Sebacic acid is a special derivative of castor oil, which is usually used as an environmentally friendly alternative to polymers & lubricants. It is generally used in the automotive and aerospace industries due to its excellent lubricity, high flash points, low temperature fluidity and high thermal stability. Increasing consumer preference for bio-lubricants over traditional lubricants due to growing focus on reducing the CO2 emissions along with strict environmental policies is projected to drive the demand growth for sebacic acid. Moreover, at high altitudes, sebacic acid is also utilized as an ingredient in the low temperature lubricants. Additionally, growth in consumer spending and increase in investments in the automotive industry to produce the high-performance fuel-efficient vehicles are projected to further propel the product demand.
As per analysis, “Global Sebacic Acid (CAS 111-20-6) Market, 2021-2027” the key companies operating in the global sebacic acid market include Hengshui Jinghua Chemical Co., Ltd, Tongliao Xinghe Biotechnology Co., Ltd., Lanxess AG, Arkema S.A., Mitsui & Co., Ltd. Group, Vertellus Specialties Inc., Hebei Casda Biomaterials Co., Ltd., Rianlon Kaiya (Hebei) New Material Co., Ltd and among others. Leading companies are primarily focused on developing novel technologies to produce the sebacic acid from new sources for instance butadiene and adipic acid.
Based on application, the sebacic acid market is categorized as coatings & adhesives, plasticizers, metalworking, personal care & cosmetics, textile and others. The plasticizers segment is likely to witness higher CAGR owing to increase in usage of polymers & plastics during the forecast period. In addition, these sebacate plasticizers have improved low-temperature properties in contrast to phthalate plasticizers. As a result, the shift in focus to developing and using bio-based polymers to minimize negative environmental impacts is expected to fuel consumer demand over the forecast period.
Growth in population, followed by rise in government initiatives & policies stimulating bio-based product, growth in inclination towards personal care & healthcare products, rise in awareness about personal health & skin care products, increase in investment in the building & construction sector and extensive usage in several end-use industries such as paints, lubricants, adhesives, and polymers are some major factors, which are responsible for growth of the sebacic acid market. Apart from this, presence of substitutes for instance azelaic acid and adipic acid is a major hindering factor for market. Moreover, increase in research & development (R&D) activities and growth in automobile production are leading opportunities for market.
Based on regional analysis, the North-America is a leading region in global sebacic acid market owing to growth in expenditure on cosmetics and rise in usage in end-use industries for instance textiles, and automobiles industries across the region. The Europe and Asia-Pacific regions are expected to witness higher growth rate due to growth in public & private investment in infrastructure development and rise in disposable income over the forecast period. It is predicted that future of the global sebacic acid market will be bright as a result of growth in industrialization & urbanization during the forecast period.
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Ankur Gupta, Head Marketing & Communications