Fine chemicals market reach $191 billion by 2021 – Report

Fine chemicals market to reach $191 billion by 2021 – Report

4:34 AM, 15th September 2017
Pharmaceutical sector has always been the largest market for fine chemicals industry. (File photo)
Pharmaceutical sector has always been the largest market for fine chemicals industry. (File photo)

HYDERABAD, INDIA/ WILMINGTON, US: The fine chemicals industry is a typical processed and intermediary materials industry that procures basic chemicals to supply raw materials and auxiliary materials to the downstream industries. Fine chemicals manufacturing is typically carried out in batch processes, with synthesis being followed by separation and purification steps. Pharmaceutical sector has always been the largest market for fine chemicals industry, according to a report by IndustryARC.

The report "Fine chemicals Market: By End-User (Pharmaceuticals, Agro Chemicals, Polymer Additives, Food and Feed, Pigments, Dyes, Electronics, Perfumes and Fragrances, and Others); By Geography (North America, Europe, Asia-Pacific, and Rest of the World (RoW)) - Forecast (2017 - 2021)", IndustryARC research estimates the market to reach $191.03 billion by 2021.

Pharmaceutical sector has always been the largest market for fine chemicals industry. Moreover, it is estimated that pharmaceutical intermediates will account for over 70 percent of the fine chemicals market by 2017. Although the number of fine chemical companies involved in the manufacture of high potency APIs (HPAPIs) has historically been limited, the segment has attracted more companies recently.

On the basis of end-users, the fine chemicals market is segmented into pharmaceuticals, agro chemicals, polymer additives, food and feed, electronics, dyes and pigments, perfumes and fragrances, and others. Fine chemicals are used in many industries, but as per IndustryARC analysis, agrochemicals and perfumes & fragrances are also the major end-user segments, which are occupying prominent share among all other applications after pharmaceuticals. To elaborate, Agrochemical companies are the second largest users of fine chemicals. As a consequence of an intensive M&A activity over the past two decades, the industry now is more consolidated than the pharmaceutical industry.

Growing pharmaceutical industry coupled with development of efficient protein-based catalysts, enzyme capabilities and new reactor technologies in fine chemicals processing are anticipated to propel the demand for the future 

The global fine chemicals market is estimated to grow with a CAGR of 5.76 percent during the forecast period and will reach $191.03 billion by 2021. The market of fine chemicals has been segmented into North America, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, North America is the prominent region for fine chemicals market and is estimated to grow with CAGR of 5.8 percent during the forecast period.

However Asia-Pacific is the fastest growing market for fine chemicals during the forecast period. The growth of fine chemicals in Asia-Pacific is attributed to the increasing pharmaceuticals as well as agro chemical industries in the emerging countries such as China, India, and other major South-East Asian countries.

The prominent players in this market include:

  • Evonik AG
  • Johnson Matthey
  • Lanxess AG
  • Lonza Group AG

© Chemical Today News 



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