Chiral Chemicals Market Worth USD 147,668.2 Million by 2030 at 11.25% CAGR – Report by Market Research Future (MRFR)
Chiral Chemicals Market Insights and Industry Analysis by Technology (Traditional Separation Method, Asymmetric Preparation Method, Biological Separation Method) Application (Pharmaceutical, Agrochemical, Flavors and Fragrances, Others) and Region, Competitive Market Size, Share, Trends, and Forecast to 2030
New York, US, May 30, 2022 (GLOBE NEWSWIRE) — Chiral Chemicals Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Chiral Chemicals Market Information by Technology, Application, and Region – Forecast till 2030”, the market is estimated to grow at a 11.25% CAGR to reach USD 147,668.2 Million by 2030.
Market Scope:
A chiral compound is one that exhibits chirality that cannot be superimposed on its mirror counterpart. It consists of a central carbon atom connected to four distinct replacements. Enantiomers refer to both the right- and left-handed forms. In addition to carbon, the stereo center of chiral molecules can also be composed of tetravalent phosphorus and trivalent sulphur compounds. Enantiomers share identical physical features, but rotate in opposite directions. In the pharmaceutical business, chiral compounds are widely used. The pharmacology and effects on biological organisms of chiral compounds utilized in the pharmaceutical business vary due to their superior qualities and effects.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD147,668.2 Million |
| CAGR | 11.25% (2021–2030) |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology and Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Surge in demand from the pharmaceutical industry |
| Biocatalytic synthesis of chiral chemicals |
Competitive Stability:
Numerous market participants seek to manufacture multiple pharmaceutical intermediates. Chiral compounds are essential for the production of enantiomerically pure medicinal compositions. These reasons are anticipated to drive the global market for chiral compounds. In addition, rapid technological improvements in the pharmaceutical industry and substantial research and development activities in both developing and developed areas are anticipated to contribute to the growth of the global chiral chemicals market. The major market players are:
- BASF (Germany)
- Solvias AG (Germany)
- Stern Chemicals, Inc. (United States)
- Johnson Matthey Plc (United Kingdom)
- W. R. Grace & Co.-Conn. (US)
- Chiral Quest (Suzhou) Co.Ltd. (China)
- Tyche Industries Limited (India)
- Nanjing Legend Pharmaceutical (China)
- The Dow Chemical Company (US)
- Flamma S.p.A. (Italy)
Market Dynamics
Market Drivers:
Chirality plays a crucial role in medication synthesis and development. More than fifty percent of currently prescribed medications are chiral chemicals. Their interaction with biological targets such as proteins, nucleic acids, and biomembranes determines the majority of the pharmacological activity of medicines. Chiral medications include glucuronide, tramadol, capreomycin, glutathione, ketamine, thiopentone, isoflurane, enflurane, desflurane, atracurium, mepivacaine, bupivacaine, atropine, isoproterenol, paracetamol, levocetirizine, and dobutamine. Consequently, the expansion of the worldwide pharmaceutical sector and the rising demand for pharmaceuticals are anticipated to drive the growth of the global chiral chemicals market throughout the forecast period. It is anticipated that a focus on generating safer and more effective medications with more therapeutic value will drive R&D for the creation of new technologies. Continual technical innovation, which is essential for the mass production of chiral compounds, is anticipated to drive the market over the forecast period.
Market Limitations:
Because 25% of pesticides contain chiral compounds, the harmful impacts of pesticides on the environment are becoming more widespread. The increasing number of patents on chiral pesticides and other agrochemical products has compelled regulatory agencies to evaluate the ecotoxicity of chiral pesticides. In addition, the above-mentioned pesticides and herbicides have unknown ecological risks that cause issues for both humans and the environment.
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COVID-19 Analysis:
The COVID-19 epidemic has had a substantial influence on global chemical and material supply networks, international trade, and manufacturing processes. As a result of a global lockdown, production facilities have experienced disruptions. To prevent the spread of COVID-19, market participants have had to shut down manufacturing facilities or operate them below their optimal production capacities. This has resulted in severe manufacturing disruptions and trade restrictions, greatly hurting the market’s supply of chiral chemicals.
Pharmaceuticals and agrochemicals cannot be produced without chiral compounds. Since these businesses fall under the category of essential services, some of the major players have continued operations at their manufacturing facilities while implementing preventative measures such as social distancing, remote working, and travel restrictions. In light of the worldwide situation, numerous nations have eased limitations on the distribution of chiral chemicals. Moreover, numerous firms have prioritized the creation of novel anti-COVID-19 devices.
Market Segmentation:
By Technology
The classic separation approach is anticipated to maintain its market dominance. Traditional separation includes manual separation of isomers and resolution of racemates after diastereomers.
Nevertheless, the asymmetric preparation approach is anticipated to grow at a higher CAGR throughout the forecast period. This can be ascribed to the growing demand for enantiomers and diastereomers having distinct biological activity in pharmaceutical applications. The asymmetric catalysis method is the most prevalent and fastest-growing technology for asymmetric preparation due to its low cost and high yield.
By Application
Throughout the forecast period, the pharmaceutical segment is anticipated to account for a considerable portion of the worldwide chiral compounds market. With the improvements in enantioselective analytical chemistry for the discovery of new pharmaceuticals and therapeutics, this segment is anticipated to grow at a rapid rate throughout the forecast period.
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Regional Evaluation:
Geographically, North America is anticipated to lead the global market for chiral chemicals due to the region’s rapid technological development. Increasing demand for natural fragrances, the expansion of the pharmaceutical industry, and the presence of a large number of producers and market participants may all contribute to the expansion of the chiral chemicals market in this region.
Due to rising foreign investments in China and India, the Asia-Pacific region is expected to experience the fastest growth over the period under review. Low production costs resulting from inexpensive labor attract pharmaceutical producers to these countries, hence increasing product demand. In addition, increasing research and development on the creation of novel medications for the treatment of uncommon diseases is anticipated to drive market expansion.
In Europe, countries such as Germany and Switzerland with a large number of pharmaceutical manufacturing enterprises drive the industry. The increasing number of contract manufacturing facilities in Eastern Europe is anticipated to improve product demand in this region.
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