USD 2.16 billion
Ethyl Pyruvate Market Size, Share, Growth Analysis, By Type(98%, 99%, Others), By Application(Pharmaceutical, Agrochemicals, Flavours, Fragrances), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2332 |
Region:
Global |
Published Date: February, 2024
Pages:
221
|Tables:
66
|Figures:
65
Ethyl Pyruvate Market Insights
Ethyl Pyruvate Market size was valued at USD 2.16 billion in 2019 and is poised to grow from USD 2.3 billion in 2023 to USD 3.66 billion by 2031, growing at a CAGR of 6.7% in the forecast period (2024-2031).
Ethyl Pyruvate is a new anti-inflammatory drug used to treat severe inflammatory disorders. In animal models of disease such as pancreatitis, ischemia-reperfusion injury, sepsis, kidney injury, and endotoxemia, CTI-01 displays significant anti-inflammatory and tissue protective effects. The increase in R&D activities to investigate the application of Ethyl pyruvate to treat chronic illnesses in humans is expected to fuel market growth. Researchers are attempting to determine the anticancer activity of Ethyl pyruvate in non-small cell lung cancer (NSCLC) cells and to elucidate the underlying mechanism. It inhibits non-small cell lung cancer cell proliferation, invasion, and migration while inducing apoptosis via the HMGB1/RAGE axis and the NFB/STAT3 pathway.
US Ethyl Pyruvate Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
0.99
Fastest Growth
0.99
Growth Rate
6.7% CAGR
Global Ethyl Pyruvate Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Ethyl Pyruvate Market Segmental Analysis
The Global Ethyl Pyruvate Market is segmented based on the Type, Application, and region. Based on the Type, the market is segmented as 98%, 99% and Others. Based on Application, the market is segmented as Pharmaceutical, Agrochemicals, Flavours and Fragrances, Electronics Solvents, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Ethyl Pyruvate Market Analysis by Type
Based on the Type, 99% purity is estimated to dominate the global Ethyl Pyruvate market. 99% purity is largely used in applications such as Agrochemicals and pharmaceuticals. It is a medication that is used to treat some forms of central nervous system illnesses. It has been shown that ethanol can strengthen brain cells by promoting their development and repair. Ethanol aids in the reduction of chronic inflammation as well as neurodegeneration, both of which can contribute to Alzheimer's disease and other neurological illnesses such as traumatic brain injury (TBI).
Ethyl Pyruvate Market Analysis by Application
The global Ethyl Pyruvate market has been segmented on the basis of application as pharmaceuticals, Agrochemicals, Flavours and Fragrances, Electronics Solvents, and Others. Among these, the Agrochemicals segment of the market dominated the market with more than 50% share in 2021. The market is in a growing phase because is there no substitute for this product as of now and the increasing demand from end user industries such as pharmaceutical and agrochemicals further supports the market growth. Moreover, product innovation in the cosmetic industry such as skin whitening fuels market growth in the future as well.
Global Ethyl Pyruvate Market By Type , 2021(%)
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Ethyl Pyruvate Market Regional Insights
The Asia Pacific held the largest share of the Ethyl Pyruvate market. The Asia Pacific market growth is driven by the agrochemicals industry in the region. The region is projected to be one of the dominant regions in the market attributed to the pharmaceutical development in developing countries. The rate of growth is predicted to be faster due to the rising industrialization across the globe and in countries such as China, India, Japan, Argentina, Mexico, and South Korea. This would result in increased consumption of ethyl pyruvate by application, raising the regional growth rate throughout the projection period. Ethyl pyruvate is a solvent used in the production of agrochemicals such herbicides, fungicides, and insecticides. Ethyl pyruvate can also be used to increase the solubility of pesticides such as neonicotinoids, which are insoluble in water. It is used for pre-emergence weed management. As an intermediate in the production of various chemical molecules such as ethylene diol, pentaerythritol, and synthetic pyridine derivatives.
Global Ethyl Pyruvate Market By Geography, 2021 - 2028
- Largest
- Fastest
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Ethyl Pyruvate Market Dynamics
Ethyl Pyruvate Market Driver
- The Ethyl pyruvate market is expected to be driven by rising agrochemical demand. It is a solvent that is used in the manufacture of agricultural chemicals like fungicides, herbicides, and insecticides. Ethyl pyruvate can also be used to improve the solubility of pesticides that are not water soluble, such as neonicotinoids. It is used in the synthesis of other chemical compounds such as ethylene diol, pentaerythritol, and synthetic pyridine derivatives.
- The market is expected to be driven by the increasing use of Ethyl pyruvate in pharmacology. It's often used in treating burns and burn infections, cardiac surgery, inflammatory disorders (unspecified), ischemic reperfusion injury, sepsis, and septicemia.
- Ethyl pyruvate is used in cosmetic procedures for skin whitening as a safe alternative to hydroquinone. The easy accessibility and affordability are a few factors fuelling the growth of skin whitening procedures and hence, present a golden opportunity for Ethyl pyruvate.
- Ethyl Pyruvate can play an important role in flavoring products by acting as a carrier of other flavor compounds into the finished product.It also provides benefits for certain food applications like sugar-added beverages where it helps maintain sweetness levels with less added sugar than sucrose alone.
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The demand of ethyl Pyruvate in the agrochemical industry is aiding in driving the market . It is a solvent that is used in the manufacturing process of agrochemicals such as herbicides, fungicides, and insecticides. It can also be used to enhance the solubility of pesticides that are not soluble in water like neonicotinoids.
Ethyl Pyruvate Market Restraint
- Growing demand for natural flavoring agents in food owing to rising consumer awareness and health consciousness is anticipated to reduce the growth of artificial flavoring chemicals such as Ethyl pyruvate. The market for natural flavoring agents is on the rise.
- Government laws and regulations requiring compliance with modern environmental standards could pose a significant threat to the market. The basic materials required for industrial ethyl pyruvate manufacturing are readily available in low-cost countries such as China. China is in charge of the majority of global supply delivery and production of Ethyl pyruvate. However, the Chinese government's increased focus on environmental management, as well as the closure of factories that use environmentally unsustainable processes, has had an impact on global Ethyl pyruvate supply, with many downstream companies experiencing inconsistency from their Chinese suppliers.
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Ethyl Pyruvate Market Competitive Landscape
The Global Ethyl Pyruvate market is a relatively niche market. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.
Ethyl Pyruvate Market Top Player's Company Profiles
- Toray Industries Inc (Japan)
- Eastman Chemical Company
- Merck KGaA
- Sigma-Aldrich Co. LLC.
- TCIC (Tokyo Chemical Industry UK Ltd)
- Santa Cruz Biotechnology, Inc.
- Acros Organics B.V.B.A.
- Ruiyuan Flavor Co. Ltd.
- Alfa Aesar, Thermo Fisher Scientific
- Henan Sinotech Import & Export Corporation
Ethyl Pyruvate Key Market Trends
- Ethyl pyruvate is commonly utilized as a solvent or carrier substance in tastes and perfumes. Many chemicals that are not soluble in water, such as ionic ions, polysaccharides, and sugars, have been reported to dissolve in ethyl pyruvate. By functioning as a transporter of other taste compounds into the completed product, ethyl pyruvate can play a key role in flavoring goods. It also has uses in food, such as sugar-added drinks, where it helps maintain sweetness levels with less added sugar than sucrose alone.
- The growing population and changing lifestyles have increased the application of ethyl pyruvate-containing tastes and perfumes.
Ethyl Pyruvate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Ethyl Pyruvate Market Analysis, in terms of application, the Agrochemicals segment of the market dominated the market with more than 50% share in 2021 and is estimated to maintain a similar trend over the forecast period. 99% purity is largely used in applications such as Agrochemicals and pharmaceuticals. 99% purity accounted for a market value of USD 1.43 Billion in 2021 and grew at a CAGR of 7.1 % during the forecasted period. The Asia Pacific held the largest share of the market. The Asia Pacific market growth is driven by the agrochemicals industry in the region. The region is projected to be one of the dominant regions in the market attributed to the pharmaceutical development in developing countries. The rate of growth is predicted to be faster due to the rising industrialization across the globe and in countries such as China, India, Japan, Argentina, Mexico, and South Korea. This would result in increased consumption of ethyl pyruvate by application, raising the regional growth rate throughout the projection period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.16 billion |
| Market size value in 2031 | USD 3.66 billion |
| Growth Rate | 6.7% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ethyl Pyruvate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ethyl Pyruvate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ethyl Pyruvate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ethyl Pyruvate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ethyl Pyruvate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ethyl Pyruvate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Ethyl Pyruvate Market Report Snapshots
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