Chiral Chemicals Market Worth About USD 119.72 billion By 2025
What are the Chiral chemicals:
Chiral chemicals are obtained by separating the isomers of racemic compounds
using chromatography as a principal method. The chirality plays an important
role in fragrance and flavor chemistry. The chiral chemicals market is
estimated to grow at a significant CAGR over the forecast period as the scope
and its applications are rising enormously across the globe.
The
factors that are playing a major role in the growth of chiral chemicals market
are rising demand for enhanced healthcare facilities, a government initiative
for the development of the pharmaceutical sector in emerging countries, rising
demand from agrochemical industries. However, strict government policy and
environmental issues on using chiral pesticides may restrain overall market
growth in the years to come. Chiral chemicals industry is segmented based on
technology, application, and region.
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Based on technology, the biological separation method, traditional separation
method, asymmetric preparation method, and others could classify chiral
chemicals in the forecast period. The asymmetric preparation method sector
comprises asymmetric catalysis method and asymmetric synthesis method. The
traditional separation method accounted for the significant market share of
chiral chemicals and is estimated to continue its dominance in the years to
come. The reason behind the overall market growth could be the presence of
enhanced technology. Also, asymmetric preparation sector is estimated to grow
at the fastest pace in the years to come.
The market may be categorized based on applications like
flavors/fragrances, pharmaceuticals, agrochemicals, and others could be
explored in chiral chemicals in the forecast period. The pharmaceutical sector
accounted for the significant market share of chiral chemicals and is estimated
to lead the overall market in the years to come. The reason could be the rising
demand for enantiomerically pure products in pharmaceutical preparations,
extensive R&D, and rising use of enhanced technology.
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Globally,
North America accounted for the substantial market share of chiral chemicals
and is estimated to lead the overall market in the years to come. The reason
behind the overall market share could be the presence of key manufacturers in
this region, technological enhancement, and growing pharmaceutical sector in
Mexico.
Europe
and the Asia Pacific are also estimated to have a positive influence on future
growth. Europe is the second largest region with significant market share.
However, Asia Pacific is estimated to grow at the highest CAGR in the forecast
period. The aspects that may be ascribed to the growth comprise low manufacturing
and labor cost, growing demand for chiral chemicals, and growing foreign
investors in India and China. The developing countries like India and China are
the major consumers of chiral chemicals in this region.
The
key players of chiral chemicals market are Chiracon GmbH, BASF SE, Dow Chemical
Company, Johnson Matthey PLC, PerkinElmer Inc., Solvias AG, W. R. Grace &
Co., Strem Chemicals, Rhodia, Bayer AG, Chiral Technologies, and Codexis Inc.
These players are concentrating on inorganic growth to sustain themselves
amidst fierce competition.
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