Yahoo Finance Organocatalyst Market to Reach US$ 805.5 Mn by 2031, TMR Study
Transition toward green chemistries in catalytic reactions propelling revenue growth in organocatalyst market; demand in pharmaceutical industry presents abundant lucrative avenues owing to their selectivity, effectiveness, and purity of organocatalysts in various reaction
Wilmington, Delaware, United States, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - A global market study on organocatalyst scrutinizing the demand dynamics found that emphasis on developing green chemistry pathways is a key underpinning for R&D in organocatalysts. These are gathering traction on the back of their excellent stability, purity, and selectivity, and are increasingly replacing metal catalysts. The size of the organocatalyst market was pegged at US$ 433.2 Mn in 2021.
The pharmaceutical and fine chemicals industries are making a conscious shift away from metal catalyzed reactions to adopt organocatalysts in wide range of reactions, found the global market study on organocatalyst by TMR analysts. Rising utilization in molecule drug discoveries has augmented the organocatalyst market size. End-use industries are seeking new methods for implementation of organocatalysts in a large number of green chemistry explorations.
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Key Findings of Organocatalyst Market Study
Rising Utilization of Organocatalysts in Pharmaceutical and Fine Chemicals Industries Steering Market Growth: Rise in production of a range of pharmaceutical intermediates will spur the demand for organocatalysts. Massive demand in the pharmaceutical industry underpins buoyant growth opportunities for players in the organocatalyst market during the forecast period of 2022-2031. Apart from their use in those industries, there is also an incredible market prospect for organocatalysts in petrochemicals industry creating safe chemicals.
Organocatalysts Gathering Traction in Asymmetric Catalysis: Asymmetric organocatalysts are gathering traction in various application areas, thereby presenting tremendous growth opportunities in organocatalyst market. They are being preferred due to the fact that the use of organocatalysts in stereo-selective or asymmetric synthetic reactions resembles functionality of natural enzymes in medicinal chemistry. The asymmetric organocatalysts segment, found the study, is estimated to account for a major market share during the forecast period. Of note, asymmetric organocatalysis have gained vast popularity in pharmaceutical industry in recent years, since they help prevent any metal contaminant in the finally prepared chemicals.
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Organocatalyst Market: Key Drivers
Continuous advancements in catalysis reactions have led to the development of non-metallic catalysts that can be used in a wide spectrum of chemicals reactions in multiple industries. This is a key driver of the organocatalyst market.
Growing number of green chemistry experiments in various industries, notably pharmaceuticals, textiles, and fine chemicals, is spurring the pace of commercialization of products in the organocatalyst market. Environmental benefits and attractive safety profile in addition their remarkable selectivity are underpinning the adoption of organocatalyzed reactions.
Organocatalyst Market: Regional Growth Dynamics
Asia Pacific held a key share of 34.5% in 2021, and is estimated to be the most attractive market during the forecast period. Rising consumption of catalysts in chemical and pharmaceutical industries in numerous economies has expanded the outlook of the regional market, especially in China, South Korea, India, and Japan. A robust push toward green chemistries in catalytic reactions has generated massive impetus to the growth of the Asia Pacific organocatalyst market. Furthermore, rise in drug discoveries has reinforced demand of organocatalyst market. Growing understanding of the underlying mechanisms in the past decade has boosted revenue potential for organocatalyst market manufacturers.
Organocatalyst Market: Competition Landscape
Key players are mainly geared toward expanding product portfolio as the organocatalyst market is in development stage. Some of the prominent companies are JGC Catalysts and Chemicals Ltd., Amino GmbH, Evonik Rexim, Ajinomoto, Vizag Chemicals, Varsal Inc., Asiamerica Group, Inc., Kyowa Hakko USA Inc., Bio-Organic Catalyst, and Alfa Chemistry.
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Organocatalyst Market Segmentation
Product
Asymmetric Organocatalysts
Condensation Organocatalysts
Oxidation Organocatalysts
Porphyrins Catalysts
Others
Type
Chiral
Achiral
Mechanism
Activation Reactions
Oxidation Reactions
Condensation Reactions
Carbonyl Reduction Reactions
Oxo Synthesis Reactions
Others
End-use Industry
Pharmaceuticals
Textiles
Fine Chemicals
Others
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