Global Sebacic Acid Market – Synopsis
Sebacic acid, a dicarboxylic acid generally comes in powdered crystal form or white flake when it’s pure. Derived by the castor oil & adipic acid method Sebacic acid, and its derivatives like azelaic acid & etc. are used in numerous application areas in the industries such as plasticizers, lubricants, hydraulic fluids, cosmetics, & candles among others. Key application areas of Sebacic Acid are aircraft lubricant manufacturing as the synthesis of polyamide alkyd resins and as an intermediate for antiseptics, aromatics, and pant & coating materials.
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Top 10 Key Players in Sebacic Acid Market
The Global Sebacic Acid Market is led by some of the fervent key players including Hokoku Kogyo Co. Ltd (Japan), EVONIK (Germany), Casda biomaterials co. ltd (China), Tianxing Biotechnology Co., Ltd. (China), Sebacic India Limited (India), Croda International Plc. (UK), Shanxi Zhengang Chemical Co., Ltd. (China), Inolex incorporation (US), Hengshui Dongfeng Chemical Co. (China), Fulida Industry co.(China), Hengshui Jinghua Chemical Plant (China), Hebei Chengxin Co., Ltd. (China), VR Persulfates Pvt. Ltd.(India), Mitsu Toatsu Chemicals, Inc.(Japan), Qingdao Great Chemical (China), Unitchem Co Ltd. (South Korea) and Akrema Group (France). Profiling them in its analysis, MRFR finds out their strategies keeping them at the forefront of the competition.
The versatile Sebacic acid is non-hazardous, offering various advantages like adaptability and hydrophobicity to the products. That makes it ideal for a wide range of applications. Some of the newly found application areas of Sebacic acid include solvents, adhesives, personal care & cosmetics, and manufacturing of PVC coatings due to the enhanced temperature resistive abilities.
Attributing to the increasing demand in applications such as personal care and healthcare products textiles, cosmetics, textiles & automotive among others; Sebacic Acid is garnering a huge prominence over the past few years. Burgeoning industries like paints & coatings, automotive, packaging construction, and pharmaceuticals are expected to fuel the market growth further. Rising demand for textiles worldwide is escorting market growth to the ascended heights.
Acknowledging the kind of traction gained by this market, Market Research Future (MRFR) recently published a study report. According to the report, Sebacic acid market is expected to grow enormously by 2023, registering a phenomenal CAGR during the anticipated period (2017 – 2023). Growing nylon industry worldwide is anticipated to bring immense opportunities for this market.
On the other hand, the market is confronted with some of the challenges such as volatility of prices & supply of castor oil as an integral feedstock. Nevertheless, increasing production capacities of castor oil & Sebacic Acid in the Asia Pacific region is expected to propel the industry growth worldwide.
Global Sebacic Acid Market – Competitive Landscape
The global Sebacic Acid market appears to be fiercely competitive and fragmented with many well-established players having the global presence. Brand reinforcement, mergers & acquisitions, and innovation remain the popular trends for the key players in the market.
Industry/ Innovation/ Related News:
April 04, 2018 – Researcher Team at the University of Konstanz (Germany) published their study of a two-step, one-pot process they have developed for the synthesis of benzene from the five-fold unsaturated fatty acid – EPA (eicosapentaenoic acid), a component of microalgae oils. During the dehydrogenation step under hydrogen pressure, there occurred the formation of their saturated analogues – octanoic acid and sebacic acid. Both are desirable products.
February 13, 2018 – Sebacic Oman (World’s largest production capacity of Sebacic Acid) announced that plans to build USD 250 mn. Bio-based nylon project (nylon 6-10 and nylon 10-10) as a succeeding integration of its sebacic acid project, soon-to-be-operational in the Duqm free zone, Oman. This is going be the first ever production plant of bio-based nylon in the Middle East and the manufactured nylon will be used in aerospace and engineering polymers. The construction work of the plant is scheduled to start in 2020, and the project is estimated to be completed in 2022.
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Global Sebacic Acid Market – Geographical Analysis
Globally, Asia Pacific is the largest market for Sebacic Acid followed by the North America and Europe markets respectively. The APAC market is growing constantly owing to the presence of several notable manufacturers of Sebacic Acid coupled with the growing industrialization in the region. Moreover, the factors such as burgeoning paints & coating along with the cosmetic & personal care products industry help to bolster the regional market growth. The largest producer and consumer of Sebacic Acid Asia Pacific region is estimated to register the highest CAGR during the review period. Continuing with the same growth trends such as the emphasis on process and product development coupled with the growing application industries in this region, APAC is likely to retain its dominance in the global Sebacic Acid market.
While the North America market stands as the second largest market for Sebacic Acid owing to the presence of leading manufacturers in the region with the superior product offering. Owing to the high consumption of Sebacic Acid in the well-developed personal care, construction, and automobile industry mainly in the US, Canada, and Mexico among the other North American countries, the region is estimated to be the major revenue pocket for the global Sebacic Acid market by 2023.
The Europe market of Sebacic Acid is rapidly expanding in the global market. Augmented demand for the product, backed by the increasing application areas of a sebacic acid such as adhesives, plasticizers, lubricants and paints & coatings in some of the European countries like Germany, Italy, France and the UK drives the growth of the regional market.
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