Piperidine Market worth $86 million by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO , June 9, 2022 /PRNewswire/ -- According to the new market research report "Piperidine Market by Type (99% Purity and 98% Purity), End Use Industry (Pharmaceutical, Agrochemicals, Rubber, and Others), Region (Asia Pacific, Europe, North America, Middle East & Africa and South America) - Global Forecast to 2027", published by MarketsandMarkets™, the global Piperidine Market is projected to grow from USD 64 million in 2022 to USD 86 million by 2027, at a CAGR of 5.9% from 2022 to 2027. The market growth is fuelled by the growing demand of pharmaceutical drug in treatment of chronic disease and drug for aging-related, high demand as solvents, base and catalyst in different industries.
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99% purity segment to dominate the piperidine market in terms of value during the forecast period
BY type segment include 99% purity and 98% purity subsegments. 99% purity type is projected to dominate the market and to grow at faster rate than 98% purity type. This is due to the need of high purity APIs in pharmaceutical industry to ensure quality of drug. In addition, demand of pharmaceutical drugs are increasing pertaining to the rise in prevalence of diseases. This is fueling the demand for 99% purity piperidine.
Pharmaceutical end use industry segment to dominate the piperidine market during the forecast period
By end use industry segment includes pharmaceutical, agrochemicals, rubber, and others subsegment. Pharmaceutical end use industry is projected to dominate the piperidine market with larges market share. This is attributed to the growing affordability of healthcare treatments, increasing diseases prevalence, improved governmental policies for approval and launch of pharmaceutical drugs.
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Europe is the second-largest market for piperidine market during the forecast period
Europe is projected to be the second-largest market for piperidine globally. The major markets in Europe, such as Germany, France, Italy, Russia, Spain, and the UK, have a high demand for piperidine. This is due to the presence of leading crop protection chemical manufacturers and API manufacturers in the region. Factors such as the increasing prevalence of chronic diseases, rising government investments in the pharmaceutical sector, and the growing pharmaceutical industry are driving the European piperidine market.
The piperidine market comprises major solution providers, are BASF SE (Germany), Koei Chemical Co. Ltd. (Japan), Vertellus (US), Jubilant Ingrevia Limited (India), Vasudha Pharma (India), Taj Pharmaceuticals Ltd. (India), Avantor Inc. (US), Allchem Lifescience Pvt. Ltd. (India), Toronto Research Chemicals (Canada), Merck KGaA (Germany) among others. The study includes an in-depth competitive analysis of these key players in the piperidine market, with their company profiles, and key market strategies.
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