Global Sebacic Acid Market: Overview
Sebacic acid occurs naturally dicarboxylic acid in a pure state in the white flakes or powered state. The acid is non-hazardous, however, it is prone or can lead to flash ignition. The sebacic acid has application in the manufacturing plasticizers, hydraulic fluids, lubricants, cosmetics, and candles. It also has application as intermediate in aromatics, painting, and antiseptics.
The sebacic acid market report signifies the market current scenario along with predicts the future growth. The report also reflects opportunities in the global sebacic acid market for growth. It also includes the competitive landscape of the sebacic acid market. The sebacic acid market report includes information on key players including company history, annual turnover, contribution in global revenue, new product launches SWOT analysis, and mergers and acquisitions (M&A) activities.
Global Sebacic Acid Market: Drivers and Restraints
Sebacic acid is a derivative of castor oil that is used as an eco-friendly alternative for polymers and lubricants. Rising demand for the biodegradable polymers for its eco-friendly nature is boosting adoption of sebacic acid. Also, growing support and encouragement from the numerous government is supporting the demand for sebacic acid. These factors are boosting the growth of the global sebacic acid market.
Growing usage of sebacic acid in the cosmetic industry coupled with the growing adoption of the personal health and skin care products is amplifying demand in the coming years. Additionally, growing disposable income along with growing awareness among people about health and personal aesthetics is boosting the adoption of the skin and home care products. The aforementioned factor is boosting the growth of the global sebacic acid market and likely to support growth over the forecast period.
Widening applications of sebacic acid in numerous end-use industries including paints and adhesives, lubricants, and polymers are contributing toward the growth of the market. Moreover, growing people living the urban lifestyle especially in developing countries such as India and China is assisting to boost demand for cosmetic products.
Global Sebacic Acid Market: Geographical Analysis
On the basis of region, the sebacic acid market could be segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these regions, Asia Pacific is dominating the global sebacic acid market and is expected to expand with faster CAGR over the forecast period. This growth is credited to growing industrialization and urbanization coupled with growing public and private investment in infrastructure development in India and China.
Global Sebacic Acid Market: Companies Mentioned
Some of the key players operating in the sebacic acid market are Sebacic India Ltd., Wincom, Inc., Arkema, Hokoku Corporation, Jayant Agro-Organics Ltd., Tianxing Biotechnology Co., Ltd., Shandong Siqiang Chemical Group Co., Ltd., and Shipra Agrichem Pvt. Ltd. These companies are gaining benefit from the availability of the raw material for manufacturing the sebacic acid mainly in the developing countries in the Asia Pacific such as India and China.