IMARC Group’s latest report, titled “Chiral Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global chiral chemicals market is expected to grow at a CAGR of 10.1% during 2023-2028. Chiral chemicals, also known as optical isomers or enantiomers, refer to a special class of compounds that comprise an asymmetrical carbon atom at the center of the molecule. The chiral molecules are not superimposable on their mirror image. These chemicals are widely used in the agriculture sector to manufacture pesticides, herbicides, fungicides, plant growth regulators, and pheromones for optimum agricultural productivity. They also find extensive applications in pharmaceutical products, food ingredients, fragrances, flavors and fine chemicals.
Global Chiral Chemicals Market Trends:
The rising food security concerns across the globe due to rapid population growth, changing climate conditions and declining arable land have led to improved focus on better crop yield. This represents the primary factor driving the market. Additionally, the escalating demand for naturally-derived fragrances has increased the usage of chiral chemicals in the cosmetics and personal care industry, thereby contributing to the market growth. Besides this, the rising demand for enantiomerically pure products in pharmaceutical formulations and increasing product applications across the pharmaceutical sector to manufacture safer and effective drugs with better therapeutic value are other growth-inducing factors. Furthermore, several manufacturers are focusing on developing environment-friendly technologies to enhance the yield of chiral chemicals and introduce application-specific products. As a result, leading players are making heavy investments in research and development (R&D) activities, which is further creating a positive market outlook.
- Based on technology, the market has been divided into traditional separation, asymmetric preparation (asymmetric synthesis and asymmetric catalysis methods), biological separation, and other methods.
- The market has been segregated based on the application into pharmaceuticals, agrochemicals, flavors and fragrances, and others.
- On the geographical front, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some 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.
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