Pune, India, September, 2023/MRFR Press Release/- Market Research Future published a cooked research report on “Global Sebacic Acid Market Research Report - Forecast to 2032” - Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2032.
MRFR recognizes the following companies as the key players in the Global Sebacic Acid Market— Akrema Group, EVONIK, HOKOKU KOGYO Co. Ltd, Casda biomaterials co. Ltd, Sebacic India Limited, Tianxing Biotechnology Co. Ltd., Shanxi Zhengang Chemical Co. Ltd., Croda International Plc, and Inolex incorporation.
Sebacic Acid Market Highlights
The Global Sebacic Acid Market is accounted to register a CAGR of 3.40% during the forecast period and is estimated to reach USD 0.26 Billion by 2032.
Global Sebacic Acid Market refers to the worldwide market for sebacic acid. Sebacic acid is a dicarboxylic acid derived from castor oil and is used in various industrial applications. It is a key raw material in the production of nylon, polyester resins, plasticizers, lubricants, cosmetics, and other products.
The global sebacic acid market encompasses the production, distribution, and consumption of this chemical compound across different regions and industries. Factors such as the growing demand for nylon and polyester in textile and automotive industries, increasing applications in personal care products, and the development of bio-based sebacic acid contribute to the market's growth.
Segment Analysis
The Global Sebacic Acid Market has been segmented based on application.
On the basis of application, the market is segmented into Personal Care & Cosmetics, Lubricants, Textiles, Household Care, Paints & Coatings and Plasticizer. The personal care & cosmetics segment dominated the market. It is a key ingredient in many goods as a pH adjuster, hard filming agent, and aroma enhancer. Social media's expanding popularity is also aiding the rise of the cosmetics industry.
Regional Analysis
The Global Sebacic Acid Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Sebacic Acid Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Sebacic Acid Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Sebacic Acid Market comprises of Middle East, Africa, and Latin America.
In North America, the sebacic acid market was driven by the region's well-established chemical industry and the demand for sebacic acid in various applications, such as plastics, lubricants, and cosmetics. The United States was a major producer and consumer of sebacic acid, with several manufacturers operating in the country.
Europe was another significant market for sebacic acid due to the presence of a robust automotive industry and the growing demand for eco-friendly products. The region's emphasis on sustainability and renewable chemicals also supported the development of bio-based sebacic acid.
The Asia-Pacific region was a key driver of the global sebacic acid market. Rapid industrialization, growing population, and increased disposable income contributed to the demand for end-products like textiles, automotive parts, and cosmetics, where sebacic acid is used.
Furthermore, the rest of the world's Global Sebacic Acid Market is divided into the Middle East, Africa, and Latin America. Latin America showed potential growth in the sebacic acid market, with Brazil being a significant player due to its expanding automotive and cosmetics industries. The region's emerging economies and increasing industrial activities provided opportunities for market expansion.
Key Findings of the Study
- The Global Sebacic Acid Market is expected to reach USD 0.26 Billion by 2032, at a CAGR of 3.40% during the forecast period.
- In North America, the sebacic acid market was driven by the region's well-established chemical industry and the demand for sebacic acid in various applications, such as plastics, lubricants, and cosmetics.
- Based on application, the market is segmented into Personal Care & Cosmetics holding the largest market in 2022.
- Akrema Group, EVONIK, HOKOKU KOGYO Co. Ltd, Casda biomaterials co. Ltd, Sebacic India Limited, Tianxing Biotechnology Co. Ltd., Shanxi Zhengang Chemical Co. Ltd., Croda International Plc, and Inolex incorporation.
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Report details
| Base Year | 2023 |
| Companies Covered | 15 |
| Pages | 139 |
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