The chiral chemicals market is set to grow at 16% CAGR between 2020 and 2030, according to a new study by Fact.MR. The growing demand for targeted pharmaceutical offerings and eco-friendly agrochemical products continues to be a key factor driving growth. While the long-term prospects of the market are largely positive, the coronavirus impact on the global chiral chemicals market is expected to be marginal.
“Numerous pharmaceutical companies are pushing to incorporate chiral chemicals in the development and production of varying drug formulations. This trend can be attributed to research efforts and better comprehension about the enantiomers and their effects on biological activities. This will create long-term lucrative opportunities for market players,” says the Fact.MR study.
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Chiral Chemicals Market- Key Takeaways
- Asymmetric preparation methods are reflecting a relatively higher growth rate, owing to its efficacy in diastereomers and enantiomers production.
- Pharmaceutical sector applications account for more than half of the overall revenue share driven by major investments being made in terms of R&D.
- North America is a key market for chiral chemicals manufacturers, driven by tech advancements and the demand for naturally-sourced fragrances.
Chiral Chemicals Market- Driving Factors
- Government initiatives favoring the pharma sector, particularly in developing economies is creating growth opportunities for market players.
- The rising adoption of contract manufacturing processes in the chemical and pharma industries will aid growth.
- Growing popularity of microreactors have aided in efficiency in production, creating opportunities for new players.
Chiral Chemicals Market- Major Restraints
- Higher effort and time required for analysis of enantiomer and impurity in terms of chiral methods for agrochemicals is a challenge to market players.
- Cost and complexity issues in terms of isolation and purification of chiral compounds hold back market developments.
COVID-19 Impact on Chiral Chemicals Market
The effects of the coronavirus pandemic have largely been marginal for the chiral chemicals market. Lockdown restrictions and its disruptive effects on supply chains have been a major concern.
Also, restrictions and social distancing guidelines are expected to hinder production activities in the short term.
On the other hand, the pharmaceutical and agrochemical sectors have largely been unaffected by the pandemic, and as such demand for chiral chemicals has been stable during the crisis. Growth is likely to continue in the post pandemic era, supported by the wide scope of applications.
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Bayer AG, W.R. Grace and Co., Chiral Technologies Inc., Johnson Matthey Plc., Solvay SA, Toray Industries Inc., DowDuPontInc.,Merck KGaA, BASF SE, Codexis Inc., Daicel Corp., and PerkinElmer Inc. are some of the more prominent players operating in the chiral chemicals market.
Market players in the chiral chemicals market have invested in the expansion of portfolios with the investments into research and developmentto widen the scope of applications.
For instance, in August 2020, Japan based RIKEN, announced a collaboration with the Indian Institute of Technology to develop a novel approach to achieve the separation of chiral molecules with the aid of helical supramolecular polymers. Liverpool Chirochem has announced the expansion of its R&D center and headquarters, analytical lab in England and China respectively for a valuation of US$ 2.8 million. Further, Insilico Biotechnology has revealed new methods to improve biological cell productivity to produce chiral compounds from methanol.
About the Report
This study offers readers a comprehensive market forecast of the chiral chemicals market. Global, regional and country-level analysis of the top industry trends impacting the chiral chemicals market is covered in this Fact.MR study. The report offers insights on the chiral chemicals market on the basis of end user (pharmaceuticals, agrochemicals, fine/specialty chemicals, food ingredients, and others), and separation technologies (HPLC, UHPLC, SFC, SMB, and others), flex type (tip flex, mid flex, and full flex), and sales channel (supermarket/hypermarket, sports stores, specialty stores, online stores, and direct procurement) across seven regions (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and MEA).
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