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Sebacic Acid Market 2024 To Register Extensive Growth Via Lubricants & Plasticizers Applications

Author : Ronak Bora | Published Date : 2019-05-31 

Increasing application outlook in lubricants, plasticizers, adhesives, and solvents should drive sebacic acid market size. It is naturally occurring dicarboxylic acid which is found either in powdered or white flakes form. In addition, it is used as an intermediate for antiseptics, painting materials, and aromatics. Supportive government policies owing to non-hazardous properties under REACH regulations is likely to have a positive impact on industry growth.Sebacic Acid Market size is set to exceed USD 480 million at the end of 2024; according to a new research report by Global Market Insights, Inc.

Sebacic acid market size from lubricant applications is poised to surpass 30 kilo tons by 2024. It is used as a key feedstock to produce sebacate diesters which are preferably used in complexed lubricants and greases. Diesters are used as base oil for high performance lubricants including aerospace turbines, industrial hydraulics, automotive and compressor systems.

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Major raw material which includes castor oil is widely used for its manufacturing process with production facilities in China. Volatile castor seed cost is likely to have an impact on demand supply gap and affect sebacic acid market price trend. Increasing environmental concerns along with need for bio-based products to replace synthetic feedstocks should boost product demand.

Sebacic acid market from lubricants application is anticipated to grow over 4.5% in the end of 2024. It is used to produce chemical derivative sebacate diesters which has wide application scope in grease and complexed lubricants. These lubricants offer high performance, high heat resistance and fuel efficiency.

Essential feedstock for production is castor oil. Fluctuating castor oil seeds costs may challenge industry profitability and impact sebacic acid market price trend. However, increasing popularity of bio based polymers derived from renewable and natural sources such as castor oil over petroleum based polymer may act as major contributing factor towards sebacic acid industry growth.

Asia Pacific, led by China and India, sebacic acid market size, should surpass USD 180 million by 2024. Positive indicator in automotive sales accompanied with flourishing numerous end-use industries including, pharmaceuticals, textile, cosmetics owing to availability of low wage labor and raw materials may boost product demand in this region.

Sebacic acid from plasticizers application may witness strong gains at end of forecast timeframe. It is used as major raw material in polyamide manufacturing with addition properties including better ductility, flexibility, and hydrophobicity. Dibuty sebacate is approved in plastic used for pharmaceutical, medical device and food packaging thereby promoting industry growth.

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North America sebacic acid market may grow significantly over 4%. Growing use of nylon mainly in U.S. textile industry along with increasing demand in cosmetic formulation including hair & skin conditioning, sunscreens and masks due to low toxicity should drive regional growth. Castor oil derivative manufacturers in this region are engaged in capacity expansion along with entry of new players in this sector may act as another contributing factor towards industry growth.

Global sebacic acid market share is consolidated and competitive. Hokoku Corp, Casda Biomaterials, Hengshui Jinghua and Shandong Siqiang Chemicals are some of the major companies present in this industry.

 

Browse Full Report @ https://www.gminsights.com/industry-analysis/sebacic-acid-market

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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