New York, USA, Dec. 21, 2020 (GLOBE NEWSWIRE) -- According to a Research Dive published report, the global synthetic camphor market is estimated to generate $367.0 million by 2027, and grow at a significant CAGR of 5.9% from 2019 to 2027. As per our analysts, the growing utilization of pharma-graded synthetic camphor in the production of OTC drugs, due to its antifungal and antibacterial properties is the major factor predicted to drive the global market growth over the forecast period. On the contrary, fluctuations in raw material prices used for the synthetic camphor production is expected to restrict the global market growth in the near future.
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Technical Grade Segment to Hold Highest Market Share
By grade, the technical grade segment is predicted to account for the majority of market share in and generate a revenue of $76.9 million by the end of 2027. This is mainly because synthetic camphor is extensively used as a plasticizer, due to its ability to increase workability and fluidity of polymers.
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Flavor & Fragrance Segment to Grow at Significant Rate by 2027
By application, the flavor & fragrance segment is estimated to observe a considerable growth during the forecast period, as synthetic camphor is widely used in the flavor & fragrance industry in order to enhance aroma and taste of food & other products.
Asia-Pacific Region to Dominate the Global Industry
By region, the Asia Pacific market for synthetic camphor is estimated to subjugate the global industry and is projected to garner $128.9 million by the end of 2027. The dominance of this region is majorly attributed to the huge production rate of camphor and the presence of indigenous trees from which synthetic camphor is manufactured.
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Prominent Market Players
1. Kanchi Karpooram Limited
2. Mangalam Organics Limited
3. Saptagir Camphor Limited
4. Oriental Aromatics Limited
5. Aldon Corporation
6. Nagase & Co. Ltd.
7. Skyrun Industrial Co. Ltd.
8. Spectrum Laboratory Products Inc.
9. Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd.
10. Taiwan Tekho Camphor Co. Ltd.
Further, the report presents and outlines several aspects of these key players such as recent strategic moves, developments, business performance, product portfolio, and SWOT analysis.
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In September 2019, Palm Organix Company launched ‘Zero THC CBD Lotion w/ Camphor,’ in the skincare product line in New Jersey. This lotion contains 200 milligrams of pure Phytocannabinoid Rich Hemp oil along with menthol, camphor oil, and essential oils. The combination camphor with is focusing on pain relief from aches, irritation, and itching & bruising, pains.
The report summarizes various aspects of all the prominent players functioning in the market such as financial performance, recent strategic moves & developments, product portfolio, and SWOT analysis. Click Here To Get Absolute Top Companies Development Strategies Summary Report
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