Current situation and development trend of pharmaceutical intermediate industry

Current situation and development trend of pharmaceutical intermediate industry

Development of fine chemical industry
Fine chemical industry includes fine chemicals and special chemicals. Fine chemical products have the characteristics of small production, relatively specific application fields and long and complex industrial chain. They are mainly used in medicine, pesticide, dye, liquid crystal and other fields. After nearly a decade of growth, China's fine chemical industry has made considerable progress. At present, China's overall fine rate (i.e. fine chemical output rate = total value of fine chemical products / total value of chemical products * 100%) is about 40%. Some fine chemical products have certain international competitiveness and become important processing and export places of fine chemical raw materials and intermediates in the world. However, compared with the refinement rate of 60-70% in developed economies such as North America, Western Europe and Japan, China is still only equivalent to the level of the United States in the 1980s. There is still much room for the improvement of China's refinement rate, and the industry can expect high growth.

With the continuous advancement of economic globalization, the division of labor and cooperation around the world is becoming more and more obvious. Due to the long and complex industrial chain, the fine chemical industry has the foundation of global division of labor and cooperation. In order to seize the highest point of profits, international industry giants have adjusted their development strategies, focused their energy on both ends of the smile curve - R & D and terminal products, and transferred the production links such as intermediates and APIs outward. In this way, the global division of labor model has been formed. China, India and other developing countries have a good foundation to undertake global industrial transfer due to their comparative advantages. With the continuous improvement of China's fine chemical technology level, the product types and market share of China undertaking industrial transfer are gradually increasing. In the process of fine chemical industry transfer, intermediates are a very important category of varieties, and they are also the main link for China to undertake the transfer. In recent years, the intermediate enterprises gradually listed in the capital market are relatively concentrated. Most of the raised investment projects are to break through the capacity bottleneck to meet the growing demand, and the whole industry shows a vigorous and upward development momentum. The accelerating process of industrial transfer provides a huge market space for the fine chemical intermediate industry.