Growing demand for sebacic acid from cosmetics and automotive industry to drive the growth of global sebacic acid market during the forecast period
According to TechSci Research report, “Global Sebacic Acid Market By Source, By Application, By Region, Competition, Forecast & Opportunities, 2025”, the global sebacic acid market is expected to grow steadily over the forecast period on account of surging demand for biodegradable polymers because of their eco-friendly nature, favorable government regulations across the globe and rising demand from automotive sector. Moreover, sebacic acid finds its applications in number of fields, for instance, it can be used to produce engineering plastics, softeners and additives, solvents, antifreeze plasticizers, among others, which is anticipated to positively influence the growth of global sebacic acid market through 2025.
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Global sebacic acid market can be segmented based on source, application and region. Considering the source, the market is bifurcated into castor oil and adipic acid. The castor oil segment is estimated to contribute major revenue share to global sebacic acid market and record high growth during the next 5 years which can be attributed to its wide industrial application where it is used for manufacturing soap, cosmetics, paints, varnishes, lubricants adhesives, etc. Additionally, it is used to produce castor oil derivatives, which are used for industrial applications.
Acme-Hardesty, Ecogreen Oleochemicals, Henan Eastar Chemicals, Hangzhou Oleochemicals, IOI Oleochemicals, KLK OLEO, Majorhub Oleochemicals, P&G, Temix Oleo, Univar among others are the leading players operating in global sebacic acid market.
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“Asia-Pacific dominated the global sebacic acid market until 2019 and is forecast to maintain its dominance during the next 5 years as well on the account of rapid industrialization and urbanization, burgeoning population, coupled with strong economic growth. Moreover, increasing investments by public and private sectors for the development of industrial infrastructure for manufacturing of chemicals in emerging countries, such as China and India are boosting market’s regional growth. Furthermore, high growth of polymer manufacturing in China and Japan is projected to further spur the growth of global sebacic acid market through 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Sebacic Acid Market By Source, By Application, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global sebacic acid market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global Sebacic acid market.
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