Pharmaceutical Solvents Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Pharmaceutical Solvents Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 5,622.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.3% and is expected to reach a valuation of US$ 9,423.2Mn by 2032 end.
Chemicals called solvents are employed in the production of pharmaceuticals. They are also utilized in the extraction and purification processes as reaction media. They are both useful in producing active medicinal components and can be either inorganic or organic. Additionally, they are employed in the encapsulation and packaging of pharmaceuticals. Ethers, alcohols, amines, and chlorinated solvents are the different chemical groups into which these solvents can be divided.
ChemView Consulting has analyzed that the cost of pharmaceutical ingredients and solvents is rising, and as a result, major manufacturers are investing in green chemical processes to reduce waste. The market demand for pharmaceutical solvents is increasing due to green chemistry. The main players are encouraged to adopt these tactics by regulatory authorities’ approval of green chemical processes. The U.S. Environmental Protection Agency (EPA) recognizes the need for green chemical processes to limit the emission of harmful chemicals used in medicine formulation.
According to the EPA, the pharmaceutical industry is expected to save US$ 65 million in production costs by using green chemical processes through 2020. Additionally, implementing these procedures can effectively lessen their use’s dangerous effects.
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Segments Covered in Report
By Chemical Group:
- Alcohol
- Ethanol
- Isopropanol
- Propanol
- Propylene Glycol
- Amine
- Aniline
- Diphenylamine
- Methylethanolamine
- Trimethylamine
- Ester
- Acetyl Acetate
- Ethyl Acetate
- Butyl Acetate
- Ether
- Diethyl Ether
- Anisole
- Polyethylene Glycol
- Chlorinated Solvents
- Carbon Tetrachloride
- Dichloromethane
- Others (Chelating Agents, Acetone)
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Pharmaceutical Solvents Market
- Based on the chemical group, alcohol held a 34% market share in revenue in 2021, leading the global pharmaceutical solvent market by chemical type.
- Based on the region, with a market share of 54.3%, the Asia Pacific Region is anticipated to be the most lucrative region for manufacturers of pharmaceutical solvents. Leading pharmaceutical firms, increasingly use green chemical processes for drug formulations, including Pfizer, Novartis, and others.
Competition Summary
Key companies covered in the market study are BASF SE, The Dow Chemical Company, ExxonMobil Corporation, Royal Dutch Shell PLC, Yip’s Chemical Holdings Limited, Mitsubishi Chemical Corporation, Eastman Chemical Company, Clariant AG, Merck KGaA, Procter & Gamble
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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