New York, United States , July 18, 2024 (GLOBE NEWSWIRE) -- The Global Azelaic Acid Market Size is Expected to Grow from USD 200.80 Million in 2023 to USD 406.10 Million by 2033, at a CAGR of 7.30% during the forecast period 2023-2033.
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Azelaic acid is a topical medication that treats acne, rosacea, and skin discoloration. Azelaic acid is a dicarboxylic acid found naturally in cereal grains like wheat, rye, barley, and animal products. Azelaic acid is available on prescription in gel, foam, and cream forms (Azelex and Finacea), as well as in lower doses over the counter. Azelaic acid concentrations range from 10% to 12% in over-the-counter drugs to more than 15% in prescription medications. Azelaic acid has anti-inflammatory properties without being particularly irritating. One of the key driving forces behind the azelaic acid industry is its effectiveness in treating a variety of dermatological disorders. Azelaic acid is known for its ability to treat acne, rosacea, and hyperpigmentation disorders such as melasma. Furthermore, the growing need for skincare products that target particular dermatological needs, combined with increasing consumer knowledge and preferences for effective and scientifically-backed components, drives the market for azelaic acid. However, the azelaic acid market faces several challenges that limit its growth and adoption, including limited awareness among consumers and healthcare professionals about its benefits, regulatory hurdles that differ by region and slow down approvals, and the availability of alternative treatments for similar dermatological conditions.
Browse key industry insights spread across 213 pages with 110 Market data tables and figures & charts from the report on the “Global Azelaic Acid Market Size, Share, and COVID-19 Impact Analysis, By Grade Type (Polymer-Grade, Pharma-Grade, Technical-Grade), By Application (Pharmaceutical, Adhesives, Plastics, Lubricants, Personal Care & Cosmetics, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The pharma-grade segment is predicted to hold the largest market share through the forecast period.
Based on the grade type, the azelaic acid market is classified into polymer-grade, pharma-grade, and technical-grade. Among these, the pharma-grade segment is predicted to hold the largest market share through the forecast period. This dominance is due to its high purity and rigorous quality standards, which make it ideal for pharmaceutical and cosmetic applications that treat skin problems like acne, rosacea, and hyperpigmentation disorders.
The plastics segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the azelaic acid market is divided into pharmaceuticals, adhesives, plastics, lubricants, personal care & cosmetics, and others. Among these, the plastics segment is anticipated to hold the highest market share during the projected timeframe. This dominance arises from azelaic acid's critical role as a polymerization catalyst in the production of a wide range of plastics, particularly engineering plastics like polyamides used in automotive, electronics, and industrial applications.
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North America is estimated to hold the largest share of the azelaic acid market over the forecast period.
North America is estimated to hold the largest share of the azelaic acid market over the forecast period. The azelaic acid market in North America will be the most dominant. The region's growth is primarily driven by the increasing prevalence of skin problems such as rosacea and aches, the growing demand for natural and organic skincare products, and the presence of important market rivals.
Asia Pacific is predicted to have the highest CAGR growth in the azelaic acid market over the forecast period. The Asia-Pacific azelaic acid market is being driven by factors such as the region's developing cosmetic industry, rising demand for skincare products, and growing awareness of its benefits. The increased prevalence of skin issues and illnesses is another factor driving the market's rising trend.
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 key players in the azelaic acid market include BASF, Croda International plc, Nantong Hengxing Electronic Materials Co Ltd, Wufeng Chicheng Biotech Co., Ltd., Xi'an Sonwu Biotech Co., Ltd., Emery Oleochemicals, Haihang Industry Corporation, Nantong Jinghua Pharmaceutical Co., Ltd., Jiangsu Senxuan Pharmaceutical and Chemical Co Ltd, Matrìca S.p.A., LG Chem, Evonik Industries AG, Solvay SA, and Other key companies.
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Recent Developments
- In December 2022, Drunk Elephant's new product, Bouncy Brightfacial, emphasizes azelaic acid as a key ingredient.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the azelaic acid market based on the below-mentioned segments:
Global Azelaic Acid Market, By Grade Type
- Polymer-Grade
- Pharma-Grade
- Technical-Grade
Global Azelaic Acid Market, By Application
- Pharmaceutical
- Adhesives
- Plastics
- Lubricants
- Personal Care & Cosmetics
- Others
Military Rotorcraft Market, Regional Analysis
- 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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