2-Nitrothiophene Market: By Grade (Technical Grade, Other), By Application (Thiophene Products, Pharmaceutical, Agrochemical, Dyes and Pigments, Others), and Geography

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2-Nitrothiophene market was valued at USD 28,550.2 million in 2022 and is poised to grow at a CAGR of 2.8% over 2023-2029. 2-Nitrothiophene is a chemical compound with the molecular formula C4H3NO2S that consists of a five-membered thiophene ring with a nitro group (-NO2) attached at one of the carbon atoms in the ring and is primarily used as a chemical intermediate in the synthesis of various organic compounds. The 2-nitrothiophene industry is developing due to the rising need for high-voltage batteries in smart cities, electric public transit, and electric vehicles for electrolyte screening. According to the International Energy Agency (IEA), sales of electric vehicles (EVs) in 2021 were about 6.6 million and the global sales of electric cars have kept rising strongly in 2022, with 2 million sold in the first quarter.

Furthermore, the continuous growth in the pharmaceutical industry and the increased need for specialized intermediates in drug synthesis are anticipated to propel the market. Additionally, the businesses that provide 2-nitrothiophene and its derivatives bespoke synthesis services might benefit from opportunities to cater chemical solutions to the pharmaceutical, agrochemical, and other industries. As the industry looks for more sustainable solutions, the application of bio-based and green chemical principles in the manufacture of 2-nitro thiophene may be a key trend. But, the constant fluctuations in the price and availability of raw materials used in the synthesis of 2-Nitrothiophene along with the environmental concerns related to the production and use of chemicals may hinder the market growth. However, the expansion of the pharmaceutical industry globally, expanding investment towards smart cities and electric public transportation, technological advancement, increased research activities, and rise in key market players are anticipated to burgeon the market growth during the forecast period.

2-Nitrothiophene Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

2.8%

Largest Market

Asia Pacific

Fastest Growing Market

Asia Pacific
2-Nitrothiophene Market Dynamics

The market is expected owing to 2-Nitrothiophene’s significant role in the synthesis of molecules containing thiophene, that has been in high demand. In terms of biological and physiological functions, such as being anti-inflammatory, anti-psychotic, anti-arrhythmic, anti-anxiety, anti-fungal, antioxidant, estrogen receptor modulating, anti-mitotic, anti-microbial, and anti-cancer, thiophene and its substituted derivatives are a very significant class of heterocyclic compounds. Thiophene nucleus can also be found in a number of pharmaceutical products. These medications demonstrate intriguing medical chemical applications. The demand for this chemical will rise along with the need for a more environmentally friendly manufacturing procedure as the pharmaceutical sector expands globally. Longer medical procedures and an increase in the need for pharmaceuticals are anticipated to increase demand for the chemical.

Key Features of the Reports

  • The 2-nitrothiophene market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

2-Nitrothiophene Market Segmentation

By Grade
  • Technical Grade
  • Other
By Application
  • Thiophene Products
  • Pharmaceuticals
  • Agrochemical
  • Dyes and Pigments
  • Others
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA
  • Rest of MEA

Frequently Asked Questions

The 2-nitrothiophene market was valued at USD 28,550.2 million in 2022 and is expected to grow at 2.8% CAGR over the forecast period 2023 – 2029.

The continuous growth in the pharmaceutical industry and the increased need for specialized intermediates in drug synthesis drives the market.

TCI (Japan), Anvia Chemicals (USA), Alfa Aesar (USA), Apollo Scientific (United Kingdom), 3B Scientific (Germany), Waterstone Technology (USA), Alli Chem LLC (USA), Acros Organics (USA), J & K Scientific (China), Meryer (Shanghai) Chemical Technology (China), Kanto Chemical (Japan), Kaifute (Tianjin) are a few companies operating in 2-nitrothiophene market.

North America dominates the market in 2022 and is anticipated to grow with 2.6% CAGR over the forecast period 2023-2029.

  • TCI (Japan)
  • Anvia Chemicals (USA)
  • Alfa Aesar (USA)
  • Apollo Scientific (United Kingdom)
  • 3B Scientific (Germany)
  • Waterstone Technology (USA)
  • Alli Chem LLC (USA)
  • Acros Organics (USA)
  • J & K Scientific (China)
  • Meryer (Shanghai) Chemical Technology (China)
  • Kanto Chemical (Japan)
  • Kaifute (Tianjin)

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