The global fine chemicals market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Fine chemicals are a category of chemicals which are known by their minimal quantity usage and substantial cost in comparison with commodity chemicals. These sophisticated, pure chemical substances are produced in minimal amounts and based on accurate requirements for their supposed application. Fine chemicals are produced in batches unlike bulk chemicals which use continuous production. Furthermore, production associated with fine chemicals requires the transformation of basic chemicals into complexes which act as raw materials in a number of applications throughout different industries including agrochemicals, pharmaceuticals and biopharmaceuticals. The most common fine chemicals include agrochemical active ingredients and active pharmaceutical ingredients(APIs).
Drivers & Restraints of Fine Chemicals Market
Global fine chemicals market is likely to see a stable growth throughout the forecast period, this particular growth of global fine chemicals market is likely to be driven by the growth of the important end-use industries. Major consumers of fine chemicals are pharmaceuticals and agrochemicals and the growth in these sectors is likely to power the growth of global fine chemicals market throughout the forecast period. In addition, increasing demand from developing countries is likely to bring about the growth of global fine chemicals market.
Manufacturing costs, regulations and low volume products are some of the restraints of the market. The complexity of fine chemicals makes the costs of manufacturing significantly higher than bulk commodity chemicals. Regulations on APIs and active agrochemical ingredients in different parts of the world is an issue as companies have to spend valuable time and capital on getting through these regulations. Low volume production with profit margins generally low is another restraint in the market.
Based on the end use application industries, global fine chemicals market can be divided into 3 key segments:
Nutraceuticals (Food and Feed Supplements)
Top players in the market include Lonza, Sumitomo Chemicals, BASF SE, Boehringer-Ingelheim, SigmaAldrich Corporation, Chemada fine chemicals, Albemarle Corporation. Sanjiang Fine Chemicals Company Limited, Valiant Co. Ltd and others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Supply & Demand
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Strategies of key players and products available
- Potential and niche segments, regions showing promising growth