The cyclopropanol market is estimated to be valued at US$ 745.5 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Cyclopropanol is a cyclopropyl derivative of propanol. It is primarily used as an intermediate in the pharmaceutical and chemical industries for manufacturing other fine chemicals, API's, solvents, polymers, etc. Some key applications of cyclopropanol include manufacturing antimicrobials, antifungals, analgesics, diabetes drugs, and other pharmaceutical drugs.

Market Dynamics:
The global cyclopropanol market is witnessing high growth owing to growing demand from the pharmaceutical industry. Rapid expansion of pharmaceutical sector across various regions and growing demand for new drugs to treat chronic diseases like cancer, diabetes, cardiovascular diseases etc. is driving the demand for cyclopropanol. Furthermore, increased R&D activities in drug development and availability of cyclopropanol as an important chemical building block or pharmaceutical intermediate is also fueling the market growth. Additionally, wide applications of cyclopropanol derivatives in agrochemicals, polymers, and solvents industry provide huge potential for market players. However, stringent regulations regarding handling and production of hazardous chemicals may hinder the market growth during the forecast period.

SWOT Analysis
Strength: Cyclopropanol exhibits excellent chemical properties such as high thermal stability, solvent properties and ability to serve as an intermediate in drug synthesis. Its versatile properties allow its application across industries like pharmaceuticals, agriculture and electronics industry. Growing demand from end-use industries is driving research and development of new applications of cyclopropanol.
Weakness: High manufacturing and production cost of cyclopropanol makes it expensive compared to alternatives. Stringent government regulations around the production, transport and use of cyclopropanol increases compliance cost for companies.
Opportunity: Increasing funding and initiatives for research & development of novel drugs and agrochemicals presents an opportunity for greater cyclopropanol adoption as an intermediate. Expanding electronics and automotive sectors in developing economies provides growth avenues.
Threats: Presence of substitute chemicals that can be used as intermediates threatens cyclopropanol demand. Economic slowdowns and downturns impact investment in end-use industries negatively.

Key Takeaways
The Global Cyclopropanol Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand from end-use industries such as pharmaceuticals, agrochemicals, and polymers.

Regionally, Asia Pacific dominates the global cyclopropanol market and is expected to maintain its pole position over the forecast period attributed to rapid industrialization, growing pharmaceutical sector, and favorable government policies supporting chemicals industry in major countries including China and India.

Key players operating in the cyclopropanol market are BASF SE, Eastman Chemical Company, Merck KGaA, Evonik Industries AG, Tokyo Chemical Industry Co., Ltd., Alfa Aesar, TCI America, MP Biomedicals, Santa Cruz Biotechnology, Inc., and Energy Chemical. BASF SE is the global market leader owning over 20% market share owing to its diversified product portfolio and global production footprint.

Read more:  https://makuv.com/pharmaceuticals-is-fastest-growing-segment-fueling-the-growth-of-cyclopropanol-market/