Organometallics Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4143
Organometallics Market size should witness a significant growth during the forecast time period owing to its wide usage in catalytic and stoichiometric processes. Rise in bulk and specialty chemicals owing to increasing demand from automobile, construction and pharmaceutical industries may drive the overall organometallics market growth.
Organometallic compounds contain a carbon atom bonded with a metal. These compounds are formed by reacting a metal with highly reactive hydrocarbons including alkaline, transition metals and alkaline earth. It also includes metalloids like silicon, boron and tin. These compounds have low melting point which are insoluble in water but soluble in organic compounds like ether and other solvents.
These compounds are widely used as catalyst in the bulk production of several chemical compounds including acetic acid, acetaldehydes and ethylene. Global acetic acid market size is likely to be valued at over USD 11 billion by the year 2025. Organometallic compound like metal carbonyl complexes are utilized as catalyst in Monsanto process and Cativa process for bulk production of acetic acid thereby driving the organometallics market demand.
Organometallic compounds like alkyl, aryl, or vinyl-magnesium halides also known as Grignard reagent are added to ketone or aldehyde to form alcohols. Rising demand of alcohols owing to increasing consumption of alcoholic beverages and increasing industrial application may drive the product demand.
Increasing applications of polymers in lubricants, consumer goods, packaging and textile industries is the key factor which may boost overall market growth. Global plastic and polymer market size was valued at over USD 615 billion in 2018. Industrial processes which include alkene derived polymers such as polypropylene and polyethylene requires these compounds as catalyst which may foster organometallics market growth.
Increasing demand for consumer electronics products owing to rising e-commerce market and advent of new technology like IOT devices and artificial intelligence are the key factors driving the semiconductor market. Semiconductors are fabricated from organometallic compounds such as trimethylgallium, trimethylaluminium, trimethylindium, and trimethylantimony. The global semiconductor market size is expected to be valued at over USD 50 billion by the year 2024. These compounds get decomposed along with arsine, phosphine, ammonia and related hydrides on an excited substrate via MOVPE process for manufacturing light-emitting diodes (LEDs).
Growing demand for eco-friendly polymer substitute like starch-based polymers owing to adverse environmental effects of polymers and rising environmental concern may act as a restraint to overall organometallics market growth.
North America market size driven by the U.S, Canada and Mexico may witness a significant growth by the year 2025. Increasing demand of polymers in automobile sector owing to its lightweight properties and growing consumption of passenger vehicles owing to rapid urbanization in the region is likely to boost the industry growth. In 2018, approximately 5.3 billion new cars were sold in the U.S. which may drive the regional product demand.
Europe organometallics market led by UK, Italy, Spain, France and Germany may see a substantial growth during the projected time frame. Growing inclination towards smart electronic devices and increasing digitalization in the region are the key factors driving the consumer electronics market growth. Europe consumer electronics market may surpass at over USD 90 billion by 2025. Polyethylene is used in electronic industry for wire insulation, which may drive the regional industry growth.
Asia Pacific market driven by India, China and Japan may register a substantial growth during the foreseeable timeframe. Increasing consumer electronics product demand such as laptops, smart watches, LED Tv’s and smartphones which consists of LED screens may drive the industry growth. China LED market size was valued at over USD 16.5 billion in year 2018. Furthermore, expanding middle class population in the region who are likely to spend more on consumer electronics may in turn accelerate the industry growth.
Global organometallics market size is moderately fragmented. Companies like Reaxis, HOS-Technik, Albemarle Corporation, Bide Pharmatech, Tulip Chemicals, Pfaltz & Bauer, Sigma-Aldrich, Coastal Chemical Company and Univar USA are the key market players.
By Application, 2014-2025 (Tons) (USD Million)
By End-Use, 2014-2025 (Tons) (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- HOS-Technik GmBH
- Albemarle Corporation
- Bide Pharmatech
- Tulip Chemicals
- Pfaltz & Bauer
- Coastal Chemical Company
- Univar USA inc
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