Organic Chemicals

Organic Chemicals Market - Industry Trends,
Outlook, Regulatory Bodies & Regulations and Key
Market Players
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. Asia Pacific is growth engine of this market, mainly
attributed to the strong economic growth in India and China. Ethyl alcohols, synthetic
organic alcohols, synthetic flavors, and pesticides are among the most widely used
organic compound used in various end-use industries such as pharmaceuticals, food
& beverages, and fertilizers. As per The World Bank data, the consumption of food
and beverages is increasing significantly across the globe. The market for food and
beverages in the lower low income people is around US$ 5 trillion in emerging
economies, which is expected to boost the food and beverages industry in countries
such as China and India during the forecasted period.
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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.
Organic chemicals Market Challenges – Stringent Environmental Regulations
Rising awareness regarding harmful health & environmental effects associated with
manufacturing and use of organic compounds is expected to be one of the key
challenges for the end user industry. For instance, on December 23, 2010, the
Ministry of Environment and Forest (MoEF) of India implemented water (prevention
and pollution control) act 1974 and air pollution act 1981. The law enforces strict
regulation for production, use, import, and export of various hazardous chemicals
such as phthalates, benzothiazole, among others. Treatment of hazardous waste
chemicals prior to releasing in the environment, the organic chemical manufacturing
company has to go through a series of complex processes. Moreover, the Chinese
Ministry of Environmental Protection implemented penalty on manufacturer to lower
the environmental pollution level, which led to shut down of many end user
Organic Chemicals Market – Regulatory Scenario:
● Registration, Evaluation and Authorization and Restriction of Chemicals
(REACH) and Classification, Labelling and Packaging (CPL) regulations
● Regulations regarding fertilizer production
● Regulations regarding detergents production
● Regulation regarding explosive production
● Regulation regarding drug precursors production
● Resource Conservation and Recovery Act (RCRA)
● Chemical Waste Disposal Law Govern by U.S. Environmental Protection
Key players in the organic chemicals market include TCI America, BASF SE, PPG
Industries, The Dow Chemicals Company, AkzoNobel, Royal Dutch Shell, Sinopec,
ExxonMobil, Formosa Plastics, LyondellBasell Industries, DuPont, Ineos, Huntsmann
and Reliance Industries. The market is fragmented, with some of the key companies
in North America and Asia Pacific. Moreover, continuous development in R&D and
M&A among the key players is expected to enhance their market opportunity.
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Organic Chemicals Market - Industry Trends, Outlook, Regulatory Bodies & Regulations and Key Market Players