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U.S. Sebacic Acid Market Size 2024 To Register Extensive Growth

Author : Ronak Bora | Published Date : 2019-07-01 

U.S. sebacic acid market size should witness significant growth at over 4%. It is used to manufacture various polyester resins which may stimulate industry growth in the region. Growing automotive sales along with stringent government regulations to reduce vehicle weight and curb carbon emission should fuel product demand.

The meteoric rise in sebacic acid market demand has been a subject of tremendous attention of late, given the recent announcement of world’s largest sebacic project in Duqm to start production by the end of 2017. Reportedly, the much acclaimed Sebacic Oman’s project is of humougous production capacity of 30000 tons. While the commercial operation of the project is already underway, the export process is claimed to commence from the begging of Q1, 2018.  Allegedly, the Omani and Indian investors have encouraged this fresh of the boat export oriented project with a capital investment of over USD 62 million. Undoubtedly, this is one of the biggest scoops that sebacic acid market space has witnessed over the recent times.

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A closer look to the deal – the Sebacic acid market giant is planning to export all its products to emerging countries like India and Japan, where the demand has observed a surge over the recent years. As per reliable sources, as of now, a larger fraction of the castor oil required for the sebacic acid product in the plant, is imported from India, while Sebacic Oman claims expects to convert the unit into a complete inhouse production over the next half a decade. 

The expansion in the application landscape of sebacic acid industry has been extensively driven by the so far progress in its production through the exploitation of the product properties pertaining to specific applications. Speaking of application portfolio, plasticizers is one of the profound spheres where sebacic acid market penetration has been incredible. With a deluge of beneficiary features such as better flexibility, lower melting temperature, hydrophobicity ductility, sebacate based plasticizers are gaining a prominence across myriad end use domains, particularly food industry. 

Of late, the biobased polymers are scoring a competitive advantage over petroleum based polymers subject to the ecological benefits of the former, one of the profound factors that has impelled sebacic acid market penetration. Estimates depict that majority of the bio based polyamides are derived from castor oil and sebacic being the key ingredient in castor oil based polymers has overtly proliferated the market share. The commercialization potential of the market is quite evident from the estimation by Global Market Insights, Inc., which forecasts the overall sebacic acid industry to surpass a valuation of USD 480 million by 2024.

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Regionally, China is claimed to be one of the most actively partaking nations in global sebacic acid industry. The regional growth of the market can be primarily attributed to two major factors- massive production capacity and lucrative export activities. Statistics gathered so far, further validates the aforementioned declaration. As of now, 95% of the global sebacic acid supply comes from China. Considering the extensive production capacity, investors are highly optimistic and are betting big on the regional sebacic acid industry, which is slated to surpass USD 80 million by 2024.

Worldwide, the industry is quite consolidated with the involvement of some of the leading names such as Hengshui Jinghua Chemical, Sebacic India, Casda Biomaterials, Shandong Siqiang Chemical, and Hokoku Corp.  Speaking of challenges that these giants are facing in the business sphere, lack of sustained profitability would be one to top the list. Since a while back, over the period 2010-2011, pricing trends of castor oil witnessed an upsurge, leaving a parallel impact on sebacic acid market trends.  

 

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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