2-Methylindole Market - Forecast(2024 - 2030)

The 2-methylindole market size is forecast to reach $450 million by 2030, after growing at a CAGR of 4.5% during 2024-2030. 2-Methylindole is used as a reactant for regioselective synthesis of oxo pyrrolidine analogs. The processes used for this synthesis are Friedel-Crafts alkylation reactions, iodine-catalyzed Markovnikov addition reaction, and Michael addition reactions. There is substantial research and development focused in the field of 2-methylindole. For instance, the production of 2-methylindole through C-H allylation cyclization cascade using ruthenium-catalyzed synthesis. Moreover, pyridines and quinolines are manufactured using a reaction of pyrrole or indoles with carbenes. The other significant research and development in the field of indoles states that, indoles and tetrahydroisoquinolines are considered as structural motifs which display remarkable antitumor activities in compounds such as pharmaceuticals and natural products.

2-methylindole serves as a key intermediate in the synthesis of various chemicals, including pharmaceuticals, fragrances, and dyes. The market is seeing a surge in its usage in these applications, driven by advancements in chemical manufacturing processes, with growing interest in using 2-methylindole for environmental applications such as odor control and wastewater treatment. This trend is expected to drive the market growth in the coming years.

Many industries across the globe have faced several challenges due to the COVID-19 pandemic. The industries such as chemical, food and beverages, and textile including many others have experienced pitfalls. Many projects in such industries have been halted due to an interrupted supply chain and employee shortages due to quarantines. Also, the production and demand in textile industry has declined due to an interrupted supply chain and cessation in transportation of raw material. According to United States International Trade Commission, in 2021, US export of fibres and yarns decreased by 25.6% while apparel export decreased by 22.7%, however in the 74th report by U.S. International Trade Commission published on 2022 states the 2-methylindole market is forecasted to grow at a rate of 4.6% over the period. However, the global pause in industrial production and distribution, the demand and consumption of 2-methylindole has hampered to an extent in several industries as this product is extensively used as a dye stuff intermediate.  

The “2-Methylindole Market Report – Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the 2-methylindole industry.

By Purity: Less than 96%, 96%, and More than 96% 

By Application: Organic Synthesis, Reactant, Flavoring Agent, Fragrance Agent, Dye stuff Intermediate, and Others

By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), and South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East and Africa)

• Asia Pacific is the leading region in the global 2-methylindole market. This growth is mainly attributed to the increased demand for 2-methylindole in chemical and textile industries.  

• 2-methylindole is remarkably used as flavoring agent. The significant growth in demand and production of food and beverages is driving the growth of global 2-methylindole market.

• 2-methylindole plays a significant role as a dye stuff intermediate. The surge in development of global textile industry is providing ample growth opportunities to the market players operating in global 2-methylindole market.

The flavoring agent segment held the largest 2-Methylindole market share in 2023, with a share of over 39.45%. 2-methylindole is extensively used as a flavoring agent in food and beverages industry. During the past few years, flavoring agents have gained traction owing to the increase in demand for fast food and preserved food. The key function of flavoring agent is to add and enhance the taste of food and beverages. The food industry has developed in several aspects owing to the increase in urban population and change in lifestyle which demands for more formalized food supply. Thus, the increase in demand for flavoring agent in food and beverages industry is boosting the demand for 2-methylindole market.     

Asia Pacific held the largest 2-methylindole market share in 2023, with a share of 48.1%. This growth is mainly attributed to the increase in demand for 2-methylindole in several application in this region such as chemical, textile, and flavors and fragrances including many other. The presence of numerous developing countries such as China, India, Indonesia, and Malaysia including others are the major countries supporting the growth of the market. According to Ministry of Textiles, from April to December 2023, textile exports of India grew by 56% compared to 2021 for the same period. Thus, growth in end-use industries in this region is further increasing the demand for 2-methylindole.     

2-methylindole is substantially used as a dyestuff intermediate. The beneficial properties of dyestuff include compatibility with other dyes and chemicals, offers stability, and superior color fastness. Dyeing textile is an essential process for textile processing such as yarn dyeing, garment dyeing, fabric dyeing, and fiber dyeing, etc. Rapid urbanization and high standard of living have increased the demand for textile items resulting in an increase in export levels. For instance, according to China’s Ministry of Industry and Information Technology, in 2023, textile and garment exports from China increased by 9.6% to US$342.32 billion. Thus, an increase in demand for textile items also increases the demand for dyestuff, in turn, fueling the demand for 2-methylindole.    

2-methylindole is extensively used as a flavoring agent in food and beverages industry. Flavoring agents are considered as main food additives with numerous varieties of natural and flavoring agents. It enhances taste and aroma during the food processing. An increase in demand for flavored food and drinks is owed to an increase in population and high demand for fast food and packaged drinks. For instance, according to Food Drink Europe, in Q1 2023, food and drink industry turnover in EU increased by 4.21% compared to previous quarter. Such an increase in demand for food and drink sector on account of growing consumption will increase the production level of food and drinks items resulting in more usage of 2-methylindole as flavoring agent in food and drink sector. This will boost the growth of global 2-methylindole industry growth.

2-methylindole is used in several applications such as flavoring agent, fragrance agent, organic synthesis, and dye stuff intermediate including many others. However, 2-methylindole is sensitive to air and light. It requires specialized storage such as tightly sealed container and need to store in cool and dry containers. It also needs to store under ambient temperatures. Thus, the difficulties in the storage of 2-methylindole may hamper the market growth. 

 

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Wood Pellets market. Major players in the 2-Methylindole Market are: