Market Research Future (MRFR) assessed the global Sebacic acid market size is projected to be worth USD 245.6 Million by 2027, registering a CAGR of 3.4% during the forecast period 2020 - 2027
COVID 19 sebacic acid market size evaluation is offered with the report. The rise in demand for sebacic acid across cash-rich end-users, such as plasticizers, lubricants, cosmetics, hydraulic fluids, and candles can support expansion of the market in the analysis period. The expansion of sebacic acid can be drawn on rise in demand for lubricants for automotive and industrial applications. Further, rise in the need for sebacic acid for the production of sought-after polymers and cosmetics, along with emerging personal grooming trends can propel the market through the review period. Escalation in investment made in the building & construction sector, along with the paints & coatings sector, can cause the sebacic acid market size to rise substantially. However, causes that are observed to cause the sebacic acid market size slow-down are elaborated in the report. The report provides insights on the market that are highly reliable and can assist investors make rational decisions.
Segmental Analysis
The segment assessment of the global sebacic acid market size is based on application. The application-based segments of the global sebacic acid market size are lubricants, personal care & cosmetics, plasticizers, greases, adhesives, solvents, paints and coatings, chemical intermediates, candles, textiles, and hydraulic fluids among others. The surge in the application of sebacic acid in the production of PVC coatings and increase in its requirement across the retail sector can favor the market expansion through the review period. The growing preference of personal care products and cosmetics that contain sebacic acid are expected to favor the market through the assessment period. The increase in construction and automobile application of sebacic acid can promote the market. The growing demand for sebacic acid across the expanding oil and gas sector can favor the market rise.
Key Players
Akrema Group (France), HOKOKU KOGYO Co. Ltd (Japan), Croda International Plc (U.K), EVONIK (Germany), Casda biomaterials co. ltd (China), Tianxing Biotechnology Co., Ltd. (China), Sebacic India Limited (India), Shanxi Zhengang Chemical Co., Ltd. (China), and Inolex incorporation (U.S.) are some key players that are observed to function in the sebacic acid market size that are listed by MRFR.
Regional Analysis
In North America, the increase in application of bio-based polymers market and escalation in the made investment made by bio-based product manufacturers can promote expansion of the regional market. The rise in demand for fuels, chemicals, polymers, and lubricants can have positive impact on the regional sebacic acid market size. The ecological benefits offered by sebacic acid, such as reduction in waste generation and curbed environmental hazards can also favor the market in North America.
In APAC, the ongoing innovation of bio-based products to curb ecological footprint can act as a driving factor for the regional EU market. The increase in the adoption of azelic acid-based plasticizer that is used significantly in the production of PVC and in the synthetic of rubber can support expansion of APAC sebacic market.
In Europe, the market is likely to hold a decent share of the world sebacic market for the analysis period. Rapid urbanization and increase in industrial developments can favor expansion of the regional market for the analysis period. The rapid adoption of sebacic acid in the paints and coatings industry can support the market expansion. The regional assessment of the sebacic acid is done to understand the demographic progress of the market in the near future.
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Industry Updates:
Mar 2021 Sulzer Chemtech Ltd lately revealed a solvent-based liquid-liquid extraction (LLE) procedure for treating phenol-laden wastewater from sebacic acid manufacture. Retaining Sulzer's ECR agitated column in the LLE scheme, the procedure abolishes phenol employing ricinoleic acid, which was previously used as a reagent to make sebacic acid, thus removing the need for additional solvents, as well as solvent-recovery systems. Also, the phenol extracted from the wastewater is reused in the alkali fusion-cracking stages of the procedure.
Nov 2020 Sebacic Oman is assuming a USD 1.2 billion project for setting up the main Sebacic acid plant in the Middle East. A 'Little India' combined tourism complex scheme in Duqm, worth USD 748 million, has been authorized between the two countries.
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