Market Overview
The global phase-transfer catalyst market is expected to witness significant growth during the forecast period owing to its increasing application in pharmaceuticals and agrochemicals. The growth of the global market is primarily driven due to the extensive use of the product in green chemistry. The adoption of green chemistry is increasing on the backdrop of its benefits such as reduced waste, energy and water saving, low toxicity, and higher yields of chemicals.
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Market Segmentation
The global phase-transfer catalyst industry has been segmented based on type, application, and region.
By type, the global market is segmented into ammonium salts, phosphonium salts, and others. The others segment includes crown ethers and cryptands. Among these, the ammonium salts segment accounted for the largest market share in 2018 on account of their extensive use in chemical synthesis. This is due to their low cost, easy availability, and wide scope of application. Apart from this, they can be used in cosmetics and laundry detergents.
On the basis of application, the global market has been segmented into pharmaceuticals, agrochemicals, and others. The pharmaceuticals segment is further sub-segmented into active pharmaceuticals ingredients and drug formulation. The pharmaceuticals was the dominant segment in 2018, on the backdrop of constant research to develop new medicines.
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Regional Analysis
The global market, by region, has been segmented into five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific emerged as the fastest-growing regional market owing to the high demand for agrochemicals in the agricultural industry in the region. Moreover, the growth of the pharmaceuticals industry on account of the growing geriatric population and increasing R&D are expected to fuel the regional market growth during the forecast period. The North American and European markets are expected to witness healthy growths due to expanding pharmaceutical base and increasing investments related to R&D for new product development.
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Competitive Analysis
Some of the prominent players operating in the global phase-transfer catalyst market are Tokyo Chemical Industry Co., Ltd. (Japan), SACHEM Inc. (US), Nippon Chemical Industrial CO., LTD. (Japan), Dishman Group (India), PAT IMPEX (India), Tatva Chintan Pharma Chem Pvt. Ltd. (India), Central Drug House (India), Ottokemi (India), GFS Chemicals, Inc. (US), and PACIFIC ORGANICS PVT Ltd (India).
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