Anthracene Market to Reach USD 625.6 Million by 2034 Amid Growing Demand for Anti-cancer Drugs and Rising Middle-class Population | Future Market Insights, Inc.

Anthracene, a solid polycyclic aromatic hydrocarbon (PAH) with the formula C14H10, is composed of three fused benzene rings and is commonly found in coal tar. It is widely used in the production of red dye alizarin, insecticides, anti-cancer agents, wood preservatives, and organic light-emitting diodes (OLEDs).

/EIN News/ -- NEWARK, Del, July 08, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the worldwide anthracene market is expected to reach USD 395.2 million in 2024 and USD 625.6 million by 2034. The market is projected to rise at a CAGR of 4.7% by 2034.

With improved technology in coal-based plants and wood-based industries, the anthracene market is expected to benefit from increased availability of raw materials and supply. Demand for anthracene is expected to grow during the forecast period due to stringent quality, performance, and environmental standards.

Low- and middle-income nations are expected to experience a surge in cancer cases, with an estimated 30 million more cases worldwide by 2040. This increase in cancer patients is driving demand for anti-cancer agents, leading to a rapid growth of the anthracene market.

Click Here to Request Your Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-19743

Anthracene is extensively used in the agriculture sector as an herbicide, insecticide, and fungicide. As the world population grows, more crops are produced to provide food for people. Pesticides are being extensively used during crop production to improve yield and provide proper nutrients. As a result, demand for pesticides is driving the anthracene market in the agriculture sector.

Key Takeaways from the Anthracene Market Report:

• The anthracene industry is expected to reach a value of USD 625.6 million by 2034.
• The market is projected to surge at a CAGR of 4.7% by 2034.
• China's anthracene market is expected to grow at a CAGR of 5.3% by 2034.
• In terms of product type, the crude anthracene segment is set to account for a 71.3% share in 2024.
• Based on the end-use industry, the textile segment is expected to hold a market share of 26.7% in 2024. 
  
  

"Anthraquinone derivatives are vital in the development of anticancer drugs due to potency in treating hematological and solid tumors. Cancer is a leading cause of death worldwide, with an estimated 10 million deaths and 20 million new cases in 2023. By 2040, the cancer burden is expected to rise by 60%, driving demand for anthracene in the healthcare sector." – says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

Competition Outlook

SAE Manufacturing Specialties Corp, KANTO CHEMICAL CO., INC, Junsei Chemical Co., Ltd., Kishida Chemical Co., Ltd., Fisher Scientific, Tokyo Chemical Industry Co., Ltd., Anward, CHEMOS GmbH & Co. KG, and Vitas-M Laboratory Ltd. are the key manufacturers in the industry. The anthracene market is highly competitive due to numerous key competitors.

Manufacturers use inorganic growth techniques such as acquisitions, mergers, and regional expansion to gain market share and a competitive edge. Key strategies used by leading companies include technology launches, acquisitions, and research activities.

Industry Updates-

• In 2023, Researchers discovered intermolecular hydrogen bond's role in separating and purifying structurally similar compounds, including aromatic hydrocarbons from coal tar, using carbazole and anthracene as intermediates.
  
  

Contact Sales for Further Assistance in Purchasing this Report! https://www.futuremarketinsights.com/checkout/19743

Anthracene Market Drivers

Increasing Prevalence of Cancer Patients

The increasing prevalence of cancer patients is driving the demand for anthracene-based anti-cancer agents, contributing to the growth of the anthracene market. This rise in demand is pivotal in advancing research and production efforts within the pharmaceutical industry.

Soaring Demand from the Agriculture Industry

The agriculture industry is experiencing a soaring demand for anthracene-derived insecticides, further propelling market expansion. The effectiveness of these insecticides in enhancing crop protection and yield underscores their growing importance in modern agricultural practices.

Key Segments of Market Report

By Product Type:

As per product types, the sector has been categorized into crude and refined anthracene.

By Grade:

Based on grades, the sector is split into pharmaceutical and industrial grades.

By End-use Industry:

In terms of end-use industries, the business is segmented into textiles, paints and coatings, pharmaceuticals, chemicals, and others.

By Region:

Business analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.

Report Preview: https://www.futuremarketinsights.com/reports/anthracene-market

Authored by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI's Extensive Coverage in the Chemicals & Materials Domain:

The ethylbenzene market size is likely to be valued at US$ 23,053.6 million in 2024. The market is put forward to progress steadily through 2034, with a CAGR of 3.5%. Valuation of the industry is estimated to be US$ 32,508 million by 2034.

The global monochlorobenzene market share is slated to reach US$ 1,915.1 million in 2023 and is expected to accumulate a market value of US$ 2,701.5 million by registering a CAGR of 3.5% in the forecast period 2023 to 2033.

Technological advancements & process innovations, bolster the overall scope for cyclohexylbenzene market, which is projected to grow at a CAGR of 5.0% between 2023 and 2033, totaling around US$ 716.5 million by 2033.

Future Market Insights (FMI) offers in-depth analysis on the 1,4-Dicyclohexylbenzene market demand in its latest report. Growth forecast remains positive for the market as sales is predicted to rise by 3.7%, annually through 2031.

The global refinery process chemical market growth is projected to reach USD 5969.7 million in 2024. The sector is anticipated to grow at a CAGR of 5.2% during the forecast period.

The global refinery catalyst market sales is anticipated to witness a considerable growth of 4.6% CAGR during the period 2022 and 2030.

The global market for high performance refinery additives revenue is projected to worth US$ 2.2 billion in 2023. The market is likely to surpass US$ 3.3 billion by 2033 at a CAGR of 4.2% during the forecast period.

The refinery and petrochemical filtration market sales is estimated to rise from US$ 5.6 billion in 2024 to US$ 11.7 billion by 2034. The refinery and petrochemical filtration industry is anticipated to rise at a CAGR of 7.60% during the forecast period.

Over the forecast period 2024 to 2034, global chemical recycling service demand is anticipated to rise at 25.8% CAGR. Total market value is predicted to increase from US$ 15.71 billion in 2024 to US$ 149.24 billion by 2034.

The chemical testing services market demand is anticipated to flourish at an average CAGR of 5.4% between 2023 and 2033. The market is expected to hold a share of US$ 52.19 billion by 2033, while the market is likely to reach a value of US$ 30.84 billion in 2023.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the United Kingdom, the United States, and India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact Us

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube