Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The worldwide market for chiral chemicals, a type of special chemical, was valued at $58.8 billion in 2021. Experts predict it will grow at an annual rate of 11.25% and reach a whopping $147.7 billion by the end of 2030. In simpler terms, this means that the market for these special chemicals is expected to more than double in size over the next decade.
When it comes to the quantity of these chemicals, which is measured in kilotons, the market started at 22,100.1 kilotons in 2021 and is projected to increase to 50,750.9 kilotons by 2030. This indicates a significant rise in the demand for these chemicals globally.
The main reason for this growth is the increased use of chiral chemicals in medicine, particularly in the production of pharmaceutical drugs. As more and more people need medication, and as countries work to improve their pharmaceutical industries, the demand for these special chemicals has gone up. Additionally, supportive government policies in developing countries have encouraged the growth of the pharmaceutical manufacturing sector. This, in turn, has led to an increase in the production of generic drugs, further boosting the chiral chemicals market.
However, there's a downside to this growth. The use of chiral chemicals in pesticides has raised environmental concerns. Currently, about a quarter of pesticides are chiral-based. But as these chemicals become more widespread in pesticides, governments are focusing on developing policies to ensure their proper use. This highlights a challenge for the market as it continues to expand.
The global chiral chemicals market can be broken down into different categories based on technology, application, and region. In terms of technology, there are three main types: traditional separation, asymmetric separation, and biological separation. Traditional separation, the oldest method, is currently the most popular, making up almost half (47.68%) of the market in 2021. On the other hand, asymmetric separation is expected to grow the fastest, with a predicted annual growth rate of 11.47%.
Looking at applications, chiral chemicals are mainly used in pharmaceuticals, agrochemicals, and flavors and fragrances. Pharmaceuticals lead the pack, accounting for 67.02% of the market in 2021. The increase in demand for agrochemicals, driven by a decrease in available farmland, is also expected to positively impact the global chiral chemical market.
In terms of regions, the market is divided into North America, South America, and Asia-Pacific. North America takes the lead, making up 32.66% of the overall market. This is primarily due to the high number of drug manufacturing companies in the region and substantial investments in research and development by pharmaceutical manufacturers. By the year 2030, the North American market is predicted to reach a value of $49.04 billion.
In summary, the global market for chiral chemicals is growing significantly, driven by increased demand in the pharmaceutical and agrochemical industries. However, environmental concerns related to their use in pesticides pose a challenge to this growth. Traditional separation methods dominate the market, but asymmetric separation is expected to grow the fastest. North America is currently the leading region, and this trend is expected to continue in the coming years.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 60.9 Billion |
| Market Size Value In 2023 | USD 67.75 Billion |
| Growth Rate | 11.25% (2023-2032) |
Chiral Chemicals Market Highlights:
Global Chiral Chemicals Market Overview
Chiral Chemicals Market Size was valued at USD 67.75 Billion in 2023. The Chiral Chemicals industry is projected to grow from USD 75.37 Billion in 2024 to USD 158.97 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.78% during the forecast period (2024 - 2032). Increased need from the pharmaceutical sector and development in chemical industries are the key market drivers contributing to market growth and development.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Chiral Chemicals Market Trends
-
Growing need from the pharmaceutical sector is driving the market growth
The rising need from the pharmaceutical sector drives the market CAGR for chiral chemicals. Chiral compounds play an important role in medication production and development. Over fifty percent of the medications in use today are chiral chemicals. The interaction of medications with targets in biology, such as nucleic acids, proteins, and membranes, determines their pharmacological activity. As a result, the pharmaceutical business's expansion and rising medicine demand will likely drive the development of the worldwide chiral chemicals industry throughout the projected timeframe.
Additionally, chiral compounds are a class of chiral synthons used in producing goods, pharmaceuticals, agricultural chemicals, and various other non-pharmaceutical uses. The traditional synthetic technique could be more efficient in terms of material utilization. It necessitates the use of an abundance of organic solvents that contain very hazardous metals, leading to an energy-intensive expenditure. Implementing biocatalytic benefit technology will bring the chemical sector to the frontline of growth in the economy of the nation as a whole. Pharmaceutical manufacturing is the most common use for chiral compounds. Chiral compounds employed in the pharmaceutical business differ in pharmacological and their impact on biological creatures due to their impacts and superior qualities.
The COVID-19 epidemic has substantially influenced chemical and materials supply networks, trade, and manufacturing processes. Manufacturing operations have been disrupted as a consequence of a shutdown. To prevent the spread of COVID-19, market participants have had to stop manufacturing facilities or run them at less-than-ideal capacity. This has resulted in substantial interruptions in manufacturing and trade restrictions, impacting the availability of Chiral Chemicals entering the marketplace. Chiral Chemicals are essential in the manufacture of medicines and agrochemicals. Because these sectors fall under vital services, several major players have maintained manufacturing at their locations while taking precautionary precautions and applying limitations on travel. Looking at the worldwide picture, several countries have relaxed limitations and made it easier to get Chiral Chemicals. Furthermore, several firms have concentrated on producing novel products to combat COVID-19.
For instance, agriculture and food-related businesses in the United States produced around 5.2% of the total GDP in 2020, based on the US Ministry of Agriculture. In addition, according to UK national data, seed output is expected to expand by 17% in 2020, whereas protection for plant manufacturing is expected to rise by 10%. Also, OECD reports that the total worth of farm output in Japan in 2019 was USD 84,162 million, a 2.63% increase from USD 81,999 in 2018. This will increase the need for chiral chemicals further. Thus, it is anticipated that demand for Chiral Chemicals will increase throughout the projection timeframe due to the rising need from the pharmaceutical sector. Thus, driving the Chiral Chemicals market revenue.
Chiral Chemicals Market Segment Insights
Chiral Chemicals Technology Insights
The Chiral Chemicals market segmentation, based on technology, includes traditional separation method, asymmetric preparation method, and biological separation method. The traditional separation method segment dominated the market, accounting for 51% of market revenue (USD 31.1 billion) in 2022. Traditional separation involves manually separating isomer and racemate settlement following diastereomerization. The asymmetric Preparation Method is expected to grow and expand rapidly during the projected timeframe. Growing preference for pharmaceutical applications that need the production of enantiomers and diastereomers with varied biological activity because of the asymmetric preparation procedure's high yield and cheap cost.
Figure 1: Chiral Chemicals Market, by Technology, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Chiral Chemicals Application Insights
The Chiral Chemicals market segmentation, based on Application, includes pharmaceutical, agrochemical, flavors and fragrances, and others. The pharmaceutical category generated the highest market revenue of about 62% (USD 37.8 billion) in 2022. The market for chiral compounds in this application area is expected to be propelled by the desire for enantiomerically pure substances in formulations for medicine in the pharmaceutical sector. Agrochemicals are expected to grow and expand significantly during the projected timeframe. The expanding population, in addition to a focus on enhancing the productivity of crops, is expected to boost product demand for agricultural chemicals in the future. Rising demand for sustainable agrochemicals that concentrate on certain aspects of plant health will broaden the application potential for chiral compounds in the agrochemicals category.
In 2017, Phenomenex Inc., a global leader in the discovery and manufacture of breakthrough technologies for the separation sciences, expanded their Lux chiral LC/SFC column family with new immobilized Lux 5µm and Lux 3µm i-Amylose-1 media. During the production of Lux immobilized media, a chemical crosslinking occurs between the polysaccharide and the silica support, resulting in a strong column that can survive a variety of powerful solvents such as DMSO, THF, Ethyl Acetate, and DCM.
Chiral Chemicals Regional Insights
By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Chiral Chemicals market will dominate during the projected timeframe, owing to technical breakthroughs and the presence of an established number of major enterprises, and increased demand for organically produced perfumes is expected to drive market development. In addition, the growing number of established pharmaceutical production firms will boost market growth in this region.
Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Chiral Chemicals Market Share by Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe region’s Chiral Chemicals market accounts for the second-largest market share due to the increased healthcare cost, an aging population, and the prevalence of lifestyle-related illnesses, which will drive the market demand. Further, the German Chiral Chemicals market holds the largest market share, and the UK Chiral Chemicals market is expected to grow and expand rapidly in the European region during the projected timeframe.
The Asia-Pacific Chiral Chemicals Market is expected to grow and expand significantly quickly during the projected time frame. This is due to For pharmaceutical businesses successfully working with good manufacturing practices norms, affordable prices, and an export plan; the area offers attractive potential and contributes to overall market growth. Moreover, China’s Chiral Chemicals market dominates the market share, and the Indian Chiral Chemicals market is expected to grow and expand market revenue steadily in the Asia-Pacific region during the projected timeframe.
Chiral Chemicals Key Market Players & Competitive Insights
Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the Chiral Chemicals market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Chiral Chemicals industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.
Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Chiral Chemicals industry to benefit customers and capture untapped market share and revenue. The Chiral Chemicals industry has recently offered significant advantages to the healthcare industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially. Major players in the Chiral Chemicals market, including BASF (Germany), Solvias AG (Germany), Stern Chemicals, Inc. (United States), Johnson Matthey Plc (United Kingdom), and 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), and Flamma S.p.A. (Italy). And others are attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.
Daicel Chiral Technologies is a highly reliable provider of optical isomer extraction technologies for pharmaceutical businesses and university researchers. They began selling reagents in 2010. They provide chiral reagents with excellent chemical purity and optical purity thanks to advanced methods in asymmetric catalysts, chiral analysis, and chiral separation. Daicel Chiral Technologies will release CHIRALPAK IK in November 2021. This is one of the most powerful chiral chromatography stages in labs worldwide. CHIRALPAK IK provides additional divisions and improves existing separations produced with IG and additional selectors.
Cascade Chemistry specializes in discovering active medicinal ingredients, scale-up, and GMP manufacture. Cascade Chemistry's headquarters are located in Eugene, Oregon. They provide cost-effective and quick alternatives for the research & development, and manufacture of API cGMP formulations on a 1-10 kg scale, and their newly constructed plant will begin delivering higher capacity in 2022. In June 2021, Aceto purchased Cascade Chemistry, a producer of active pharmaceutical compounds and complex intermediates. It improved customer service and expanded its footprint in North America due to this purchase.
Key Companies in the Chiral Chemicals market include
-
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)
Chiral Chemicals Industry Developments
November 2021: Daicel Chiral Technologies will release CHIRALPAK IK in November 2021. This is one of the most powerful chiral chromatography stages in labs worldwide. CHIRALPAK IK provides additional divisions and improves existing separations produced with IG and additional selectors.
June 2021: Aceto purchased Cascade Chemistry, which produces active pharmaceutical compounds and complex intermediates. It improved customer service and expanded its footprint in North America due to this purchase.
February 2016: Strem Chemicals, Inc. partnered with Chiral Technologies in February 2016 to supply Daicel's chiral reagents throughout the United States and Europe. This aided the corporation in expanding its line of offerings. Comparably, Chiral Technologies struck an exclusive distribution arrangement alongside Scanco International S.A. in July 2016 to expand its presence in South America.
Chiral Chemicals Market Segmentation
Chiral Chemicals Technology Outlook
-
Traditional Separation Method
-
Asymmetric Preparation Method
-
Biological Separation Method
Chiral Chemicals Application Outlook
-
Pharmaceutical
-
Agrochemical
-
Flavors and Fragrances
-
Others
Chiral Chemicals Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
