Newark, NJ, Jan. 30, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global organic chemicals market is expected to grow from USD 8.63 Billion in 2017 to USD 15.97 Billion by 2025 at a CAGR of 7.49% during the forecast period 2018-2025. Increasing the global population, surging urbanization, rapid developments, increasing disposable income levels in the emerging economies and increasing R&D investments are the factors driving the organic chemicals market.
Organic chemicals are chemical compounds that contain carbon in their molecular structure. Due to carbon’s property of catenation, millions of compounds are formed. These chemicals can be either natural or synthetic. It is extensively used in various industries such as medical, biochemical, pharmaceutical, agrochemicals, plastics & polymers, and food & beverages. According to World Bank Data, the consumption of food and beverages is increasing rapidly across the world due to the low-income people number is more in emerging economies such as China and India. This has increased the use of organic chemicals to produce more food products and thus has increased the market globally. Some of the carbon-containing compounds which are not counted in organic compounds are:- cyanides, carbides, and carbonates.
Increase in global population, urbanization and increasing disposable income developing countries are the key driving factors for the organic chemicals market. In addition, increasing R&D investments will lead the growth of organic chemicals market in couple of years. The stringent regulations and growing awareness regarding the harmful health & environmental effects and weak economic scenario may limit the growth of market. However, robust growth in various industries is expected to boost the organic chemicals market over the forecast period.
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Key players operating in the global Organic Chemicals market include BASF SE, AkzoNobel, Reliance Industries, Mangalore Petrochemicals, TCI America, PPG Industries, Royal Dutch Shell Plc, Dow Chemicals, LG Chem, Mitsubishi Chemical, and SABIC among others. The BASF SE, AkzoNobel, Reliance Industries, Mangalore Petrochemicals, and TCI America are the top leading players of the market.
- Extensive product portfolio and expansion strategies by major players are contributing for the growth of the sector. For instance, in 2018, CPS Performance Materials acquired Far Chemical, a developer and producer of specialty organic chemicals, from Edgewater Capital Partners.
- Major players are continuously focused on new product developments and venture capital investments to obtain market share. For instance, In December 2015, DuPont (DD) and Dow Chemical Co. (DOW) announced mega merger. This has brought more productive R & D and expanded the product portfolio, this has made the organization a key player in organic chemicals market.
Natural type segment valued around USD 4.85 billion in 2017
Chemical type segment covers natural type and synthetic type. Natural type segment valued around USD 4.85 billion in 2017. Here, contributing factors are natural nature of chemical are less harmful to environment and can also be used to grow food organically. These chemicals exist in nature without human intervention and are legally allowed to use in various industries.
Aliphatics segment held highest market share of 37.89% in 2017
Product segment includes aliphatics, aromatics, carbonyls, and other. Aliphatic products contains carbon and hydrogen joined together. Aliphatics include both alkanes and alkenes. These aliphatic compounds are frequently used as fuels such as methane, acetylene, and liquefied natural gas (LNG).
Catalysts segment held highest market share of 45.13% in 2017
Process additives is segmented into catalysts, chain terminators, and others. Catalysts is process used to increase the reaction rate of chemicals without getting consumed in the process. Catalysts are used to make polymerisation at warmer temperatures and pressure. It increases the speed of reaction by reducing the activation energy
Corrosion inhibitors segment is expected to hold highest market share of 53.11% over the forecast period
Ingredients segment is categorized into corrosion inhibitors and adsorbent. Corrosion inhibitors segment is expected to hold highest market share of 53.11% over the forecast period. Corrosion inhibitors are used in formation of a coating on metals that prevents access of corrosive substance to the metal surfaces.
Pharmaceuticals segment is anticipated to grow with highest CAGR 9.04% during the forecast period
Application segment is divided into pharmaceuticals, pesticides, agrochemicals, plastics & polymers, cosmetics, food & beverages, and others. Pharmaceuticals segment is anticipated to grow with highest CAGR 9.04% during the forecast period due to increasing use of organic chemicals in drug producing and high investments in R&D for development of effective drugs.
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Regional Segment Analysis of the Organic Chemicals Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America region dominated the organic chemicals market with USD 3.61 billion in 2017 where as the Asia Pacific region held the second dominant position in the market. North America is fastest growing region due to the increasing adoption of organic chemicals, government rules for using natural chemicals, and large-scale consumption across various industries, and continuous development in R&D are creating opportunity for the growth of the market. Asia Pacific region is dominating market and holds the second largest share in organic chemicals market due to strong economic growth in India and China, rapid industrialization & urbanization, and government infrastructure & manufacturing initiatives.
About the report:
The global organic chemicals market is analysed on the basis of value (USD Billion), volume (M Tons), consumption (M Tons), imports (M Tons) and exports (M Tons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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