New York, United States , Aug. 01, 2024 (GLOBE NEWSWIRE) -- The Global Sebacic Acid Market Size is to Grow from USD 0.42 Billion in 2023 to USD 0.564 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 2.99% during the projected period.
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Sebacic acid is a naturally occurring dicarboxylic acid, primarily generated from castor oil, with the formula (HOOC) (CH2)8 (COOH). It is a white flake or powdered crystal that dissolves in ethanol and ether and is somewhat soluble in water. Sebacic acid is mostly produced by dividing castor oil and fusing it with caustic. It can be utilized in a variety of applications, including plastics, antifreeze plasticizers, solvents, softeners, and additives. Furthermore, it can be used in high-temperature lubricants, synthetic lubricating greases, artificial tastes, and medical applications. The increased need for environmentally friendly alternatives has driven up demand for bio-based sebacic acid, particularly in the automotive, cosmetics, pharmaceutical, and plastics industries. Companies are increasingly including sebacic acid in their formulations to meet consumer demand for environmentally friendly and natural products. Technological advances in manufacturing methods have enhanced efficiency and reduced prices, moving the sebacic acid market forward.
Browse key industry insights spread across 187 pages with 110 Market data tables and figures & charts from the report on the "Global Sebacic Acid Market Size, Share, and COVID-19 Impact Analysis, By Source (Castor Oil, and Adipic Acid), By Application (Personal Care & Cosmetics, Lubricants, Textiles, and Household Care), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The castor oil is projected to increase the market growth during the forecast period.
Based on the source, the global sebacic acid market is divided into castor oil and adipic acid. Among these, castor oil is projected to increase the market growth during the forecast period. The substantial amount of ricinolein acid in castor oil facilitates the manufacture of high-purity derivatives. Its unique hydroxyl group complements the double bond and carboxyl groups, making it conducive to chemical reactions. Castor oil is helpful because of its excellent solubility in alcohols and constant viscosity at all temperatures. It is a viable renewable source of output, especially in nations with established healthcare infrastructure and significant biodiesel production. The shift from conventional to biofuels prompted by crude oil price volatility can increase global demand for castor oil.
The personal care & cosmetics are anticipated to hold the largest market share during the forecast period.
Based on the application, the global sebacic acid market is divided into personal care & cosmetics, lubricants, textiles, and household care. Among these, personal care & cosmetics are anticipated to hold the largest market share during the forecast period. It plays an essential role in many products as a pH adjuster, hard filming agent, and smell enhancer. The rising use of social media is also helping to enhance the cosmetics industry. Furthermore, rising awareness of personal care products, particularly in emerging markets, is likely to boost market growth. Sebacic acid is an important ingredient in personal care products because of its moisturizing and emollient characteristics. These are a few of the key variables driving market expansion.
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Asia-Pacific is expected to hold the largest share of the global sebacic acid market over the projected timeframe.
Asia-Pacific is expected to hold the largest share of the global sebacic acid market over the projected timeframe. Asia Pacific's expanding automotive sector, united with an increasing emphasis on maintainable materials, is driving demand for sebacic acid-based bioplastics and lubricants, which has the potential to accelerate market growth. Additionally, strong economic growth has led to greater investment in infrastructure and development, increasing demand for commercial vehicles and thereby driving market growth in this region. High acceptance in the paint and coating industry stimulates growth and demand for cosmetics and other personal care products, which is always helpful to the sebacic acid market.
North America is expected to experience the fastest CAGR during the projection period. The increasing use and demand for sebacic acid in North American industries such as plastics, textiles, automotive, aerospace, cosmetics, and healthcare are driving market growth. Growing urbanization, economic development, and technical improvements all contribute to market expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the sebacic acid market include Arkema Group, Central Drug House Pvt. Ltd., Chemtech B.V., Hengshui Jinghua Chemical Co. Ltd., HOKOKU Corp., Inolex Inc., Jayant Agro Organics Ltd., LABDHI CHEMICALS, Merck KGaA, Naugra Export, Santa Cruz Biotechnology Inc., Sebacic India Ltd., Silver Fern Chemical Inc., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co. Ltd., Wilmar International Ltd., Wincom Inc., Corvay GmbH, Shivam Castor Products Pvt. Ltd., Tianxing Biotechnology Co. Ltd, and Others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global sebacic acid market based on the below-mentioned segments:
Global Sebacic Acid Market, By Source
- Castor Oil
- Adipic Acid
Global Sebacic Acid Market, By Application
- Personal Care & Cosmetics
- Lubricants
- Textiles
- Household Care
Global Sebacic Acid Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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