Diethyl Acetoacetamide Market Forecast and CAGR
Diethyl Acetoacetamide is an intermediate in the preparation of various industrially important chemicals, including insecticides and pigments. It is projected that the Diethyl Acetoacetamide market will grow significantly with a CAGR of 5% to 6% in the upcoming years, i.e., 2021 to 2031.
A rise in demand for insectiside, the expansion of the agriculture sector, technological developments, and rising need for weed-removal chemicals are all anticipated to drive up demand.
Furthermore, an increase in the applications of insecticides in the agriculture industry, as well as an increase in investment by major companies in developing countries, are expected to drive the growth of the global Diethyl Acetoacetamide market.
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What is Driving Demand for Diethyl Acetoacetamide
With the growing demand for pigments in various end-use industries like paints and coatings, ink manufacturing, plastic and textiles, paper and pulp, and others, the pigment market is expected to boost demand for Diethyl Acetoacetamide as its derivatives provide a wide range of colours with a wide range of shades. The growing demand for various colours of ink all over the globe is boosting the consumption of pigments.
Commercial farming with technologically advanced machinery and high-quality pesticides is replacing traditional farming for crop yield enhancement and protection. Farmers have been able to implement effective pest management thanks to evolving technology and advances in agricultural chemistry. Growing awareness about the use of pesticides and insecticides has boosted the diethyl acetoacetaamide market.
Agricultural and pigment industries are boosting growth of Diethyl Acetoacetamide Market
The growing use of insecticides and increased demand for crop protection due to rising food demand are expected to drive the market in the coming years. In addition, the increase in the number of pests and the use of insecticides in other sectors such as residential and industrial is expected to boost the market in the coming years.
Furthermore, an increase in crop losses due to insect infestation, as well as research and development in the segment by various organizations, are expected to fuel the market during the forecasted period.
It is used to make pigments that produce a wide range of vibrant colours with brilliant luster, as well as superior hiding power and light fastness, making them ideal for high-performance paints and coatings, plastics, and other applications.
Architectural and decorative coatings consume the most pigments in their manufacturing. As a result, rising construction and infrastructure activities are increasing demand for Diethyl Acetoacetamide as an intermediate.
Asia Pacific Demand Outlook for Diethyl Acetoacetamide
Asia-Pacific is expected to be the fastest growing segment due to factors such as increased investment by major corporations in developing countries, agricultural developments, and increased demand for herbicides. Increased demand for herbicides will aid in the growth of the Diethyl Acetoacetamide market.
Because of favourable manufacturing conditions and regulatory laxity, production facilities are being relocated to the Asia Pacific region. This is aided by the easy availability of raw materials as well as low-cost and skilled labour.
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During the forecast period, the consumption of Diethyl Acetoacetamide Pigments is expected to rise due to rapidly expanding end-use industries in several Asia Pacific countries. Because of the expanding paints, paper, inks, and textile industries, China, India, and ASEAN are expected to see significant growth in the market.
North America Demand Outlook for Diethyl Acetoacetamide
The advancement of technology and the increased demand for insecticides are expected to aid in the growth of the diethyl acetoamide market. The increased investments by major corporations, as well as the increased demand for weed-killing chemicals, are creating more opportunities for market growth.
Increasing activities and investments in the agricultural industries’ research and development sector will boost their market because it is a starting material for the synthesis of many insecticide products.
Who are the Key Manufacturers and Suppliers of Diethyl Acetoacetamide
Some of the leading manufacturers and suppliers are
- Laxmi organics ltd.
- Alkyl amines
- Parchem fine chemicals
- Alpha chemica
- TCI
- Vasino industries
- Hairui chemicals etc.
Due to rising demand, major industries are rapidly increasing their investment in developing countries. This resulted in a rapid increase in the market for products. Increased demand for insecticide chemicals is expected to boost the growth of the market.
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