Chiral molecule forms an identical pair of molecule with similar functional structure, composition, and shapes. Four different substituent groups are attached to carbon in clockwise or anti-clockwise direction, resulting in non-superimposable enantiomer pair. Most commonly, the chirality originates at a tetrahedral and asymmetric carbon atom.
Increasing use of chiral chemicals in agrochemicals is anticipated to drive the chiral chemicals market growth over the forecast period. However, stringent government regulations and environmental issues concerned with the chiral pesticides are likely to restrain the growth of the market over the forecast period.
Technology segment includes traditional separation methods and asymmetric preparation. Asymmetric preparation segment is estimated to be the major technology segment in the global chiral chemicals market. Rising demand for pharmaceutical products that require synthesis of enantiomers and diastereomers with different biological activity is expected to drive the market growth over the forecast period. Asymmetric catalysis is largely used as asymmetric preparation technology owing to cost-effective and high yield ability.
Applications segment includes pharmaceuticals, agrochemicals, flavors and fragrances, and others. Agrochemicals application segment is expected to grow over the forecast period owing to growing demand for eco-friendly pesticides for crops. Chiral chemicals are used in agrochemicals such as pesticides, herbicides, fungicides, plant growth regulators, and pheromones. Increasing focus towards high crop yield owing to rising population is expected to boost the agrochemicals segment which in turn is estimated to drive the chiral chemicals market.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is estimated to be the fastest growing region in terms of revenue. Increasing demand for pharmaceutical products in China, India, and Indonesia is expected to fuel the market growth in the region. Rising demand for natural fragrances and agrochemicals in the region is expected to have a positive impact on the chiral chemicals market.
Key players operating in the global chiral chemicals market include The Dow Chemical Company, BASF SE, W. R. Grace & Co., Johnson Matthey PLC, Chiral Technologies, Chiral Quest (Suzhou) Co., Ltd, Merck KGaA, Tyche Industries Limited, Strem Chemicals, Inc, and Chiracon GmbH.