Sebacic Market is projected to be worth USD 245.6 Million by 2030, registering a CAGR of 3.4% during the forecast period (2022 - 2030).
Sebacic Acid Market Overview
Sebacic Market is projected to be worth USD 245.6 Million by 2030, registering a CAGR of 3.4% during the forecast period (2022 - 2030). 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.
COVID 19 ANALYSIS
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
Arkema Group of France,
EVONIK of Germany,
Inolex Incorporation of the United States,
Casda biomaterials Co. ltd of China,
Shanxi Zhengang Chemicals Co. ltd of China,
HOKUKU KOGYO co. ltd of Japan,
Sebacic India ltd of India,
Croda International Pic of the United States,
Tianxing Biotechnology Co. ltd of China, and many more.
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.
Driversit is used in various end-use industries coupled with the growth in inclination towards personal care and some of the healthcare products drives up the sebacic acid market growth. The rise in demand for sebacic acid in various industries like automotive units, pharmaceuticals sectors, for construction, and packaging industries propels up the market demand and is used in increasing the sebacic acid market size. An increase in demand for adhesives and paintings and for giving the coatings heightens up the market size.OpportunitiesUsing sebacic acid for the production of bio-based polymers increases the opportunity of the market. These bio-based polymers so produced are of excellent quality. It is highly flexible and has increased durability. Investing much more in the building and construction sectors grows the market significantly.ChallengesA rise in health issues and the growth in environmental concerns has become a challenging factor for the development of the market. Change in lifestyle of the people is the most challenging factor for market demand. The investment and the indisposable income and the other initiatives taken by the government and the other market players have become the most challenging factor for the expansion of the business sector.Cumulative growthIncrease in investment in the retail sectors has made the availability of some of the beauty products which propels up the demand. The government has also taken initiatives to drive up the market size of the cosmetic industry. The ban of plastics in developing countries has been a blessing to the sebacic acid market.RestraintsThe presence of some of the substitutes like adipic acid and azelaic acid are some of the restraining factors deteriorating the sebacic acid market size. Jayant Agro’s growth was hit hard due to the outbreak of COVID. Thus COVID became a major restraining factor for promoting the growth of the markets.
By typeAs per the growing sebacic acid market trends, it has been found that the market is classified into both application and region. Based on application, the sebacic acid market is classified into cosmetics, personal care, plasticizers, solvents, adhesives, greases, paints and coatings, some of the textiles units, and candles. It also includes hydraulic fluids. Globally, based on region, the market is classified into North America, the European region, the Latin American region, some of the Asia Pacific regions along with the Middle East and African region. Here you will also mark that the polymer manufacturing unit occupies a dominant market share.By technologyDue to the advancement in technology it has been found that this dicarboxylic acid has been used for manufacturing PVC coatings at high temperatures having resistive abilities. Technology has led to the manufacturing of sebacic acid from certain compounds of butadiene and adipic acid.
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.
August 2021- Tula Skincare Glow & Get It has announced the launch of the latest Cooling & Brightening Eye Balm. The product is a quick, easy solution to eye problems. It promises to revitalize tired eyes in an instant. According to Tula, the product can be used at night and during the day. The company further added that the latest game-changing hyaluronic acid eye balm offers a lit-from-within glow while hydrating the skin, cooling it down, and helping reduce the look of fine lines & wrinkles around the eyes. Dermatologists test the product.The list of ingredients includes Potassium Sorbate, Ethylxeylglycerin, Tin Oxide, Xanthan Gum, Carylol Glycerin/Sebacic Acid Copolymer, Diphetyl Succinate, Tocopherol, Vaccinium Angustifoloium (Blueberry) Fruit Extract, Lens Esculenta (Lentil) Fruit Extract, Caffeine, Synthetic Fluorphlogopite, Xylitol, Aloe Barbadensis Leaf Juice, LISTWater/Aqua/Eau, Sodium Benzoate, Phenoxyethanol, Sodium Lactate, Menthone Glycerin Acetal, Lactic Acid, Pyrus Malus (Apple) Fruit Extract, Glycerin, Lactococcus Ferment Lysate, Propanedoil, Sodium Chloride, Sodium Stearate, Oleth-20, Citrullus Lanatus (Watermelon) Fruit Extract, Hyaluronic Acid, Sodium Pca, and Menthyl Lactate.In June 2020, Jayant Agro of India announced that their export of castor oil, a major component for the production of sebacic acid, may witness a slump in growth as the demand has gone down by 10%. This is primarily due to the COVID-19 crisis. The pandemic bludgeoned several industries to a halt. This will cause a plummet in demand and the supply link got disrupted as well.In the construction and automotive sector, the demand for the sebacic acid is going to take a hit as both these industries have suffered notably due to lockdowns across the globe. Limited workforce, blocked investment, lack in demand to counter the economic crisis are some of the major hindrances that the market is facing now. However, it is a temporary slowdown and with countries lifting bans, the market will once again get back to its feet.
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 2022-2030. 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||2030: 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.|
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.