Fior Markets launched a study titled “Global Organic Chemicals Market by Chemical Type, Product (Aliphatics, Aromatics, Carbonyls, Other), Process Additives, Ingredients, Application (Pharmaceuticals, Pesticides, Agrochemicals, Plastics & Polymers, Cosmetics, Food & Beverages, Others),Region” and Global Forecast 2018-2025.
The global organic chemicals market is expected to grow from USD 8.63 billion in 2017 to USD 15.97 billion by 2025 at a CAGR of 7.49% during the forecast period from 2018-2025. Increasing global population and surging urbanization, rapid developments, increasing disposable income levels in the emerging economies, and increasing R&D investments are the major trends for the demand of the market.
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Natural type segment valued around USD 4.85 billion in 2017
Chemical type segment covers natural type and synthetic type. Natural type segment valued around USD 4.85 billion in 2017. Here, contributing factors are natural nature of chemical are less harmful to environment and can also be used to grow food organically. These chemicals exist in nature without human intervention and are legally allowed to use in various industries.
Corrosion inhibitors segment is expected to hold highest market share of 53.11% over the forecast period
Ingredients segment is categorized into corrosion inhibitors and adsorbent. Corrosion inhibitors segment is expected to hold highest market share of 53.11% over the forecast period. Corrosion inhibitors are used in formation of a coating on metals that prevents access of corrosive substance to the metal surfaces.
Pharmaceuticals segment is anticipated to grow with highest CAGR 9.04% during the forecast period
Application segment is divided into pharmaceuticals, pesticides, agrochemicals, plastics & polymers, cosmetics, food & beverages, and others. Pharmaceuticals segment is anticipated to grow with highest CAGR 9.04% during the forecast period due to increasing use of organic chemicals in drug producing and high investments in R&D for development of effective drugs
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America held the largest market share of approximately41.81%in 2017.North America is fastest growing region due to the increasing adoption of organic chemicals, government rules for using natural chemicals, and large-scale consumption across various industries, and continuous development in R&D are creating opportunity for the growth of the market.
The major players ofmarketinclude BASF SE, AkzoNobel, Reliance Industries, Mangalore Petrochemicals, TCI America, PPG Industries, Royal Dutch Shell Plc, Dow Chemicals, LG Chem, Mitsubishi Chemical, SABIC, and others. For instance, in 2018, CPS Performance Materials acquired Far Chemical, a developer and producer of specialty organic chemicals, from Edgewater Capital Partners.
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