The global sebacic acid market is expected to gain impetus from its increasing usage in the manufacturing of polymers, wax candles, plastics, and other intermediates. This information is given by Fortune Business Insights™ in an upcoming report,” The report further mentions that sebacic acid is extensively used to produce salt derivatives for applications in lubricants, as well as in cosmetics as a pH buffer.
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Highlights of the Report:
- In-depth details about the competitive landscape of the market.
- Elaborate information about the strategies followed by companies.
- Historical, current, and forecasted sizes of the market for sebacic acid.
- Profiles of the reputed companies present in the market and their revenues.
Drivers & Restraints-
Rising Demand for Nylon to Accelerate Market Growth
Sebacic acid, also known as decanedioic acid is a white-colored, flaky, powdered, and non-hazardous substance. It is mainly obtained by splitting castor oil and then by infusing it with caustic soda. It is slightly soluble in water and has a mild odor. It is used for the manufacturing of nylon owing to its low-cost and bio-based properties. The rising demand for nylon stoked by the increasing production of textiles and fibers is set to propel the sebacic acid market growth during the forecast period. However, the high demand for castor seeds for the manufacturing of biodiesel and the fluctuating costs of raw materials may hinder the market growth.
Regional Analysis-
Rapid Industrialization to Drive Growth in Latin America
Geographically, the market is segregated into Europe, North America, Asia Pacific, the Middle East & Africa, and Latin America. Amongst them, Asia Pacific is expected to dominate in terms of sebacic acid market share throughout the forthcoming years. This growth is attributable to the major contribution of China as it is the largest producer of nylon and other associated polymers.
In North America, on the other hand, the U.S. is experiencing high demand for sebacic acid from the polymer and lubricant manufacturers. Europe is set to grow subpar growth in the coming years. The Middle East & Africa would exhibit significant growth backed by the expansion of the cosmetics manufacturing industry in the region. Lastly, Latin America would grow steadily owing to the rapid industrialization and the enhancements of economic conditions in the region.
Competitive Landscape-
Key Players Focus on Building New Plants to Gain a Competitive Edge
The market for sebacic acid is highly fragmented with the presence of a large number of companies across the globe. They are striving persistently to gain a competitive edge by constructing new plants. This way, they will be able to gain more consumer bases. Below is one of the most recent industry developments:
- February 2019: Sebacic Oman Refinery entered the production stage of sebacic acid after completing the preliminary tests successfully. The refinery is set to be the first industrial project to operate in the Special Economic Zone in Duqm (SEZD). The sebacic acid produced here will be further sold to the company’s clients from the pharmaceutical, plastics, and chemical industries. The company is a joint venture between investors from India and the Sultanate.
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Fortune Business Insights™ lists out the names of all the sebacic acid producers operating in the global market. They are as follows:
- Inolex Inc.
- Shandong Siqiang Chemical Group Co., Ltd.
- Tongliao Xinghe Biotechnology Co., Ltd.
- Tokyo Chemical Industry Co., Ltd.
- Zhengzhou Yibang Industry & Commerce Co., Ltd.
- Santa Cruz Biotechnology, Inc.
- Hokoku Corporation
- Sebacic India Limited
- Silver Fern Chemical Inc.
- Corvay Specialty Chemicals GmbH
- Shipra Agrichem Pvt. Ltd.
- Banner Chemicals Limited
- Arkema S.A.
- Other key market players
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