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Pharmaceutical Excipient Market Outlook for 2024 to 2034

FMI’s comprehensive reports on the pharmaceutical sector now see the addition of an updated study on the pharmaceutical excipient market. According to updated research, the market is set to hold a valuation of US$ 972.9 million in 2024. Thereafter, the market’s progress over the coming decade is suggested to be solid, with a CAGR of 5.1%. As such, the market’s value by 2034 is marked to jump to US$ 1,600.0 million.

Consumption Analysis of the Pharmaceutical Excipient Market

  • Governments putting more focus on expanding the reach of the healthcare sector, reaching far and wide into remote and rural areas, is beneficial for the market. As pharmaceutical sales rise, the dependence on excipients increases and vendors benefit.
  • While the traditional function of excipients is akin to playing a supporting role, modern applications are seeing them play more of an important role. Whether through modifying the taste or enhancing the effect of the main ingredient, excipients are now in the limelight.
  • Emulsifiers, binders, gelling agents, and other such ingredients that play a perhaps unsung role in formulations are receiving increased attention. A key purpose of excipients is to hold the medicine together, and thus, the product is riding the wave of popularity of such ingredients.
  • Studies have shown that colors play a part in patients' perception of medicines. As manufacturers become more aware of the effect of color on patients, they resort to excipients to influence patient perception.
  • Innovations in nanotechnology are enhancing the functionality of excipients and lending them more importance in the pharmaceutical sector.
Attributes Details
Market Value for 2024 US$ 972.9 million
Market Value for 2034 US$ 1,600.0 million
Value-based CAGR of Market for 2024 to 2034 5.1%

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Trends in the Pharmaceutical Excipient Market

  • To overcome the traditional bitterness of medicines, excipients are being used to mask the taste. Thus, pharmaceutical excipients are especially seeing more applications in children’s medicine.
  • Development of new drugs with the help of biologics is bolstering the market.
  • Faster approvals and increased funding for orphan drugs are proving to be beneficial to the demand for excipients in the pharmaceutical industry.
  • With increasing research regarding cancer and treatments, including cell therapy, there is greater demand for these excipients.
  • Constant development of novel excipients keeps the demand for the product fresh and enhances the reputation of the market.

Challenges in the Pharmaceutical Excipient Market

  • Regulatory challenges and waiting for approval are two of the challenges that cut into the demand for the product. This problem is especially faced regarding novel excipients.
  • While excipients playing a more active role in medicines is considered a plus for the market, there is also a downside. Patient hesitation about the potential negative impact of excipients is a hurdle in the path of the market.
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Comparative View of Adjacent Markets

Apart from the pharmaceutical excipient market, analysis has been done on two other related markets. The markets by name are the nutraceutical excipient market and the sugar-based excipient market.

Increased awareness about nutraceuticals is lending more importance to nutraceutical excipients. The role of excipients in adding flavor to products is to ensure that the demand for sugar-based excipients continues to rise.

Pharmaceutical Excipient Market:

Attributes Pharmaceutical Excipient Market
Value-based CAGR (2024 to 2034) 5.1%
Projected Market Value (2034) US$ 1,600.0 million
Market Trends
  • Use of excipients to mask the bitter taste of medicines
  • Novel excipients are given added importance in the healthcare sector
Restraint Regulatory challenges
Growth Factors
  • Expansion of the pharmaceutical industry
  • Excipients’ functionality is increasing

Nutraceutical Excipient Market:

Attributes Nutraceutical Excipient Market
Value-based CAGR (2024 to 2034) 6.4%
Projected Market Value (2034) US$ 4,958.7 million
Market Trend Improvement in production processes like spray drying and freeze drying
Restraint Lack of awareness about nutraceuticals extending to excipients
Growth Factor Rise in the geriatric population

Sugar-based Excipient Market:

Attributes Sugar-based Excipient Market
Value-based CAGR (2024 to 2034) 4.8%
Market Trend Consumer affinity for low-dose products
Restraint Facilities for production struggling to get approved by authorities
Growth Factors Advancements in orally disintegrating tablets (ODTS)

Category-wise Outlook

Artificial excipients maintain the top position in the pharmaceutical excipient industry. Coating is the technique generally used in the formulation of medicines using excipients.

Low-cost Nature of Artificial Excipients Makes them Desired among End Users

For 2024, artificial excipients are expected to account for 34.7% of the market share by type. Some of the key drivers for the developing demand for artificial excipients are:

  • Even though natural ingredients are receiving the nod of approval in increased measures from patients, the sourcing and development of natural excipients are not cheap. Thus, manufacturers in the pharmaceutical industry prefer using artificial versions of the product.
  • Artificial excipients can be more easily modulated to achieve the correct color, dosage, etc. in medicines and thus continue to receive the vote of confidence from manufacturers.
Attributes Details
Top Type Artificial
Market Share (2024) 34.7%

Coating Technique is Widely Used for Excipients to become a Part of Pharmaceuticals

Coating is anticipated to account for 33.0% of the market share in 2024. Some of the key drivers for the dominance of coating of excipients in pharmaceutical formulations include:

  • Safety provided by coating tablets from moisture in the air is cherished by both manufacturers and patients.
  • Presence of cellulose ether hydroxypropyl methylcellulose (HPMC), which is free of sugars and allergens, is a plus point in the use of coating in medicine formulation.
Attributes Details
Top Technique Coating
Market Share (2024) 33.0%

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Country-wise Analysis

The immense popularity of biologics and new research in the pharmaceutical field are two of the reasons the market is expanding in Europe. The influence of pharmaceutical giants is also felt in the European market.

Focus on research and development is lending positivity to the market in the Asia Pacific. Focus on novel excipients is encouraging for market growth in North America.

Countries CAGR from 2024 to 2034
United States 5.3%
Germany 5.4%
China 5.6%
Japan 5.3%
Italy 5.2%

Popularity of Functional Excipients Key to Growth of the Market in the United States

The market is set to register a CAGR of 5.3% in the United States during the forecast period. Key drivers for growth are:

  • Functional excipients are performing a key role in the United States when it comes to medicine. With excipients no longer relegated to being the sideshow, the market is in for sturdy growth over the forecast period in the country.
  • Launch of novel excipients at a fast rate keeps the market moving in an upward direction in the United States.

Government Encouragement for Pharmaceutical Sector’s Development is Shaping Germany’s Market Growth

The CAGR for the market in Germany is tipped to be 5.4% over the forecast period. Some of the key factors driving the growth are:

  • Germany’s government is encouraging the fast development of its pharmaceutical sector by seeking to curb frivolous regularity requirements and making the introduction of new excipients a more favorable process.
  • Both local and foreign medical entities are expanding production facilities in Germany, creating a conducive environment in the country for the market.

China’s Mammoth Production Facilities Facilitate Domestic and International Distribution

The CAGR for the market in China is tipped to be 5.6% over the forecast period. Some of the key factors driving the growth are:

  • China’s considerable facilities in medicine manufacturing see demand for Chinese excipients increase not only in the country itself but also internationally.
  • Possessing a gigantic healthcare industry, top 5 in the world in terms of size, there is thus ever-increasing scope for the market.

Fast Approval Processes of Regulatory Bodies Help Market Growth in Japan

The market is expected to register a CAGR of 5.3% in Japan for the forecast period. Some of the key trends include:

  • Japan’s regulatory bodies are giving approvals to medicines as well as excipients at an increasing rate, thus creating potential for foreign players in the market.
  • Increased foreign investment in local raw materials for pharmaceutical companies is bolstering the market in Japan.

Italy being at the Forefront of Technology aids in Market Growth in the Country

The market is expected to register a CAGR of 5.2% in Italy over the forecast period. Some of the key trends include:

  • Italy is renowned for being at the forefront of technology when it comes to the pharmaceutical sector, and thus, novel excipients are finding an easy route towards progress in the country.
  • Strict regulations, while encouraging cautiousness on the part of manufacturers, also see greater trust being built among end users for excipients in Italy.

Competitive Landscape in the Pharmaceutical Excipient Market

The pharmaceutical excipient industry is highly competitive, with newer entrants looking to distinguish themselves with novel products. On the other hand, established players are looking to expand production facilities to meet production targets.

One of the prominent companies in the market, Ashland Global Holdings, is looking to expand its portfolio with the help of biologics. As the company’s drug delivery focus enhances, even greater attention is being paid to excipients. Croda International, meanwhile, is looking to increase its functional excipients portfolio.

Recent Developments

  • In October 2023, India-based Clariant Chemicals announced plans to launch three new excipients as part of its VitiPure range.
  • In September 2023, United States-based Colorocon introduced its titanium dioxide (TiO2)-free Opadry film coating system for tablets to stop moisture from affecting them.
  • In November 2021, French-based Gattefossé launched three new pharmaceutical excipients, named Labrafac MC60, Gelucire 59/14, and Emulfree Duo.

Key Companies in the Pharmaceutical Excipient Market

  • Ashland Global Holdings
  • Croda International
  • BASF SE
  • Lubrizol Corporation
  • Evonik Industries AG
  • Associated British Foods
  • Roquette Feres
  • Archer Daniels Midland Company
  • DuPont
  • Avantor Performance Materials, Inc.
  • The Dow Chemical Company
  • FMC Corporation
  • Evonik Industries
  • Lubrizol Corporation
  • Roquette
  • Colorcon, Inc.

Key Coverage in the Pharmaceutical Excipient Industry Report

  • Pharmaceutical Excipient Market Size, Share, and Sales Analysis
  • Pharmaceutical Excipient Industry Trends
  • Excipients in Pharmaceuticals Global Market Report
  • Active Pharmaceutical Ingredients Market Comparative Analysis
  • Top Pharmaceutical Excipient Manufacturers

Key Segments

By Type:

  • Organic Chemicals
  • Oleochemicals
    • Fatty Alcohols
    • Mineral Stearates
    • Glycerin
    • Other Oleochemicals
  • Carbohydrates
    • Sugars
      • Actual Sugars
      • Sugar Alcohols
      • Artificial Sweeteners
    • Cellulose
      • Microcrystalline cellulose
      • Cellulose ethers
      • Carboxymethyl cellulose (CMC) and croscarmellose sodium
      • Cellulose esters
    • Starch
      • Modified Starch
      • Dried Starch
      • Converted Starch
  • Petrochemicals
    • Glycols
    • Povidones
    • Mineral Hydrocarbons
    • Acrylic Polymers
    • Other Petrochemical Excipients
  • Proteins
  • Other Organic Chemicals
  • Artificial
  • Calcium Phosphate
  • Metal Oxides
  • Halites
  • Calcium Carbonate
  • Calcium Sulphate
  • Other Artificial Chemicals
  • Other Chemicals

By Technique:

  • Fillers & Diluents
  • Suspending & Viscosity
  • Coating
  • Binders
  • Flavoring & Sweeteners
  • Disintegrants
  • Colorants
  • Lubricants & Glidants
  • Preservatives
  • Emulsifying

By Formulation:

  • Oral Formulations
  • Tablets
  • Capsules
    • Hard-gelatin Capsules
    • Soft-gelatin Capsules
  • Liquid Formulations
  • Other Oral Formulations
  • Topical Formulations
  • Parenteral Formulations
  • Other Formulations

By Application:

  • Taste Masking
  • Stabilizers
  • Modified-Release
  • Solubility & Bioavailability Enhancement
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East and Africa (MEA)

Frequently Asked Questions

How Big is the Pharmaceutical Excipient Market?

The market size is expected to be worth US$ 972.9 million in 2024.

How Big Will the Pharmaceutical Excipient Market Be by 2034?

The market is estimated to get as big as US$ 1,600.0 million by 2034.

How will the Pharmaceutical Excipient Market Progress in the United States?

The CAGR of the market in the United States is estimated to be 5.3% from 2024 to 2034.

What are the Segments of the Pharmaceutical Excipient Industry?

The market can be divided into the following segments: type, technique, formulation, and application.

What is the Scope of the Pharmaceutical Excipient Market?

The market is expected to progress at a CAGR of 5.1% from 2024 to 2034.

Who are the Top Pharmaceutical Excipient Manufacturers?

Ashland Global Holdings, Croda International, BASF SE, and Lubrizol Corporation are some of the key manufacturers in the pharmaceutical excipient industry.

Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Manufacturer

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034

    4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2019 to 2023

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2024 to 2034

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Product, 2019 to 2023

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Product, 2024 to 2034

        5.3.1. Inorganic Chemicals

        5.3.2. Organic Chemicals

    5.4. Y-o-Y Growth Trend Analysis By Product, 2019 to 2023

    5.5. Absolute $ Opportunity Analysis By Product, 2024 to 2034

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Functionality

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Functionality, 2019 to 2023

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Functionality, 2024 to 2034

        6.3.1. Fillers and Diluents

        6.3.2. Binders

        6.3.3. Suspension and Viscosity Agents

        6.3.4. Coatings

        6.3.5. Flavoring Agents

        6.3.6. Disintegrants

        6.3.7. Colorants

        6.3.8. Preservatives

        6.3.9. Others

    6.4. Y-o-Y Growth Trend Analysis By Functionality, 2019 to 2023

    6.5. Absolute $ Opportunity Analysis By Functionality, 2024 to 2034

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    7.1. Introduction

    7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2019 to 2023

    7.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2024 to 2034

        7.3.1. North America

        7.3.2. Latin America

        7.3.3. Western Europe

        7.3.4. Eastern Europe

        7.3.5. South Asia and Pacific

        7.3.6. East Asia

        7.3.7. Middle East and Africa

    7.4. Market Attractiveness Analysis By Region

8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    8.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023

    8.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034

        8.2.1. By Country

            8.2.1.1. USA

            8.2.1.2. Canada

        8.2.2. By Product

        8.2.3. By Functionality

    8.3. Market Attractiveness Analysis

        8.3.1. By Country

        8.3.2. By Product

        8.3.3. By Functionality

    8.4. Key Takeaways

9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    9.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023

    9.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034

        9.2.1. By Country

            9.2.1.1. Brazil

            9.2.1.2. Mexico

            9.2.1.3. Rest of Latin America

        9.2.2. By Product

        9.2.3. By Functionality

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Product

        9.3.3. By Functionality

    9.4. Key Takeaways

10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023

    10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034

        10.2.1. By Country

            10.2.1.1. Germany

            10.2.1.2. UK

            10.2.1.3. France

            10.2.1.4. Spain

            10.2.1.5. Italy

            10.2.1.6. Rest of Western Europe

        10.2.2. By Product

        10.2.3. By Functionality

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Product

        10.3.3. By Functionality

    10.4. Key Takeaways

11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023

    11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034

        11.2.1. By Country

            11.2.1.1. Poland

            11.2.1.2. Russia

            11.2.1.3. Czech Republic

            11.2.1.4. Romania

            11.2.1.5. Rest of Eastern Europe

        11.2.2. By Product

        11.2.3. By Functionality

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Product

        11.3.3. By Functionality

    11.4. Key Takeaways

12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023

    12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034

        12.2.1. By Country

            12.2.1.1. India

            12.2.1.2. Bangladesh

            12.2.1.3. Australia

            12.2.1.4. New Zealand

            12.2.1.5. Rest of South Asia and Pacific

        12.2.2. By Product

        12.2.3. By Functionality

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Product

        12.3.3. By Functionality

    12.4. Key Takeaways

13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023

    13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034

        13.2.1. By Country

            13.2.1.1. China

            13.2.1.2. Japan

            13.2.1.3. South Korea

        13.2.2. By Product

        13.2.3. By Functionality

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Product

        13.3.3. By Functionality

    13.4. Key Takeaways

14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country

    14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2019 to 2023

    14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2024 to 2034

        14.2.1. By Country

            14.2.1.1. GCC Countries

            14.2.1.2. South Africa

            14.2.1.3. Israel

            14.2.1.4. Rest of MEA

        14.2.2. By Product

        14.2.3. By Functionality

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Product

        14.3.3. By Functionality

    14.4. Key Takeaways

15. Key Countries Market Analysis

    15.1. USA

        15.1.1. Pricing Analysis

        15.1.2. Market Share Analysis, 2023

            15.1.2.1. By Product

            15.1.2.2. By Functionality

    15.2. Canada

        15.2.1. Pricing Analysis

        15.2.2. Market Share Analysis, 2023

            15.2.2.1. By Product

            15.2.2.2. By Functionality

    15.3. Brazil

        15.3.1. Pricing Analysis

        15.3.2. Market Share Analysis, 2023

            15.3.2.1. By Product

            15.3.2.2. By Functionality

    15.4. Mexico

        15.4.1. Pricing Analysis

        15.4.2. Market Share Analysis, 2023

            15.4.2.1. By Product

            15.4.2.2. By Functionality

    15.5. Germany

        15.5.1. Pricing Analysis

        15.5.2. Market Share Analysis, 2023

            15.5.2.1. By Product

            15.5.2.2. By Functionality

    15.6. UK

        15.6.1. Pricing Analysis

        15.6.2. Market Share Analysis, 2023

            15.6.2.1. By Product

            15.6.2.2. By Functionality

    15.7. France

        15.7.1. Pricing Analysis

        15.7.2. Market Share Analysis, 2023

            15.7.2.1. By Product

            15.7.2.2. By Functionality

    15.8. Spain

        15.8.1. Pricing Analysis

        15.8.2. Market Share Analysis, 2023

            15.8.2.1. By Product

            15.8.2.2. By Functionality

    15.9. Italy

        15.9.1. Pricing Analysis

        15.9.2. Market Share Analysis, 2023

            15.9.2.1. By Product

            15.9.2.2. By Functionality

    15.10. Poland

        15.10.1. Pricing Analysis

        15.10.2. Market Share Analysis, 2023

            15.10.2.1. By Product

            15.10.2.2. By Functionality

    15.11. Russia

        15.11.1. Pricing Analysis

        15.11.2. Market Share Analysis, 2023

            15.11.2.1. By Product

            15.11.2.2. By Functionality

    15.12. Czech Republic

        15.12.1. Pricing Analysis

        15.12.2. Market Share Analysis, 2023

            15.12.2.1. By Product

            15.12.2.2. By Functionality

    15.13. Romania

        15.13.1. Pricing Analysis

        15.13.2. Market Share Analysis, 2023

            15.13.2.1. By Product

            15.13.2.2. By Functionality

    15.14. India

        15.14.1. Pricing Analysis

        15.14.2. Market Share Analysis, 2023

            15.14.2.1. By Product

            15.14.2.2. By Functionality

    15.15. Bangladesh

        15.15.1. Pricing Analysis

        15.15.2. Market Share Analysis, 2023

            15.15.2.1. By Product

            15.15.2.2. By Functionality

    15.16. Australia

        15.16.1. Pricing Analysis

        15.16.2. Market Share Analysis, 2023

            15.16.2.1. By Product

            15.16.2.2. By Functionality

    15.17. New Zealand

        15.17.1. Pricing Analysis

        15.17.2. Market Share Analysis, 2023

            15.17.2.1. By Product

            15.17.2.2. By Functionality

    15.18. China

        15.18.1. Pricing Analysis

        15.18.2. Market Share Analysis, 2023

            15.18.2.1. By Product

            15.18.2.2. By Functionality

    15.19. Japan

        15.19.1. Pricing Analysis

        15.19.2. Market Share Analysis, 2023

            15.19.2.1. By Product

            15.19.2.2. By Functionality

    15.20. South Korea

        15.20.1. Pricing Analysis

        15.20.2. Market Share Analysis, 2023

            15.20.2.1. By Product

            15.20.2.2. By Functionality

    15.21. GCC Countries

        15.21.1. Pricing Analysis

        15.21.2. Market Share Analysis, 2023

            15.21.2.1. By Product

            15.21.2.2. By Functionality

    15.22. South Africa

        15.22.1. Pricing Analysis

        15.22.2. Market Share Analysis, 2023

            15.22.2.1. By Product

            15.22.2.2. By Functionality

    15.23. Israel

        15.23.1. Pricing Analysis

        15.23.2. Market Share Analysis, 2023

            15.23.2.1. By Product

            15.23.2.2. By Functionality

16. Market Structure Analysis

    16.1. Competition Dashboard

    16.2. Competition Benchmarking

    16.3. Market Share Analysis of Top Players

        16.3.1. By Regional

        16.3.2. By Product

        16.3.3. By Functionality

17. Competition Analysis

    17.1. Competition Deep Dive

        17.1.1. Ashland Global Holdings

            17.1.1.1. Overview

            17.1.1.2. Product Portfolio

            17.1.1.3. Profitability by Market Segments

            17.1.1.4. Sales Footprint

            17.1.1.5. Strategy Overview

                17.1.1.5.1. Marketing Strategy

                17.1.1.5.2. Product Strategy

                17.1.1.5.3. Channel Strategy

        17.1.2. Croda International

            17.1.2.1. Overview

            17.1.2.2. Product Portfolio

            17.1.2.3. Profitability by Market Segments

            17.1.2.4. Sales Footprint

            17.1.2.5. Strategy Overview

                17.1.2.5.1. Marketing Strategy

                17.1.2.5.2. Product Strategy

                17.1.2.5.3. Channel Strategy

        17.1.3. BASF SE

            17.1.3.1. Overview

            17.1.3.2. Product Portfolio

            17.1.3.3. Profitability by Market Segments

            17.1.3.4. Sales Footprint

            17.1.3.5. Strategy Overview

                17.1.3.5.1. Marketing Strategy

                17.1.3.5.2. Product Strategy

                17.1.3.5.3. Channel Strategy

        17.1.4. Lubrizol Corporation

            17.1.4.1. Overview

            17.1.4.2. Product Portfolio

            17.1.4.3. Profitability by Market Segments

            17.1.4.4. Sales Footprint

            17.1.4.5. Strategy Overview

                17.1.4.5.1. Marketing Strategy

                17.1.4.5.2. Product Strategy

                17.1.4.5.3. Channel Strategy

        17.1.5. Evonik Industries AG

            17.1.5.1. Overview

            17.1.5.2. Product Portfolio

            17.1.5.3. Profitability by Market Segments

            17.1.5.4. Sales Footprint

            17.1.5.5. Strategy Overview

                17.1.5.5.1. Marketing Strategy

                17.1.5.5.2. Product Strategy

                17.1.5.5.3. Channel Strategy

        17.1.6. Associated British Foods

            17.1.6.1. Overview

            17.1.6.2. Product Portfolio

            17.1.6.3. Profitability by Market Segments

            17.1.6.4. Sales Footprint

            17.1.6.5. Strategy Overview

                17.1.6.5.1. Marketing Strategy

                17.1.6.5.2. Product Strategy

                17.1.6.5.3. Channel Strategy

        17.1.7. Roquette Feres

            17.1.7.1. Overview

            17.1.7.2. Product Portfolio

            17.1.7.3. Profitability by Market Segments

            17.1.7.4. Sales Footprint

            17.1.7.5. Strategy Overview

                17.1.7.5.1. Marketing Strategy

                17.1.7.5.2. Product Strategy

                17.1.7.5.3. Channel Strategy

        17.1.8. Archer Daniels Midland Company

            17.1.8.1. Overview

            17.1.8.2. Product Portfolio

            17.1.8.3. Profitability by Market Segments

            17.1.8.4. Sales Footprint

            17.1.8.5. Strategy Overview

                17.1.8.5.1. Marketing Strategy

                17.1.8.5.2. Product Strategy

                17.1.8.5.3. Channel Strategy

        17.1.9. DuPont

            17.1.9.1. Overview

            17.1.9.2. Product Portfolio

            17.1.9.3. Profitability by Market Segments

            17.1.9.4. Sales Footprint

            17.1.9.5. Strategy Overview

                17.1.9.5.1. Marketing Strategy

                17.1.9.5.2. Product Strategy

                17.1.9.5.3. Channel Strategy

18. Assumptions & Acronyms Used

19. Research Methodology

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