The global phase transfer catalyst market is forecast to reach USD 1.59 Billion by 2026, according to a new report by Reports and Data. These catalysts are specialty chemicals that are used to accelerate the reaction rate between chemicals. It also helps in solubilizing salts in organic phases. The growing concern related to healthcare is the rising demand for medicines which are booming the market of this catalyst.
The market is influenced by the rising growth in the pharmaceutical industry. The growing scope for backward and vertical integration are boosting the market growth. These catalysts help in changing a reactant from one phase to another and is heterogeneous in nature. The increasing adoption of green chemistry for organic chemistry to accelerate reaction to attain high yield are benefiting the market of phase transfer catalyst. The use of green chemistry reduces waste and saves energy. The sudden availability of alternative, cost-effective industrial chemicals are acting as a market restraint.
The factors, as mentioned above, collectively create opportunities for the market growth while factors such as unfavorable effects of catalyst pose limitations in the market. However, each element would have a definite impact on the market during the forecast period. Consistent advancements in the heterogeneous catalyst market owing to innovative efforts have enhanced the efficiency of chemical reaction.
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Key participants SACHEM Inc., Nippon Chemical Industrial Co., Tatva Chintan Pharma Chem Pvt. Ltd., Volant-Chem Corp, Tokyo Chemical Industry Co., Dishman Group, Pacific Organics Private Limited, Central Drug House, PAT IMPEX, and Otto Chemie Pvt. Ltd. among others.
Demographically the Asia Pacific region is the major consumer of such heterogeneous catalysts since the cosmetic and healthcare industry in this region is growing and the mentioned industry needs such catalysts. The growing investments in R&D for the enhancement of new pharmaceuticals are driving the demand for the catalyst products. Therefore the Asia Pacific region is experiencing a significant growth rate during the forecast period.
Further key findings from the report suggest
- Ammonium Salts held the largest market share of 39.2% in the year 2018. This segment is growing since ammonium salts are cost-efficient in comparison with other heterogeneous phase transfer catalysts. These salts are used in various sectors such as agrochemical, pharmaceutical, and chemical, among several others.
- Active Pharmaceuticals Ingredients are forecasted to grow with a CAGR of 5.5% during the forecast period. The pharmaceutical industry uses this chemical compound for laboratory applications and formulation of various drugs.
- Healthcare Industry held the largest market share of 37.3% in the year 2018. India, China, and Australia became the largest consumer of different catalyst owing to the ever-growing healthcare industry. China became a leader in world pharmaceutical production because of its low-cost labor compared with other countries
- Asia Pacific is forecasted to grow with the highest CAGR of 6.7% during the forecast period. Countries like India, China, South Korea, and Japan are rapidly catching up with the growth in the heterogeneous catalyst market. There are limited rules related to the manufacturing and consumption of such catalysts in the Asia Pacific region, which is propelling the market.
For the purpose of this report, Reports and Data have segmented into the global phase transfer catalyst market on the basis of applications, type, applications, and region:
End-Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Healthcare
- Cosmetic
- Chemical
- Agrochemicals
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Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Sulfur Dyes Ammonium Salts
- Phosphonium Salts
- Crown Ethers
- Cryptands
Applications Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- Packaging and Board Active Pharmaceuticals Ingredients
- Drug Formulation
- Pesticides
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- PEST analysis of the market in the five major regions.
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Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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