Trifluoroacetic Acid Market Size was valued at USD 0.32 Billion in 2022. The Trifluoroacetic Acid market industry is projected to grow from USD 0.33 Billion in 2023 to USD 0.50 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.27% during the forecast period (2023 - 2032). Increasing demand from important end users like the pharmaceutical industry and the agriculture sector are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rising number of obese people drives Market CAGR for trifluoroacetic acid. It is anticipated that over the projected period, the worldwide trifluoroacetic acid market will expand at a healthy rate. Trifluoroacetic acid (TFA) demand is expected to increase ly due to growing chemical, agricultural, and pharmaceutical demand. Trifluoroacetic acid is crucial in medicinal, agrochemical, and performance products. Numerous additional fluorinated substances, including trifluoroacetic anhydride, trifluoroacetic acid, and 2,2,2-trifluoroethanol, can be made from TFA. Due to its practical properties—volatility, solubility in organic solvents, and acidic strength—trifluoroacetic acid is recognized as a high-performance solvent, catalyst, and reagent.
Additionally, TFA is more easily accessible in anhydrous form than many other acids and is less oxidizing than sulfuric acid. High level of pharmaceutical industry demand In the chemical synthesis used in the pharmaceutical business, trifluoroacetic acid is a useful reagent. It is frequently used as a raw material for important trifluoroacetylating compounds, including ethyl trifluoroacetate, trifluoromethylation processes, and peptide synthesis. Some of the most widely distributed pharmaceuticals include mefloquine (Lariam; antimalarial), fluoxetine (Prozac; antidepressant), celecoxib (Celebrex; COX-2 inhibitor), tipranavir (Aptivus; HIV protease inhibitor), and efavirenz. TFA is most frequently employed in effective peptide sequencing and peptide synthesis. Rising R&D expenditures in the pharmaceutical sector are also anticipated to fuel the expansion of the market. Expansion of the agricultural sector The expansion of the agriculture sector is the key factor driving the demand for trifluoracetic acid on a scale. The pesticides business uses the majority of the TFA that is produced. TFA is a frequently found ingredient in agricultural chemicals such as fungicides, insecticides, and herbicides. A CF3 group produced through TFA is present in about 8.5% of the pesticide entries in the pesticide’s manual. Beflubutamid, flazasulfuron, flonicamid, fluazinam, acrinatrin, picoxystrobin, bifenthrin,diflufenican, sulfoxaflor, pyroxsulam, and prosulfuron are a few examples of common pesticides. Therefore, the expanding agriculture sector is expected to fuel the market expansion during the review period. The uplifting perspective of the drug business in South Asia: Over the following five years, the Southeast Asian drug market is supposed to increase yearly by over 11%, with deals arriving at USD 40 billion in 2020. Accordingly, it has become one of the world's quickest-extending drug markets. The locale rewards drug organizations that can synergize great assembling rehearses (GMP) norms, cutthroat estimating, and a product procedure. Drug organizations in South Asia will benefit from rising medical services spending, a maturing populace, the more noteworthy occurrence of the way of life-related sicknesses, and a rising Gross domestic product per capita. Thailand has the quickest maturing populace on the planet. As indicated by the World Wellbeing Association (WHO), 13% of the populace (10.3 million individuals) is over 60. By 2025, the older will represent 25% of the populace. Thus, driving the Trifluoroacetic Acid market revenue.
The Trifluoroacetic Acid market segmentation, based on type, includes above 99.5% trifluoroacetic acid and others. The above 99.5% trifluoroacetic acid dominated the market, accounting for 66% of market revenue. An essential component in the manufacture of medicinal, agrochemical, and performance products is TRIFLUOROACETIC ACID (TFA). As a Boc deprotecting agent, peptide cleaver, and purification solvent, it is a preferred reagent in synthesizing peptides. It is frequently utilized as a solvent and catalyst for polymerization and condensation reactions. Additionally, it is employed in the production of high-performance coatings.
The Trifluoroacetic Acid market segmentation, based on Application, includes medical intermediates, pesticide intermediates, and others. The medical intermediates generated the most income (70.4%). One of our strongest products is trifluoroacetic acid (TFA), along with its derivatives trifluoroacetic anhydride (TFAA) and ethyl trifluoroacetate (EtTFA). These substances are building blocks for active medicinal components, protective group chemistry reagents, particular cleavage adjustment in peptide synthesis, high-performance coatings, and surface treatments for glass and other surfaces. Therefore, the life sciences sector, as well as non-GMP processing sectors, create demanding needs that require professional consideration.
Figure 1: Â Trifluoroacetic Acid Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Trifluoroacetic Acid market will dominate this market; with growing agricultural production in the region, North America is another important market for ammonia, with the US being the main producer and exporter. It ranks among the top suppliers and producers of agricultural goods. In addition, the expansion of the US agriculture sector and, consequently, the market for trifluoroacetic acid is driven by the rising demand for corn, cereals, and other corn-derived products.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Spain, China, Italy,Japan, India, Australia, South Korea, and Brazil.
Figure 2: Â TRIFLUOROACETIC ACID MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Trifluoroacetic Acid market accounts for the second-largest market share to increased government subsidies, foreign investment, and expanding urbanization. Further, the German Trifluoroacetic Acid market held the largest market share, and in the United Kingdom was the fastest growing in the European area.
The Asia-Pacific Trifluoroacetic Acid Market is expected to grow fastest from 2023 to 2032. This is due to growing infrastructural investments in healthcare and escalating technological proliferation. Over the projection period, the frequency of chronic diseases and the increased demand for early diagnosis will also influence the market potential for trifluoroacetic acid. Moreover, China's Trifluoroacetic Acid market held the largest market share, and The Indian Trifluoroacetic Acid market was the Asia-Pacific region's fastest-growing market.
Leading market companies are extensively spending R&D on increasing their product lines, which will help the Trifluoroacetic Acid market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Trifluoroacetic Acid industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.
Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Trifluoroacetic Acid industry to serve clients and expand the market sector. The Trifluoroacetic Acid industry has provided some of the most important benefits recently. Major players in the Trifluoroacetic Acid market, including BP Plc, and others, are attempting to increase market demand by investing in research and development operations.
BP plc is a British oil and gas corporation headquartered in London, England. It is one of the oil and gas "supermajors" and one of the world's largest corporations in revenue and profit. It is a vertically integrated corporation operating throughout the oil and gas sector, including exploration and extraction, refining, distribution and marketing, power generation, and trading. In October 2020, BP plc has agreed to sell its petrochemical sector to Ineos Group Ltd. Aromatics. Acetyls are two of the company's petrochemical products, and both are manufactured at cutting-edge facilities. It is made up of ten joint ventures and fifteen separate production facilities spread around the world.
Solvay is a scientific firm whose inventions improve many facets of daily living. Their purpose—connecting people, ideas, and elements to reinvent progress—is a call to go beyond, reinvent future forms of development, and generate long-term shared benefits for everybody by harnessing the power of science. In a world with an ever-increasing population and resource scarcity, they want to be the driving force behind the next innovations that will allow mankind to develop while safeguarding the planet they all share. They collaborate with clients and partners to solve now and future megatrends. Solvay, a leader in Materials, Chemicals, and Solutions, uses innovations in aircraft, vehicles, batteries, smart and medical devices, water and air treatment, and other fields to address key industrial, social, and environmental concerns.
May 2021: Biesterfeld Spezialchemie has been granted distribution rights for the CF3 product line of Belgian producer Solvay Special Chem, effective immediately. The agreement covers the drum business for trifluoroethanol (TFE), trifluoroacetic acid (TFA), trifluoromethanesulfonic acid (TA), and trifluoromethane sulfonic anhydride (TAA) in Germany, France, Switzerland, and Austria. Organic fluorinated intermediates are commonly employed as building blocks in the manufacture of agrochemicals, active pharmaceutical ingredients, and other products, including introducing the trifluoromethyl group.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.32 Billion |
| Market Size 2023 | USD 0.33 Billion |
| Market Size 2032 | USD 0.50 Billion |
| Compound Annual Growth Rate (CAGR) | 5.27% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Â Solvay, SRF Limited, Halocarbon LLC, SINOCHEM GROUP CO., LTD., Anhui Jin'ao Chemical Co., Ltd., NANTONG BAOKAI PHARMACEUTICAL CO. Ltd, and Midas Pharma GmbH. |
| Key Market Opportunities | Positive outlook of the pharmaceutical industry in south asia |
| Key Market Dynamics | The demand for TFA anhydride in pesticides is led by shirking agricultural land and increase in demand for food. |
Trifluoroacetic Acid Market Highlights:
Frequently Asked Questions (FAQ) :
The Trifluoroacetic Acid market size was valued at USD 0.32 Billion in 2022.
The Trifluoroacetic Acid market is projected to grow at a CAGR of 5.27% during the forecast period, 2023-2032.
North America had the largest share in the Trifluoroacetic Acid market
The key players in the Trifluoroacetic Acid market are Solvay, SRF Limited, Halocarbon LLC, SINOCHEM GROUP CO., LTD., Anhui Jin'ao Chemical Co., Ltd., NANTONG BAOKAI PHARMACEUTICAL CO. Ltd, and Midas Pharma Gmbh.
The Above 99.5% trifluoroacetic acid dominated the Trifluoroacetic Acid market in 2022.
The medical intermdiates had the largest share in the Trifluoroacetic Acid market.
Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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