Fine Chemicals Market is Continuously Growing and is Projected to Reach $191.03 Billion by 2021

According to the report “Fine Chemicals Market: By End Use Industry (Pharmaceuticals, Agrochemicals, Polymer Additives, Food & Feed, Pigments, Dyes, Electronics, Perfumes and Fragrances, Others); By Geography - (2013-2021)” published by IndustryARC, estimates the market to reach $191.03 billion by 2021.

The fine chemical industry is a typical processed and intermediary materials industry that procures basic chemicals produced by the petrochemical industry to supply raw materials and auxiliary materials to downstream industries. Fine chemicals manufacturing is typically carried out in batch processes, with synthesis being followed by separation and purification steps. Pharmaceutical has always been the largest market for the fine chemicals industry. Moreover, it is likely that pharmaceutical intermediates will account for over 70% of the fine chemicals market by 2017. Although the number of fine chemicals companies involved in the manufacture of high potency APIs (HPAPIs) has historically been limited, the segment has attracted more companies recently.

Based on end-users of fine chemicals, the fine chemicals market is segmented into pharmaceuticals, agro chemicals, polymer additives, food and feed, electronics, dyes and pigments, perfumes and fragrances, and others. Fine chemicals are used in many industries such as agrochemicals, food & feed, perfumes & fragrances, electronics and so on. However, agrochemicals and perfumes & fragrances are the major industries which are occupying prominent share among all other applications after pharmaceuticals. Agrochemical companies are the second largest users of fine chemicals. As a consequence of an intensive M&A activity over the past 10–20 years, the industry now is more consolidated than the pharmaceutical industry.

Growing pharmaceutical industry coupled with Development of efficient protein-based catalysts, enzyme capabilities and new reactor technologies in fine chemicals processing are anticipated to propel the demand for fine chemicals

The global fine chemicals market is estimated to grow with a CAGR of 5.76% during the forecast period and will reach $191.03 billion by 2021.  The market of fine chemicals has been segmented into North America, Asia-Pacific, Europe and Rest of the World (RoW) on basis of geography. In 2016, North America is the prominent region for fine chemicals market and is estimated to grow with CAGR of 5.80% during the forecast period. However Asia-Pacific is the fastest growing market for fine chemicals and is estimated to grow with a CAGR of 6.94% during the forecast period. The growth in Asia-Pacific is attributed to the increasing pharmaceuticals and agro chemical industries in the emerging countries like China, India, and South East Asia countries.