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.. However due to the current pandemic there might be slight difference in the growth rate in the present year. The growth and the expansion of the pharmaceutical industry is the main reason for the growth of this market. Besides this the increased healthcare expenditure by the population is also seen as one of the main reasons that will drive the growth of the market during the forecasted period. also there ius rise in the healthcare budget by the government of different countries which will further help to accelerate the growth of this market .
Global Pharmaceutical Solvents Market Is Estimated To Witness Remarkable Growth
Source: SAI Research
The Global Pharmaceutical Solvents Market has been segmented into Product Type, End-User . 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. The Product type segment is estimated to have great opportunity to drive the growth of the market.
By Region, North America Is Holding the Major Market Share
The Global Pharmaceutical Solvents Market has been geographically segmented into North America, Latin America, Asia Pacific, Middle East and Africa. In addition to this the Global Pharmaceutical Solvents Market is holding the largest market share currently and is estimated to witness highest compound annual growth in the upcoming forecasted period. increased utilization of the solvent in the pharmaceutical industries will help to boost the growth of the market. Asia Pacific region is expected to witness remarkable growth during the forecasted period because of the high scale and demand for the pharmaceutical solvent market in the Asia Pacific region.
Major Players in the Global Pharmaceutical Solvents Market
Some of the 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.
The Global Pharmaceutical Solvents Market Has Been Segmented Into:
GLOBAL PHARMACEUTICAL SOLVENTS MARKET, BY PRODUCT TYPE
GLOBAL PHARMACEUTICAL SOLVENTS MARKET, BY END-USER
GLOBAL PHARMACEUTICAL SOLVENTS MARKET, BY REGION