2-Iodophenol Market Trends

Growth Drivers

• Growing Demand in Agrochemical Applications - Increasing application of 2-idodphenol in the synthesis of multiple agrochemical such as pesticides, fungicides, herbicides and insecticides. The rapid demand for effective crop protection solution and increasing need for high in quality agricultural products is anticipated to drive the growth of the 2-Iodophenol market in the forecast period. In order to harvest the crops, farmers need safe and sustainable solutions. FAO estimates that about 20% to 40% of the world's crops are destroyed by weed, pest and disease. These losses would have been much higher without the use of safe and reliable crop protection solutions. Therefore, these factors are predicted to drive the growth of the market in the upcoming timeframe.
• High Demand in Specialty Chemicals - 2-Iodophenol is generally considered a key component in the production of specialty chemicals. It is highly utilized in the production of dye, pigments, and other fine chemicals. The rapidly rising cosmetic, printing and textile industry is set to drive the expansion of 2-Iodophenol market in the anticipated time period.
• Increasing Government Support in Enhancing Healthcare - It is crucial for emerging economies especially to address the challenges posed by safety nets, informality, and strengthen the health system in those regions. Additional stimulus could be considered if the effects of the Pandemic continue, in emerging markets and developing economies with sufficient budgetary space and accessible financing resources. Measures to help ensure that medium term fiscal sustainability is sustainably restored, including strengthening of budgetary frameworks and increasing domestic levels should accompany this step. Raising the efficiency of revenue mobilization and spending, as well as increasing transparency in fiscal and debt matters. A key step towards creating an attractive investment climate, which could make significant progress this year, is the transparency of all government financial commitments, debt instruments and investments.

Challenges

• Environmental Concerns - Application of 2-Iodophenol includes exposure of harmful chemicals to environment that might have negative effect over environment. Therefore, strict regulatory actions and increasing focus on sustainability might act a challenge for the market in the forthcoming years.
• Health and Safety Regulations Associated are expected to hinder the market growth in the upcoming period
• Volatility in raw material prices is set to hamper the 2-Iodophenol market expansion in the projected period