Chiral Chemicals Market by Application and Geography - Forecast and Analysis 2021-2025

The chiral chemicals market share is expected to increase by USD 5.89 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 8.5%.

This chiral chemicals market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers chiral chemicals market segmentations by application (pharmaceutical, agrochemical, flavors and fragrance, and others) and geography (North America, APAC, Europe, South America, and MEA). The chiral chemicals market report also offers information on several market vendors, including BASF SE, Codexis Inc., Daicel Corp., Johnson Matthey Plc, Merck KGaA, PerkinElmer Inc., Solvay SA, Strem Chemicals Inc., Toray Industries Inc., and W. R. Grace and Co. among others.

What will the Chiral Chemicals Market Size be During the Forecast Period?

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Chiral Chemicals Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing demand for chiral chemicals from the pharmaceutical sector is notably driving the chiral chemicals market growth, although factors such as high R&D cost for the development of enantiomer separation technologies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chiral chemicals industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Chiral Chemicals Market Driver

One of the key factors driving the chiral chemicals market growth is the increasing demand for chiral chemicals from the pharmaceutical sector. The superior chemical properties of chiral chemicals, such as varying hardness characteristics due to their geometrical properties, and the rise in demand for pure enantiomeric drug formulations in the medical and pharmaceutical industry are expected to drive the market growth further. Chiral chemicals are mainly used in the pharmaceutical industry as antihistamines, antivirals, antibiotics, and antidiabetics as well as for anorexics and cancer therapies. They are also widely used in chemical diagnostics and research applications. The rapid growth of the medical and pharmaceutical industry, especially in North America, due to the increasing geriatric population will propel the market growth. The growth in the investments and increasing number of R&D activities to identify new drug formulations from chiral chemicals will supplement the growth further.

Key Chiral Chemicals Market Trend

High demand for chiral chemicals from the flavors and fragrance industry is the major trend influencing chiral chemicals market growth. Flavors and fragrance is another major application of chiral chemicals, which is witnessing increased use. Menthol, carvone, methyl dihydro jasmonate, and ambergris are some of the most commonly used chiral chemicals in the flavors and fragrance industry. Menthol is terpenoid alcohol with three chiral centers; thus, the formation of eight stereoisomers is possible. It is a major flavor and fragrance agent used in lip balms, cough medicines, decongestants, perfumes, and aftershaves. The chiral chemicals market is expected to grow extensively due to the increase in annual production of menthol from countries such as Brazil, India, and China. Other chiral chemicals such as carvone, sandalwood odorants, and ambergris are used in cosmetics and personal care products. Thus, the high growth rate of the personal care and cosmetic industry is expected to propel the growth of the global chiral chemicals market during the forecast period.

Key Chiral Chemicals Market Challenge

High R&D cost for the development of enantiomer separation technologies is one of the key challenges hindering the chiral chemicals market growth. The global chiral chemicals market is a technologically driven and capital-intensive market. Traditional separation methods, gas chromatography (GC), and asymmetric preparation methods are the major technologies used for enantiomer separation in this market. High investment is required for the R&D of novel technologies for enantiomer separation, thus increasing the overall cost of chiral chemicals. The traditional separation involves manual enantiomer separation, making it a time-consuming method. On the other hand, gas chromatographic methods such as HPLC and TLC are expensive due to the high material investment and equipment costs. This high cost acts as the main entry barrier, hindering the entry of new players to establish their production bases. Thus, increasing the cost involved in R&D activities related to enantiomer separation will significantly hinder the market growth during the forecast period.

This chiral chemicals market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global chiral chemicals market as a part of the global diversified chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chiral chemicals market during the forecast period.

Who are the Major Chiral Chemicals Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• BASF SE
• Codexis Inc.
• Daicel Corp.
• Johnson Matthey Plc
• Merck KGaA
• PerkinElmer Inc.
• Solvay SA
• Strem Chemicals Inc.
• Toray Industries Inc.
• W. R. Grace and Co.

 

This statistical study of the chiral chemicals market encompasses successful business strategies deployed by the key vendors. The chiral chemicals market is concentrated and the vendors are deploying growth strategies such as engaging in continuous R&D to compete in the market.

Product Insights and News

• BASF SE - The company offers chiral chemicals products brands such as ChiPros (R)-1-(1-Naphthyl)ethylamine, ChiPros (R)-1-(3-Methoxyphenyl)ethylamine, and ChiPros (R)-1-(4-Methoxyphenyl) ethylamine.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The chiral chemicals market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Chiral Chemicals Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the chiral chemicals market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Chiral Chemicals Market?

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41% of the market's growth will originate from APAC during the forecast period. China and India is the key markets for chiral chemicals in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Low labor costs and the availability of raw materials to develop chiral chemicals will facilitate the chiral chemicals market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in the region is expected to hinder the growth of the chiral chemicals market in APAC. Several countries, such as China, India, Nepal, Pakistan, South Korea, Malaysia, Sri Lanka, and the Philippines, are under partial or full lockdowns owing to the outbreak of COVID-19. In March 2020, India imposed a complete, nationwide lockdown to prevent the community spread of the disease. Lockdowns and stringent rules on social distancing and isolation affected manufacturing industries in APAC. Production units were either closed or temporarily halted, which negatively impacted the growth of the chiral chemicals market in the region in 2020. However, various industries resumed their operations in late 2020. Thus, barring some logistics and supply chain issues, chiral chemicals were available in late 2020. The growth of the regional market is expected to stabilize during the latter half of the forecast period, with the ongoing vaccination drives following the containment of the COVID-19 pandemic.

What are the Revenue-generating Application Segments in the Chiral Chemicals Market?

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The chiral chemicals market share growth by the pharmaceutical will be significant during the forecast period. Chiral compounds are mainly used in the pharmaceutical industry to manufacture drugs and capsules. The increasing demand for enantiomerically pure drugs in pharmaceutical formulations will drive the demand for chiral chemicals.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the chiral chemicals market size and actionable market insights on post COVID-19 impact on each segment.

 

Chiral Chemicals Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 8.5%
Market growth 2021-2025	$ 5.89 billion
Market structure	Concentrated
YoY growth (%)	7.66
Regional analysis	North America, APAC, Europe, South America, and MEA
Performing market contribution	APAC at 41%
Key consumer countries	US, China, Germany, India, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	BASF SE, Codexis Inc., Daicel Corp., Johnson Matthey Plc, Merck KGaA, PerkinElmer Inc., Solvay SA, Strem Chemicals Inc., Toray Industries Inc., and W. R. Grace and Co.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Chiral Chemicals Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive chiral chemicals market growth during the next five years
• Precise estimation of the chiral chemicals market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the chiral chemicals industry across North America, APAC, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of chiral chemicals market vendors

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