The Growing Pharmaceutical and Industrial Sectors are Driving the 4-Fluoro-2, 3-dimethylphenol Market

The 4-Fluoro-2, 3-dimethylphenol Market size is estimated to reach US$300 million by 2027, growing at a CAGR of 6.8% during 2022-2027. 4-Fluoro-2, 3-dimethylphenol, also known as 2,3-Dimethyl-4-fluorophenol and 4-Fluoro-2,3-methylphenol, is a fluorinated compound with a chemical formula of C8H9FO. The market is mainly driven by growing end-use industries such as agriculture, pharmaceutical, research, industrial and others. As per trading economics, European Union industrial production increased by 3.20% in June of 2022 as compared to June 2021. Also, the growing demand for pesticides in agriculture and the growing demand for active pharmaceutical intermediates in the medical sector would drive the growth of the 4-Fluoro-2, 3-dimethylphenol market during the forecast period.

Based on grade, the 4-Fluoro-2, 3-dimethylphenol market can be segmented into pharma grade and industrial grade. Pharma Grade is the leading 4-Fluoro-2, 3-dimethylphenol segment and is expected to grow at a CAGR of 7.3% during the forecast period. Also, based on purity, the 4-Fluoro-2, 3-dimethylphenol market can be segmented into 95%, 96% and others. The 96% is the leading 4-Fluoro-2, 3-dimethylphenol segment and is expected to grow at a CAGR of 6.9% during the forecast period. Moreover, based on applications, the market can be segmented into pesticide intermediate, liquid crystals, active pharma intermediates, laboratory chemicals, substance manufacturing and others. The active pharma intermediate is the leading segment and is expected to grow at a CAGR of 7.9% during the forecast period.

The Asia-Pacific region dominated the 4-Fluoro-2, 3-dimethylphenol market in terms of revenue with a share of 38% in 2021 and is projected to dominate the market at a CAGR of 7.8% by revenue during the forecast period 2022-2027. The growth is mainly driven by the growing developments in agriculture, pharmaceutical, industrial and others in the region that are driving the 4-Fluoro-2,3-dimethylphenol market. According to Invest India, the pharmaceuticals industry in India plays a prominent role in the global pharmaceutical industry.  The pharmaceutical industry is growing at a CAGR of 10-12% and is expected to reach US$65 billion by 2024 and around US$120-130 billion by 2030. Thus, such surging development in end-use sectors in the region would fuel the demand for pesticide intermediate, liquid crystals and active pharma intermediates and is expected to boost the demand for the 4-Fluoro-2, 3-dimethylphenol market.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the 4-Fluoro-2, 3-dimethylphenol market. The top 10 players in this market are Ningbo Inno Pharmachem Co., Ltd., Parchem fine & specialty chemicals, Capot Chemical Co., Ltd, Chemieliva Pharmaceutical Co., Ltd., Shanghai wescco chemical co. ltd, Merck KGaA, Allfluoro Pharmaceutical Co. Ltd., Accel Pharmtech LLC, Amfinecom Inc. and Apollo Scientific Ltd.