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Undecylenic Acid Market Overview, Industry Growth, Regional Analysis and Research Report by 2023

Author : Rahul Sankrityayan | Published Date : 2019-03-29 

Global Market Insights, Inc. adds new Undecylenic Acid Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast. Global undecylenic acid market size was estimated at over USD 310 million and is likely to be valued more than USD 520 million by 2023, growing at a CAGR of over 5.8%.

Asia Pacific undecylenic acid market size was estimated at over 95 kilo tons and is likely to witness significant gains of over 4.5% by 2023.  Europe accounted for more than 20% of the total demand in 2015 and is likely to grow at CAGR of over 4.6% up to 2023.

Increasing application scope in pharmaceutical industry coupled with growing consumer awareness regarding renewable source ingredients is likely to drive undecylenic acid market growth over the forecast period. Numerous pharmaceutical formulations use undecylenic acid & its calcium & zinc salts ac active ingredients for anti-fungal properties for applications in fungal skin infections such as ringworm and athletes foot.

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FDA approval for medical applications is likely to favor undecylenic acid market growth over the forecast period. It is also used against candida infection and also relives irritation, itching and burning sensations on skin.

Abundant availability of castor oil derived from vegetable sources is likely to favor market growth. India dominated the castor oil production and accounts for over 60% of the total volume with over 900 kilo tons of capacity. China and Brazil account close to 20% & 10% respectively of the total production volume. Castor oil market growth and derivative production would play a significant role in industry evolution. Castor oil market size, including derivatives, is forecast to exceed USD 2 billion by 2023. Stable undecylenic acid market price trend, which would heavily depend on raw material supply, will be critical in application development.

Renewable sources are gaining a lot of industry importance as a substitute for petroleum in numerous applications such as personal care & cosmetics and polymers. There is consideration not only for future fossil fuel supplies but also due to environmental concerns. Vegetable oils are one of the cheapest sources of bio based raw materials with predominant mixture of triglycerides molecules.

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This acid derived from castor oil used as ingredient in numerous applications offers advantages such as low toxicity, high purity and inherent biodegradability. They can be used for polyol production which is a starting material along with icocynate for polyurethane (PU) production. Market volatility and enviornmental concerns are factors expected to push industry participants to derive sustainable feedstock with efforts to replace petroleum based polyols by vegetable based polyols. This factor is expected to provide industry participants with new growth opportunities.

This acid is used for nylon-11 production which offers good resistance to solvents and chemicals. Nylon-11 is termed as polyamide bioplastic derived from castor oil and is produced by Arkema & is marketed under tradename Rilsan. Nylon-11 has low enviornemnatal impact and offers superior thermal resistance. It is used for application such as pneumatic air brakes, automotive fuel lines, oil & gas flexible pipes, sport shoes, control fuel umbicals and electronic device components.

Nylon-11 is likely to witness moderate growth rates over the forecast period owing to high pricing which is between USD 9 to USD 13 per kilo and niche applications. Nylon-11 production capacity is estimated to around 6 kilo tons per annum.

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Undecylenic acid and derivatives are used for perfumery applications. For example, methyl undecylenate are used in lilac perfumes, ethyl undecylenate is used in rose perfume compositions, alkyl undecylenate is used as odor modifiers in floral banquets. Other undecylenic acid derivatives such as undecylenic aldehyde, undecylenic alcohol and undecalactone are also used for perfumery applications used in various compositions such as rose, lilac and jasmine.

They are also used as platform chemicals for manufacturing pelorganic acid & esters, macrocylic musk such as exaltolide, ethylene brassylate exaltone, cevolide and musk RI. These compound obtained are useful for applications such as fungicides, insect sprays and bactericides. They are also useful for agricultural applications.

The global undecylenic acid market share is fragmented and is characterized by cost competitiveness and service provided. Companies operating in this market include Jayant Agro Organics Ltd, Acme Synthetic Chemicals, Arkema, Shreei Pharma International, Triveni Interchem, A.B. Enterprises Nikunj Chemicals , Indo-Expo Oleochemicals Pvt Ltd.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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