According to a new research report by Global Market Insights Inc., the sebacic acid market is set to surpass USD 620 Million by 2026, growing at CAGR of 5.5%. By application, the lubricant segment will hold notable gains and grow over $180 billion by 2024
Sebacic acid is a dicarboxylic acid that occurs naturally and found in powdered crystal and white flake form which is derived from castor oil. Derivatives of this acid includes Dibutyl Sebacate, Diisopropyl sebacate, Dimethyl Sebacate, Disodium sebacate, and Dioctyl Sebacate. It has wide application as monomer in lubricants, textiles, cosmetics, candles and hydraulic fluids production. Moreover, this product is extensively used as a chemical intermediate in painting materials, antiseptics and aromatics manufacturing.
As per market forecast, growing adoption towards renewable and environmentally friendly products mainly polymers to reduce dependency on petrochemical based products and reduced environmental impacts should drive sebacic acid market size.
Favorable government initiatives & policies stimulating sebacic acid market size
According to market insights reports, sebacic acid market may witness significant gains at over forecasted timeframe due to implementation of supportive government initiatives. Rising investments by EU commission in large scale renewable energy and bio-based production of various products including polymers, fuels, lubricants, chemicals and materials. Initiatives including Horizon 2020 by EU commission funding biorefinery research & commercialization which aims to attain smart, sustainable & inclusive growth and jobs in the region should fuel overall sebacic acid market demand.
As per industry trends, sebacic acid is majorly used in production of bio-based polyamide which is also called as nylon. Bio based polymers made from sebacic acid as feedstock provides additional benefits of flexibility, durability, lower melting temperature and hydrophobicity which will fuel market demand. The governments are also providing subsidies and tax leisure for bio-based product formulations which will favor industry growth. Regulatory bodies including ECHA and REACH has classified sebacic acid as non-hazardous & nontoxic substance which makes its affordable and easy to trade between countries will further support the sebacic acid market growth.
Browse key industry insights spread across 170 pages with 109 market data tables and 42 figures & charts from the report, “Global Sebacic Acid Market Size By Application (Plasticizers, Lubricants, Solvents, Adhesives, Chemical Intermediates), Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Indonesia, Malaysia, Thailand, Australia, Brazil, Saudi Arabia, UAE, South Africa) Competitive Market Share & Forecast, 2015 – 2026” in detail along with the table of contents:
Rising utilization of sebacic acid in adhesives application to fuel market growth
According to market analysis and trends, sebacic acid from adhesives application is expected to grow at CAGR of over 4% from 2019 to 2026. Rise in product demand as a crosslinker agent in adhesives industry to achieve excellent flexibility and compression characteristics will favor market growth.
Polyester polyol obtained from sebacic acid provides better adhesive force as compared to adipic acid owing to higher cohesive energy. Rise in product demand to produce hot melt adhesives owing to its broad adhesion, excellent heat resistance and strong mechanical strength. Thus, these factors are majorly contributing to overall market growth.
Booming plasticizers products demand will fuel product demand across Asia Pacific
As per regional market analysis, growing automobile sector activities in the region should accelerate plasticizers market growth. Rising establishment of automotive manufacturing units in the region owing to supportive government initiatives including “Make in India” and “Made in China 2025” will accelerate plasticizers demand, thus fueling sebacic acid market growth. This product is predominantly utilized for plasticizers manufacturing owing to attain better ductility, flexibility, lower melting temperature, and hydrophobicity should boost market demand.
Key market participants in sebacic acid industry are Shanxi Zhengang Chemical, Wilmar, Swarnajyothi Agrotech & Power Ltd, Shandong Siqiang Chemical, Tokyo Chemical Industry, Shipra Agrichem, Hope Chemical, Arkema, Sebacic India Limited, Santa Cruz Biotechnology, KGN Enterprises Ltd, Zhengzhou Yibang Industry & Commerce Co, Tianxing Biotechnology, Tongliao Xinghe Biotechnology, BASF SE and Triveni Chemicals.
As per market analysis & trends, various market leaders are also practicing several strategies initiatives such as R&D investment for sebacic acid, new product launch, strategic mergers & acquisitions, partnerships and collaborations to gain significant market share.
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