Global Chiral Chemicals Market: Overview
The global chiral chemicals market has grown steadily over the years due to rising governments’ focus towards pharmaceutical manufacturing. The chiral chemicals or compounds are mainly comprised of a centered-carbon atom which is attached to four other substitutes. However, the stereocenter of chiral chemical may not be only occupied by carbon atom, it may also consist of trivalent sulfur or tetravalent phosphorus compounds. Chiral compound’s left hand and right hand configurations are known as enantiomers. Such enantiomers possess same physical properties, but they are different from others depending on the direction of rotation. Chirality plays a crucial role in animals, plants, agrochemical, and pharmaceutical sectors. This is because all the enzymes, amino acids, proteins, hormones, and carbohydrates are chiral compounds. Such USPs are majorly driving the global chiral chemicals market.
From the perspective of applications, the global chiral chemicals market is segmented into agricultural chemicals, pharmaceutical, fragrances, and flavors. Among all these applications, agrochemicals segment is expected to witness a significant growth during the assessment period. This is due to the increasing demand for eco-friendly crops and pesticides. Furthermore, chiral chemicals are also used in manufacturing key agrochemicals include plant growth regulators, pheromones, herbicides, and fungicides. All such advantages are expected to be fueling growth in the global chiral chemicals market.
Global Chiral Chemicals Market: Notable Developments
A few recent developments may enlarge the growth boundaries of the global chiral chemicals market in a big way include:
- Several companies in the global chiral chemicals market along with various associations have taken an approach to invent an advanced technology for increasing the production of chiral chemicals.
- European Commission Framework 7 has taken an initiative, named as KYROBIO for developing an ample amount of biocatalyst, which helps in industrial synthesis of chiral chemicals to obtain artificial or synthetic chiral chemicals.
- The market players in the global chiral chemicals market are emphasizing on the development of application specific chiral chemicals to increase the efficacy and yield of the desired product.
Key players operating in the global chiral chemicals market include Strem Chemicals, Codexis INC., Perkin Elmer Inc., Dow Chemical Company, and Rhodia.
Global Chiral Chemicals Market: Key Growth Dynamics
Rising Use of Chiral Chemicals in Pharmaceutical Industry Fuels Market Growth
Many companies in the market intend to produce several pharmaceutical intermediates. Chiral chemicals are important for manufacturing enantiomerically pure products in pharmaceutical formulations. Such factors are expected to boost the global chiral chemicals market. Along with this, rapid technological advancements in pharmaceutical sector and extensive research and development activities in developing as well as developed regions are another factors expected to contribute growth in the global chiral chemicals market. Many pharmaceutical industries are incorporating chiral chemicals in the production of drugs. This is due to the growing understanding about the differences between enantiomers and their different biological activities.
Furthermore, pharmaceutical industries are using chiral chemicals as antibiotics, antivirals, anti-diabetics, and in cancer therapies. Such factors are also projected to propel demand in the global chiral chemicals market. Along with these, rising product penetration among agrochemicals industries in developing economies and growing investments in chiral chemicals combined with research and developments are also expected to boost the global chiral chemicals market.
Global Chiral Chemicals Market: Regional Outlook
Geographically, North America is expected to lead the global chiral chemicals market as the region has witnessed rapid technological advancements. Soaring demand for natural fragrances, rising pharmaceutical industries, and existence of large number of manufacturers and market players could also be responsible for fueling growth in the chiral chemicals market in this region.
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