ID: MRFR/CnM/0493-HCR | February 2021 | Region: Global | 139 pages
Sebacic Market is projected to be worth USD 245.6 Million by 2027, registering a CAGR of 3.4% during the forecast period (2020 - 2027).
Sebacic Market is a dicarboxylic acid. It is a pure form of powdered crystal or some other white flakes. It is said to be a non-hazardous acid used for manufacturing bio-polyamides. Its adaptability and hydrophobicity are used for certain purposes. Besides it, it is used for some other applications like plasticizers, solvents, adhesives, cosmetics, and used for personal care. This dicarboxylic acid is used as feedstock for producing sebacate diesters which are used for lubrication and for greasing.
It is categorized as a second-generation derivative and is derived from castor oil. It covers a sebacic acid market share of 27% where it has also been used for manufacturing nylon 6.10.
The outbreak of the pandemic brought many industries to a halt. This pandemic caused a plummet in demand where the supply chain of sebacic acid was disrupted. Many industries including the automotive and construction sectors suffered a breakdown as both of these industries had undergone shut down due to the nationwide shutdown and lockdown which was so imposed by the government. Globally, it has been marked that the labor force decreased. COVID resulted in the blocking of the investment. The industries also faced some economic crises where the demand of the market size was decreased. COVID had brought major hindrances which the market is facing till now. A temporary slowdown was faced and most of the countries lifting bans were noticed. The market will take time to normalize again.
Some of the market players that faced a major role in the market are
These companies have carried out various research and developmental activities and have introduced several manufacturing methods for recycling and reusing the polymers of sebacic acid thus trying to inflate in the market and occupy the top position. The market players have set up certain manufacturing facilities in the developing countries where castor seeds are in high demand where it gets various lucrative opportunities for the future.
The sebacic acid industry is classified into several regions such as some of the European regions, Latin American regions, Asia Pacific, North American, and some of the Middle East and African areas. It has been noted that the Asia Pacific region holds the largest sebacic acid market share and it still holds the same market value at the same CAGR during the market forecast period. The growth in urbanization along with commercialization in the emerging countries are the main driving factors that surge up the sebacic acid market size. High adoption for the paints and coating industry raises the growth and demand of cosmetics and personal care beauty products which always has a positive effect on the expansion of sebacic acid market size.
Some of the North American region followed by European areas shows an exponential growth during the market forecast period. This region covers the leading sebacic acid market share as it holds the largest position due to its rise in demand for the beauty care industry, building and construction units, and some of the automobile industry. growth in applications of this dicarboxylic acid such as for the manufacture of plasticizers, adhesives, paints and coatings and lubricant units rises the market demand. The regions of the Middle East and African regions show positive growth during its review period due to its growth in oil and in gas activities which surges up the demand for sebacic acid thus owing to its use as plasticizers for biding the oil.
The report highlights the market forecasts period during which certain growth has taken place. It also summarises the voluminous growth taking place at a regional and country level. From the report analysis, you will find information about the various sebacic acid market trends taking place in each of the segments during 2020-2027. The report addresses the market intelligence so adopted by the key players for making effective decisions.
The report summarises the emerging estimations and the dynamics put forward in the market. It gives details about the suppliers and the manufacturers who define the competitive scenario so being operated in the market. It gives comprehensive details about the driving forces and the growth factors so being applied here. It highlights the positioning of the key products in the market and symbolizes how the competitors have been monitored within the market scenario.
|Market Size||2027: USD 245.6 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Akrema Group (France), EVONIK (Germany), HOKOKU KOGYO Co. Ltd (Japan), Casda biomaterials co. ltd (China), Sebacic India Limited (India), Tianxing Biotechnology Co., Ltd. (China), Shanxi Zhengang Chemical Co., Ltd. (China), Croda International Plc (U.K), and Inolex incorporation (U.S.).|
|Key Market Opportunities||Sebacic acid is provides various advantages such as adaptability and hydrophobicity among others.|
|Key Market Drivers||The growing demand for personal care and cosmetic products from urban areas around the world.|
Frequently Asked Questions (FAQ) :
Chemically, it has been marked that the United States market is driven as it has been majorly adopted by a majority number of people. A rise in the population along with the increase in growth in personal care and skincare products have steered up the sebacic acid market growth. It has been used in large numbers in some of the end-use industries.
Castor oil is the important raw material for the manufacturing of sebacic acid. Castor seeds are in huge demand due to which the process of sebacic acid has been increased during the market forecast period. Strict rules and regulations have been imposed were high energy and the costs of the lod=gistics have propelled up the sebacic acid market size.
The rise in market size of sebacic acid along with the increase in consumer inclination towards bio-based products over conventional products owes to less emission of carbon monoxide and applications of stringent environmental and governmental regulations. The lubricant segment holds a certain sebacic acid market value of 120 million during the forecast period of 2018. This acid plays the role of additives for fewer temperature lubricants.