Chiral Chemicals Market Price Trends, Growth, Industry Outlook, and Forecast Report
Chiral Chemicals Market Report by Technology (Traditional Separation Method, Asymmetric Preparation Method, Biological Separation Method, and Others), Application (Pharmaceuticals, Agrochemicals, Flavors and Fragrances, and Others), and Region 2024-2032
The global chiral chemicals market size reached US$ 78.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 224.9 Billion by 2032, exhibiting a growth rate (CAGR) of 12.69% during 2024-2032.
Market Size in 2023
US$ 78.6 Billion
Market Forecast in 2032
US$ 224.9 Billion
Market Growth Rate 2024-2032
Chiral chemicals refer to a special class of compounds comprising an asymmetrical carbon atom at the center. Also known as enantiomers or optical isomers, these chemicals are non-superimposable on their mirror image. They are widely used in the manufacturing of pharmaceutical items, agrochemicals, food ingredients, and fine chemicals. Presently, several companies worldwide are increasingly investing in research and development (R&D) projects to enhance the yield and cost efficiency of chiral chemicals using advanced analytical methods.
The growing population, declining arable land, and changing climate conditions are resulting in rising food security concerns worldwide. This represents one of the critical factors influencing the demand for chiral chemicals as they are used in the production of herbicides, pesticides, plant growth regulators, fungicides, and pheromones for optimum agricultural productivity. Apart from this, the growing awareness about naturally derived fragrances is expanding the usage of chiral chemicals in the cosmetics industry. Moreover, the rising number of individuals who suffer from chronic health conditions, along with the improving healthcare infrastructure, is expanding the application of chiral chemicals in the pharmaceutical industry. Besides this, the growing emphasis on developing safer and effective drugs with better therapeutic value is also presenting lucrative opportunities to manufacturers for expanding their market reach. Furthermore, several companies are focusing on the introduction of application-specific products, which is anticipated to promote the applications of chiral chemicals in different end use industries across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global chiral chemicals market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on technology and application.
Breakup by Technology:
Traditional Separation Method
Asymmetric Preparation Method
Asymmetric Synthesis Method
Asymmetric Catalysis Method
Biological Separation Method
Breakup by Application:
Flavors and Fragrances
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Chiracon GmbH, Chiral Technologies Inc. (Daicel Corporation), Codexis Inc., Johnson Matthey Plc, PerkinElmer Inc., Solvias AG, Strem Chemicals, Inc., Toray Industries, Inc., and W.R. Grace & Co.
Base Year of the Analysis
Technology, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
BASF SE, Chiracon GmbH, Chiral Technologies Inc. (Daicel Corporation), Codexis Inc., Johnson Matthey Plc, PerkinElmer Inc., Solvias AG, Strem Chemicals, Inc., Toray Industries, Inc., and W.R. Grace & Co.
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Key Questions Answered in This Report
We expect the global chiral chemicals market to exhibit a CAGR of 12.69% during 2024-2032.
The rising demand for chiral chemicals across the pharmaceuticals industry to develop safer and effective drugs with better therapeutic value is primarily driving the global chiral chemicals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for chiral chemicals.
Based on the technology, the global chiral chemicals market has been segregated into traditional separation method, asymmetric preparation method, biological separation method, and others. Among these, traditional separation method currently holds the largest market share.
Based on the application, the global chiral chemicals market can be bifurcated into pharmaceuticals, agrochemicals, flavors and fragrances, and others. Currently, pharmaceuticals exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global chiral chemicals market include BASF SE, Chiracon GmbH, Chiral Technologies Inc. (Daicel Corporation), Codexis Inc., Johnson Matthey Plc, PerkinElmer Inc., Solvias AG, Strem Chemicals, Inc., Toray Industries, Inc., and W.R. Grace & Co.
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