Home > Polymers, Specialty Chemicals & Advanced Materials > Organometallics Market
Organometallics Market size is expected to register considerable gains through 2023 and 2032, fueled by their extensive usage across a plethora of global industry verticals. These compounds contain at least one metal-to-carbon bond and are largely used as catalysts in chemical reactions for industrial processes such as polymerization, and the production of essential chemicals.
Being involved in the manufacture of such products, the market is expected to foresee steady development in the coming years. These compounds also find numerous applications in pharmaceutical development and semiconductor manufacturing, which have come out to be in high demand in recent years, further bolstering revenues for the market.
The organometallics market size from organolithium segment is projected to grow at a substantial rate over the forecast period, owing to the rising expansion for the compound. Among its various applications, the organolithium is used in the production of numerous polymers, including rubber, glass, plastic, and concrete, which are used in almost all day-to-day essentials. Many industry players are also undertaking steps to proliferate segment outlook. For instance, in January 2023, Chevron Philips Chemical began construction of a $6 billion integrated polymers complex in Qatar, in agreement with QatarEnergy.
In terms of end-user, the semiconductor segment is anticipated to hold a considerable share of the industry, fueled by a strong product value from the global electronics industry. Organometallics such as trimethylindium, trimethylantimony, trimethylgallium, and trimethylaluminium are widely used for the fabrication semiconductors. With the growing penetration of smartphones and other consumer electronics across the globe, demand for semiconductors is slated to increase in the coming years. Many chipmakers, including TSMC, Samsung, and Intel, have recently announced plans to set up new fabrication plants in countries such as the US, to effectively address the ongoing semiconductor shortage, further outlining the industry scenario.
Regionally, the North America organometallics market size is likely to witness substantial progress by 2032, driven by the presence of major pharmaceutical, automobile, and semiconductor firms in the region. Home to global entities such as Johnson & Johnson, Pfizer, Intel, AbbVie, Nvidia, Micron, and Qualcomm among others, the region holds bountiful opportunities for the sector. With COVID-19 and its variants still running rampant and affecting millions worldwide, the pharmaceutical industry is continuously ramping up the production of vaccines and related medicinal products. Meanwhile, the semiconductor shortage triggered by the pandemic-fueled supply chain disruptions, has led to several chipmakers increasing their capacities by building new manufacturing plants.
The market comprises several major organometallics market players, such as Tulip Chemicals, Albemarle Corporation, Reaxis, Univar USA, Coastal Chemical Company, and Bide Pharmatech.