Sebacic Acid Market, Growth, Size, Trends, Analysis And Forecast - 2022 To 2030
Sebacic Market is projected to be worth USD 245.6 Million by 2030, registering a CAGR of 3.4% during the forecast period (2022 - 2030).
COVID 19 Sebacic
Acid Market 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 to rise substantially. However, causes that are observed to
cause the Sebacic
Acid Market 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 is based on application. The
application-based segments of the global Sebacic Acid Market 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.
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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. 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
Acid industry 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.
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 that are listed by MRFR.
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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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