Chiral Chemical Market: About the Report
Increasing applications and importance of the role that chirality plays in the pharmaceuticals sector is fueling the demand for chiral chemicals across the world. The global market for chiral chemicals is expected to witness incremental growth in the coming years with the rise in investments in the chemical sectors, especially in emerging economies. This latest report with 2020-2030 forecast explores the factors that will influence chiral chemicals market growth in the years to come.
Chiral Chemical Market: Overview
While the developing countries are heavily contributing to the growth of the chiral chemical market, leading companies are also focusing on consolidating their position in developed regions, mainly in Europe. Governments’ strategies to encourage the development of biochemical is expected to create lucrative opportunities for chiral chemical manufacturers in these regions.
Among the prominent dynamics that play a significant role in fueling the chiral chemicals market growth, growing profitability of contract manufacturing in the pharmaceuticals sector is expected to create a favourable condition for players. This is expected to trigger most businesses to adopt indirect growth strategies to establish a competitive edge in the chiral chemicals market in the coming years.
Manufacturers are mainly focusing on mutually beneficial collaborations along with restoring their supply chains in the post-pandemic period. Despite the current slowdown in business and downturn of industrial activities worldwide, the chiral chemicals market is expected to grow at nearly 16% annual compound growth rate during 2020-2030.
Chiral Chemicals Market Insights by End-user
Based on the end use of chiral chemicals, the global market is mainly segmented into two categories - pharmaceuticals and agrochemicals. Bolstering growth of the pharmaceuticals industry is expected to provide an impetus to the demand for chiral chemicals in pharmaceutical applications.
Leading players in the pharmaceutical industry are creating new strategies that highlight the importance of obtaining enantiomeric purity of their products. This is expected to further boost the demand for chiral chemicals in this space. As a result, the consumption of chiral chemicals in pharmaceutical applications is expected to account for nearly three-fourth of the overall consumption across all end use segments in the market.
Chiral chemical manufacturers are also expected to capitalize on the significant rise in demand across the agrochemicals sector. The growth is mainly driven by the shifting focus on producing environmentally friendly agricultural chemicals, and ultimately, this will reflect in growing market share of this segment in the global chiral chemicals space. Thereby, leading players are expected to capitalize on the opportunities created by the rising production of eco-friendly herbicides, fungicides, pesticides, plant growth regulators, and other types of agrochemicals.
Chiral Chemical Market by Separation Technique
Three main methods are considered while segmenting the chiral chemicals market based on technology - traditional separation method, asymmetric preparation method, and biological separation method. A majority of market players are still preferring the traditional separation method as it accounts for nearly half the market share, and it is likely to remain unchanged in the coming years.
However, a mounting number of emerging players are bolstering their research & development efforts to explore the new aspects of the biological separation method in order to gain an edge in the market. This effort is mainly driven by the growing preference of developing more effective yet safer products in the pharmaceutical industry. Consequently, the adoption of biological separation methods in the chiral chemical market is expected to grow at the rate of over 13% during the forecast period.
Regional Outlook for Chiral Chemical Market
Based on the geographical regions, the chiral chemical market is broadly segmented into seven regions - North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific region is expected to register fastest growth in the chiral chemical market with the high potential for manufacturing profitability and local demand across end users.
China is leading the chiral chemical market in the Asia Pacific with the increasing growth of the regional pharmaceutical industry and speedy development of novel drugs in the country. The region is expected to continue to remain the fastest growing market in the global chiral chemical market, attributing to the accelerating emergence of local stakeholders in the pharmaceutical and agrochemical industry in Asia Pacific - mainly in China and India.
North America and Europe will continue to dominate with the massive market share of local players in the chiral chemical space. Favourable government policies of the production of biocatalysts are the primary factor boosting the market growth and players will continue to capitalize on those. Furthermore, the rapidly growing number of pharmaceutical manufacturers in these regions will also add to the potential for growth in developed markets for chiral chemicals in the coming future.
Chiral Chemical Market: Key Players
A majority of leading players in the chiral chemical market focus on developing innovative technologies through research & development to boost production of enantiomerically pure chemicals. Furthermore, vendors are also focusing on capitalizing on the fast-growing segments and end users such as pharmaceutical and agrochemical manufacturers. Growing production of numerous pharmaceutical intermediates is expected to influence major strategies of prominent players in the chiral chemicals market in the coming years.
In addition, collaborative agreements among market players for expanding their manufacturing capacities as well as distribution networks worldwide is expected to be on the rise. Manufacturers are expected to focus on producing application-centric products and establish lucrative tie ups across major end-use industries to gain a competitive advantage in the chiral chemicals market.
Leading players in the global chiral chemicals market include Bayer AG, Chiral Technologies Inc., Solvay SA, DowDupont Inc., BASF SE, Daicel Corp., PerkinElmer Inc., Codexis Inc., Merck KGaA, Toray Industries Inc., Johnson Matthey Plc, and W. R. Grace and Co.
The Analyst’s Viewpoint
“Despite the lucrative growth opportunities presented by developing markets such as Asia Pacific, developed countries will hold a large share in the global chiral chemicals space. In 2020, North America and Europe accounted for the valuation of around US$ 8 billion in the global chiral chemical market, and it is likely to grow twice larger in the coming decade. With technological advantage and manufacturing profitability, players can consolidate their positions in developed markets for chiral chemicals.”
COVID-19 Impact on the Chiral Chemical Market
The coronavirus pandemic has mainly impacted the global supply chains for all industrial areas, the chiral chemicals market is no exception. Manufacturers are facing hurdles in breathing into new life with the uncertainties of socioeconomic and geopolitical situations.
However, the growth of the pharmaceutical industry has remained unwavered during this time, and this is becoming the stepping stone for chiral chemical market players to restore their operations in the coming future. Reporting to technological advancements and establishing local supply chains are expected to help manufacturers boost their operations as well as revenues in the market post this pandemic.
Fact.MR has published a detailed analysis on how the chiral chemical market is likely to grow during the forecast period of 2020 to 2030. The report provides a complete overview of important growth drivers and considerable trends that will define the potential development in the chiral chemical market.
The Fact.MR study on the chiral chemicals market comprises a detailed scrutiny of major threats, challenges, opportunities, as well as regulatory framework of regional and global market for chiral chemicals. It can help readers to understand how the outlook of the market will change in the coming decade based on all these important parameters.
Readers can find a separate section in the Fact.MR report that offers analysis of market dynamics that define the growth prospects of the chiral chemical market in various geographical regions. Based on this extensive assessment of trends and opportunities in the chiral chemical market, market players can easily derive actionable strategies that will ultimately lead to improved productivity and better execution of best business practices.
Chiral Chemicals Market: Report Summary
Fact.MR report offers a detailed analysis on the current growth parameters and factors that may impact the potential for development in the global chiral chemical market. It highlights the product features, sales potential, and strategies for revenue generation that must be implemented for attaining positive growth in the chiral chemical market throughout the forecast period.
The report takes into consideration the factors that are currently driving the market growth and other geopolitical, regional, economic, and social factors that may influence upcoming trends in the chiral chemical market. The report also discusses the current and future market trends in the chiral chemical market based on various segments in the market to assess different price points.
Chiral Chemical Market: Segmentation
The Fact.MR report provides complete information about the market overview and comprehensive projections on the chiral chemical market based on the end use, technology, and geographical regions.
Key Questions Answered in Fact.MR’s Report on the chiral chemical Market
- Which region will prove to be lucrative for global suppliers?
- Which technology will remain most preferred about manufacturers during the forecast period?
- What challenges should manufacturers consider before entering the Asia Pacific market for chiral chemicals?
- Which companies have large market shares in the global chiral chemicals space?
- Which were the successful strategies adopted by market leaders in the recent years?
Chiral Chemical Market: Research Methodology
An experienced team of business analysts and consultants from Fact.MR have drawn insights from a comprehensive study on the existing market dynamics. Government reports and statistics along with various white papers have been used as a reliance resource for getting the clarity of current geopolitical scenarios in the global chiral chemical market. As a part of the primary research during the production of the Fact.MR report, our analysts have interviewed CXOs of the leading market players, including product managers, CEOs, VPs, finance managers, and more to get the idea of the competitive landscape of the chiral chemical market.
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