diethyl oxalate Market

The global diethyl oxalate market was valued at US$ 521.23 million in 2019 and is projected to reach US$ 891.93 million by 2027; it is expected to grow at a CAGR of 7.0% from 2020 to 2027.

Diethyl oxalate (C6H10O4) is also referred as oxalic acid diethyl ester, ethanedioic acid, diethyl ethanedioate, and others. It is a white solid compound synthesized from carbon monoxide and ethanol. It is slightly denser than water and is insoluble in water. Diethyl oxalate is available in the powder and liquid forms. It is a colorless, toxic compound with a characteristic odor. It has significant applications in various end-user industries such as pharmaceuticals, agriculture, and cosmetics. The compound is majorly utilized as a raw material or intermediate in the manufacturing of phenobarbital and numerous dyes; it is also used as a solvent for natural and synthetic resins as well as in nitrocellulose lacquers and various chemical synthesis processes. Further, it is used as a chemical intermediate in the synthesis of active pharmaceutical ingredients. Diethyl oxalate is also used as a cost-effective additive based in the dye-sensitized solar cells.

Based on application, the diethyl oxalate market is segmented into perfumes and fragrances, manufacturing of dyestuffs, pharmaceutical intermediate, plasticizers, and others. The manufacturing of dyestuffs segment accounted for the largest share of the market in 2019, and pharmaceutical intermediateis expected to register the fastest CAGR during 2020–2027. Dyestuffsare inorganic or organic, water-soluble substances that reflect light. A dye is used as a coloring agent that changes the color of materials permanently. Dyestuffs are predominately used for coloring fabrics. A few of the end-user industries that extensively use dyestuff are textile, leather, and paper. Moreover, in the chemicals industry, dyestuffs play a vital role in maintaining chemical uniformity. Also, the synthetic dyestuff is anticipated to witness major traction over the forecast period owing to its excellent performance and technical properties.

The global diethyl oxalate market, based on region, is segmented into North America, Europe, AsiaPacific, South America, and Middle East and Africa. In 2019, Asia Pacificheld the largest share in the global diethyl oxalate market, followed by North America and Europe. China dominates the diethyl oxalate market in Asia Pacific, followed by rest of Asia Pacific and India, respectively. The APAC encompasses ample opportunities for the market growth as countries such as China, Japan, Australia, and New Zealand are the key consumers of this chemical. Rapid industrialization, high economic growth rate, and rising diethyl oxalate-based applications are the prime factors contributing to the market growth in the region. The preparation of active pharmaceutical ingredients (APIs) is a key application of diethyl oxalate in the region.

As of September 2020, China, Italy, India, Brazil, Russia, Spain, Iran, France, Germany, and the US are among the most affected countries by the active COVID-19 pandemic, in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~26,994,442 confirmed cases and 880,994 total deaths globally. Covid-19 has affected economies and industries due to imposed lockdowns and travel bans, and business shutdowns. Chemical and materials is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. Lowered demand and productivity, operational and supply chain disruptions, and potentially tightening credit markets are among the key factors affecting this industry. All these factors have adversely affected the global diethyl oxalate market.

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., Ltdare among the players present in the global diethyl oxalate market.
    
The diethyl oxalate market size has been derived in accordance with both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the diethyl oxalate market.