Monomethyl Acetoacetamide Market size is expected to expand at around 4.1% CAGR during the forecast period i.e., between 2024-2036. Monomethyl acetoacetamide, also known as, acetoacetic monomethylamide is a pale yellow chemical that contains nitrogen dioxide, with five carbon atoms and two hydrogen. Its molecular formula is C5H9NO2. The growth of the market can be attributed to the growing application of monomethyl acetoacetamide as agrochemicals. Moreover, the growing adoption of agrochemicals in the agriculture industry, in order to boost production, is estimated to boost the market growth. For instance, the market volume of agrochemicals amounted to approximately 285 million metric tons by the end of 2019, globally. Additionally, monomethyl acetoacetamide is also prominently used as a textile dye, owing to its yellow color. Along with this, it is also used in several personal care products, such as cosmetics, tattoo inks, and hair dyes, amongst others. The growing applications of monomethyl acetoacetamide globally, across various end-user sectors, is estimated to drive the market growth.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
7.2% |
|
Regional Scope |
|
The market is segmented by application into dyes & pigments, pesticides, food colorant, textile processing, and others, out of which, the pesticides segment is anticipated to hold a substantial share in the global monomethyl acetoacetamide market over the forecast period on account of growing demand for pesticides in the agriculture industry. For instance, in 2019, over 4 million metric tons of pesticides were used for agriculture across the world. CLICK TO DOWNLOAD SAMPLE REPORT
Our in-depth analysis of the global market includes the following segments:
|
By Content Type |
|
|
By Application |
|
On the basis of geographical analysis, the global monomethyl acetoacetamide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is predicted to dominate majority revenue share by 2036, on the back of high usage of pesticides in the region. According to the data by the Food Agriculture Organization (FAO), Asia region accounted for more than 50% of the global pesticide consumption, in 2018. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to increasing use of agrochemicals, along with the growing import and consumption of chemicals in the region.
January 31, 2022: Omya AG, a leading global producer of industrial minerals and specialty chemicals, to join hands with SONGWON International Inc. for distribution partnership in Latin America.
March 30, 2021: BASF SE announced that it has signed an agreement with AgBiome to launch a new fungicide in Europe and for key countries in Africa and the Middle East.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?