by The global Cyclopropanol Market is estimated to be valued at US$ 745.5 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cyclopropanol is a cyclopropyl derivative. It acts as a reactive intermediate in organic synthesis. Cyclopropanol finds application in manufacturing various agrochemicals, pharmaceuticals, polymers, and fragrances. It provides advantageous properties such as increased stability and lipophilicity to end products.
Market key trends:
One of the key trends in the cyclopropanol market is growing demand from pharmaceutical industry. Cyclopropanol derivatives are widely utilized in manufacturing various active pharmaceutical ingredients (APIs) due to their enhanced chemical and metabolic stability properties. They offer improved bioavailability and prolonged shelf-life to drugs. Increasing generic and botanical drug formulations production across the globe is fostering the consumption of cyclopropanol.
Market key trends:
One of the key trends gaining traction in the cyclopropanol market is its increasing demand from the pharmaceutical industry. Cyclopropanol is an important intermediate used in the manufacturing of various prescription drugs. It is widely used as a protecting group for alcohols in organic synthesis which helps control the reactivity of functional groups. Furthermore, the growing generic drugs market globally has increased the demand for cyclopropanol from pharmaceutical companies.
SWOT Analysis
Strengths: Wide applications in pharmaceutical and agrochemical industries, stable chemical properties make it suitable for production of various end-products.
Weaknesses: Toxic in nature, proper safety measures needed during production and handling.
Opportunities: Growing generic drugs market worldwide, potential for developing new agrochemical and pharmaceutical intermediates.
Threats: Stringent regulations pertaining to environmental safety and product quality, availability of substitute chemicals.
Key Takeaways
The Global Cyclopropanol Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand from the pharmaceutical industry for production of various drugs.
Regional analysis: North America dominated the cyclopropanol market in 2020 and is expected to continue its dominance over the forecast period. This is attributed to presence of major pharmaceutical companies and growth of generic drugs market in the region. Asia Pacific is expected to be the fastest growing market during the forecast period owing to expansion of pharmaceutical industry, especially in India and China.
Key players operating in the cyclopropanol market are BASF SE, Eastman Chemical Company, Merck KGaA, Evonik Industries AG, Tokyo Chemical Industry Co., Ltd., Alfa Aesar, TCI America, MP Biomedicals, Santa Cruz Biotechnology, Inc., Energy Chemical.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
