In 2019, the global diethyl oxalate market was valued at approximately US$ 521.23 million and is anticipated to grow to around US$ 891.93 million by 2027, reflecting a compound annual growth rate (CAGR) of 7.0% from 2020 to 2027.
Diethyl oxalate, chemically known as C6H10O4, is also identified by various names such as oxalic acid diethyl ester, ethanedioic acid, and diethyl ethanedioate. This compound appears as a white solid and is synthesized from carbon monoxide and ethanol. It has a density slightly greater than that of water and is insoluble in water. Available in both powder and liquid forms, diethyl oxalate is a colorless and toxic substance with a distinctive odor. It finds extensive applications across multiple industries, including pharmaceuticals, agriculture, and cosmetics. Primarily, it serves as a raw material or intermediate in the production of phenobarbital and various dyes. Additionally, it acts as a solvent for both natural and synthetic resins, nitrocellulose lacquers, and is involved in numerous chemical synthesis processes. Furthermore, diethyl oxalate is utilized as a cost-effective additive in dye-sensitized solar cells.
When categorized by application, the diethyl oxalate market is divided into segments such as perfumes and fragrances, dyestuff manufacturing, pharmaceutical intermediates, plasticizers, and others. The dyestuff manufacturing segment held the largest market share in 2019, while the pharmaceutical intermediate segment is projected to experience the highest CAGR during the period from 2020 to 2027. Dyestuffs, which can be either inorganic or organic, are water-soluble substances that reflect light and serve as coloring agents that permanently alter the color of materials. They are predominantly used in the textile industry, as well as in leather and paper production. In the chemicals sector, dyestuffs are crucial for ensuring chemical uniformity. The demand for synthetic dyestuffs is expected to increase significantly during the forecast period due to their superior performance and technical characteristics.
Regionally, the global diethyl oxalate market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. In 2019, the Asia Pacific region held the largest share of the global diethyl oxalate market, followed by North America and Europe. Within Asia Pacific, China is the leading market for diethyl oxalate, followed by other regions in Asia and India. The Asia Pacific region presents numerous opportunities for market expansion, as countries like China, Japan, Australia, and New Zealand are significant consumers of this chemical. Factors such as rapid industrialization, robust economic growth, and an increase in applications based on diethyl oxalate are driving market growth in this area. The production of active pharmaceutical ingredients (APIs) is a key application of diethyl oxalate in the region.
As of September 2020, countries such as China, Italy, India, Brazil, Russia, Spain, Iran, France, Germany, and the United States have been significantly impacted by the COVID-19 pandemic, with high numbers of confirmed cases and fatalities. According to the latest data from the World Health Organization (WHO), there are approximately 26,994,442 confirmed cases and 880,994 deaths worldwide. The pandemic has disrupted economies and industries due to lockdowns, travel restrictions, and business closures. The chemical and materials sector is among the industries facing severe disruptions, including supply chain interruptions, cancellation of technology events, and office closures. The industry is grappling with reduced demand and productivity, operational challenges, and tightening credit markets, all of which have negatively impacted the global diethyl oxalate market.
Key players in the global diethyl oxalate market include BorsodChem MCHZ, s.r.o., Nanjing Chengyi Chemical Co., Ltd, Indian Oxalate Ltd., Chemamde, Merck KGaA, Mudanjiang Hongli Chemicals, Tokyo Chemical Industry, Ube Industries, Vertullus Holdings, and Zibo Xusheng Chemical Co., Ltd.
The size of the diethyl oxalate market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry participants and experts to validate the information and gain deeper analytical insights. Participants in this research typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the diethyl oxalate market.