Sebacic Acid Market size is forecast to reach $349.90 million by 2025, after growing at a CAGR of 3.89% during 2020-2025. Market growth of sebacic acid with a wide variety of uses and benefits is backed upon increasing demand for lubricants in automotive, aircraft, and truck engines as a corrosion inhibitor and as a coolant fluid. Sebacic acid is used in the form of sebacate esters to manufacture polyvinyl chloride films as it helps to provide properties such as crack resistance in the automotive industry, which is expected to drive the growth of the sebacic acid industry in the forecast period.Key Takeaways
APAC dominates the Sebacic Acid Market due to the increasing production of complex grease and lubricants as well as polyvinyl chloride materials.
Sebacic Acid and its derivatives such as azelaic acid have several industrial applications such as plasticizers, lubricants, hydraulic fluids, cosmetics, candles, and increasing use as an intermediate for aromatics, antiseptics, and painting materials. Owing to which the demand for sebacic acid will propel in the forecast period.
Increasing the use of Sebacic acid in the manufacturing of biodegradable plastics and nylon-6,10 polymer, which has major applications in textiles, automotive, and packaging industries will anticipate boosting the market in the forecast era.
Owing to the lockdowns to tackle the Covid-19 outbreak, exports of castor oil from India are suspended, with China facing problems in the production of sebacic acid and hampering the growth of the Sebacic Acid Market in 2020-2021.
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Application- Segment Analysis
Personal Care & Cosmetics held the largest share in the Sebacic Acid Market in 2019 and is projected to grow at a CAGR of 4.12% during the forecast period 2020-2025. Sebacic Acid is used as a pH corrector in cosmetics formulation. The sebacic acid is also widely used as a synthesis intermediate to produce sebacate esters which are used as an emollient, solvent, plasticizer, masking film-forming, hair, or skin conditioning. Sebacate esters are generally claimed to enable a good penetration, to give the skin a non-oily and silky feel.
Drivers –Sebacic Acid Market
Increasing Use in Lubricants and Greases
Increasing Use of Sebacic Acid in Plasticizer
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Sebacic Acid Market. Major players in the Sebacic Acid Marketare Arkema, Casda Biomaterials Co., Ltd, Croda Inc, Evonik Industry Ag, Hokoku Co., Ltd, Inolex, Krishna Solvent Chemical, Sebacic India Limited, Shanxi Zhengang Chemical Co , Ltd, Tianxing Biotechnology Co, Ltd., among others.
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