Newark, NJ, Feb. 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global phase transfer catalyst market is expected to grow from USD 942.87 million in 2017 to USD 1,420.41 million by 2025, at a CAGR of 5.26% during the forecast period from 2018-2025.
The global phase transfer catalyst market is witnessing the robust growth from the past few years. Focus on reducing effluents is leading to increasing utilization of phase transfer catalysts in the chemical industry as they minimize the industrial waste generation as well as reduce requirement of using organic solvents. Thus, growing global emphasis from chemical industry on reducing the residual waste as well as use of organic solvents is driving the growth of the global phase transfer catalyst market.
Phase transfer catalysts are type of catalysts that enable the migration of a reactant from one phase into another phase where reaction occurs. Thus, phase transfer catalysts eliminate the need for expensive and dangerous solvents that will dissolve all the reactants in one phase as well as eliminate the need for expensive raw materials and minimize waste problems. It is often used in heterogeneous reaction mixtures to facilitate movement of a reactant from one phase to another. Phase transfer catalysts are known to sometimes accelerate reaction rates and minimize solvent waste, since the reactions tend to be heterogeneous.
Global phase transfer catalyst market is expected to witness rapid growth over the forecast period, owing to increasing demand from various end user industries. In addition to this, growing use of green chemistry in organic synthesis processes, emphasis on reducing the use of toxic solvents is driving the demand for the phase transfer catalysts. Whereas availability of low cost alternatives is anticipated to hamper the market growth. Furthermore, growing demand for phase transfer catalyst for the bio plastics is anticipated to provide potential opportunities for the vendors in the market.
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Key players operating in the global phase transfer catalyst market include are SACHEM Inc., Tokyo Chemical Industry Co., Ltd., Nippon Chemical Industrial Co., Ltd., Dishman Group, PAT IMPEX, Tatva Chintan Pharma Chem Pvt. Ltd., Central Drug House Ltd., Pacific Organics Private Limited, Otto Chemie Pvt. Ltd., Volant-Chem Corp., Huadong Chemical Research Institute, Kente, and Changzhou Xinan Chemical Institue among others. To enhance their market position in the global phase transfer catalyst market, the key players are now focusing on adopting the strategies such as recent developments, product innovation, joint venture, mergers & acquisitions, collaborations, and partnership. Increasing research and development activities and launch of innovative products are making firms stand out in the global phase transfer catalysts market.
- For instance SACHEM Inc. has emerged as the global leader in the phase transfer catalyst market. In March 2017, SACHEM has launched as the innovative products such as its Ferrion range. The Ferrion PTC line is a complete palette of agrochemical phase transfer catalyst, used in many biphasic organic transitions in the agrochemical industry.
Ammonium salt segment emerged as the largest segment in global phase transfer catalyst market with a 46.58% share of revenue in 2017
Type segment is divided into ammonium salts, phosphonium salts and others. Ammonium salt segment emerged as the largest segment in global phase transfer catalyst market with a 46.58% share of revenue in 2017. This dominating market share can be attributed to their cost effectiveness and huge demand for ammonium salts phase transfer catalyst across the globe.
Pharmaceuticals segment is projected to attain the highest CAGR of 7.96% over the forecasted to period
End user industry is segmented into pharmaceuticals, agrochemicals and others. Pharmaceuticals segment is projected to attain the highest CAGR of 7.96% over the forecasted to period. This increase in growth can be credited to increase in research and development activities and rising world over demand for the pharmaceutical products. Focus on reducing effluents is leading to increasing utilization of phase transfer catalysts as they minimize the waste as well as reduce requirement of using organic solvents. These products provide enhanced reaction rates Phase transfer catalysis and yields, resulting in enhanced production, energy and cost effectiveness. They enable the use of inexpensive inorganic bases (like sodium hydroxide) and other reagents, and provide the ability to use simpler process equipment. In addition to this, increasing research and development activities for the new drug development in pharmaceutical industry, further providing the potential opportunities for the phase transfer catalyst providers, in upcoming years.
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Regional Segment Analysis of the Phase Transfer Catalyst Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Africa. North America region emerged as the largest market for the phase transfer catalyst with a 40.29% share of revenue in 2017. On account of being the largest consumer of the pharmaceuticals and agrochemicals products and possessing high research and development capabilities, North America region dominated the global phase transfer catalyst market in 2017. Asia Pacific region is projected to grow at the highest CAGR of 8.16% over the forecasted period. Rapid development of pharmaceuticals and agrochemicals manufacturing sector in China, India and South Korea is expected to provide a boost this growing demand for the phase transfer catalysts.
About the report:
The global phase transfer catalyst market is analysed on the basis of value (USD Million), volume (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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