Sebacic Acid is a dicarboxylic acid that is a powdered crystal or white flake in its pure form. Market Research Future (MRFR) has published a research report about the Global Sebacic Acid Market that predicts growth for this market during the forecast period between 2017 and 2023.
The major reason for the growth of the Global Sebacic Acid Market is its features of adaptability and hydrophobicity that are improving the application scope of the market growth. Other important factors helping the market growth are rising usage of Polyvinyl chloride (PVC) coatings and the intensifying usage of Sebacic Acid in adhesives, cosmetics, personal care products, plasticizers, solvents, and textiles. Personal care and healthcare products are playing a major role in market growth, compared to other products.
The Global Sebacic Acid Market has been segmented on the basis of Application, and Region. The Application-Based Segmentation segments this market into adhesives, candles, chemical intermediates, greases, hydraulic fluids, lubricants, paints & coatings, personal care & cosmetics, plasticizers, solvents, textiles, and others.
The regional segmentation of the Global Sebacic Acid Market segments the market into regional markets known as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa (MEA). Asia Pacific region is the most important regional market. In this region, the market is growing due to the growing urbanization and industrial development in the developing economies. Other important factors driving the market growth include the adoption rate in the paints & coatings industry, growing applications of Polyvinyl chloride (PVC) coatings, and growing demand for cosmetic & personal products. Regarding investment, the market is growing due to increasing investment in the building & construction sector and the retail sector. In the retail sector, the market is growing due to the easy availability of cosmetics and personal care products. In this region, the key country-specific markets are China, India, and Japan, followed by the remaining countries in the Asia Pacific region.
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North America is the second most important regional market, followed by Europe. Both markets show steady growth during the forecast period. In these two regions, the market is growing due to developed personal care, construction, and automobile industry. Growing applications of a Sebacic Acid such as adhesives, lubricants, paints & coatings, plasticizers, are also hiking the market growth. In North America, the key country-specific markets are Canada, Mexico, and the USA. In Europe, the vital country-specific markets are Germany, Italy, and the UK.
Argentina, Brazil, and Uruguay are the strong economies that have the potential to grow as suitable markets in Latin America. Latin America is a crucial market but compared to North America; it is a smaller market as it lacks in the standard of technological advancement, compared to North America.
In the MEA region, the Market is expected to witness limited growth due to the growing oil and gas activities in this region. Demand for Sebacic Acid is expected to grow because this acid is used as plasticizers in the biding of oil. In this region, the significant country-specific markets are Kuwait, North Africa, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), followed by the remaining countries in the MEA region.
Key Players:
The key players in the global sebacic acid market include Akrema Group (France), Casda biomaterials Co. Ltd (China), Croda International PLC (UK), EVONIK (Germany), HOKOKU KOGYO Co. Ltd (Japan), Inolex Incorporation (USA), Sebacic India Limited (India), Shanxi Zhengang Chemical Co. Ltd. (China), and Tianxing Biotechnology Co. Ltd. (China).
Latest Industry News:
Covestro, Henkel, and Jowat have jointly developed polyurethane dispersion adhesives (PUD) with a bio-based content of over 50 percent. 29 NOV 2018
With the trade between India and Oman has grown nearly 67% over the last year, the market for many things, including sebacic acid is growing in both countries. 14 AUG 2018
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