Organic Chemicals Market Projected to Reach USD 24.25 Billion by 2032 | Rising Adoption in Key Industries and Increasing Demand for Sustainable Solutions Fuel Market Growth
The organic chemicals market is witnessing robust growth due to the expanding application of organic chemicals across multiple industries, including pharmaceuticals, agriculture, and consumer goods.
Austin, Jan. 30, 2025 (GLOBE NEWSWIRE) — As per the latest research report of SNS Insider, “The Organic Chemicals Market is projected to reach a valuation of USD 24.25 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.40% from 2024 to 2032.”
Trends Shaping the Organic Chemicals Market
A primary driver of the organic chemicals market is the increasing demand for sustainable and eco-friendly solutions across industries. The shift towards environmentally conscious products and processes is driving manufacturers to innovate in the production of organic chemicals, which are essential in industries such as food and beverages, agriculture, and personal care. Organic chemicals derived from renewable resources or biodegradable materials are gaining traction as governments and consumers prioritize sustainability.
In the pharmaceutical industry, organic chemicals are critical in the synthesis of various drugs and formulations. With the growing prevalence of chronic diseases and an aging population, the demand for high-quality organic compounds used in drug production is surging. Additionally, the agriculture sector is seeing an uptick in the use of organic chemicals, such as bio-based fertilizers and pesticides, as farmers adopt sustainable farming practices to meet global food demand.
The cosmetics and personal care industry is also driving growth in the organic chemicals market. Consumers are increasingly opting for products with natural and organic ingredients, which has led to a surge in demand for organic chemicals such as essential oils, organic acids, and plant-based compounds. Moreover, the use of organic chemicals in the manufacturing of paints, coatings, and adhesives is growing due to their superior performance and reduced environmental impact.
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Key Companies:
- AkzoNobel (Peroxide, Acrylics, Alkyd Resins)
- Alpek (PTA, PET, MEG)
- BASF SE (Polyurethane, Styrenics, Acrylic Acid)
- Cargill (Glycerin, Propylene Glycol, Sorbitol)
- China National Petroleum Corporation (CNPC) (Methanol, Acetone, Butadiene)
- Eastman Chemical Company (Acetate Tow, PET Resins, Plasticizers)
- ExxonMobil (Ethylene, Propylene, Butylene)
- Ineos (Styrene, Ethylene Oxide, Polyethylene)
- Koninklijke DSM N.V. (Methyl Methacrylate, Polyamide, Engineering Plastics)
- LG Chem (Acrylic Acid, PVC, Polycarbonate)
- LyondellBasell Industries (Polypropylene, Polyethylene, Ethylene)
- Mitsubishi Chemical Corporation (Acetic Acid, Epoxy Resins, Polycarbonate)
- Reliance Industries (PET, Polyethylene, Polypropylene)
- Royal Dutch Shell (Aromatics, Ethylene, Butadiene)
- SABIC (Acrylonitrile, Polyethylene, Methanol)
- Sinopec (Ethylene, Polyethylene, Propylene)
- The Dow Company (Polyurethane, Polyethylene, Propylene Glycol)
- PPG Industries (Epoxies, Acrylic Resins, Coatings)
- Huntsman Corporation (Polyurethane, Epoxy Resins, Specialty Chemicals)
- DuPont (Nylon, Teflon, Surlyn)
Organic Chemicals Market Report Scope:
Report Attributes | Details |
Market Size in 2023 | USD 12.75 Billion |
Market Size by 2032 | USD 24.25 Billion |
CAGR | CAGR of 7.40% From 2024 to 2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Data | 2020-2022 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • By Source (Natural, Synthetic) • By Product Type (Aromatic Chemicals, Aliphatic Chemicals, Chlorinated Hydrocarbons, Alcohols, Acids, Amides, Others) • By Application (Pharmaceuticals, Pesticides, Agrochemicals, Plastics and polymers, Cosmetics, Food & Beverages, Others) • By End-use Industry (Automotive, Construction, Electronics, Healthcare, Agriculture, Others) |
Key Drivers | • Growing Demand for Specialty Chemicals in Electronics and Automotive Sectors Fuels Organic Chemicals Growth • Increased Focus on Sustainable Practices and Green Chemistry Benefits Organic Chemicals Market Growth |
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Regional Insights: Asia Pacific Leads the Market
In 2023, the Asia Pacific region accounted for 45% of the organic chemicals market, making it the largest regional segment. This dominance can be attributed to the region’s vast production capacity, rapidly expanding industrial base, and increasing focus on sustainable practices.
China remains a major player in the organic chemicals market, owing to its robust manufacturing sector and high demand across industries such as pharmaceuticals, agriculture, and textiles. The country’s commitment to reducing its carbon footprint has also spurred innovations in bio-based organic chemical production. Additionally, India’s growing agriculture industry and government initiatives promoting organic farming are boosting the demand for organic chemicals, particularly bio-pesticides and fertilizers.
Meanwhile, countries like Japan and South Korea are experiencing increased demand for organic chemicals in the cosmetics and personal care sectors, driven by the rising preference for clean-label products. Rapid industrialization and advancements in chemical production technologies across the Asia Pacific are expected to solidify the region’s leading position in the market.
Market Segmentation
By Source
In 2023 synthetic chemicals held the largest share of 67% in the organic chemicals market. The use of synthetic organic chemicals is widespread due to their low cost and scalability. It plays an important role in the manufacture of many products such as plastics, solvents, and resins. Synthetic chemicals have become the cornerstones of such industries as automotive, electronics, and agriculture, as they offer both a cost-effective and performance-specific solution. As an illustration, in the automotive industry, synthetic chemicals are utilized in the manufacturing of lightweight and long-lasting parts. Likewise, in agriculture, the use of synthetic pesticides and herbicides is vital to crop protection and maximizing agricultural yield. With the increasing demand for cheaper and better materials, synthetic organic chemicals still outweighed essential chemicals in the innovation space with extensions in polymers and industrial chemicals.
By Product Type
Aromatic chemicals held the largest market share around 38% in 2023. Common examples are benzene, toluene, and xylene; their aromaticity is characterized by a special ring structure in the molecule. These chemicals play a key role in many industries and are used to make plastics, synthetic fibers, and resins, for example. Odorous compounds are also extensively used in the manufacturing of perfumes & spices, dyes, and adhesives. The increasing application of polymers in the automotive and construction industry is likely to drive the aromatic chemicals market growth. Furthermore, their usage in drug formulations, such as anti-inflammatory drugs, in the healthcare sector helps them to garner maximum market share. Due to the growing demand for versatile, high-performance chemical products across a wide variety of end-use industries, aromatic chemicals are likely to account for the leading portion of the global industrial chemicals market.
By End-User
The healthcare industry held the largest market share around 28% in 2023. In healthcare, the aging population, the latest developments in medical treatments, and wider attention on healthcare improvements have increased the consumption of organic chemicals. The production of vital pharmaceutical ingredients, vitamins, vaccines, and diagnostic reagents relies on organic chemicals. Organic chemicals also play a role in medical devices, such as materials used in wound care, diagnostic devices, and coatings. Additionally, organic chemicals play an important role in the healthcare sector, as they are utilized in beauty and personal care products, and the skincare industry accounts for a significant share of the demand across the healthcare sector from organic chemicals, especially in creams, lotions, and many therapeutic products.
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Recent Developments
- In 2023, BASF SE, a global leader in the organic chemicals market, launched a new range of bio-based solvents and intermediates for industrial applications. This move aligns with the company’s commitment to sustainability and reducing its carbon footprint.
- In 2023, Dow Inc. announced the development of a new bio-based polymer using organic chemicals derived from agricultural waste. This innovative product aims to address the growing demand for sustainable packaging solutions.
- In 2023, Evonik Industries partnered with a biotechnology firm to develop microbial fermentation processes for the production of high-value organic chemicals. This collaboration is expected to enhance the efficiency and sustainability of organic chemical production.
- In 2023, the Indian government launched an initiative to promote the use of bio-based fertilizers and pesticides, providing subsidies to farmers adopting organic farming practices. This policy is expected to boost the demand for organic chemicals in the agriculture sector.
Table of Contents – Major Key Points
1. Introduction
- Market Definition
- Scope (Inclusion and Exclusions)
- Research Assumptions
2. Executive Summary
- Market Overview
- Regional Synopsis
- Competitive Summary
3. Research Methodology
- Top-Down Approach
- Bottom-up Approach
- Data Validation
- Primary Interviews
4. Market Dynamics Impact Analysis
- Market Driving Factors Analysis
- PESTLE Analysis
- Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
- Production Capacity and Utilization, by Region, 2023
- Consumer Behavior and Demand Shifts, 2023
- Regulatory Impact, by Country, by Region, 2023
- Investment Landscape and Funding, 2023
- Innovation and R&D, 2023
6. Competitive Landscape
- List of Major Companies, By Region
- Market Share Analysis, By Region
- By Application Benchmarking
- Strategic Initiatives
- Technological Advancements
- Market Positioning and Branding
7. Organic Chemicals Market Segmentation, by Source
8. Organic Chemicals Market Segmentation, by Product Type
9. Organic Chemicals Market Segmentation, by Application
10. Organic Chemicals Market Segmentation, by End-use Industry
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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