Laboratory Chemicals Market Revenues to Reach USD 34.17 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, Aug. 21, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Laboratory Chemicals Market Report (2023-2028)," the market is estimated at USD 27.68 billion in 2023. It is expected to register a CAGR of 4.30% during the forecast period.

Laboratory chemicals include standard chemical reagents and basic building blocks for more complex chemicals. They are also used in wastewater treatment. The laboratory chemicals market is driven by the growth of research and development (R&D) activities in biological and chemical sciences. There are substitutes available for several laboratory chemicals, which are expected to hinder the growth of this market. However, technological advancements like cell culture, recombinant DNA, biotherapeutics, and nanomaterials are expected to present more opportunities in the coming years.

Report Summary:

Report AttributeDetails
Market Size (2023)USD 27.68 billion
Market Size (2028)USD 34.17 billion
CAGR (2023-2028)4.30%
Study Period2018-2028
Fastest Growing MarketEurope
Largest MarketEurope
Forecast UnitsValue (USD billion)
Report ScopeMarket Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market DriversIncreasing investments in R&D.
Technological advancements.

Who are the Top Companies in the Global Laboratory Chemicals Market?

The market is partially fragmented, with the presence of global and local players. The significant players in the global laboratory chemicals market are,

  • Avantor Inc.
  • BD BioScience
  • Beckman Coulter Inc.
  • BiosYnth SRL
  • Carlo Erba Reagents SRL
  • GE Healthcare
  • ITW Reagents Division
  • Merck KGaA
  • Meridian Life Science Inc.
  • Mitsubishi Rayon Co. Ltd
  • Morphisto GmbH
  • PerkinElmer Inc.
  • R&D Systems
  • Sigma-Aldrich Corp.
  • UJIFILM Wako Chemicals

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Key Highlights from the Global Laboratory Chemicals Market Report:

Potential for Growth in Industrial Applications

  • From bromination to cryogenic reactions, laboratory chemicals have diverse industrial applications. The most common laboratory chemical processes include acid chloride preparations, carboxylation, ion-exchange reactions, nitration, Suzuki coupling, and Williamson's ether synthesis.
  • These chemicals play a crucial role in manufacturing commercial products through processes like re-crystallization and distillation.
  • Increased agricultural output is driving the demand for chemicals like sulfuric acid. Investments in R&D for sustainable and environmentally friendly chemicals are increasing.

Europe to Dominate the Market

  • Italy holds one of the world's largest chemical markets, with significant chemical revenue and exports. There is an increased focus on medium to high-technology sectors like pharmaceuticals, mechanics, and chemicals, with strong innovation.
  • Germany's pharmaceutical market is attractive to global manufacturing companies, leading to expansions and investments.
  • Ireland also plays a significant role in global pharmaceutical production, with the presence of major pharmaceutical companies and substantial investments.

What are the Latest Developments in the Global Laboratory Chemicals Market?

  • In August 2022, Bayer was observed developing the Solida-1 pharmaceutical production facility at its site in Leverkusen, Germany, for an investment of USD 286.98 million. The facility is expected to be operational by 2024.

Mordor Intelligence has Segmented the Global Laboratory Chemicals Market Based on Type, Application, and Geography.

  • By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • Molecular Biology
    • Cytokine and Chemokine Testing
    • Carbohydrate Analysis
    • Immunochemistry
    • Cell/Tissue Culture
    • Environmental Testing
    • Biochemistry
    • Other Types
  • By Application (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • Industrial
    • Academia/Educational
    • Government
    • Healthcare (Pharmaceutical)
  • By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • Germany
      • United Kingdom
      • Italy
      • France
      • Spain
      • Rest of Europe
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of Middle East & Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Global Laboratory Chemicals Market Report (2023-2028).

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Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

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Laboratory Chemicals Market - Mordor Intelligence

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