The market report “ Brassylic Acid Market by Production Methods (Fermentation/Microbial Synthesis and Chemical Synthesis), Raw Material Types (Paraffin Oil and Vegetable Oil), Applications (Plastics, Lubricants, Fragrances, Adhesives, Polymers & Copolymers, Spices, Surfactant, Pharmaceuticals, and High Performance Polyamides and Nylon), and Region – Forecast to 2028”. The Brassylic Acid market is growing at a CAGR of 5.8% by 2028, owing to increase the use of brassylic acid in the manufacture of perfumes.
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Based on raw material type, the crambe oil segment is estimated to grow at highest CAGR segment during the study period.
On the basis of raw material type, the market is categorised into paraffin oil and vegetable oil. Crambe oil segment is estimated to be the fastest growing market segment strongly driven by the availability of around 50-60% of erucic acid in crambe oil, which is used for the production of brassylic acid.
Based on production method, the chemical synthesis segment is anticipated to grow faster during the forecast period.
On the basis of production method, the market is divided into fermentation/microbial synthesis and chemical synthesis. Chemical synthesis segment is projected to grow faster during the forecast period, due to its low cost of chemical synthesis, less time consuming, and easy to follow procedure.
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By geography, Europe is expected to dominate the market
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe is experiencing a dominant position in the market, owing to the strong manufacturing base and sustainability in Europe, evolving lifestyle of the people, growing demand for fragrances, plasticizers, adhesives, and lubricants in end-use industries, and increase in presence of key players.
The key players in this market are Unisource Chemicals Pvt. Ltd., Zibo Guangtong Chemical Co.Ltd., Evonik Industries, Nantong Senos Biotechnology Co.Ltd., Cathay Industrial Biotech Ltd., Palmary Chemical, Shanghai Kaleys Holding Co.Ltd, Beyo Chemical Co. Ltd, Larodan Ab, and TCI Chemical Pvt. Ltd.
The Global Brassylic Acid Market is majorly driven by increase in the use of brassylic acid in the manufacture of perfumes, combined with a rise in the use of renewable sources, such as low-priced and readily available vegetable oil, and rising applications of brassylic acid in various end-use industries. The fragrances segment is growing at a highest CAGR owing to continuous demand of fragrances from various industries such as perfumes, cosmetics, personal care & cosmetics, and homecare among others. Europe dominated with a significant market share due to the increase in presence of key players, huge consumer base in this region, and the strong manufacturing base and sustainability in Europe has caused a spike in the demand for perfumes. Asia Pacific market is growing at a highest CAGR owing to increasing industrialization and urbanization in the region, an increase in disposable income along with change in people’s lifestyle, and rising demand for lubricants in Asia Pacific region.
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