2-Ethyl Anthraquinone Market was valued at USD 5,290.2 million in 2022 and is poised to grow at a CAGR of 5.1% over 2023-2029. 2-Ethyl Anthraquinone is a chemical compound that is yellow, powdery, or flakey and is derived from anthraquinone. It is mainly used in the production of Photoactive chemicals, dyes, light sieve resin, pharmaceuticals, and pesticide intermediates, as well as in the synthetic catalyst for hydrogen peroxide. The rising demand for hydrogen peroxide in industries such as pulp and paper, chemicals, wastewater treatment, and electronics manufacturing drives the 2-Ethyl Anthraquinone market. Furthermore, the demand for 2-Ethyl Anthraquinone may rise as a result of ongoing research and development projects to enhance hydrogen peroxide production and find new uses.
Additionally, the increased adoption of stringent environmental regulations and rising awareness of sustainability have created opportunities for producers to promote the environmental benefits of their products and for consumers to adopt cleaner and more sustainable chemical processes. The increased collaborations, and strategic partnerships between the key market players, along with researchers are in trend in the market. In addition, the pharmaceutical sector has offered the 2-Ethyl Anthraquinone market tremendous chances due to the compound's prospective uses in pharmaceutical production and medication development. New opportunities for market expansion have been created by the use of 2-Ethyl Anthraquinone as a reagent and catalyst in the pharmaceutical process. But the constant fluctuation in cost and availability of raw materials along with the several disruptions in the supply chain may hinder the market growth. However, strong GDP development, rising industrial investments, significant investments in research and development, and rising personal disposable income are anticipated to burgeon the market
Fastest Growing Market
The market is expected to rise as the demand for hydrogen peroxide in various industrial and manufacturing value chains is increasing. The rising awareness regarding sanitization, health, and safety and the increased investments by the government in the health sector drive the market. Furthermore, hydrogen peroxide is an oxidizing substance and is used to treat groundwater that has iron, manganese, and the sulfuric smell of rotten eggs. In comparison to chlorine, potassium permanganate, and aeration, it is more potent. Additionally, the chemical industry uses hydrogen peroxide to create inorganic chemicals including sodium/calcium hypochlorite, compounds containing sulphur, and sodium cyanide. Moreover, the rising applications of hydrogen peroxide in various industries such as textiles, paper, and electronics, and electronics are driving the demand for 2-Ethyl Anthraquinone as a catalyst in its production.
The 2-ethylanthraquinone market valued at USD 5,290.2 million in 2022 and is expected to grow at 5.1% CAGR over the forecast period 2023 – 2029.
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Cambridge International Corp., Nanjing Chemlin Chemical Co. Ltd, Meyer (Shanghai) Chemical Technology Co., Ltd., E. I. du Pont de Nemours and Company, J & K Scientific Ltd., XiaoGan ShenYuan ChemPharm Co. Ltd, and Alfa Aesar are a few companies operating in 2-Ethylanthraquinone market.