Phenylboronic Acid Market Size, Share, Growth, And Industry Growth, By Type (99% Phenylboronic Acid, 98% Phenylboronic Acid, And 95-98% Phenylboronic Acid), By Application (Pharmaceutical Intermediates, Liquid, Crystal Materials, And Others), Regional Forecast To 2031

Updated On: 08 April 2024

Phenylboronic Acid Market REPORT OVERVIEW

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The global phenylboronic acid market size was USD 12 million in 2022 and is projected to touch USD 18.52 million by 2031, exhibiting a CAGR of 5.0% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with phenylboronic acid experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Phenylboronic acid is a boronic acid that has boron attached to two hydroxyl groups and phenyl substituent and is soluble in organic solvents. The product is not completely soluble in carbon tetrachloride and hexanes. The boronic acid compounds contain chemical species that can accept an electron from the Lewis base. These chemical species are known as Lewis acids. These chemical species are easy to handle and stable, making them important in organic synthesis. 

Phenylboronic acid is an organic synthesis that looks like a white powder. It is also known as benzene boronic acid and is abbreviated as PBA. It is used as a binding domain moiety because it works to block adhesion to tissues and cells' surfaces. This chemical compound is a unique sorbent that can form a covalent bond with a few specific analyses. Additionally, the presence of the product as a catalyst in a reaction makes the reaction organic and does not release any harmful gasses into the environment. It works as a catalyst, makes the reaction easy, and increases the rate of reaction of the compound. 

COVID-19 Impact: Lockdowns & Reduction in Manpower to Register Negative Impact During Pandemic

The ongoing pandemic has affected various sectors globally, and the chemicals and materials sector was no different. Emerging economies-imposed lockdowns to curb the spread of the virus, which resulted in a negative impact on the market. Additionally, increased dependency on the chemicals and acids combined with a faltering transport system globally decreased the market growth during the intended duration. Additionally, prominent players in the sector had to undergo closure due to human resources shortages. Many firms were forced to operate at less-than-optimal capacity, contributing to their downfall. 

LATEST Trends

"Less Toxic Nature of the Product to Garner Product Demand"

Phenylboronic acid participates in various chemical reactions. This compound generally participates in the cross-coupling reactions where it is expected to work as a catalyst. The presence of phenylboronic acid increases the reaction rate and reduces the energy required for the reaction between two compounds. This product is safer and least toxic. Additionally, the reactions in the presence of phenylboronic acid as a catalyst are comparatively cheap reagents and can be prepared easily. 

Phenylboronic Acid Market Segmentation

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• By Types

By type, the market is segmented into 99% phenylboronic acid, 98% phenylboronic acid, and 95-98% phenylboronic acid.

99% phenylboronic acid is expected to dominate other segments as it is widely used in manufacturing medicines in pharmaceutical industries. 

• By Application Analysis

Based on application, the market is classified into pharmaceutical intermediates, liquid, crystal materials, and others.

DRIVING FACTORS

"Adoption of Product in Various Industries to Drive Product Demand"

The expanding adoption of products in various industries for the manufacturing of various materials is expected to drive phenylboronic acid market growth. The product is used to manufacture liquid crystal material, pharmaceutical intermediates, and others. Moreover, it is also used in industrial applications in synthesizing intermediates for fine chemicals or pharmaceuticals. Furthermore, it is also used in syntheses of complex chemical compounds. 

"Rising Number of Diabetic Patients to Support Market Growth"

The increasing incidences of diabetes among the population are anticipated to drive market growth. The product is used in the manufacturing of medicines used to control sugar levels in the patient's body. The constantly increasing cases of diabetes are noticed due to the rising population and frequent infections in the general population, which is expected to encourage the product's adoption. 

RESTRAINING FACTORS

"Strict Government Restrictions On the Usage of Chemicals"

The government has strict rules and regulations on the usage of chemicals as it causes many side effects to humans and the environment. Such chemicals release harmful gasses into the environment, which is expected to affect the surrounding.  These gases mix with the air and cause respiratory problems and skin irritation. The industries need to follow safety guidelines to manufacture such chemicals, which is expected to hinder the phenylboronic acid market growth.

Phenylboronic Acid Market REGIONAL INSIGHTS

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"North America to Dominate Due to Higher Concerns for Environmental Safety"

North America is anticipated to witness a maximum share in the market due to the population's higher standards of living. Rising concern for the environment is expected to surge substantial growth in North America's market. Additionally, easily available products in the market are anticipated to boost product demand in the region.

Europe is anticipated to show sizable growth in the global market due to the population's rising per capita income. The region's growth is also expected to be backed by the rapid agricultural revolution. The government initiatives to save the environment from waste pollution are also forecasted to surge growth in the regional market.

Asia Pacific is estimated to register good growth due to emerging countries and their rising population and industrialization. The steady adoption of new technologies and products is also expected to bolster growth in the region. 

KEY INDUSTRY PLAYERS

"Companies Employ Mergers and Acquisitions to Dominate Other Competitors"

Key companies strive to gain maximum part of the phenylboronic acid market share by adopting advanced techniques. The players also emphasize developing strategies that offer long-term growth and ensure the company's share in the market. Gaining collaborations and acquisitions are one of their growth strategies. The companies also develop advanced products to gain more customers in the global market. Other players are focused on increasing their investments in R&D activities to capture the consolidated market share. 

List of Market Players Profiled

• Hebei Maison Chemical (China)
• Optima Chemical (Georgia)
• Beijing Purechem (China)
• Jinan Finer Chemical (China)
• Midori Kagaku (Japan)
• UIV Chem (China)
• Denisco (Denmark)
• Triveni Chemicals (India)
• Beijing Golden Olive (China)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market leaders and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.