As of the projected year 2032, the European fine chemical industry is poised to witness substantial growth, with an anticipated demand reaching a noteworthy value of US$ 53,714.2 million, as indicated by Future Market Insights’ research. The driving force behind this anticipated expansion lies prominently in the sustained production of pharmaceuticals and agrochemicals, establishing these sectors as key elements propelling market growth. This trajectory underscores the industry’s resilience and strategic positioning within the pharmaceutical and agrochemical domains, further solidifying its pivotal role in the broader economic landscape.
A key portion of the overall consumption in Europe is being catered through import of various fine chemicals from East Asia. Germany and the United Kingdom are key consumers of fine chemicals in the region owing to strong presence of prominent end use industries. Pharmaceuticals remain a prominent end-use industry for fine chemicals followed by agriculture sector, with medicine industry consuming active pharmaceutical ingredients which account for a key part of the fine chemical industry.
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With rising population and decreasing agricultural product supply from Ukraine and Russia, demand for agrochemicals is witnessing a significant growth to foster the surging requirement for high yield of 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.
Key Takeaways from Europe Fine Chemical Industry Study
- Fine chemicals are estimated to witness a growth forecast of 9% CAGR on a value basis in the Europe market.
- Germany and France are expected to collectively account for around 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 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 Industry
The Europe fine chemical market is estimated to be a consolidated industry, where key players are expected to account for a prominent share. 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 has 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 increasing demand for fine chemicals from the pharmaceutical industry, a few prominent businesses are concentrating on investing in their manufacture. 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 Industry Report
In its latest report, Future Market Insights offers an unbiased analysis of the European fine chemical industry, 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.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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