Fine Chemicals Market - Forecast(2025 - 2031)
Fine Chemicals Market Overview
Fine Chemicals market size is forecast to reach US$274 billion by 2030, after growing at a CAGR of 5.7% during 2024-2030. Fine chemicals can be defined as pure, complex as well as single chemicals that are produced in multipurpose plants by biotechnological process or batch production methods. Moreover, these are generally manufactured at lower quantities and are sold at higher prices. These chemicals are used in special applications as a starting material for the manufacture of biocides, generic drugs, paints and specialty chemicals. One of the major factors driving the growth of fine chemicals market is growing demand for fine chemicals in pharmaceutical sector. Also, the increasing demand for agrochemicals and rise in construction activities will boost the fine chemical market.
A significant trend in the Fine Chemicals Market is the use of green fine chemicals. These are produced using environmentally friendly processes that minimize the use of hazardous substances, reduce energy consumption and generate less waste. Due to the growing sustainability demand, the chemical industry also aims to employ sustainable manufacturing processes and produce chemicals that are eco-friendly. In November 2023, Lotte Fine Chemical Co. announced an investment of $99 million in an aim to become the world’s largest food and pharmaceutical materials producer and bump up its green materials sales by six times by 2030. Another trend in the market is supply chain diversification. The increasing geopolitical tensions and supply chain disruptions particularly related to China are driving a strong trend towards diversifying sourcing options for fine chemicals.
Fine Chemicals ?Report Coverage
The report "Fine Chemicals Market Report – Forecast (2024-2030)" by IndustryARC covers an in-depth analysis of the following segments of the Fine Chemicals Market.
AttributeSegment
By Type
By Application
By Geography
COVID-19 / Ukraine Crisis - Impact Analysis: ?
Key Takeaways
领英推荐
Active Pharmaceutical Ingredients are the Largest Segment
Active pharmaceutical ingredients (APIs) are the active components in a pharmaceutical drug (pill, capsule, cream, injectable etc.) that produce the required effect on the body to treat a condition. Despite high manufacturing costs, stringent regulatory policies, and policies in controlling drug prices in many countries, attractive opportunities have emerged in the API market due to growing incidence of chronic or non-communicable diseases. In June 2024, Pfizer commissioned its expanded, highly automated active pharmaceutical ingredient (API) manufacturing facility at the Tuas Biomedical Park in Singapore. The $744 million facility covers 429,000 square feet and will produce antibiotics and small molecules for Pfizer’s oncology, pain and antibiotic medicines. APIs find application in high quality drugs that treat diseases pertaining to oncology, cardiology, CNS and neurology, orthopedic, pulmonology, gastroenterology, nephrology, ophthalmology and endocrinology.
Pharmaceuticals are the Largest Segment
Pharmaceutical fine chemicals can be defined as the set of products or active pharmaceutical ingredients as well as services such as process development and optimization associated with the access by pharmaceutical companies to the API throughout the product life cycle, as per Contact Pharma. The key driver of the pharmaceutical market growth is the budding API manufacturing in developing countries. India and China produce APIs and drug intermediates for regulated markets. As the pharmaceutical industry is highly competitive, the ability to offer a low price is crucial. Generic drug manufacturers outsource bulk drug manufacturing activities to API manufacturers in developing countries, who deliver the APIs at a low cost. In 2023, India exported Active Pharmaceutical Ingredients (APIs) worth approximately $5.5 billion, as per data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S).
North America Leads the Market
North America occupies the largest market share in the Fine Chemicals Market due to the demand from pharmaceutical and agrochemical industries which are the largest consumers of these chemicals. In May 2024, theU. S. Department of Agriculture (USDA) Secretary announced that USDA is investing in domestic fertilizer projects. As per the announcement, the Department is awarding $83 million in 12 states for projects through the Fertilizer Production Expansion Program (FPEP). This program provides grants to independent business owners to help them modernize equipment, adopt new technologies, build production plants and more. These investments will boost domestic fertilizer production, strengthen competition and lower costs for U.S. farmers. Additionally, the region advanced manufacturing capabilities, robust R&D infrastructure and several players that prioritize innovation and quality. Furthermore, the strict regulatory standards such as those enforced by the FDA and EPA drive the demand for high-purity fine chemicals in drug development and crop protection applications. The presence of well-established supply chains and strategic partnerships between chemical manufacturers and end-use industries further strengthens the region’s dominance. Moreover, North America benefits from substantial investments in biopharmaceuticals, specialty chemicals and sustainable practices.?
Rising Demand for Pharmaceuticals Drives the Market
The growth scope for fine chemicals for active pharmaceutical ingredients is high compared to other types due to its wide range of applicability in drugs for the medical and pharmaceuticals sector to treat a rising number of chronic diseases. The demand for fine chemicals such as polypeptide, erythropoietin and others are growing due to the rising utilization of pharmaceuticals and biopharmaceuticals. In addition, the advancements in therapeutic drugs and medical devices and others are fueling its growth. In May 2024, Eli Lilly and Company announced a $5.3 billion investment in its manufacturing site in Lebanon, Indiana, US which increases the firm’s total investment to $9 billion. This expansion will expand manufacturing capacity of active pharmaceutical ingredients (APIs) for Zepbound (tirzepatide) injection and Mounjaro (tirzepatide) injection. Thus, with the massive utilization of these fine chemicals in pharmaceuticals for drugs and medications, the demand for fine chemicals is projected to grow rapidly during the forecast period.
Stringent Safety and Environmental Concerns to Hamper the Market
Fine chemicals have various negative impacts on the environment which restrains the growth of the fine chemicals market. Various strict regulations and strict rules regarding the negative effects of fine chemicals on the environment can act as a major constraint. ?These include regulations and initiatives taken by industrial associations in order to set standards for the management of an organization’s environmental impacts, product certification and issuance of licenses to decrease the harmful impact on the environment and adoption of clean technologies and improvement in management practices under CREP (Corporate Responsibility for Environmental Protection) Programs formulated by the Central Pollution Control Board.?
Fine Chemicals Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Fine Chemicals Market. Global Fine Chemicals top 10 companies include:
?????????????? ????: https://tinyurl.com/3vcfuvsa
??????????????: https://tinyurl.com/2c3rxu38