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Diethyl Oxalate Market to reach US$ 891.93 Mn by 2027 – Borsodchem MCHZ, S.R.O., Nanjing Chengyi Chemical Co., Ltd., Indian Oxalate Limited, Shandong Liangzou Mining Industry Group, Merck KgaA, Mudanj

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Diethyl Oxalate Market to reach US$ 891.93 Mn by 2027 – Borsodchem MCHZ, S.R.O., Nanjing Chengyi Chemical Co., Ltd., Indian Oxalate Limited, Shandong Liangzou Mining Industry Group, Merck KgaA, Mudanj

January 27
13:52 2021
The diethyl oxalate market was valued at US$ 521.23 million in 2019 and is projected to reach US$ 891.93 million by 2027; it is expected to grow at a CAGR of 7.0% from 2020 to 2027.

Diethyl oxalate (C6H10O4) is also referred as oxalic acid diethyl ester, ethanedioic acid, diethyl ethanedioate, and others. It is a white solid compound synthesized from carbon monoxide and ethanol. It is slightly denser than water and is insoluble in water. Diethyl oxalate is available in the powder and liquid forms. It is a colorless, toxic compound with a characteristic odor. It has significant applications in various end-user industries such as pharmaceuticals, agriculture, and cosmetics. The compound is majorly utilized as a raw material or intermediate in the manufacturing of phenobarbital and numerous dyes; it is also used as a solvent for natural and synthetic resins as well as in nitrocellulose lacquers and various chemical synthesis processes. Further, it is used as a chemical intermediate in the synthesis of active pharmaceutical ingredients. Diethyl oxalate is also used as a cost-effective additive based in the dye-sensitized solar cells.  

Borsodchem MCHZ, S.R.O., Nanjing Chengyi Chemical Co., Ltd., Indian Oxalate Limited, Shandong Liangzou Mining Industry Group, Merck KgaA, Mudanjiang Hongli Chemicals, Tokyo Chemical Industry Co., Ltd., UBE INDUSTRIES, LTD., Vertellus Holdings LLC, and Zibo Xusheng Chemical Co., Ltd are among the well-established players in the global diethyl oxalate market.

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Impact of COVID-19 Pandemic on Diethyl Oxalate Market

The COVID-19 pandemic, which was first reported in Wuhan (China) in December 2019, has affected economies and industries due to imposed lockdowns and travel bans, and business shutdowns. Chemical and materials is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. This is further projected to impact the demand for diethyl oxalate products globally.

Diethyl oxalate is used in the production of agrochemicals such as pesticides, fungicides, and herbicides. The developments in agricultural practices have led to a rise in agrochemicals production, and this has fueled the expansion of diethyl oxalate market. The explosive growth of population growth that leads to greater demands for food, increasing technological advancement in the agricultural industry, limited availability of arable land, and advances in plant breeding and management expertise are the factors leading to the elevated use of agrochemicals.

Market Insights

Tremendous Growth of Pharmaceuticals Industry

The phenomenal growth exhibited by the pharmaceutical industry is driving the growth of the diethyl oxalate market. In this industry, diethyl oxalate is majorly used as a starting material of oxalate syntheses in the production of steroids, barbiturates, and so on. It acts as a pharmaceutical intermediate in the production of phenobarbital and other drugs. It is extensively used as a reaction reagent in this industry. Several pharmaceutical, as well as biopharmaceutical, manufacturing companies are emphasizing on enhancing their geographic product footprint. This increases the demand for pharmaceutical intermediates such as diethyl oxalate. The growing incidence of chronic diseases and the rise in geriatric population in the world are the major factors boosting the demand for active pharmaceutical ingredients. According to a report by the World Health Organization, the prevalence of chronic diseases is projected to increase by 57.0% by 2020. In addition to this, companies in the pharmaceutical intermediates market are also investing in manufacturing facilities to enhance their production capacities. Such developments would also propel the growth of diethyl oxalate market. 

Strategic Insights

Mergers and acquisitions, and research and development are commonly adopted strategies by companies to expand their footprints worldwide. The players present in the diethyl oxalate market are implementing these strategies to enlarge the customer base and gain significant share in the global market, which also permits them to maintain their brand name globally.

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Diethyl Oxalate Market – by Application

  • Perfume and Fragrances
  • Manufacturing of Dyestuff’s
  • Pharmaceutical Intermediate
  • Plasticizers
  • Others

Diethyl Oxalate Market – by End Use Industry

  • Pharmaceuticals
  • Agricultural
  • Chemical Plastics and Polymer
  • Cosmetics
  • Others

Diethyl Oxalate Market – by Form

  • Liquid
  • Powder

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