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The Neopentylamine Market size is projected to grow at a CAGR of 5.1% during the forecast period (2022-2027) and reach US$2.1 billion by 2027. The growth of the neopentylamine market is
primarily driven by the growth of the pharmaceutical sector. Neopentylamine (also known as 1-amino-2,
2-dimethylpropane or 2,2-dimethylpropylamine) is a primary amine derivative of
neopentane that is mainly used as a pharmaceutical intermediate or active
pharmaceutical ingredients utilized during the production of pharmaceutical
drugs and medicines. The anti-inflammatory properties of neopentylamine make
it ideal for use in such pharmaceutical applications. The surging
developments associated with the pharmaceutical sector across the world have led
to considerable growth in the Neopentylamine market.
Neopentylamine
Market: The Pharmaceutical Segment Leads the Market
On the basis of the end-use industry, the Neopentylamine
Market can be segmented into pharmaceutical and chemical industries. The pharmaceutical
sector is evaluated to be the leading segment in the neopentylamine market in
2021. During the forecast period 2021-2027, the pharmaceutical segment is
expected to grow at a CAGR of 5.6%. This can be attributed to various reasons
such as the increasing pharmaceutical production across the world. Recent insights from Atradius state that global pharmaceutical
production increased significantly by 13.6% in 2021 as compared to 2020. It
further states that the United States accounted for 22% of the total global
pharmaceutical production in 2021.
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Neopentylamine
Market: Asia-Pacific Holds the Largest Share
On the basis of geography, the Neopentylamine
Market can be segmented into North America, South America, Europe, APAC and
EMEA. According to IndustryARC’s analysis, Asia-Pacific has emerged as the most
dominant region in the market. In 2021, the Asia-Pacific region held around 35%
share of the total revenue earned by the market, globally. Asia-Pacific countries
including China and India are comparatively ahead in terms of the growth of the
pharmaceutical sector. According to Oxford Economics, the
pharmaceutical sector in China witnessed a YoY growth of 28% in 2021 as
compared to 2020. Moreover, according to the India Brand Equity Foundation
(IBEF), the domestic pharmaceutical sector in India was valued at US$42 billion
in 2021 and it is projected to increase up to US$65 billion by 2024 and US$30
billion by 2030.
The Neopentylamine Market would also witness significant
growth in the North American region. The U.S. and Canada are emerging as competitive
countries in the neopentylamine market. According
to the European Federation of Pharmaceutical Industries and Associations
(EFPIA), the USA and Canada accounted for 49.1% of the total pharmaceutical market
in 2021.
Neopentylamine
Market: Competitive Landscape
Key companies holding major shares in the Neopentylamine Market are TCI Chemicals, Alfa Chemistry, 3B Scientific Corporation, Apollo Scientific, City Chemicals, VWR International, ChongQing Purel Bio-Pharmaceutical Technology, J & K Scientific, Beijing Ouhe Technology and Shanghai Longsheng Chemical.