The impact of COVID-19 pandemic can be felt across the chemical industry. The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in chemical plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the chemicals industry.
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The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the chemical industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
Persistence Market Research delivers crucial insights on the global HPQ & Silica for Pharmaceutical market in its latest report titled ‘HPQ & Silica for Pharmaceutical Market: Global Industry Analysis 2013–2017 and Forecast 2018–2026’. The long standing viewpoint for the global HPQ & Silica for Pharmaceutical market rests progressive with the market value expected to grow at a CAGR of 6.3% during the forecast period (2018–2026). Among the product type segments, the silica segment is expected to expand at a significant CAGR in terms of volume over the forecast period. Among the application segments of HPQ, the glassware & equipment: medical storage segment and among the application segments of silica, the dental fillers segment are expected to witness high CAGRs in terms of value over the forecast period. The glassware & equipment segment is expected remain dominant in terms of value among all the application segments in the global HPQ & Silica for Pharmaceutical market, owing to the increasing demand for excipients in drug formulations.
The global market for HPQ & Silica for Pharmaceuticals is estimated to be valued at 171,253 thsd US$ by the end of 2018 and witness a cumulative annual growth rate of 6.3% over the forecast period. China is likely to capture a substantial value share in the global HPQ & Silica for Pharmaceutical market by 2018 end and is projected to remain the leading region during the course of the forecast period in the HPQ & Silica for Pharmaceutical market.
The HPQ & Silica for Pharmaceutical market is pegged to register noteworthy growth in the coming years, particularly in China, Europe, North America & South East Asia. The growing demand for excipients in China & rising dental implant activities in Europe & America are expected to drive the HPQ & Silica for Pharmaceutical market.
However, the global HPQ & Silica for Pharmaceutical market is likely to face certain hurdles. Manufacturers have to follow certain regulations pertaining to HPQ & Silica for Pharmaceuticals, which include IP, BP, USP, JP and EP.
Prominent manufacturers are deeply involved in the introduction of HPQ & Silica for Pharmaceuticals that comply with international regulations and certifications in order to enhance their presence in the market. Manufacturers are focusing on the expansion of their customer base in Asia Pacific, which has shown a significant increase in the demand for HPQ & silica from pharmaceutical applications. Incumbents have also been engaged in merger and acquisition activities in order to expand their market share and strengthen their position in respective regions. These are the key trends identified in the global HPQ & Silica for Pharmaceutical market.
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On the basis of product type, the silica segment is anticipated to dominate the HPQ & Silica for Pharmaceutical market over the forecast period
On the basis of sub-segments, fumed & synthetic silica cumulatively hold more than a 60% market share by value. Fumed & synthetic silica are the key choices for excipient & glassware applications in HPQ & Silica for Pharmaceutical market
On the basis of application, HPQ is gaining adoption in the fabrication of glassware & equipment. The segment is expected to grow 1.6 times during the forecast period in HPQ & Silica for Pharmaceutical market
On the basis of application, the nutraceutical & excipient segment is expected to remain dominant in terms of adoption of silica. The segment is expected to account for almost a 22% share of the overall incremental $ opportunity generated in the HPQ & Silica for Pharmaceutical market
Europe and China collectively entertained close to a 65% share in the global HPQ & Silica for Pharmaceutical market by the end of 2017. The SEAP region is a key production base for pharmaceutical products and thus, the region is expected to create significant growth opportunities in the global HPQ & Silica for Pharmaceutical market.
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