Separating a chiral drug into its single beneficial enantiomer reduces the risk of adverse effects from the hazardous enantiomer, which is inactive. Rapid development of chiral separation technology in recent years led the process chemists to choose different methodologies to separate or synthesis optically active chiral chemicals. These methodologies have major applications in manufacturing pharmaceutical drugs, agrochemicals, food sweetening agents, and aromatic compounds for cosmetic industries. In many methodologies, asymmetric synthesis is predicted to be the most preferred and it is anticipated to grow its utilization over the forecast period.
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Some of the prominent factors that positively influence the growth of chiral chemicals market are increasing pharmaceutical drugs manufacture owing to global demand for medicines is growing, as demographic, economic and epidemiological trends reshape the marketplace, rising demand for to make sweetening food additives optically active and effective by using chiral separation technology, and growing agrochemicals manufacturing owing to rising population food needs. Increasing urbanization along with rising per capita disposable income in developed and emerging economies are predicted to drive the cosmetic industry growth, where chiral chemicals used to manufacturing efficient fragrance related products is set to increase in the forecast period, 2019 to 2023. Furthermore, there is a great opportunity for innovation and research & development to economize and improve yield at industrial scale chiral chemicals production is predicted to increase the market growth over the assessment period, 2019 to 2023.
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.
- Agilent Technologies Inc.
- BASF SE
- The Dow Chemical Company
- Chiral Technologies Inc.
- Bachem Holding AG
- Daicel Corporation
- Anhui Biochem United Pharmaceutical Co.Ltd.
- Digital Specialty Chemicals
- Chiral Quest Co.Ltd.
- Albemarle Corporation
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North America is estimated to be the largest chiral chemicals market followed by Asia Pacific and Europe due to strong existence of innovation and technology. In Europe, Germany, Russia, and Spain are predicted to register a strong growth on account of tremendous demand for chiral chemicals in cosmetic industry. In Asia Pacific, countries such as China, India, and South Korea are the fastest growing market for chiral chemicals, and is estimated to grow with the same pace over the forecast period. Improving living standards along with the flourishing growth of agrochemicals industry is predicted to contribute to the regional market growth. In North America, U.S and Mexico are among the major contributors in the regional market growth due to presence of major chiral chemicals manufacturers is anticipated to be an added advantage to the market growth. In Latin America, Mexico is expected to register strong growth due to robust governance and policy making.