Chiral Chemicals Overview
The growth of the global chiral chemicals market is thriving on the back of increasing worldwide demand for specialty and agrochemicals in the end user industries. In addition to that, increasing investments of manufacturers in the emerging economies around the world coupled with rising focus of the government of nations on manufacturing of pharmaceutical products are some of the notable factors that are promoting significantly towards the growth of the global chiral chemicals market.
The global chiral chemicals market reached a value of around USD 48 billion in the year 2018 and is expected to garner a value of around USD 100 billion by the end of 2025 by registering a CAGR of around 12% across the globe over the forecast period 2019-2025. Further, the worldwide market of chiral chemicals is anticipated to achieve an absolute $ opportunity of around USD 50 billion during the forecast period.
Growth Highlights based on Region during 2018-2025
The global chiral chemicals market is segmented by regions into North America, Latin America, Europe, Asia Pacific and Middle East and Africa. Among these regions, the market of North America chiral chemicals market is driven primarily by the U.S. and Canada, where U.S. held the largest market share of around 79% in the year 2018. Additionally, the North America chiral chemicals market is expected to expand by observing the growth rate of 1.90x over the forecast period, which in turn is estimated to have a positive effect on the demand for chiral chemicals in the long run. Further, the chiral chemicals market in North America held a market share of around 36% in the year 2018 and is expected to cross a value of around USD 37000 million by the end of 2025.
On the other hand, Germany, U.K. and France are the prominent countries that are driving the growth of the Europe chiral chemicals market, where Germany accounted for the largest market share of around 25% in the year 2018.
The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Market Segmentation Synopsis
By Method
The global chiral chemicals market has been segmented on the basis of method into traditional separation, biological separation, asymmetric preparation methods and others. The traditional separation method with around 47% share in the year 2018, occupies the largest market of chiral chemicals across the globe. Additionally, the traditional separation market is anticipated to cross a value of around USD 48000 million by the end of 2025 by registering a CAGR of around 11% over the forecast period. Further, the biological separation method is anticipated to grow with a significant CAGR over the forecast period.
Market Drivers and Challenges
Growth Indicators
Healthcare infrastructure around the world have increased massively over the years. The government of the nations are increasingly investing on R&D activities, especially in the pharmaceutical industry for the identification of new drug formulations from several new chemical compounds, one such being the chiral chemicals, which are used massively nowadays as antihistamines, antivirals, in cancer therapies and several others, apart from chemical diagnostics and research applications. Additionally, pharmaceutical manufacturers prefer using chiral chemicals owing to their superior chemical properties generated by the geometrical and superimposable properties, along with the increasing demand for pure enantiomeric drug formulations in the medical and pharmaceutical industry. Apparently, increasing demand for medicines generated by the rising geriatric population around the world, which is also raising the necessity of pharmaceutical manufacturers to increase the production of medicines, coupled with the increasing demand for chiral chemicals from the flavors and fragrance industry are some of the factors anticipated to drive the growth of the global chiral chemicals market.
Barriers
Several nations around the globe have imposed restrictions with the use of chiral chemicals which is anticipated to hamper negatively towards the growth of the global chiral chemicals market.
Top Featured Competitive Landscape
Some of the affluent industry leaders in the global chiral chemicals market are Bachem AG, BASF SE, The Dow Chemical Company, Solvias AG, Johnson Matthey, W.R. Grace & Co.-Conn., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Albemarle Corporation and Alps Pharmaceutical Ind. Co., Ltd.
