatory norms, complexity in manufacturing instability are the factors hampering the growth of diethyl oxalate in the global market. Demographic changes across the globe generate the pharmaceutical industry demand across the globe in the next few years. Moreover, industrialization and globalization cause the chemical industry demand which will create new highlights in global diethyl oxalate market throughout the forecast period. Sustainability is the trend for the global diethyl oxalate market. Recent trends have shown the major use of these solvents in various other firms like dye, agricultural, chemical, pharmaceuticals, and cosmetics manufacturing. Also, from past decades, end-use industries are achieving new heights by participating in expansion projects, primarily through acquisition across the globe. Applications through semiconductors and electronic components has also been instrumental in driving the Diethyl Oxalate market to a considerable extent. As a result, this will create opportunities for diethyl oxalate market throughout the forecast period.
Global Diethyl Oxalate Market: Segmentation
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Global Diethyl Oxalate Market: Regional Outlook
On the basis of geography, global diethyl oxalate market segmented into nine key regions like North America, Latin America, Middle East & Africa, Eastern Europe, Western Europe, Asia Pacific, China, Japan, and India. China is projected to be a major source and contributor in the diethyl oxalate market across the globe. Owing to rapid industrialization, high economic growth rate, and rising diethyl oxalate-based application in the South East Asia Pacific, the market for diethyl oxalate is projected to grow. Further, North America and Europe regions are expected to represent good signs of growth for diethyl oxalate market over the forecast period.
Global Diethyl Oxalate Market: Key Players
The global diethyl oxalate market has been identified to be fragmented one with a greater share of tier-2 and tier-3 diethyl oxalate manufacturing companies catering to regional level demand. Some of the market participants identified across the value chain of global diethyl oxalate market include Merck KGaA, Tokyo Chemical Industry Co., Ltd., BorsodChem MCHZ, s.r.o., UBE INDUSTRIES, LTD., Vertellus Holdings LLC, Zouping QiYuan Chemical Co., and Zibo Xusheng Chemical Co., Ltd, among others.
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