Global Organometallic Market Dominated by Asia Pacific Region
Organometallics are the compounds that contain the metal-carbon bond, R-M. These compounds provide a source of nucleophilic carbon atoms, which react with electrophilic carbon to form a carbon-carbon bond. These are widely used in research and industrial chemical reactions, as well as to increase the rate of reactions. Organometallics have a wide range of applications ranging from medicine to agriculture. For example, it is used as an anticancer drug in the form of medicine, whereby it initiates cytotoxic activity towards the cancer cell and thus control metastases. In agriculture, it used in herbicides and fungicides for crop protection. It is also used in the electronics and automotive sectors.
Drivers and restraints of Global Organometallic Market
Rising applications of organometallic compounds such as stoichiometric and catalytic processes across different end-use industries are driving the global organometallic market growth. An increase in chemical manufacturing is significantly boosting the demand for organometallics as they accelerate the speed of chemical reactions, thus making the chemical synthesis more efficient. Furthermore, the rising awareness about clean and renewable energy is also growing the global organometallic market due to its application in metal-organic chemical vapor deposition and other thin-film applications. However, the availability of substitutes and the fluctuating prices of raw materials is a constraint for the growth of the market.
According to market research of Knowledge Sourcing Intelligence, the organometallics market has been segmented based on type, end-user, and geography. By type, the market has been segmented into organotins, organolithiums, organoaluminium, organozinc, and others. By end-users, the market has been segmented into agriculture, electronics, automotive, pharmaceuticals, and others. Agriculture market segmentation is expected to have a significant market share owing to its use in herbicides and fungicides for crop protection. The pharmaceutical segment is expected to grow at a rapid pace on account of increasing cancer patients along with its use in the treatment of cancer.
By geography, the market has been segmented as North America, South America, Europe, Middle East and Africa, and The Asia Pacific. The Asia Pacific region is expected to have a significant market share of the global organometallic market share and is also expected to witness considerable market growth. The market growth is projected owing to growing end-use industries including textile, automotive, and agriculture. It is also growing due to the presence of a large number of organometallic catalysts manufacturers due to the presence of cheap labor and inexpensive land.
The global organometallic market is fragmented with hundreds of manufacturers. The players are expanding globally to mirror their customers’ requirements. As a result, they are increasingly integrating with other players. The key players include American Elements, Lanxess, Albany Molecular Research Inc. (AMRI), Albemarle Corporation, and Merck KGaA among others.
Key Questions Answered in This Report:
· What are the key regions having a significant market share of the market?
· What are the drivers and restraints of the market?
· Who are the key market players in the market?
· What is market segmentation of the global organometallic market?
· Who are the end-users of the global organometallic market?