2-Acetylthiophene market is growing at a steady growth rate over the last few years and is projected that the market will grow with a healthy CAGR 5% to 6% in the forecast period 2021 to 2031.
Growing industrialization and demand from key sector especially Pharmaceutical, Biotechnology and perfumes industries are stimulating the market growth. 2-Acetylthiophene is the intermediate for manufacturing of various active pharmaceutical ingredients. Increased investments in R&D by pharmaceutical and biotechnological companies are boosting growth of this market.
The market is driven by the extensive use of additives in food & beverage sector for different functioning. Also, the rising demand for convenience and packaged foods where additives are used in a higher quantity is further fueling the market growth of this product.
What is Driving Demand for 2-Acetylthiophene
2-Acetylthiophene market growth is being driven by rising industrialization, particularly in the chemical industry. Its medical characteristics, which include application in depression, inflammation, emesis, migraine, spasm, ulcer, fungal infection, various allergies are also driving market demand.
2-Acetylthophene Market is also booming due to rising demand from packaged food manufacturers. The present invention concerns the use of some derivatives of it as food additive ingredients. Also it is the raw material for the flavor and fragrance industry.
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Pharmaceutical and Food Industries are Boosting Growth of 2-Acetylthiophene market
It is not surprising that it act as lead compound and a key building block in numerous pharmaceuticals. 2-Acetylthiophene market derivatives constitute an important class of therapeutic agents in medicinal chemistry including Anti-inflammatory, Anti-allergic, Anti-spasmodic, Hepatic protectant, Anti-depressant, Uricosuric agent, Antifungal agent, etc.
Although it is a very small moiety but it is fascinated by scientists because of the diverse biological activities by not only this but its various substituted derivatives as well. Drug development activities will increase its market demand.
The food & beverage industry requires flavors for different purposes such as new product development, add new product line, and change the taste of existing product. High demand for new flavors from the food & beverages industry and continuous innovation drive the growth of the food flavors market.
As 2-Acetythiophene is intermediate for the various food and flavor additives the growth of fast food industry and demand of packaged food will aid to increase in 2-Acetylthiophene market.
Asia Pacific Demand Outlook for 2-Acetylthiophene
Significantly growing pharmaceutical industries in several countries of Asia Pacific region is anticipated to boost the consumption of it for development of new drug moiety during the forecast period. China, India, Japan, South Korea and rest of Asia are estimated to witness a substantial growth in 2-Acetylthiophene market owing to the growing pharmaceutical and Biotechnology industries.
China and India are expected to remain a key country markets during the forecast period. The growth is expected to be attributed by the growing Pharmaceutical Rand D activities.
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North America Demand Outlook for 2-Acetylthiophene
The strong growth in the medicine sector in North America has resulted in the considerable growth of 2-Acetylthiophene market in this region. Increasing activities and investments in to the research and development sector of the pharmaceuticals and biotechnology industries will boost its market as it is a starting material for synthesis of many medicinal products.
Other major drivers in the market include increase in demand for processed food & beverages with growth in disposable incomes, rise in the demand for unique flavors in various food applications, and surge in popularity of exotic flavors.
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Who are the Key Manufacturers and Suppliers of 2-Acetylthiophene
Some of the leading manufacturers and suppliers are
- TCI (Tokyo Chemical Industry)
- Acorn PharmaTech Product
- Aaron Chemicals LLC
- Acros Organics
- Ark PharmInc.
- Hefei Hirisun Pharmatech Co.Ltd
- Achemo Scientific Limited
- Arvee labs
- A.B. Enterprises
- Alpha chemica
Key players are focusing on development of various Drug molecules from it to increase its applications and usage in pharmaceutical and biotechnology industries. Furthermore, to overcome the stringent regulations for the hazardous compounds, market participants are also focusing on reducing hazards generation along with carbon footprint by focusing on sustainability.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.