In a recent published report, Kenneth Research has updated the market report for Chiral Chemicals Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Chiral Chemicals Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Global Chiral Chemicals Market Analysis 2020-2027
Chiral chemicals are a special class of compounds, which contains an asymmetrical carbon center in the molecule. The chiral molecules are non-superimposable on their mirror image, which is known as enantiomers or optical isomers. The global chiral chemical market is anticipated to achieve a CAGR of around 12% during the forecast period, i.e. 2020-2027. Factors such as the rising focus of the government of nations on the manufacturing of pharmaceutical products, growing investments of manufacturers in the emerging economies around the world along with the increasing worldwide demand for specialty and agrochemicals at the end-user industries are contributing towards the growth of the global chiral chemicals market.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Impact).”
Additionally, advancements in the pharmaceutical industry, increasing use of chiral chemicals in end-user industries owing to superior chemical properties possessed by chiral chemicals, and the growing need for medicines for consumption by the geriatric population are some of the factors anticipated to drive the growth of the global chiral chemicals market.
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The global chiral chemicals market consists of various segments that are segmented by method, application, and region. The application segment is further sub-divided into agrochemical, pharmaceutical, and others. Out of these segments, the pharmaceutical segment, which held a market share of around 68% in the year 2018 is anticipated to grow with a CAGR of around 11% over the forecast period and cross a value of around USD 71000 million by the end of 2025.
Based on the region, the global chiral chemicals market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific, which had accounted for around 25% share in the year 2018, is estimated to cross a value of around USD 26000 million by the end of 2025 and further attain an absolute $ opportunity of around USD 13000 million during the forecast period.
Some of the affluent industry leaders in the global chiral chemicals market are Bachem AG, BASF SE, The Dow Chemical Company, Solvias AG, Johnson Matthey, W.R. Grace & Co.-Conn., Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Albemarle Corporation and Alps Pharmaceutical Ind. Co., Ltd.
Business Questions answer by the report
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- What will be the market size in terms of value and volume and market statistics with detailed classification?
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- A comprehensive survey of the competitive landscape and the market participant players
- Analysis of strategy adopted by the key player and their impact on other players.
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