27-June-219: The global sebacic acid market size is projected
to reach USD 327.3 million by 2025, according to a new report by Grand View
Research, Inc. The global market is projected to register a CAGR of 3.7% during
the forecast period. Increasing demand for new and improved cosmetics and
rising demand for bio-degradable polymers in automotive, packaging, and other
industries is driving market. Sebacic acid is one of the most popular cosmetic
ingredients, as it is classified under non-hazardous chemicals and has multiple
properties to suit skin care products, such as sun-screens, foundations, and
concealers.
Rising demand for cosmetics and
increasing awareness about these products, mainly through social media, has led
to the growth of the sebacic acid market. Asia Pacific leads the global market
owing to increasing population and urbanization along with rapid
industrialization. The region is anticipated to maintain its dominance due to
affordable infrastructure and cheap labor. Asian countries like China and India
are among the leading exporters of the chemical. India, with its favorable
climatic conditions, is also one of the largest producers of castor seeds and
thus of its derivatives including sebacic acid.
In
depth research report on Sebacic Acid Market
Further
key findings from the study suggest:
· Global
sebacic acid volume is projected to reach nearly 40 kilo tons by 2025, with
growth driven by a positive outlook on end-use industries, such as lubricants,
cosmetics, and metal working
· In
terms of revenue, the cosmetics segment is projected to ascend at a CAGR of
4.1% from 2018 to 2025 due to escalating demand for personal care and hygiene
products
· Polymer
manufacturing led the application segment in 2017 and accounted for 28.5% of
the global revenue
· Some of
the prominent companies in the global sebacic acid market include Arkema, Inc.;
Hokoku Corp.; Sebacic India Ltd.; and Jayant Agro-Organics Ltd.
· Most of
these companies are targeting regional supremacy by entering into
collaborations with cosmetic and oil companies.
Grand View Research has
segmented the global sebacic acid market on the basis of application and
region:
Sebacic
Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
· Polymers
· Cosmetics
· Lubricants
· Others
(Metal Working Fluids, Paints & Coatings, etc.)
Browse
more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
No comments:
Post a Comment