Chemicals Industry Today

Chiral Chemicals Market Growth Rate anticipated to boost in Presence of Major Manufacturers and Increasing Expenditure on Research & Development

Global Chiral Chemicals Market Information- by Technology (Biological, Asymmetric, and Traditional), by Application (Pharmaceuticals, Agrochemicals, Flavors & Fragrances, and Others) and Region- Forecast till 2023
Published 09 February 2018
The Global Chiral Chemicals Market is categorized on the basis of technology, application, and region. On the basis of technology, the market is bifurcated into biological, asymmetric, and traditional. On the basis of application, the Chiral Chemicals Market is categorized into pharmaceuticals, agrochemicals, flavors & fragrances, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

Key Players
Some of the prominent players operating in the Global Chiral Chemicals Market are Agilent Technologies, Inc. (U.S.), BASF SE (Germany), The Dow Chemical Company (U.S.), Chiral Technologies, Inc. (U.S.), Bachem Holding AG (Switzerland), Daicel Corporation (Japan), Anhui Biochem United Pharmaceutical Co., Ltd. (China), Digital Specialty Chemicals (Canada), Chiral Quest (Suzhou) Co., Ltd. (China), and Albemarle Corporation (U.S.) among others.

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The Global Chiral Chemicals Market is categorized into five regions based on geography, namely–North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Among them, the North America accounted for around 30% market share as of 2016 and is predicted to grow with a healthy CAGR over the assessment period. Asia Pacific market is categorized into China, India, Japan and the Philippines. Aforementioned nations are predicted to drive the demand for chiral chemicals in the upcoming years due to presence of abundant raw materials for drugs manufacturing, resulting in the higher consumption of Chiral Chemicals. Moreover, rising demand for agrochemicals and increasing population in Asia Pacific countries is predicted to fuel the growth of the market owing to food supplement the expanding population. In North America, the Chiral Chemicals Market is predicted to grow with the highest CAGR during the assessment period, 2017 to 2023. High budget allocation for country’s research & development in pharmaceutical drugs manufacturing to reduce the time and costs associated with bringing new medicines to market is the main driver for chiral chemicals highest market growth rate in the region.

European Chiral Chemicals Market is classified into Russia, Germany, U.K, Spain, Italy, and France. Comparatively the U.K and Germany are expected to be the dominant regions on account of increasing healthcare budgets coupled with increasing production from cosmetic industry. Moreover, the strict regulation and policies for manufacturing effective drugs by incorporating chiral separation technologies is anticipated to fuel the demand for Chiral Chemicals over the assessment period. In Latin America, countries such as Brazil and Mexico is expected to witness significant drugs market growth on account of increasing new tropical diseases combined with expansion of pharmaceutical industries. The Middle Eastern countries are focusing to increase yield of the region’s cash crops farming by utilizing Chiral Chemicals to create efficient agrochemicals market over the forecast period.

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