Organic Chemicals Market By Product (Acids, Alcohols and Ethers, Amines and Amides, Aldehydes and Ketones, Others), By End Use Industry (Pharmaceuticals, Agrochemicals, Personal Care and Cosmetics, Food and Beverages, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The organic chemicals market valued for $153.2 billion in 2022 and is estimated to reach $286.0 billion by 2032, exhibiting a CAGR of 6.5% from 2023 to 2032.
Organic chemical or compound is a special category of compound that contains carbon-hydrogen bonds. Carbon shows a unique property called catenation that enables it to form numerous organic compounds with different carbon hydrogen bonds and its derivatives. These chemicals can be obtained naturally or can also be produced by artificial processes as well. Organic chemicals are classified into flavoring agents, aromatic agents, & various alcohols, and are widely used in industries such as food & beverages, pharmaceuticals, cosmetics, and fertilizers.
The rise in awareness for self-grooming activities have led the personal care sector to witness a significant increase in demand where aliphatic hydrocarbons are widely used for producing a wide range of personal care products such as baby oil, baby shampoos, hair conditions, sunscreens, creams & lotions, and others. This may act as one the key drivers responsible for the growth of the organic chemicals market for aliphatic hydrocarbons. Furthermore, increase in geriatric population in countries such as Italy, Japan, and others have fostered the demand for aliphatic hydrocarbon-based anti-ageing creams. This factor is anticipated to increase the sales of organic chemicals for personal care & cosmetics applications; thus, boosting the market growth.
Furthermore, the increase in disposable income coupled with rise in fashion consciousness has led the textile sector to witness a significant demand where ketones are widely used as solvents in textile sector. This factor may act as one of the key drivers responsible for the growth of the organic chemicals market for ketones type. Furthermore, rise in demand for a wide range of consumer goods has led to rapid industrialization in both developed and developing economies where organic aldehydes are used in manufacturing various industrial chemicals, dyes, and solvents. This may fuel the demand for aldehydes during the forecast period.
One of the greatest advantages of organic chemicals is that majority of it can be manufactured from natural sources such as plants, animals, coal, petroleum, and wood. These are easily available in almost every region across the globe. This factor has eased the availability of organic chemicals. Moreover, factor such as rise in corporate social responsibility (CSR) activities coupled with growth in awareness for using non-toxic chemicals have surged the popularity of organic chemicals among several end-use sectors. This may fuel the demand for organic chemicals during the forecast period.
However, aluminum casting involves several processes such as melting of metal, transferring the molten metal to mold cavity, and solidification of molten metal. These processes require a relatively large amount of heat energy. Furthermore, the overall process consists of different sophisticated equipment that are fabricated to work at high temperature application. These factors make aluminum casting an expensive process which in turn may restrain manufacturers with less investment potential to enter into aluminum casting market. Thus, high investment costs associated with the production of aluminum castings may hamper the market growth during the forecast period.
On the contrary, since the organic chemical industry is technology-driven, there is huge spending on R&D and this plays a crucial role in the value chain. These R&D investments regarding innovative applications as well as a reduction in production costs are expected to bring numerous opportunities for the industry players. The government initiatives with an aim to encourage the manufacturing industry in emerging economies such as India are anticipated to open new opportunities for organic chemicals market development.
The organic chemicals market is segmented on the basis of product, application, and region. On the basis of product, the market is categorized into acids, alcohols & ethers, amines & amides, aldehydes & ketones, and others. On the basis of end-use industry, it is divided into pharmaceuticals, agrochemicals, personal care & cosmetics, food & beverages, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The global organic chemicals market profiles leading players that include Akzonobel, BASF SE, Cargill, CHEMPLAST SANMAR LIMITED, Dow, Hindustan Organic Chemicals Limited, Neogen Chemicals Limited, Royal Dutch Shell plc, TCI America, Vinati organics Limited. The global organic chemicals market report provides in-depth competitive analysis as well as profiles of these major players.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the organic chemicals market analysis from 2022 to 2032 to identify the prevailing organic chemicals market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the organic chemicals market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global organic chemicals market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy ProductAcids
Type
Acetic Acid
Lactic Acid
Citric Acid
Others
Alcohols and Ethers
Amines and Amides
Aldehydes and Ketones
Others
By End Use IndustryAgrochemicals
Personal Care and Cosmetics
Food and Beverages
Others
Pharmaceuticals
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
akzonobel
BASF SE
Cargill
CHEMPLAST SANMAR LIMITED
Dow
Hindustan Organic Chemicals Limited
neogen chemicals limited
Royal Dutch Shell plc
TCI America
vinati organics limited
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