Sebacic acid is utilized in manufacturing polymers, cosmetics, and pharmaceuticals. Companies specializing in sebacic acid usually cater to industrial clients and formulate products with precise quality and purity standards to meet diverse application needs.
Sebacic acid, a versatile dicarboxylic acid, is experiencing a surge in popularity due to its sustainable and bio-based nature. This has ignited a fierce competition within the market, with players vying for dominance in this promising sector. Let's delve into the strategies adopted, factors influencing market share, recent industry news, and the current landscape of this dynamic market.
Strategies Adopted by Major Players:
Factors Influencing Market Share:
Recent Developments:
Sebacic Acid Market Size was valued at USD 0.196 Billion in 2022. The sebacic acid industry is projected to grow from USD 0.203 Billion in 2023 to USD 0.265 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.40% during the forecast period (2023 - 2032). Due to reduced carbon monoxide emissions and the implementation of strict environmental and regulatory laws, consumers are becoming more inclined to choose bio-based products over conventional ones are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for sebacic acid is being driven by the Its use across a range of end-use sectors, together with a rise in consumer interest in personal care and some healthcare items, which fuels the sebacic acid market's expansion. Sebacic acid is increasingly in demand across various industries, including the construction and packaging sectors, pharmaceuticals, automotive, and pharmaceuticals. This demand growth is a key factor in expanding the sebacic acid market. The market grows due to rising demand for coatings, adhesives, and other decorative materials.
Additionally, the market has more opportunities when sebacic acid is used to manufacture bio-based polymers. These bio-based polymers created in this way are of high quality. Along with greater durability, it is quite flexible. A considerable market expansion would result from significantly higher investment in the building and construction industries.
Due to technological advancements, it has been discovered that this dicarboxylic acid is employed to create PVC coatings with resistant properties at high temperatures. Sebacic acid may now be produced thanks to technology using specific butadiene and adipic acid molecules.
For instance, EDNOL DOZ is an azelaic acid-based plasticizer introduced by companies like Emery Oleo chemicals, a maker of specialty chemicals used mostly in PVC and synthetic rubber applications. As a result, it is anticipated that demand for sebacic acid will increase throughout the projection period due to the rising demand for sebacic acid in various industries. Thus, driving the sebacic acid market revenue.
The sebacic acid market segmentation, based on application, includes personal care & cosmetics, lubricants, textiles, household care, paints & coatings, and plasticizers. The personal care & cosmetics segment dominated the market, accounting for 60.3% of market revenue (0.118 Billion). It is used in a variety of compositions. 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. Moreover, the segment's growth is projected to be aided by greater awareness of personal care products, particularly in developing nations.
Figure 1: Sebacic Acid Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American sebacic acid market will dominate this market, owing to the wide range of products and widespread utilisation in end-use industries including the textile, apparel, and cosmetics industries, which are the main drivers of demand in North America. The region's Original Equipment Manufacturers (OEMs) are concentrating on improving automobiles by adding more paint layers on top of the base paint.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SEBACIC ACID MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's sebacic acid market accounts for the second-largest market share due to the growth in demand for it in the building and construction sector and some parts of the vehicle sector. The demand for this dicarboxylic acid is increasing as more industries use it to make plasticizers, adhesives, paints and coatings, lubricant units, and other products. Further, the German sebacic acid market held the second largest market share, and the UK sebacic acid market was the second largest growing market in the European region.
The Asia-Pacific sebacic acid Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rise in urbanization and commercialization in emerging nations. High adoption in the paint and coating sector boosts the growth and demand for cosmetics and other personal care goods, which is always beneficial for the growth of the sebacic acid market. Moreover, China’s sebacic acid market held the largest market share, and the Indian sebacic acid market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Sebacic Acid market, grow even more. Additionally, market participants are engaging in a variety of strategic initiatives to increase their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The sebacic acid industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the sebacic acid industry to benefit clients and increase the market sector. In recent years, the sebacic acid industry has offered some of the most significant advantages to medicine. Major players in the sebacic acid market, including Arkema Group (France), HOKOKU KOGYO Co. Ltd (Japan), Shanxi Zhengang Chemical Co., Ltd. (China), Casda biomaterials co. Ltd (China), EVONIK (Germany), Sebacic India Limited (India), Croda International Plc (U.K), Tianxing Biotechnology Co., Ltd. (China), and Inolex Incorporation (U.S.).
Hokoku Kogyo Co.,Ltd. was founded in 1957. The company's line of business comprises the production of fabricated structural metal and steel or other metal products for structural uses. For instance, In 2017, Hokoku Corporation constructed a second commercial centre in Tokyo to increase its presence in North Japan.
A variety of chemicals are produced and sold by Arkema SA. The company manufactures industrial chemicals, performance goods, and technical polymers such acrylics, polymethyl methacrylate (PMMA), hydrogen peroxide, and helpful additives.
May 2015:Â Businessman Shaikh Hilal Bin Khalid al Mawali of the Sultanate of Oman and Shipra Agrichem Pvt. Ltd. inked a contract in May 2015 to build the first sebacic acid plant in the Middle East at Duqm. Sebacic acid will be produced at a rate of 30,000 tonnes annually. This acquisition reinforced its position in the Middle East and Africa.
August 2021:Â Glow & Get by Tula Skincare The newest Cooling & Brightening Eye Balm has been launched, according to the announcement. The product offers an immediate and simple remedy for eye issues. It guarantees to instantly revive drained eyes. Tula claims that the cream is suitable for usage both during the day and at night. The business went on to say that the most innovative hyaluronic acid eye balm provides a lit-from-within glow while moisturizing, cooling, and assisting in the appearance of fine lines and wrinkles around the eyes. Dermatologists examine the item.
June 2020: India's Jayant Agro warned that because demand for castor oil, a key ingredient in the production of sebacic acid, has decreased by 10%, export growth may be affected. The COVID-19 dilemma is mostly to blame for this. Several industries came to a grinding halt as a result of the epidemic. As a result, demand fell precipitously, and the supply chain was broken. The need for sebacic acid will decline in the construction and automobile industries, adversely affected by lockdowns worldwide. The market's biggest challenges include a limited labor force, stalled investments, and a lack of demand to combat the economic crisis.
Sebacic Acid Market Highlights:
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