“The pharmaceutical sector is primarily expected to drive the phthalimide market over the forecast period.”
Phthalimide Market: Introduction
Phthalimide are best described as imides of phthalic acid. Phthalimide have applications such as herbicides, insecticides, antipsychotics and anti-inflammatory agents. Phthalimide are used as a key intermediate in multiple industrial process and medical products. Phthalimide are used as an intermediate in preparation of bioactive compound such as antibacterial, antifungal, virucide and many more. Phthalimide are used as raw materials to manufacturer phthalocyanine dyes which are used as dyes, pigments, photovoltaic, photodynamic therapy, nanoparticle construction and catalyst. Phthalimides are also used as a food preservatives against fungus formation. Industrially phthalimides are preferred for synthesis of primary amines and amino acids in form of sodium or potassium salt, inhibitors for oxidation and other photochemical reactions, primary amines and amino acids are very important raw materials for many pharmaceutical products. Phthalimide also find application in the food industry as they are used as preservatives. Phthalimide is used to manufacture multiple pharmaceutical intermediates also such as potassium phthalimide, N-Hydroxyphthalimide and Tri Chloro Acetic Acid.
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Phthalimide Market: Dynamics
The pharmaceutical sector has witnessed a steady growth over the recent years due to the increase in aging population and improvement in healthcare services, this in turn will drive the phthalimide market over the forecast period. Moreover the growth in the chemical industry and agricultural sector are also projected to increase the phthalimide market. Increasing industrial activities due to the increase in demand of industrial chemicals such as Amino acids, primary amines among others is expected to increase the phthalimide market as it is used as an intermediate for various industrial processes.
Phthalimide is used in formulation of pharmaceutical medicines, healthcare products, owning to which the manufacturers of these types of products must undergo a stringent approval before selling them into the market. Stern government laws and regulations, and interference in the authorization process is a primary challenge in the market.
Phthalimide market is expected to propel with advancements of medical technologies, photodynamic treatment uses phthalimide- methionine dyad-based fluorescence probes for cancer treatment.
Phthalimide Market: Segmentation
The global phthalimide market has been segmented by: Type
- Industrial Grade
- Pharmaceutical Grade
The global phthalimide market has been segmented by: Application
- Chemical Industry
- Pharmaceutical Industry
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Phthalimide Market: Regional Outlook
Across the globe North America and Europe have a significant hold over the pharmaceutical market, which in turn will increase the phthalimide market in countries such as U.S., Canada, Germany and others. Asia-Pacific countries such as India, China have government initiatives which focuses on pharmaceutical products and insurance, factors such as the aging population and impending expiry of patented drugs is expected to increase in the phthalimide market. Countries such as China have a significant share in the global chemical market and hence is expected to witness an increase in the phthalimide market. Chinese Phthalimide industry covering all important parameters. The emerging economies such as Brazil, India have witnessed an increase in the production of pharmaceutical products in the market, due to the increase in the per capita spending and the increasing aging population in such countries have led to increase in the phthalimide market. China and India have a growing chemical industrial progress, China has a prominent presence in the chemical market. Multiple European countries such as Belgium, France among others have trades with the Asia-Pacific countries, this in turn will increase the phthalimide market in the regions.
Europe over the years have established a strong foothold of chemical industries, increasing chemical activities in the region will in turn lead to increase in the phthalimide market over the forecast period.
Latin America will witness a stagnant growth in the phthalimide market as
Phthalimide Market: Key Players
Examples of some of the key participants in the global phthalimide market are:
Lanxess, Triveni Chemicals, Brahma Scientific, Neuchatel Chemie Specialities, SLN Pharmachem, Ishita Industries among others.
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