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2-Nitrothiophene market was valued at US$ 28,550.2 million in 2023 and is poised to grow at a CAGR of 2.8% over 2024-2030. 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.
Study Period
2024-2030Base Year
2023CAGR
2.8%Largest Market
North AmericaFastest Growing Market
Asia Pacific
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.
The North America 2-nitrothiophene market is poised to grow at 2.6% CAGR over the forecast period owing to robust pharmaceutical industry with a strong focus on research and development in the US and Canada. Furthermore, the sizable demand for 2-Nitrothiophene and its derivatives in the region's agriculture sector, which includes the manufacture of pesticides and herbicides is anticipated to propel the market demand. Additionally, the dominance of North America may be attributed to the region's established suppliers and producers of 2-Nitrothiophene. The USA dominates the regional market and is projected to grow at 2.8% CAGR over 2023 – 2029.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 28,550.2 million |
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Market CAGR |
2.8% |
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By Grade |
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By Application |
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By Region |
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The 2-nitrothiophene market was valued at US$ 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.
| 1.Executive Summary |
| 2.Global 2-Nitrothiophene Market Introduction |
| 2.1.Global 2-Nitrothiophene Market - Taxonomy |
| 2.2.Global 2-Nitrothiophene Market - Definitions |
| 2.2.1.Grade |
| 2.2.2.Application |
| 2.2.3.Region |
| 3.Global 2-Nitrothiophene Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global 2-Nitrothiophene Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global 2-Nitrothiophene Market By Grade, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Technical Grade |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Other |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global 2-Nitrothiophene Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Thiophene Products |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Pharmaceuticals |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Agrochemical |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Dyes and Pigments |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7.Global 2-Nitrothiophene Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America 2-Nitrothiophene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Grade Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Technical Grade |
| 8.1.2.Other |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Thiophene Products |
| 8.2.2.Pharmaceuticals |
| 8.2.3.Agrochemical |
| 8.2.4.Dyes and Pigments |
| 8.2.5.Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe 2-Nitrothiophene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Grade Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Technical Grade |
| 9.1.2.Other |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Thiophene Products |
| 9.2.2.Pharmaceuticals |
| 9.2.3.Agrochemical |
| 9.2.4.Dyes and Pigments |
| 9.2.5.Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 10.Asia Pacific (APAC) 2-Nitrothiophene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Grade Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Technical Grade |
| 10.1.2.Other |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Thiophene Products |
| 10.2.2.Pharmaceuticals |
| 10.2.3.Agrochemical |
| 10.2.4.Dyes and Pigments |
| 10.2.5.Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) 2-Nitrothiophene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Grade Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Technical Grade |
| 11.1.2.Other |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Thiophene Products |
| 11.2.2.Pharmaceuticals |
| 11.2.3.Agrochemical |
| 11.2.4.Dyes and Pigments |
| 11.2.5.Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America 2-Nitrothiophene Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Grade Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Technical Grade |
| 12.1.2.Other |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Thiophene Products |
| 12.2.2.Pharmaceuticals |
| 12.2.3.Agrochemical |
| 12.2.4.Dyes and Pigments |
| 12.2.5.Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.TCI (Japan) |
| 13.2.2.Anvia Chemicals (USA) |
| 13.2.3.Alfa Aesar (USA) |
| 13.2.4.Apollo Scientific (United Kingdom) |
| 13.2.5.3B Scientific (Germany) |
| 13.2.6.Waterstone Technology (USA) |
| 13.2.7.Alli Chem LLC (USA) |
| 13.2.8.Acros Organics (USA) |
| 13.2.9.J & K Scientific (China) |
| 13.2.10.Meryer (Shanghai) Chemical Technology (China) |
| 13.2.11.Kanto Chemical (Japan) |
| 13.2.12.Kaifute (Tianjin) |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.