Chiral Chemicals Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global chiral chemicals market is expected to reach USD
119.72 billion by 2024, according to a new report by Grand View Research, Inc.
Rising population coupled with increasing demand for better healthcare
facilities is expected to have a positive impact on the demand over the
forecast period. In addition, increasing government support towards the
development of pharmaceutical manufacturing in developing economies is likely
to augment the demand over the coming years.
The number
of patents related to pesticides and crop
protection chemicals manufactured using chiral chemicals has been
increasing at a rapid pace. Regulatory agencies have become more vigilant on
account of increasing applications of chiral chemicals in agrochemicals. This
has led to increasing government focus towards development of policies for
proper consumption of the product in the agriculture industry. The
Environmental Fate and Effects Division gathers data regarding stereoisomeric
pesticide compounds to determine their toxicity and also prevent the harm
caused by enriched mixtures.
Further key
findings from the report suggest:
- Traditional
separation technology is anticipated to witness a CAGR of about 12.0% from
2016 to 2024. Extensive R&D towards gas chromatography is anticipated
to propel the market growth over the forecast period.
- The asymmetric
synthesis method is likely to witness a CAGR of over 13% from 2016 to 2024
on account of the low cost of the reagents and auxiliaries used. However,
low yield from this process is anticipated to restrain the market
development over the next eight years.
- Flavors and
fragrances application is anticipated to witness considerable growth over
the forecast period. Chiral chemicals possess different fragrances in its
diverse optical forms which are increasingly being utilized by the
cosmetics companies.
- Latin America
is anticipated to witness above average growth rate on account of
increasing pharmaceutical manufacturing in Brazil & Argentina.
Supportive regulatory policies and infrastructure development in the
region is likely to support the pharmaceutical manufacturing in the
region, thereby propelling the demand for chiral chemicals over the
forecast period.
- The global distributors have established joint agreements with local manufacturers to facilitate the supply of chiral chemicals in the respective countries. The emergence of e-commerce as a distribution channel is also impacting the market as numerous end-use industries prefer this channel to get samples and product related information. Basic Chemical Solutions, PRINOVA, and Petrochem Middle East are some of the key product suppliers.
Access full
research report on global chiral chemicals market:
www.grandviewresearch.com/industry-analysis/chiral-chemicals-market
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Created on Oct 21st 2019 05:40. Viewed 315 times.