NEWARK, Del, May 07, 2023 (GLOBE NEWSWIRE) -- The pharmaceutical solvents market is securing a valuation of US$ 3.9 Billion in 2023 and is projected to reach US$ 6.1 Billion by 2033. The market is capturing a CAGR of 4.6% during the forecast period.
Key Opportunities to Bring Lucrative Growth:
The market presents various key opportunities, including:
- Increasing Demand for Pharmaceuticals: The increasing number of chronic disease patients, the ageing population, and the demand for natural drug formulations drive the market size.
- Adoption of Advanced Drug Delivery Systems: The innovation of nanotechnology to formulate solvent drugs among manufacturers is creating huge market opportunities.
- Rising Demand for Green Solvents: Manufacturers focus on reducing carbon footprints by providing eco-friendly solvents. These solvents are safe, efficient, and sustainable, creating better manufacturing processes without environmental impact.
- Emerging Economies: The emerging economies in developing countries such as India, China, and Brazil are significantly fueling the market opportunities Manufacturers expand the market through their unique and innovative product launches in these countries.
- High-quality Products: The pharmaceutical sector continuously grows by developing high-quality products to reduce carbon emissions. The government imposes stringent regulations to maintain the quality of products in the pharmaceutical industry. It helps to increase the demand and generate huge revenue in the market.
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Key Takeaways:
- The United States is anticipated to register a share of 20.9% in the global market by 2033.
- Indian market is anticipated to capture a share of 5.7% in the global market by 2033.
- With a share of 6.4%, the German market is significantly fueling the global market during the forecast period.
- Japan is securing a share of 6.1% in the global market during the forecast period.
- In a historic period, the market stood with a valuation of US$ 3.7 Billion with a CAGR of 4.2% in 2022.
How Key Players Are Achieving Their Goals in the Global Market?
The key players are achieving their goals in the global pharmaceutical solvents market through several strategies are:
- Product Innovation: The prominent players continuously improve product quality through their innovative skills and research and development activities. The players are a deep analysis of the market and carry out unique ideas to develop improved products for their consumers.
- Geographic Expansion: The key players are expanding their reach from local to international with their innovative products. This geographic expansion leads to reaching their relevant customers are increasing sales.
- Promotion and Marketing: Key players invest money in promoting and marketing their products. These players use various channels to promote their products to meet genuine consumers, such as online advertising, social media, and trade shows.
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Recent Developments in the market:
- In 2020, Eastern Chemical Company launched its two new solvents, Solus 310 and Solus 210. These solvents are developed for suitable pharmaceutical applications.
- In 2021, BASF announced its newly launched pharmaceutical solvent Kollisolv PEG 400. It is widely used for liquid and semi-liquid formation dosage.
- In 2021, Honeywell International Inc. launched its new non-inflammable solvents. These are safe, suitable, sustainable solvents widely used in the pharmaceutical sector to reduce carbon footprints.
Other Key Players are:
- ExxonMobil Corporation
- Royal Dutch Shell PLC
- Yip’s Chemical Holdings Limited
- Mitsubishi Chemical Corporation
- Merck KGaA
- Avantor, Inc
- BASF SE
- Sigma-Aldrich Co. LLC
- Dow Inc
- Thermo Fisher Scientific Inc
- Ashland Global Holdings Inc
- Honeywell International Inc
- Eastman Chemical Company
Pharmaceutical Solvents Market by Category:
By Chemical Group:
- Alcohol
- Ethanol
- Isopropanol
- Propanol
- Propylene Glycol
- Amine
- Aniline
- Diphenylamine
- Methylethanolamine
- Trimethylamine
- Ester
- Acetyl Acetate
- Ethyl Acetate
- Butyl Acetate
- Ether
- Diethyl Ether
- Anisole
- Polyethylene Glycol
- Chlorinated Solvents
- Carbon Tetrachloride
- Dichloromethane
- Others (Chelating Agents, Acetone)
By Region:
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East Africa
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Table of Content (ToC):
1. Executive Summary | Pharmaceutical Solvents Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and Their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
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Have a Look at Related Research Reports on Chemicals & Materials:
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Alcohol Ethoxylates Market Overview: The global sales of alcohol ethoxylates are projected to grow at a moderate CAGR of around 4.2% between 2022 and 2032. Rising demand for alcohol ethoxylates across diverse end-use industries such as home & personal care, oil & gas, and pharmaceuticals is driving the growth of the alcohol ethoxylates market.
Nitromethane Market Demand: The nitromethane market is likely to register a CAGR of 5% during the forecast period, and is anticipated to reach a market share of US$ 12.57 Billion by 2032, from US$ 7 Billion in 2020, as an organic synthesis of medicinal and agrochemical compounds is in high demand.
Methyl Oleate Market Analysis: Rapid growth of the chemical industry across the world is creating immense demand for methyl oleate. The global methyl oleate market size was estimated to be worth around US$ 1.8 Billion in 2022.
Acetyls Market Forecast: The global acetyls market is likely to be valued at US$ 26,492.0 Million in 2022 and is predicted to secure a slow-paced CAGR of 5.1% during the forecast period. The market is expected to grow at a value of US$ 43,565.4 Million by 2032.
DiMethyl Sulfoxide (DMSO) Market Value: In 2022, the worldwide Dimethyl Sulfoxide (DMSO), the market was estimated to be worth US$ 495.6 Million. It is expected to increase at a 5.4% CAGR from 2022 to 2032. By the end of 2032, the worldwide Dimethyl Sulfoxide (DMSO), market is estimated to be worth US$ 838.6 Million.
Picric Acid Market Outlook: The picric acid market is projected to register a CAGR of 8% during the forecast period, up from US$ 34.6 Billion in 2021, to reach a valuation of US$ 80.6 Billion by 2032.
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Old Source: Pharmaceutical Solvents Market Is Anticipated to Reach US$ 5.29 Bn By The End Of 2030
