Phase transfer catalyst is a catalyst which
enables the migration of a reactant from one phase into another. It is a
special form of heterogeneous catalysis. Ionic reactants are often soluble in
aqueous phase, but insoluble in an organic phase in the absence of the phase
transfer catalyst. It acts as a detergent for solubilizing salts into organic
phase. It is employed in liquid/gas and liquid/solid reactions. It is
responsible for accelerating the reaction in order to achieve higher
conversions or yields and reduces the byproducts. It is widely used in green
chemistry as it reduces the need for organic solvents.
According to study, “Global
Phase Transfer Catalyst Market Size study, by Type (Ammonium Salts, Phosphonium
Salts, Others), End-Use Industry (Agrochemicals, Pharmaceuticals, Others) and
Regional Forecasts 2018-2025” the key companies operating in the global
phase transfer catalyst market are Tokyo Chemical Industry Co., Ltd., Sachem
Inc., Nippon Chemical Industrial Co., Ltd., PAT IMPEX, Dishman Group, Tatva
Chintan Pharma Chem Pvt. Ltd., Central Drug House (P) Ltd., GFS Chemicals,
Inc., Volant-Chem Corp., Pacific Organics Private Limited, Otto Chemie Pvt.
Ltd. Key companies are expected to invest in research & development
activities to develop new products & gain traction among consumers.
Based on type, phase transfer catalyst market
is segmented into phosphonium salts, ammonium salts and others (cryptands and
crown ethers). Phosphonium salts are further sub-segmented in to Methyl
triphenyl phosphonium bromide, ethyl triphenyl phosphonium bromide, methyl
triphenyl phosphonium chloride, benzyl triphenyl phosphonium chloride and ethyl
triphenyl phosphonium chloride. Additionally, ammonium salts segment is further
sub-segmented into tetra butyl ammonium bromide, tetrabutylammonium fluoride trihydrate,
tetrabutylammonium hydrogen sulfate, and tetra butyl ammonium chloride. In
addition, based on application, market is segmented into agrochemicals,
pharmaceuticals (synthesis, drug formulation, and laboratory applications) and
others (chemicals & cosmetics). The pharmaceutical segment is estimated to
observe a significant growth owing to rise in demand from appearing economies
during the forecast period.
The phase transfer catalyst market is driven
by increase in adoption of green chemistry in organic synthesis, followed by
rise in investments in research & development (R&D), increase in
geriatric population, rise in technological advancements such as artificial
intelligence, increase in awareness regarding healthcare and growth of pharmaceuticals
industry. The adoption of green chemistry is increasing as a result of the
economic & environmental benefits associated with it such as high yields,
requires a smaller number of feedstocks, reduces waste, as well as water & energy saving.
However, availability of low-cost substitutes may impact the market. Moreover,
scope for vertical and backward integration in the market is a key opportunity
for market.
Based on geography, the North-American region
holds major share in phase transfer catalyst market owing to rise in demand of
phase transfer catalyst in chemical manufacturing industries in the region.
European region also contributes a satisfactory growth in the market due to
increase in demand of various chemicals on a large scale. The Asian-Pacific
region is anticipated to show higher growth rate on account of growth in
chemical manufacturing industries in developing countries over the forecast
period. It is anticipated that the market will be reached at US $1368.6 million
by 2025.
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