NEWARK, DE / ACCESSWIRE / January 31, 2023 / At end of the projected year (2032), demand is anticipated to reach a worth of US$ 53,714.2 million, according to research on the Europe fine chemical market by Future Market Insights. Production of pharmaceuticals and agrochemicals is expected to continue to be a leading element driving the market's expansion.
A key portion of the overall consumption in Europe is being catered to through the import of various fine chemicals from East Asia. Germany and the United Kingdom are key consumers of fine chemicals in the region owing to the strong presence of prominent end-use industries. Pharmaceuticals remain a prominent end-use industry for fine chemicals followed by the agriculture sector, with the medicine industry consuming active pharmaceutical ingredients which account for a key part of the fine chemical industry.
With the rising population and decreasing agricultural product supply from Ukraine and Russia, demand for agrochemicals is witnessing significant growth to foster the surging requirement for high-yield crops. Boosting demand for pharmaceuticals is expected to propel the consumption of active pharmaceutical products and drugs in the next ten years.
Key companies are establishing new divisions which focus on developing specific drugs for certain events such as hematological oncology and solid tumors. Ongoing research and development activities to develop advanced products with better performance in oncology therapy are also expected to favor demand over the forecast period.
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Key Takeaways from Europe Fine Chemical Market Study
• Fine chemicals are estimated to witness a growth forecast of 4.9% CAGR on a value basis in the Europe market.
• Germany and France are expected to collectively account for around 43.1% of the overall fine chemical market share in Europe.
• Pharmaceuticals segment by product type is expected to create an absolute $ opportunity of US$ 13,686 million between 2022 and 2032 in Europe's fine chemical market.
• Germany is a key importer of fine chemicals with an estimated import volume of 9,711.1 tons in 2021.
• The Europe market for fine chemicals is estimated to reach a valuation of US$ 33,612.1 million in 2022.
"Increasing demand for fine chemicals for the manufacturing of peptides & proteins, active pharmaceutical ingredients, alkaloids, excipients, and steroids would drive sales in the market. Fine chemicals are set to be used for the treatment of cancer and cardiovascular disease," says a lead analyst at Future Market Insights.
Competitive Landscape: Europe Fine Chemical Market
The Europe fine chemical market is estimated to be a consolidated industry, where key players are expected to account for a prominent share. A few of the key manufacturers, including Sumitomo Chemicals, BASF SE, GlaxoSmithKline plc, ChemadaIndustries Ltd., Lonza, Boehringer-Ingelheim International GmbH, Pfizer Inc, Johnson Matthey, Royal DSM N.V, Merck and Co., Lanxess, Albemarle Corporation, Novartis International AG, Borregaard AS, Solvay SA, Evonik Industries AG, CLARIANT AG, and BAYER AG among others have been covered in Future Market Insights' research study.
To expand their geographic reach globally and acquire traction in the industry, key players are concentrating on raising their production capabilities. Due to the increasing demand for fine chemicals from the pharmaceutical industry, a few prominent businesses are concentrating on investing in their manufacturing. The growth strategies of the key market participants also involve contract production for fine chemicals on a merchant basis.
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Get More Insights into the Europe Fine Chemical Market Report
In its latest report, Future Market Insights offers an unbiased analysis of the Europe fine chemical market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the Europe market potential, growth, and scope, the market is segmented based on product type (pharmaceuticals, agrochemicals, construction chemicals, additives, specialty polymers, pigments & dyes, flavors & fragrance ingredients, water treatment chemicals, surfactants), manufacturing type (captive, merchant), end use (pharmaceuticals & nutraceuticals, agriculture industry, cosmetics & personal care, petrochemicals & plastic industry, food & beverages, electronics, paints & coatings, building & construction, lubricants & oil, textiles), and country.
Europe Fine Chemical Market Segmentation
By Product Type:
- Pharmaceuticals
- Agrochemicals
- Construction Chemicals
- Additives
- Specialty Polymers
- Pigments and Dyes
- Flavors and Fragrance Ingredients
- Water Treatment Chemicals
- Surfactants
By Manufacturing Type:
- Captive
- Merchant
By End Use:
- Pharmaceuticals and Nutraceuticals
- Agriculture Industry
- Cosmetics and Personal Care
- Petrochemicals and Plastic Industry
- Food and Beverages
- Electronics
- Paints and Coatings
- Building and Construction
- Lubricants and Oil
- Textiles
By Country:
- Germany
- Italy
- France
- United Kingdom
- Spain
- BENELUX
- Russia
- Rest of Europe
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About the Chemicals and Materials Division at Future Market Insights
The chemicals and materials division of Future Market Insights offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling, renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing - ‘The Way Forward'.
Table of Content
1. Executive Summary | Europe Fine Chemical Market
1.1. Europe Fine Chemical Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Fine Chemical Market Overview
2.1. Fine Chemical Market Coverage / Taxonomy
2.2. Fine Chemical Market Definition / Scope / Limitations
3. Key Fine Chemical Market Trends
3.1. Key Trends Impacting the Fine Chemical Market
3.2. Product Innovation / Development Trends
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/europe-fine-chemical-market
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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