The new report by Expert Market Research titled, ‘Global Sebacic Acid Market Growth, Size, Share, Scope, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global sebacic acid market, assessing the market based on its segments like source, application, end-use, and major regions such as Asia Pacific, Europe, North America, Middle East, and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 262 Million
- Forecast CAGR (2023-2028): 3%
- Forecast Market Size (2026): USD 313 Million
The growth of the global market for sebacic acid is being driven by its common use in the automotive and aerospace industry, owing to its excellent lubricity, low-temperature fluidity, high flash points, and high thermal stability. Moreover, the growth is expected to be augmented by stringent environmental policies, with a shift towards bio-lubricants from the traditional ones.
The products also find their use as an ingredient in low-temperature lubricants, at high altitudes. Additionally, rising investments in the automotive industry for the need of high-performance fuel-efficient vehicles are further, likely to propel the product demand. All these factors are providing rapid growth to the market.
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Industry Definition and Major Segments
Sebacic acid is a white flake or a powdered solid derived from castor oil and adipic acid. It is obtained using sulphuric acid via catalysts like phenol, zinc oxide, and sodium hydroxide. Major end-use industries which utilise sebacic acid in their process of production are lubricants, plasticisers, hydraulic fluids, candles, and cosmetics.
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Based on source, the industry can be segmented into:
- Castor Oil
- Adipic Acid
By application, the market is divided into:
- Chemical Intermediates
The market is divided based on end-use into:
The regional markets for home blood pressure monitoring devices include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Regionally, North America is likely to witness significant growth in the forecast period, owing to the rising living standards of consumers and increase in cosmetic spending propelled by a healthy presence of the supply chain.
Moreover, sebacic acid finds its extensive use in the chemical industry whose growth is expected to boost the product demand. By application, development, and use of bio-based polymers to minimise environmental impact is likely to accelerate the market growth in the plasticiser segment. Thus, increasing global use of polymers and plastics is expected to drive regional market growth.
Key Market Players
The major players in the market are Arkema Group, Hokoku Co., Ltd., Shipra Agrichem Pvt Ltd (SAPL), BASF SE, Wilmar International Ltd, and Sebacic India Limited among few others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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