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$12,032.34 million in 2026 from US$9,193.834 million in 2019.
Organometallics are generally used in the form of catalysts to increase the speed of chemical reactions such as large-scale manufacture of carbon monoxide, acetic acid, alkali-derived polymers, acetaldehyde, and ethylene that have a numerous variety of applications. Organometallic compounds contain a carbon atom bonded with 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 a low melting point which is insoluble in water but soluble in organic compounds like ether and other solvents. These compounds are widely used as catalysts in the bulk production of several chemical compounds including acetic acid, acetaldehyde, and ethylene. Organometallic compounds of lithium and magnesium are the most versatile organic reagents. Common properties of organometallic compounds are insolubility in water, low melting point, solubility in solvents and ether, toxicity, high reactivity, and oxidizability. Organometallic reagents are often used in organic synthesis and can be employed in various applications. These include halogen-metal exchange and deprotonation. Organometallic compounds are used extensively in the following end-user industries: agrochemical, electronics, pharmaceutical, and personal care. The global organometallic compounds market is expected to expand at a rapid rate during the forecast period due to the increasing use of these compounds in end-user applications such as catalytic processes employed in the chemical industry.
An organometallic compound like metal carbonyl complexes is utilized as a 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. The rising demand for alcohols owing to the 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 that may boost the overall market growth. Industrial processes which include alkene-derived polymers such as polypropylene and polyethylene require these compounds as a catalyst which may foster organometallics market growth. Rising demand for consumer electronics products due to the rising e-commerce market is the vital factor accelerating the market growth, also rising consumption in major emerging markets, rising demand for these compounds from numerous chemical companies, and increasing demand for organometallics from organic compounds synthesis industry are the major factors among others driving the organometallics market. Moreover, the advent of new technology like IoT devices and artificial intelligence will further create new opportunities for the organometallics market in the forecast period
However, rising environmental concern and hiking demand for eco-friendly polymer substitutes like starch-based polymers due to adverse environmental effects of polymers may act as a restraint to the market growth.
global Organometallics market, US$ million, 2019 to 2026
Source: Knowledge Sourcing Intelligence Analysis
The Organometallics market is segmented based on end-user industry, type, and geography.
Impact of COVID – 19
The COVID – 19 pandemic is expected to have a positive impact on the market due to the use of organometallics in the pharmaceutical industry. Organometallic complexes are highly basic, reducing agents which catalyze by catalyzing many polymerization reactions and are clinically used to treat cell and tissue injuries (carcinomas, lymphomas, infection control, anti-inflammatory, diabetes, etc.
global Organometallics market share, by geography
Source: Knowledge Sourcing Intelligence Analysis
Prominent/major key market players in the global organometallics market include American Elements, Sigma-Aldrich, Albany Molecular Research Inc. (AMRI), Albemarle Corporation, and Merck KGaA among others. The players in the global organometallics market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global organometallics market.
Frequently Asked Questions (FAQs)
Q1. What will be the organometallics market size by 2026?
A1. The global organometallics market is expected to reach a market size of US$12,032.34 million by 2026.
Q2. What is the size of global organometallics market?
A2. Organometallics Market was valued at US$9,193.834 million in 2019.
Q3. What are the growth prospects for the organometallics market?
A3. The organometallics market is expected to grow at a CAGR of 3.92% over the forecast period.
Q4. Who are the major players in the organometallics market?
A4. Prominent key market players in the organometallics market include American Elements, Sigma-Aldrich, Albany Molecular Research Inc. (AMRI), Albemarle Corporation, and Merck KGaA among others.
Q5. What factors are anticipated to drive the organometallics market?
A5. The organometallic compounds market is expected to expand at a rapid rate during the forecast period due to the increasing use of these compounds in end-user applications such as catalytic processes employed in the chemical industry.