Pharmaceutical Solvents Market

Pharmaceutical Solvents Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Pharmaceutical Solvents Market grew at a CAGR of 4.6% between 2017-2021 and is estimated to be US$ 5,622.3Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.3% and is expected to reach a valuation of US$ 9,423.2Mn by 2032 end.

The growing demand for innovative formulations and secure chemical recipes for the creation of vaccines and efficient solutions will boost sales in the market. The pharmaceutical industry has grown by 150% over the last ten years due to continued technological advancements in the medical profession. This trend is anticipated to continue in the years to come.

Market Dynamic

APPLICATION OF GREEN CHEMISTRY AND INNOVATION TO BOOST PHARMACEUTICAL SOLVENTS SALES

The cost of pharmaceutical ingredients and solvents is rising, and as a result, major manufacturers are investing in green chemical processes to reduce waste. The market demand for pharmaceutical solvents is increasing due to green chemistry.

The main players are encouraged to adopt these tactics by regulatory authorities’ approval of green chemical processes. The U.S. Environmental Protection Agency (EPA) recognizes the need for green chemical processes to limit the emission of harmful chemicals used in medicine formulation.

According to the EPA, the pharmaceutical industry is expected to save US$ 65 million in production costs by using green chemical processes through 2020. Additionally, implementing these procedures can effectively lessen their use’s dangerous effects.

INCREASING OCCURRENCE OF CAUSALITIES IS HIGHLY FLAMMABLE IS PROJECTED TO RESTRICT THE USE OF SOLVENT

It is anticipated that the use of solvents will be restricted due to an increase in fire-related fatalities in the pharmaceutical business. The solvent is very flammable. This element is predicted to impede the pharmaceutical solvent’s market expansion.

The very volatile nature of pharmaceutical solvents is predicted to limit market expansion. This is due to transportation and storage issues.

STRINGENCY IN RESIDUAL SOLVENTS TO CREATE LUCRATIVE PROSPECTS FOR GREEN PHARMACEUTICAL SOLVENTS

The development of medical and drug delivery systems is receiving major attention in the pharmaceutical industry. The formulation of pharmaceuticals and vaccines is using these solvents more and more.

The environment is being harmed by releasing harmful chemicals and leftover solvents. Due to the toxicity of the used solvents, regulatory agencies set strict regulations.

Therefore, manufacturers are heavily investing in developing green chemical processes to reduce the number of solvents utilized to lessen the toxicity. Key actors working for green solvents are anticipated to benefit greatly from this, opening them numerous prospects.

Market Segments Covered in Report

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 and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which chemical group will remain highly sought-after for pharmaceutical solvents?

Alcohol held a 34% market share in revenue in 2021, leading the global pharmaceutical solvent market by chemical type.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of 54.3%, the Asia Pacific Region is anticipated to be the most lucrative region for manufacturers of pharmaceutical solvents. Leading pharmaceutical firms, increasingly use green chemical processes for drug formulations, including Pfizer, Novartis, and others.
• Europe is anticipated to hold a 29.1% market share in 2022, dominating the global market for pharmaceutical solvents. With more pharmaceutical companies in Germany and the United Kingdom, demand in the area is expected to rise.

Competition Analysis

The market for pharmaceutical solvents is quite consolidated, with the top companies holding close to 50% of the market. To boost their sales, major producers of medicinal solvents are concentrating on solubilization technology.

While this is happening, some players are working with universities and start-ups in developing nations to provide eco-premium solutions. To comply with the strict requirements set by the government, they are also producing novel items.

The key developments in the Global Pharmaceutical Solvents Market:

• In August 2017, BASF India Limited, a BASF SE affiliate, opened a pharmaceutical technology lab at the Innovation Campus Asia Pacific in Navi Mumbai, India. The purpose of this facility, which goes by the name “BASF Pharma Solutions Lab,” is to serve the rapidly expanding South Asian pharmaceutical market, particularly generic medication manufacturing, which makes up more than 70% of the industry in India.

A list of some of the key suppliers present in the market are:

• BASF SE
• The Dow Chemical Company
• ExxonMobil Corporation
• Royal Dutch Shell PLC
• Yip’s Chemical Holdings Limited
• Mitsubishi Chemical Corporation
• Eastman Chemical Company
• Clariant AG
• Merck KGaA
• Procter & Gamble

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.