2-Acetylthiophene Market: By Purity (Purity (>99%), Purity (99%-95%), Purity (<95%)), End-User Industry (Pharmaceutical and Biotechnology, Food industry, Cosmetics and Personal Care Industry, Agriculture Industry, Flavor industry, Others), Application (Insecticides and Pesticides, Perfumes and Musks, Cosmetic Products, Pheromone traps, Animal feed additives, Others and Geography

2-Acetylthiophene Market is poised to grow at a CAGR of 5.4% over 2023-2029. 2-Acetylthiophene is an organosulphur compound with the formula CH3C(O)C4H3S that is yellow in color, has a sulfury taste, and is an important intermediate in the manufacturing of drugs like Tiamonium Iodide, Suprofan, Stepronin, Tenonitrozole, Namirotene, etc. The rising demand for the chemical industry in order to produce several different compounds and pharmaceutical intermediates drives the 2-acetylthiophene market. According to the American Chemical Society, in 2017, the chemical industry’s total contribution to global GDP was $5.7 trillion, equivalent to 7% of the world’s GDP that year, and supported total number of jobs supported was 120 million. Furthermore, the increased research and developmental activities in the chemistry and pharmaceuticals sector to create specialty chemicals like 2-acetylthiophene are anticipated to propel the market during the forecast years. Additionally, the increased focus on sustainability and green chemistry has created several opportunities for manufacturers to develop eco-friendly products and cater to environmentally-conscious customers. Currently, compliance with stringent environmental and quality regulations among the major manufacturers has become quite famous in the market. But the volatility in the cost of raw materials and the demand from consumers, along with intense competition that leads to price wars and thinner profit margins may hinder market growth. However, the increasing disposable incomes, growing demand for high-quality animal feed additives, urbanization, and changing consumer preferences, are anticipated to burgeon the market growth during the forecast years.