Fort Collins, Colorado, May 13, 2024 (GLOBE NEWSWIRE) --
The rise in demand for end-use industries
The catechol market is witnessing substantial growth driven by increasing demand across various end-use sectors. Notably, the pharmaceutical industry stands out as a significant catalyst for this growth, utilizing catechol as a precursor in synthesizing numerous drugs like adrenaline, dopamine, and L-DOPA. Projections from the World Health Organization (WHO) suggest a robust expansion of the global pharmaceutical market, expected to reach USD 1.5 trillion by 2023, indicating promising prospects for catechol.
Furthermore, the agricultural sector contributes significantly to this market's growth, employing catechol to produce pesticides and insecticides. Anticipated data from the Food and Agriculture Organization (FAO) forecasts a 50% surge in global pesticide usage by 2050, amplifying the demand for catechol.
Moreover, the market is capitalizing on the growing adoption of catechol in emerging applications. For instance, catechol is increasingly incorporated into the production of advanced materials such as high-performance polymers and composites, which find wide-ranging applications in aerospace, automotive, and electronics industries. Forecasts from the U.S. Department of Energy project a 10% annual growth in demand for advanced materials through 2030, creating fresh opportunities for the catechol market. Additionally, catechol is finding traction in water treatment applications, serving as a coagulant and flocculant. The United Nations estimates that by 2025, 1.8 billion people will reside in regions facing absolute water scarcity, underscoring the imperative for effective water treatment solutions, thus augmenting the demand for catechol in this sector.
Request Sample Report:
Segmentation Overview:
The catechol market has been segmented into form, end-use, and region.
The pharmaceutical is the leading end-use industry.
- Based on the market segmentation by end-use, the pharmaceutical industry was the largest end-use segment for catechol in 2023. Catechol is a critical raw material used in synthesizing various pharmaceutical compounds, such as adrenaline, dopamine, and L-DOPA, used to treat cardiovascular and neurological disorders.
Flakes are the leading form of catechol for their versatility.
- Based on the market segmentation by form, the flakes segment held the largest market share in the catechol market in 2023. Flakes are the most common and widely used form of catechol due to their ease of handling, storage, and transportation. They offer high purity and are readily available, making them the preferred choice for various end-use industries, such as pharmaceuticals and agrochemicals.
Ask For Discount
Catechol Market Report Highlights:
- The catechol market growth is anticipated at a CAGR of 3.5% by 2032.
- Increasing demand from end-use industries drives market developments.
- The Middle East and Africa region is expected to be the fastest-growing market for catechol in the near future. The region's growth can be attributed to the increasing investments in the pharmaceutical and agricultural sectors, coupled with the rising demand for catechol-based products.
- Some prominent players in the catechol market report include Camlin Fine Sciences, Solvay, UBE Corporation, Lianyungang Sanjili Chemical Industry Co. Ltd., K.K Poonja & Sons, Fisher Scientific UK Ltd, Sisco Research Laboratories Pvt. Ltd. (SRL) and Alfa Aesa.
Looking Exclusively For Region/Country Specific Report?
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
Contact:
Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://datahorizzonresearch.com/
Follow Us: LinkedIn
Recent Publications
Building Thermal Insulation Market Size & Analysis 2024 to 2032
Trifluoroacetic Acid Market Size & Analysis 2024 to 2032
Fatty Acid Market Size & Analysis 2024 to 2032
Facades Market Size & Analysis 2024 to 2032
Reverse Osmosis Membrane Market Size & Analysis 2024 to 2032
