Trifluoroacetic Acid (TFA) Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2024
Market Overview
The Global Trifluoroacetic Acid (TFA)
Market surpassed USD 271 million in 2017. TFA is an acetic acid derivate used
as an intermediary product in the manufacturing of pesticides. The demand for
TFA anhydride is primarily driven by the high demand for pesticides in the
agricultural industry. With the growing population, the demand for food is
expected to increase rapidly in the coming years. To meet this increasing
demand, efficient crop production with better quality is necessary. However,
rapid industrialization and urbanization have led to limited availability of
cultivable land, which has resulted in an increase in the use of agrochemicals.
The World Bank reported that the arable land in China declined to 118.9 million
hectares in 2016 from 119.0 million hectares in 2015. In January 2018, Jubilant
Life Sciences received an approval from the Indian government to establish a
pesticide intermediate and technical grade pesticide plant in Gujrat, India,
worth USD 36.09 crores. Such trends exhibit that the use of chemical pesticides
and fertilizers has become essential for crop production. Thus, the rising
demand for food, coupled with the limited availability of cultivable land is
estimated to drive the demand for TFA.
Get Free Sample Now @ https://www.marketresearchfuture.com/sample_request/8064
Segmentation Analysis
The Global Trifluoroacetic Acid (TFA) Market has been categorized based on type, application, and region. On the basis of type, the
global market has been segmented into 99.5%
trifluoroacetic acid, 99.9% trifluoroacetic acid, and others. By application, the global market has been segregated
into medical intermediates, pesticide intermediates, and others.
Key
Players
·
Midas Pharma
GmbH
·
Solvay
·
Anhui Jin'ao
Chemical Co. Ltd
·
Halocarbon
Products Corporation
·
Sinochem
·
SRF Limited
·
Nantong
Baokai Chemical Co.,Ltd
Access
Complete Report @ https://www.marketresearchfuture.com/reports/trifluoroacetic-acid-market-8064
Regional
Analysis
The Global Trifluoroacetic Acid (TFA) Market,
by region, has been segmented into Asia-Pacific, North America, Europe, Latin
America, and the Middle East & Africa.
The market in Asia-Pacific accounted
for the largest share of the global trifluoroacetic acid (TFA) market in 2018
and is expected to showcase substantial growth during the review period. Most
of the production in the region is in China, India, Thailand, Vietnam, Myanmar,
and Indonesia owing to increasing demand for pesticides in the agricultural
industry.
The North American market held the
second-largest share of the global trifluoroacetic acid (TFA) market in 2018.
The growth is driven by increasing production of TFA the US and Canada. The region is witnessing high demand for crops
due to growing population which has positively impacted the consumption of
pesticides, thus the use of TFA.
The increasing investment is expected
to be the prime driver for the growth of the pharmaceutical industry in Europe.
TFA is significantly used in the
pharmaceutical industry. Thus, the growing healthcare expenditure in the
European countries is projected to increase the demand for TFA for use in medicinal products.
The Middle East & African and
Latin American markets are projected to grow with the rising demand for TFA in the pharmaceutical industry.
Check Discount For This Report @ https://www.marketresearchfuture.com/check-discount/8064
Get More Reports From Valuable Sources
–
Comments
Post a Comment