Posted By Coherent Market Insights
Posted on October 8, 2021
Organic Chemicals Market Size Was Valued At Usd 1.37 Billion In 2020 And Is Estimated To Grow At (Cagr) Of 10.2%
Carbon and its various derivatives combine with elements such as hydrogen, oxygen, nitrogen, and sulfur, to form organic chemicals. The derivatives exist either in carbon chain or carbon ring. Increasing global population and surging urbanization are expected to fuel growth of end-use industries such as agrochemicals, pharmaceuticals, food & beverages, and cosmetics in turn fueling growth of the organic chemicals market.
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Key Developments
- Key players in the market are adopting various business strategies such as business expansion, in order to expand their product portfolio and gain competitive edge in the market. For instance, in January 2018, AkzoNobel, a manufacturer of performance coatings, expanded its production capacity and upgraded its organic peroxides facility in Los Reyes, Mexico.
- Major companies in the market are involved in various business strategies such as merger and acquisition, in order to enhance their market presence. For instance, in August 2019, Indorama Ventures, a Thailand-based petrochemical company, acquired Huntsman Corporation’s chemical intermediates business for US$ 2.1 billion.
Organic Chemicals Market Outlook – Surge in Pharmaceuticals Industries Augmenting Market Growth
The last decade has witnessed a spike in incidence rate of various diseases. This in turn has led to increasing spending by various government and non-governmental organizations on developing effective drugs to combat such diseases, subsequently propelling growth of the pharmaceuticals industry. This trend is expected to prevail over the forecast period, consequently fueling growth of the organic chemicals market. Global giants in pharmaceuticals space, such as Pfizer spent US$ 7872 million in 2016, which increased by 2% as compared to 2015 and Novartis spent US$ 8400 million in 2016, which have significantly increased investment in R&D for effective drug development. While North America currently accounts for the largest share in the global organic chemicals industry, owing to a robust production base, emerging economies of Asia Pacific are projected to witness fastest growth in the market over the following decade. This is mainly attributed to rapid industrialization and benefits of economies of scale in countries such as China, Japan, and India.
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Frequently Asked Questions:
1. What is the Compound Annual growth of this market?
2. What are key factor of the This Market ?
3. What are some of the opportunities in various segments?
4. Which regions might see the demand maturing in specific segments in near future?
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]
The post Organic Chemicals Market Size Was Valued At Usd 1.37 Billion In 2020 And Is Estimated To Grow At (Cagr) Of 10.2% | TCI America, BASF SE, PPG Industries appeared first on Gatorledger.
Organic Chemicals Market Size Was Valued At Usd 1.37 Billion In 2020 And Is Estimated To Grow At (Cagr) Of 10.2%
Carbon and its various derivatives combine with elements such as hydrogen, oxygen, nitrogen, and sulfur, to form organic chemicals. The derivatives exist either in carbon chain or carbon ring. Increasing global population and surging urbanization are expected to fuel growth of end-use industries such as agrochemicals, pharmaceuticals, food & beverages, and cosmetics in turn fueling growth of the organic chemicals market.
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/263
Key Developments
- Key players in the market are adopting various business strategies such as business expansion, in order to expand their product portfolio and gain competitive edge in the market. For instance, in January 2018, AkzoNobel, a manufacturer of performance coatings, expanded its production capacity and upgraded its organic peroxides facility in Los Reyes, Mexico.
- Major companies in the market are involved in various business strategies such as merger and acquisition, in order to enhance their market presence. For instance, in August 2019, Indorama Ventures, a Thailand-based petrochemical company, acquired Huntsman Corporation’s chemical intermediates business for US$ 2.1 billion.
Organic Chemicals Market Outlook – Surge in Pharmaceuticals Industries Augmenting Market Growth
The last decade has witnessed a spike in incidence rate of various diseases. This in turn has led to increasing spending by various government and non-governmental organizations on developing effective drugs to combat such diseases, subsequently propelling growth of the pharmaceuticals industry. This trend is expected to prevail over the forecast period, consequently fueling growth of the organic chemicals market. Global giants in pharmaceuticals space, such as Pfizer spent US$ 7872 million in 2016, which increased by 2% as compared to 2015 and Novartis spent US$ 8400 million in 2016, which have significantly increased investment in R&D for effective drug development. While North America currently accounts for the largest share in the global organic chemicals industry, owing to a robust production base, emerging economies of Asia Pacific are projected to witness fastest growth in the market over the following decade. This is mainly attributed to rapid industrialization and benefits of economies of scale in countries such as China, Japan, and India.
Hurry Up…and Get a 2000$ Discount On a Price…!!! https://www.coherentmarketinsights.com/insight/request-discount/263
Frequently Asked Questions:
1. What is the Compound Annual growth of this market?
2. What are key factor of the This Market ?
3. What are some of the opportunities in various segments?
4. Which regions might see the demand maturing in specific segments in near future?
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]
The post Organic Chemicals Market Size Was Valued At Usd 1.37 Billion In 2020 And Is Estimated To Grow At (Cagr) Of 10.2% | TCI America, BASF SE, PPG Industries appeared first on Gatorledger.
