Sebacic Acid Market Size, Share, Trend, Growth Prospects, Key Drivers and Opportunity Analysis
The sebacic acid market will reach at an estimated value of USD 637.17 million and grow at a rate of 6.50% for the forecast period of 2021 to 2028. Rise in the government initiatives and policies stimulating bio-based products acts as a vital factor driving the growth of sebacic acid market.
Sebacic acid is defined as a powdered crystal or white flake that is obtained from castor oil by utilizing sulfuric acid with catalysts including phenol and zinc oxide and sodium hydroxide. It is extensively used in numerous end use industries which includes lubricants, plasticizers, hydraulic fluids, candles, and cosmetics.
Rise in the government initiatives and policies stimulating bio-based products acts as the vital factor escalating the market growth, also extensive usage in several end-use industries, such as lubricants, paints, and adhesives, and polymers, rise in the inclination towards personal care and healthcare products, rise in the population along with growing awareness about personal health and skin care products and rise in the investment in the building and construction sector are the major factors among others driving the sebacic acid market. Moreover, rise in the automobile production and rising research and development activities in the market will further create new opportunities for the sebacic acid market in the forecast period of 2021- 2028.
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Scope of the Sebacic Acid Market Report:
The sebacic acid market is segmented on the basis of source and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on source, the sebacic acid market is segmented into castor oil and adipic acid.
- The sebacic acid market is also segmented on the basis of application into personal care & cosmetics, lubricants & greases and metalworking fluids.
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The major players covered in the sebacic acid market report are BASF SE, Triveni chemicals, Shandong Siqiang Chemical Group Co. Ltd, Tongliao Xinghe Biotechnology Co., Ltd. Tianxing Biotechnology Co., Ltd, Shipra Agrichem Pvt Ltd, Zhengzhou Yibang Industry & Commerce Co., Ltd, Shanghai Hope-chem Co., Ltd, KGN Enterprises, Santa Cruz Biotechnology, Inc., HOKOKU Co., Ltd, Hengshui Jinghua Chemical Co Ltd, Sebacic India Limited and Arkema among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Sebacic Acid Market Regional Analysis/Insights
The Sebacic Acid market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.
The countries covered in the Sebacic Acid market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Sebacic Acid within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Sebacic Acid market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.
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