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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Ankur Gupta, Head Marketing & Communications