According to latest conducted research, 2-Nitrothiophene market is projected to grow at a steady CAGR of 6-8% for the forecast period of 2021-2031.
Demand for this product will be witnessed across all regional markets. Due to its usage in production of thiophene chemicals and it being a pharmaceutical intermediate, the market for this chemical is set to witness growing opportunities during the forecast period.
What is Driving Demand for 2-Nitrothiophene?
Demand for 2-Nitrothiophene has been increasing due to its significant use in the synthesis of thiophene containing compounds. Thiophene and its substituted derivatives are a very important class of heterocyclic compounds which are extremely effective with respect to their biological and physiological functions such as being anti-inflammatory, anti-psychotic, anti-arrhythmic, anti-anxiety, anti-fungal, antioxidant, estrogen receptor modulating, anti-mitotic, anti-microbial, and anti-cancer.
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It is also one of the key pharmaceutical intermediates. Several commercial drugs also contain thiophene nucleus. These drugs show interesting applications in the field of medical chemistry.
Thus, the synthesis and characterization of novel thiophenes is essential, in turn bringing into picture this product which is a useful intermediate to ultimately produce these essential drugs and pharmaceutical products. These applications are boosting the growth of this market.
New Production Methods to Drive 2-Nitrothiophene Market
Researchers are working on new production methods for 2-Nitrothiophene. Current inventions relate to eco-friendly processes for the preparation of this chemical. This preparation shall be done selectively from thiophenes, using metal exchanged clay catalysts and nitric acid, dispensing with the use of acetic anhydride.
With the pharmaceutical industry expanding globally, the requirement for this chemical will increase and so will the need to obtain a more environmental friendly manufacturing process. This chemical is yet to be exploited to its full potential and holds a scope of growth in the forecast period.
ASIA-PACIFIC 2-Nitrothiophene Market Outlook
Asia Pacific region is anticipated to lead and dominate in the global 2-Nitrothiophene market with the largest market share. This shall be owing to the rapid expansion of medical sector in countries like India and China. Increase in requirement for pharmaceuticals and elongated medical treatments will ensure an increase in the demand for the chemical.
There are also some leading manufacturers of the product in countries like Japan, which supply this chemical globally. Hence, this region’s market for this product is anticipated to grow in the forecast period.
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North America 2-Nitrothiophene Market Outlook
The market in North America is expected to expand at a moderate pace during the forecast period. This is due to the presence of many top key player companies, which are native to this region.
Regional sales for 2-Nitrothiophene will increase while exports of this chemical from this region is also expected to grow in the forecast period. Due to increased demand for this chemical from pharmaceutical sector and stable supply in the North America region, the market for this product is projected to witness healthy growth in the forecast period.
Europe 2-Nitrothiophene Market Outlook
European region is expected to witness a steady rise in the demand of this product due to high investments in research and development in the region.
Researchers are working towards better production methods for 2-Nitrothiophene and exploring the novel ways to use it better and utilize it in more applications. This will in turn ensure growth of the market in forecast period.
Who are the Key Manufacturers and Suppliers of 2-Nitrothiophene?
Some of the key players operating in the global 2-Nitrothiophene market are
- TCI (Japan)
- Anvia Chemicals (US)
- Alfa Aesar (US)
- Apollo Scientific (UK)
- 3B Scientific (Germany)
- Waterstone Technology (US)
- Alli Chem LLC (US)
- Acros Organics (US)
- J & K Scientific (China)
- Meryer (Shanghai) Chemical Technology (China)
- Kanto Chemical (Japan)
- and Kaifute (Tianjin) Chemical (China).
The number of companies manufacturing this chemical is gradually increasing, as the utilization benefits of it are being realized. This is contributing to the robust growth in supply.
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.
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Key Segments
By Grade:
- Technical Grade
- Other
By Application:
- Thiophene Products
- Pharmaceuticals
- Others
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