The Global Pharmaceutical Solvents Market was valued at $14.6 Billion in 2020. Growing at a high CAGR of more than 4.6% between 2020 and 2030, it is estimated to reach $23.0 Billion by 2030, as per the latest market research report titled Global Pharmaceutical Solvents Market (By Product Type- Alcohol, Amine, Esters, Ethers, Other Solvents. By End-User – Pharmaceutical Industry, Research Laboratories, Chemical Industry. By Geography – Latin America, Europe, Asia Pacific, Middle East and Africa, North America.) – Global industry analysis, size, share, growth, trends and forecast, 2020 – 2030.
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The increased utilization of the solvent in the pharmaceutical industries is the main factor for thr growth of the market in the forecasted period. the solvents are used as a building blocks, active substances, excipients at any step for the synthesis pathway or even during the drug formation process. In the market the organic solvents is now getting a good hold and are actually excellent to find its use in the production of tablets. Solvents such as acetone, ethyl, methanol, ethanol are being used to coat the high quality tablets. The alcohol derived solvents are gaining a lot of popularity amidst the COVID-19 pandemic. It is because there is increased usage to manufacture the hand sanitizers that is very much important during this pandemic. Besides this the research and development is also expeted to drive the growth of the market during the forecasted period. the increased demand for environment friendly and low volatile organic compound has been witnessed in the recent years.
Geographically the Global Pharmaceutical Solvents Market is divided into global regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The primary key players in the Global Pharmaceutical Solvents Market include BASF SE, Bayer Group, Akzonobel N.V., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., E.I. duPont de Nemours and Company, Mitsui Chemicals, Braskem SA, PPG Industries, Eastman Chemical Company.
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The Global Pharmaceutical Solvents Market Has Been Segmented Into:
By Product Type
- Other Solvents
By End-User Type
- Pharmaceutical Industry
- Research Laboratories
- Chemical Industry
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa