The global phase-transfer catalyst market has been segmented into five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The North American market held the largest share of the global market in 2018 on account of the high demand for phase-transfer catalyst in the pharmaceutical industry. This is due to the increased spending on R&D for development of new drugs which are of low cost and effective. The growth in the demand is also attributed to the growing geriatric population in the region. Moreover, technological advancements such as the adoption of 3D printing, nanotech, bionics, and predictive analytics by artificial intelligence are positively influencing the growth of the pharmaceuticals industry and consequently the growth of the regional market.
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The European market is projected to witness significant growth during the forecast period on the backdrop of the expanding pharmaceuticals industry. According to the European Federation of Pharmaceutical Industries and Associations, Europe invested nearly USD 42,215.36 million in R&D for pharmaceuticals in 2017.
Asia-Pacific is projected to be the fastest-growing region due to the growing demand for phase-transfer catalyst in the production of agrochemicals and pharmaceuticals. The growth in the demand for agrochemicals in the region is attributed to the presence of agricultural countries such as India, Malaysia, and Vietnam. The demand is supported by rapid industrialization and urbanization, which have resulted in limited availability of arable land, increasing the need for agrochemicals. Furthermore, the growing pharmaceuticals industry in the region owing to the growing geriatric population coupled with increasing prevalence of generic diseases is expected to boost the regional market growth during the assessment period.
The demand for phase-transfer catalyst in Latin American and the Middle East & African is primarily driven by the expanding pharmaceutical base and increasing expenditure on the same.
The global phase-transfer catalyst market has been segmented on the basis of type, application, and region.
By type, the global market has been segmented into ammonium salts, phosphonium salts, and others. The others segment includes crown ethers and cryptands.
Based on application, the global market has been segmented into pharmaceuticals, agrochemicals, and others.
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