Global Organometallics Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Organotins, Organolithiums, Organoaluminiums, Organozinc, Others), By End-Use Industry (Agriculture, Electronics, Automotive, Pharmaceuticals, Others) And By Geography - Forecasts From 2021 To 2026

The global Organometallics market is expected to grow at a compound annual growth rate of 3.92% over the forecast period to reach a market size of US$12,032.341 million in 2026 from US$9,193.834 million in 2019. 

Organometallic compounds are known for their role as catalysts in enhancing the rate of industrial and research chemical reactions. The market is expected to surge in the coming years, due to the rising use of organometallic compounds in various types of applications and sectors, such as food & beverage, pharmaceutical, agriculture, automotive, and others. The increasing investment intending in the development of novel and advanced organometallic compounds is also expected to play a major role in the market growth.

Increasing demand in the automotive sector

The market is expected to surge in the coming years, due to the rising demand for compounds in the automotive sector. According to data given by the International Organisation of Motor Vehicle Manufacturers, there were around 91.7 million vehicles that were produced in the year 2019, globally. According to several studies published in official journals, auto tires that are of synthetic rubbers, which is made and formed with organometallics catalysts tend to perform and give better output. They also last longer.

Increasing demand in the agriculture sector

The market is expected to surge in the coming years, due to the rising demand for organometallic compounds in the agriculture sector. The agricultural sector has been imperative to economic growth. According to the data given by the World Bank, around 9.7 billion are expected to reside worldwide by 2050. Therefore, the demand for agricultural goods is expected to surge. The World Bank had also stated that agriculture accounted for around 4% of global GDP in 2019. Ferrocene has been finding several applications in the agriculture sector. It is known as an organometallic compound that is used as a catalyst and agrochemicals. Moreover, the compound is also used as a key and imperative surfactant in soil remediation. These developments are expected to further advance the market growth, in the coming years.

Growth in the pharmaceutical sector

The market is expected to surge in the coming years, due to the rising use of organometallic compounds in the pharmaceutical sector. According to the data given by the International Federation of Pharmaceutical Association and Manufacturers, in 2018, around 59 novel medicines were launched, and over 8,000 compounds have been at various stages of development, worldwide. In the year 2020, around 2,740 cancer drugs, 1,535 immunology drugs, and around 1,498 neurology drugs were in development 2020. Organometallic pharmaceuticals have been registering significant growth, in the past few years. The rise in the prevalence rate of cancer, and increasing bacterial and viral problems are fuelling the global demand, in the past few years. These compounds are also used to treat tissue and cells injuries and also serve as a catalyst. They are also basic, and reducing agents that serve as a catalyst. These developments are expected to enhance the market growth.

Segmentation:

• By Type
  • Organotin
  • Organolithiums
  • Organoaluminium
  • Organozinc
  • Others
•  By End-User
  • Agriculture
  • Electronics
  • Automotive
  • Pharmaceuticals
  • Others
• By geography
  • North America
    • USA
    • Canada
    • Mexico
    • Others
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • South Africa
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others