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4-Fluoro-2, 3-Dimethylphenol Market - Forecast(2024 - 2030)
4-Fluoro-2, 3-Dimethylphenol Market Overview
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. It can be used as an intermediate for pesticides, pharmaceuticals, liquid
crystals and organic luminescent materials. The rise in demand for
4-Fluoro-2,3-dimethylphenol products in various end-use industries such as
agriculture, pharmaceutical and others would boost the 4-Fluoro-2,3-dimethylphenol
industry. According to the Fertilizers Association of India, India's production
of fertilizers is around 43,483.5 thousand tons in 2021. The rise in the consumption
of fertilizers would boost the 4-Fluoro-2, 3-Dimethylphenol industry. However, the global economic downturn caused by the COVID-19
pandemic resulted in a huge drop in demand for 4-Fluoro-2, 3-Dimethylphenol in agriculture and pharmaceutical sectors all
across the world, which had a significant impact on the growth of the 4-Fluoro-2, 3-Dimethylphenol industry.
4-Fluoro-2, 3-Dimethylphenol Market Report Coverage
The “4-Fluoro-2, 3-Dimethylphenol Market Report – Forecast (2022-2027)” by IndustryARC,
covers an in-depth analysis of the following segments in the 4-Fluoro-2, 3-Dimethylphenol Industry.
Key Takeaways
- The Asia-Pacific region dominates the 4-Fluoro-2, 3-Dimethylphenol Market and would grow at a CAGR of 7.8% during the forecast period (2022-2027) owing to the rising growth in agriculture and pharmaceutical sectors in various countries such as China, India, Japan and South Korea.
- Increasing demand for 4-Fluoro-2, 3-dimethylphenol
for various applications such as pesticides intermediate, liquid crystals,
active pharma intermediates, laboratory chemicals and substance manufacturing is
driving the 4-Fluoro-2, 3-Dimethylphenol Market growth.
- The rise in the consumption of
pesticides in agriculture would boost the 4-Fluoro-2, 3-Dimethylphenol Market growth and increase the revenue output.
Figure: 4-Fluoro-2, 3-dimethylphenol Market Revenue Share by Region, 2021
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4-Fluoro-2, 3-Dimethylphenol Market Segment Analysis – by Grade
The pharma grade segment held a significant share of the 4-Fluoro-2, 3-Dimethylphenol Market in 2021 and is expected to grow at a CAGR
of 7.3% during
2022-2027. The pharma grade 4-Fluoro-2, 3-Dimethylphenol is widely used in the
production of active pharmaceutical ingredients in the pharmaceutical industry.
The rise in the pharmaceutical sector would increase the demand for active pharmaceutical
ingredients and in turn would raise the demand for pharma-grade 4-Fluoro-2, 3-Dimethylphenol industry. According to the European Federation of Pharmaceutical
Industries and Associations, the global pharmaceutical market is valued at €943,667 million (US$1,077,856 million) in 2020 and North America holds the
dominant share of 49.0%. Thus, with the rise in the pharmaceutical sector globally, the demand
for pharma-grade 4-Fluoro-2, 3-Dimethylphenol would increase and, in turn, boost the 4-Fluoro-2, 3-Dimethylphenol Market size during the forecast period.
4-Fluoro-2, 3-Dimethylphenol Market Segment
Analysis – by End-use Industry
The pharmaceutical sector held a significant share of the 4-Fluoro-2, 3-Dimethylphenol Market in 2021 and is estimated
to grow at a CAGR of 7.0% during the forecast period 2022-2027. In the pharmaceutical sector, 4-Fluoro-2, 3-Dimethylphenol, also known as 2,3-Dimethyl-4-fluorophenol and 4-Fluoro-2,3-methylphenol, can be used as active pharmaceutical ingredients for various pharmaceutical compounds. The rise in growth of the pharmaceutical sector would eventually drive the 4-Fluoro-2, 3-Dimethylphenol industry. According
to International Trade Administration, Brazil's drugs and pharmaceutical sales are
valued at US$15.02 billion in 2020 and are expected to have a strong recovery
in 2021. Also, the U.S. pharmaceutical industry spent US$83 billion on research
& development in 2019. Such investments in the pharmaceutical sector globally are expected to bolster the
requirement for 4-Fluoro-2, 3-dimethylphenol which, in turn, would propel the
growth of the 4-Fluoro-2, 3-Dimethylphenol Market size during the forecast
period.
4-Fluoro-2, 3-Dimethylphenol Market Segment Analysis – by Geography
The Asia-Pacific region dominated the 4-Fluoro-2, 3-dimethylphenol Market with a 38% share in 2021, owing to the rising agriculture, pharmaceutical and industrial sectors in the region. 4-Fluoro-2, 3-dimethylphenol is a fluorinated compound with a chemical formula of C8H9FO that finds its application in the production of pesticide intermediate, liquid crystals, active pharma intermediates, laboratory chemicals and substance manufacturing. The rise in the growth of end-use industries would drive the 4-Fluoro-2, 3-dimethylphenol industry. The Indian pharma sector market is valued at US$45 billion in 2021 and is expected to reach US$60 billion by 2024 and US$120 billion by 2030. Also, growing agriculture output would increase the demand for pesticides to boost crop productivity. China has set a target to ensure a full-year grain output of about 650 billion kg in 2022 in grain farmland of 117.3 million hectares. Thus, with the growing agriculture and pharmaceutical sector in the APAC countries, the demand for 4-Fluoro-2, 3-dimethylphenol is anticipated to increase during the forecast period and is proving to be a market booster for the 4-Fluoro-2, 3-dimethylphenol market size in this region.
4-Fluoro-2, 3-Dimethylphenol Market drivers
The rise in demand for cotton in the textile sector would boost the demand for pesticides and in turn would drive the 4-Fluoro-2, 3-dimethylphenol Market
Textile is one of the major industries in the world. It uses cotton to produce various garments. 4-Fluoro-2, 3-dimethylphenol (C8H9FO) is a fluorinated compound, widely used in the production of pesticide intermediates which are used in cotton production to boost the cotton yield. The rise in the growth of the textile sector would increase the demand for cotton and in turn would boost the 4-Fluoro-2, 3-dimethylphenol industry. According to IBEF, the Textile and Apparel industry in India contributed 2.3% to GDP, 13% of industrial production and 12% to export earnings in 2019. The Indian Technical Textile market is expected to grow to US$23.3 billion by 2027. According to FAO, the global cotton industry accounted for more than 100 million farm families across the globe and contributes about US$51.4 billion annually in raw products. According to the Textile Association of India, more than 40% of the world’s textile production is in China and India and would have the largest GDP by 2050. The growing demand for cotton would drive the 4-Fluoro-2, 3-dimethylphenol market during the forecast period.
Flourishing Growth of the Pharmaceutical Industry:
4-Fluoro-2, 3-Dimethylphenol, also known as 2,3-Dimethyl-4-fluorophenol, has flourishing demand in the pharmaceutical sector for the production of active pharmaceutical ingredients. The lucrative growth in the pharmaceutical industry can be attributed to factors such as high spending on drugs, growing healthcare infrastructure and a high rate of chronic health incidents. According to the India Brand Equity Foundation (IBEF), the Indian pharmaceuticals sector is expected to reach US$65 billion by 2024 and further expand to US$120-130 billion by the year 2030. According to the International Trade Administration, the worldwide pharmaceuticals market was estimated to grow from US$1 trillion in 2015 to US$1.3 trillion by 2020. With the increasing pharmaceutical production and medication utilization, the applicability of 4-Fluoro-2, 3-Dimethylphenol for the pharmaceutical compound is also growing, which, in turn, is driving the 4-Fluoro-2, 3-Dimethylphenol industry.
4-Fluoro-2, 3-Dimethylphenol Market Challenges
Growing health hazards:
Excessive exposure to 4-Fluoro-2, 3-Dimethylphenol can be toxic to human health. It causes skin irritation, eye irritation and respiratory problems. Such factors may hamper the 4-Fluoro-2,3-dimethylphenol market growth during the forecast period. Also, the harmful emission of particulate matter during the manufacturing of 4-Fluoro-2, 3-Dimethylphenol is impacting the environment. Particles in the air affect both the quality of the air and visibility. The particulate matter affects the aesthetics and utility of areas through visibility reduction and may affect buildings and vegetation. This is restraining the 4-Fluoro-2, 3-Dimethylphenol Market during the forecast period.
4-Fluoro-2, 3-Dimethylphenol Industry
Outlook
Technology launches, acquisitions and R&D activities are key strategies players adopt in the 4-Fluoro-2, 3-Dimethylphenol Market. The top 10 companies in the 4-Fluoro-2, 3-Dimethylphenol 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.
- Apollo Scientific Ltd.
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