Phase Transfer Catalyst Market worth $1,232 million by 2023 | Key players SACHEM Inc. (US), Tokyo Chemical Industry Co., Ltd. (Japan), Nippon Chemical Industrial Co., Ltd. (Japan), PAT IMPEX (India).

According to recent market research the "Phase Transfer Catalyst Market by Type (Ammonium Salts, Phosphonium Salts), End-use Industry (Pharmaceuticals, Agrochemicals), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2023" The phase transfer catalyst market is expected to grow from USD 960 million in 2018 to USD 1,232 million by 2023, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period. The major factors driving the phase transfer catalyst market include rising demand and adoption of green chemistry in organic synthesis.

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Based on material type, the ammonium salts segment is expected to grow at the highest CAGR in the phase transfer catalyst market during the forecast period. The phase transfer catalyst market by type has been categorized into ammonium salts, phosphonium salts, and others, including crown ethers and cryptands. Ammonium salts such as tetra butyl ammonium bromide, tetrabutylammonium hydrogen sulfate, tetrabutylammonium fluoride trihydrate, and tetra butyl ammonium chloride are the most widely used phase transfer catalysts. These are easily available and inexpensive in comparison to other onium salts. In addition, ammonium salts have high demand from emerging economies in the Asia Pacific and Middle East & Africa, owing to their low cost.

Based on end-use industry, the pharmaceutical segment is expected to lead the phase transfer catalyst market during the forecast period. In the pharmaceutical industry, there is a high demand for green chemistry compounds in applications, such as active pharmaceutical ingredients, synthesis of drugs, and formulation of drugs or derivative compounds, among others. Moreover, in drug formulations, there is a growing demand for catalysts possessing properties, such as high reaction velocity between 2 immiscible phases, nontoxicity, and solvent waste reduction. Therefore, the pharmaceutical industry is expected to be the largest end-use industry in the phase transfer catalyst market during the forecast period.

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North America is estimated to account for the largest share of the market in 2018. The region is an established market for phase transfer catalysts owing to high capabilities for investments in R&D and facilities for the adoption of phase transfer catalysis. In addition, the US is among the largest producers and consumers of pharmaceutical and agricultural products; wherein phase transfer catalyst products are used for chemical synthesis, R&D, and formulations. This factor is fueling the growth of the phase transfer catalyst market in North America.

Major manufacturers in the phase transfer catalyst market include SACHEM Inc. (US), Tokyo Chemical Industry Co., Ltd. (Japan), Nippon Chemical Industrial Co., Ltd. (Japan), PAT IMPEX (India), Tatva Chintan Pharma Chem Pvt. Ltd. (India), and Volant-Chem Corp. (China).

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SACHEM Inc. (US) is the leader in the phase transfer catalyst market. It manufactures and distributes a wide variety of ammonium salts for pharmaceutical, agrochemical, and polymer applications. The company is focused on the development of new products to stay competitive and gain a market share in the phase transfer catalyst industry. For example, in 2012, the company introduced the Salego BASE 1000 Series, which are used as phase transfer catalysts in the pharmaceutical industry. The strategy helped the company to strengthen its product portfolio and has helped the company meet increasing demands for organic synthesis manufacturing techniques in the pharmaceutical industry.

Tokyo Chemical Industry Co., Ltd. (Japan) is one of the leading players in the global phase transfer catalyst market and leading manufacturer of fine chemicals for research and commercial use. The company provides pharmaceutical, cosmetic, and functional materials. The company has a product portfolio of more than 28,000 synthesis products and reagents. The company has strong geographic presence and facilities in North America, Europe, and China.

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