The global piperidine market size is expected to reach USD 101.2 million by 2030, according to a new study by Polaris Market Research. The report “Piperidine Market Share, Size, Trends, Industry Analysis Report, By Purity (98%, 99%); By End-Use (Agrochemicals, Pharmaceuticals, Rubber, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa); Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global market is expected to exhibit growth during the forecast period owing to its application in rubber, agrochemicals, pharmaceutical, and others. The utilization of piperidine has increased for the production of agrochemicals. It is used as a base and solvent in the production process of agrochemicals. Growth in population, rise in requirement for high-quality agricultural produce, and inclination of consumers toward organic food products support the market growth.
Piperidine is increasingly used to produce anti-cancer, anti-microbial, and anti-inflammatory drugs. Growth in investments in drug development and biomedical research supports market growth. A rise in instances of chronic and lifestyle diseases across the world has encouraged advanced drug development and testing, leading to a rise in demand for piperidine. In addition, technological advancements and strengthening healthcare and pharmaceutical sectors would offer growth opportunities in the coming years.
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The occurrence and spread of COVID-19 impacted the global market. The market experienced reduced demand from the agriculture and automotive sectors due to the shutting of manufacturing facilities, disturbed supply chains, and low availability of raw materials. The market also suffered from operational restrictions and transportation limitations due to lockdown impositions. However, there was a rise in demand for piperidine experienced by the healthcare and pharmaceutical sectors for producing several drugs during the pandemic.
Asia Pacific contributed significant revenue in the global market in 2021. Growth in population, rising industrialization, and greater demand for piperidine from the pharmaceutical sector boost the market growth. The established automotive industry, prominent players in this region, and the greater adoption of electric vehicles have increased the application of piperidine in rubber manufacturing.
Piperidine Market Report Highlights
Polaris Market Research has segmented the piperidine market report based on purity, end-use industry, and region:
Piperidine, Purity Outlook (Revenue - USD Million, 2018 - 2030)
Piperidine, End-Use Outlook (Revenue - USD Million, 2018 - 2030)
Piperidine, Regional Outlook (Revenue - USD Million, 2018 - 2030)