New York, NY -- (SBWIRE) -- 12/23/2020 -- Pivaloylacetonitrile, a chemical plays a crucial role in the synthesis of isoxazole—considered as a main herbicide's constituent. The vendor landscape in the market of pivaloylacetonitrile is highly consolidated in nature due to the existence of two renowned producers from China, such as Tianyi Chemical and Jinbang Medical chemical. Other company such as Dow Company from Michigan, U.S. is also present in the market; however, they do not possess a substantial market share. The global pivaloylacetonitrile market is likely to grow with a promising CAGR rate, along with touching an impressive market revenue by 2027.
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Market Drivers
The chemical, pivaloylacetonitrile has faced a few issues due to its harmful effect, especially after being discharged into water bodies. However, after lessening environmental degradation and a certain level of infrastructure development worldwide, the contribution towards the betterment of the environment will be started eventually. Recently, most of the countries across the globe are either developing or developed. Thus, with growing concern about the environment worldwide, the use of harmful products would be at bay. Consequently, this factor will take a toll on the industry's growth. However, increasing use in synthesizing herbicides can trigger demand for pivaloylacetonitrile, thus, promoting growth in the market.
Pivaloylacetonitrile Market: Segmentation
By Type (Revenue, USD Million; Volume in Tons, 2017–2027)
Less than 98%
More than 98%
By Application (Revenue, USD Million; Volume in Tons, 2017–2027)
Pesticide
Pharma
Others
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Leading Participants
Jinbang Medical Chemical
Tianyi Chemical
Dow Chemicals
By Region (Revenue, USD Million; Volume in Tons, 2017–2027)
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Regional Analysis
Due to the presence of two major firms which are from China, the Asia Pacific market is dominating and expected to continue its dominance in the coming years. Other regions, like North America, are contributing to the market growth, owing to the presence of a company named Dow, which is a U.S.-based firm. Due to the presence of this investor, the North America market is likely to grow during the estimated time frame.
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