Brassylic Acid Market Report
Brassylic Acid Market by Form (Flakes, Powder, and Diluted), Application (Polymers, Adhesives, Lubricants, Fragrance, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030
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Impact of covid-19 on Brassylic Acid Market
Brassylic Acid Market Analysis
The brassylic acid market is estimated to be valued at $90.4 million by 2030, surging from $61.3 million in 2021, at a noteworthy CAGR of 4.2%
Source: Research Dive Analysis
Rising application of brassylic acid in various fields like fragrance and nylon manufacturing industries is expected to drive the brassylic acid market revenue growth in the forecast time period. Brassylic acid is derived from ozonolysis of erucic acid and contains dicarboxylic functional group. Due to this, brassylic acid has many important characteristics such as high solubility in water, provides strength, and resistance to the products. Therefore, brassylic acid is largely used for the manufacturing of fragrance, nylon, polymers, adhesives, and lubricants.
However, high prices of the brassylic acid is likely to hinder the market growth. Also, in some cases, brassylic acid, in fragrance, may cause some irritation and itchiness on skin of people. These factors are projected to decline the market growth in the future.
According to the regional analysis of the market, the Asia-Pacific brassylic acid market is anticipated to grow at a CAGR of 5.1%, by generating a revenue of $17.9 million during the review period. The brassylic acid market in Asia-Pacific region is expected to increase in the forecast time period owing to rapid industrialization in the region and growing demand for brassylic acid as a raw material in industries like chemical industry.
Brassylic Acid Overview
Brassylic acid is a dicarboxylic acid with 13 carbon atoms, occurring in plant and animal tissues. Brassylic acid exhibits carboxyl group, which is useful in variety of applications such as fragrances, adhesives, plastics, and lubricants. Brassylic acid is highly soluble in water and is used for manufacturing plasticizer for polymers, lubricants, and perfumeries.
Impact Analysis of COVID-19 on the Brassylic Acid Market
Brassylic acid market experienced a negative market share growth in the COVID-19 pandemic period. Amid rising cases of corona virus and prevalence of deadly symptoms among patients such as respiratory diseases, the rate of death also increased. Due to such high infection cases and growing complication in patients, the government had declared complete lockdown and banned public gathering at any place. Thus, many industries like cosmetic, fragrance & perfume, automobile, and chemical industries were completely stopped due to which the demand for brassylic acid decreased tremendously. As brassylic acid is majorly used in fragrance industries and polymer industries, the supply and demand for brassylic acid were highly hampered. Such factors are likely to impede brassylic acid market growth in the pandemic time period.
Growing Application of Brassylic Acid likely to Drive the Market Growth
Shifting preferences from use of polycyclic acid towards use of brassylic acid for synthesis of perfumes is a key factor expected to provide lucrative opportunities for brassylic acid market during the forecast period. For instance, according to press release of the “International Fragrance Association,” 2019, sales generated by fragrance industry collectively in regions like Europe, MEA, and Latin America were valued at US$ 8.03 billion in 2017. Therefore, growing perfume and fragrance industry globally is expected to proper demand for brassylic acid during the forecast period.
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High cost of Brassylic Acid to Restrain the Market
High cost of brassylic acid is likely to impede the brassylic acid market share growth in the next few years. Brassylic acid is very expensive because it is extracted from erucic acid through the process of ozonolysis and the process is time consuming & expensive. Such factors are likely to lead to a negative growth in the coming years.
Rapid Expansion of Automobile and Other Industries are Likely to Flourish Market Growth
Brassylic acid is widely used in the manufacturing of adhesives and lubricants. These adhesives and lubricants are majorly applied on machine joints for its smooth functioning. Thus, as the industries like petroleum and oil & gas industries increase in number, the number of machines also increases. This factor has accelerated the demand for brassylic acid and projected to accelerate the brassylic acid market growth in the coming years.
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Brassylic Acid Market, by Form
Based on form, the market has been divided into flakes, powder, and diluted sub-segments of which the powder sub-segment is projected to generate the maximum revenue and show the fastest growth.
Brassylic Acid Market Share, By Form, 2021
Source: Research Dive Analysis
The powder sub-segment is predicted to have a dominating market revenue in the global market and register a revenue of $59.3 million during the forecast period. This growth is projected due to increased demand for powdered brassylic acid for application in the manufacturing of nylon, fragrance, and lubricants. Powder form of brassylic acid can be easily stored and transported from one place to another. Also, the form can be used to prepare brassylic acid solutions of various different dilutions. Apart from this, brassylic acid in powder form does not spoil easily. Such factors are anticipated to generate huge brassylic acid market share revenues in the next few years.
Brassylic Acid Market, by Application
Based on the application, the market is divided into polymers, adhesives, lubricants, fragrance, and others. Among the mentioned sub-segments, the fragrance sub-segment is predicted to show the dominating market share and polymers is projected to garner the fastest market growth.
Brassylic Acid Market Share, By Application, 2021 and 2030
Source: Research Dive Analysis
The polymers sub-segment of market is projected to have the fastest growth and it is projected to surpass $21.4 million by 2030. The sub-segment growth is attributed to extensive use of brassylic acid in the polymer industry, especially for the manufacturing of nylon. Brassylic acid provides an exclusive range of physical and chemical properties including resistance and abrasion. Also, brassylic acid is highly soluble in water which further makes it a perfect choice for use in chemical and polymer industries.
Brassylic Acid Market, Regional Insights
The brassylic acid market was investigated across North America, Europe, Asia-Pacific, and LAMEA.
Brassylic Acid Market Share & Forecast, By Region, 2021-2030 ($Million)
Source: Research Dive Analysis
The Market for Brassylic Acid in Europe to be the Most Dominant
The brassylic acid market in the Europe region is projected to witness dominating share. This market generated a revenue of $24.3 million in 2021 and is further projected to reach up to $35.4 million by 2030. The regional growth is attributed to the presence of well-established fragrance industries in the countries like France and Spain. Brassylic acid is largely used in the manufacturing of fragrances and perfume. Also, high concentration of automobile industries in countries such as Germany and the U.K is anticipated to have a positive impact on brassylic acid market size growth in the predicted time period. Brassylic acid is also used in the manufacturing of adhesives and lubricants and these products are extensively used in the automobile industry for greasing purposes.
Competitive Scenario in the Brassylic Acid Market
Product launches and acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
The companies involved in the brassylic acid market are Cathay Industrial Biotech, Palmary Chemical, Unisource Chemicals Pvt. Ltd., Zibo Guangtong Chemical Co., Ltd., Beyo Chemical Co., Ltd, Larodan Ab, Evonik Industries, Nantong Senos Biotechnology Co., Ltd., Shanghai Kaleys Holding Co., Ltd.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Form
Segmentation by Application
Key Companies Profiled
Q1. What is the size of the brassylic acid market?
A. The global brassylic acid market was valued at $61.3 million in 2021 and is expected to reach $90.4 million in 2022-2030 time period, at a healthy CAGR of 4.2%
Q2. Which are the major companies in the market?
A. Cathy Industrial Biotech and Palmary Chemicals are some of the prominent companies in the market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Asia-Pacific brassylic acid market?
A. The share of Asia-Pacific market is anticipated to grow at a CAGR of 5.1%.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
1.5.Market size estimation
2.2.Key objectives of the study
2.5.Overview of the impact of COVID-19 on global brassylic acid market
4.2.Growth impact forces
4.3.Market value chain analysis
4.3.1.List of raw material suppliers
4.3.2.List of manufacturers
4.3.3.List of distributors
4.4.Innovation & sustainability matrices
4.5.Porter’s five forces analysis
4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity
4.7.Impact of COVID-19 on brassylic acid market
4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario
5.Brassylic acid Market, by Type
5.1.1.Market size and forecast, by Type
5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region, 2022-2030
5.2.3.Market share analysis, by country 2022 & 2030
5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region, 2022-2030
5.3.3.Market share analysis, by country 2022 & 2030
5.4.1.Key market trends, growth factors, and opportunities
5.4.2.Market size and forecast, by region, 2022-2030
5.4.3.Market share analysis, by country 2022 & 2030
5.5.Research Dive Exclusive Insights
6.Brassylic acid Market, by Application
6.1.1.Market size and forecast, by Application
6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, by region, 2022-2030
6.2.3.Market share analysis, by country 2022 & 2030
6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, by region, 2022-2030
6.3.3.Market share analysis, by country 2022 & 2030
6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, by region, 2022-2030
6.4.3.Market share analysis, by country 2022 & 2030
6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, by region, 2022-2030
6.5.3.Market share analysis, by country 2022 & 2030
6.6.Research Dive Exclusive Insights
7.Brassylic acid Market, by Region
188.8.131.52.Market size analysis, by Type
184.108.40.206.Market size analysis, by Application
220.127.116.11.Market size analysis, by Type
18.104.22.168.Market size analysis, by Application
22.214.171.124.Market size analysis, by Type
126.96.36.199.Market size analysis, by Application
7.1.4.Research Dive Exclusive Insights
188.8.131.52.Market size analysis, by Type
184.108.40.206.Market size analysis, by Application
220.127.116.11.Market size analysis, by Type
18.104.22.168.Market size analysis, by Application
22.214.171.124.Market size analysis, by Type
126.96.36.199.Market size analysis, by Application
188.8.131.52.Market size analysis, by Type
184.108.40.206.Market size analysis, by Application
220.127.116.11.Market size analysis, by Type
18.104.22.168.Market size analysis, by Application
7.2.6.Rest of Europe
22.214.171.124.Market size analysis, by Type
126.96.36.199.Market size analysis, by Application
7.2.7.Research Dive Exclusive Insights
188.8.131.52.Market size analysis, by Type
184.108.40.206.Market size analysis, by Application
220.127.116.11.Market size analysis, by Type
18.104.22.168.Market size analysis, by Application
22.214.171.124.Market size analysis, by Type
126.96.36.199.Market size analysis, by Application
188.8.131.52.Market size analysis, by Type
184.108.40.206.Market size analysis, by Application
220.127.116.11.Market size analysis, by Type
18.104.22.168.Market size analysis, by Application
7.3.6.Rest of Asia Pacific
22.214.171.124.Market size analysis, by Type
126.96.36.199.Market size analysis, by Application
7.3.7.Research Dive Exclusive Insights
188.8.131.52.Market size analysis, by Type
184.108.40.206.Market size analysis, by Application
220.127.116.11.Market size analysis, by Type
18.104.22.168.Market size analysis, by Application
22.214.171.124.Market size analysis, by Type
126.96.36.199.Market size analysis, by Application
188.8.131.52.Market size analysis, by Type
184.108.40.206.Market size analysis, by Application
7.4.5.Rest of LAMEA
220.127.116.11.Market size analysis, by Type
18.104.22.168.Market size analysis, by Application
7.4.6.Research Dive Exclusive Insights
8.1.Top winning strategies, 2021
8.3.Market share analysis, 2021
9.1.Cathay Industrial Biotech
9.3.Zibo Guangtong Chemical Co
9.4.Beyo Chemical Co.
9.7.Nantong Senos Biotechnology Co., Ltd.
9.8.Shanghai Kaleys Holding Co., Ltd
10.1.Parent & peer market analysis
10.2.Premium insights from industry experts
Brassylic acid is a versatile chemical intermediate that is primarily used for the synthesis of fragrances and a potential alternative for polycyclic acid as it is an easily degradable chemical compound. Polycyclic mush like Phantolide faces few challenges as they are not environmentally friendly. Therefore, brassylic acid is used for synthesis of macrocyclic musk.
Growth of perfume and fragrance industry, emerging applications of brassylic acid such as PVC & plasticizers, and increasing use of renewable feedstock is expected to boost the growth of the brasssylic acid market. Therefore, increasing applications of brassylic acid in plastics, lubricants and adhesive industry, is expected to fuel the demand of brassylic acid throughout the forecast period.
COVID-19 Impact on Brassylic Acid Market
The outbreak of COVID-19 across the globe has unfavorably impacted the global brassylic acid market growth. The negative impact on the market is mainly owing to the lockdown imposed by governments across the globe, leading to the shutting down of many industries like automobile, fragrance & perfume, cosmetic, automobile, and chemical industries. Thus, the demand for brassylic acid decreased tremendously as brassylic acid is majorly used in polymer and fragrance industries. Besides, the restrictions on import & export and the closing down of national borders highly hampered the supply and demand for brassylic acid.
Brassylic Acid Market Trends and Developments
The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global brassylic acid market growth in the upcoming years.
For instance, in February 2020, Evonik Industries, the leading specialty chemicals company, completed the acquisition of the US company, ‘PeroxyChem’ for around USD 640 million after the Washington D.C.’s responsible court dismissed the lawsuit filed by the FTC (Federal Trade Commission) to block the acquisition. According to Evonik, this acquisition unlocks additional growth opportunities for the company, especially in the market for environmentally friendly disinfectants.
In July 2020, an ABF ingredients company, ABITEC Corporation completed the acquisition of Larodon AB, a Sweden-based brassylic acid market player and the manufacturer of high-purity research grade lipids. The aim behind this acquisition is to strengthen the presence of ABITEC in the market with the help of Larodan’s advanced technologies & innovative breakthroughs.
Forecast Analysis of Global Market
The global brassylic acid market is projected to witness an exponential growth over the forecast period, owing to the wide usage of brassylic acid in the manufacturing of lubricants & adhesives along with the rapid expansion of automobile and other industries across the globe. Conversely, the high cost of brassylic acid is expected to hamper the market growth in the projected timeframe.
The shifting preferences from using polycyclic acid towards using brassylic acid for synthesis of perfumes and the rising application of brassylic acid in several fields like nylon and fragrance manufacturing industries are the significant factors and brassylic acid market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global brassylic acid market is expected to garner $90.4 million during the forecast period (2022-2030). Geographically, the Europe region of the brassylic acid market is estimated to be most dominant by 2030, owing to the rising demand for brassylic acid from perfume and fragrance manufacturers and the presence of well-established fragrance industries in the countries like Spain and France. In addition, the consumption of brassylic acid is highest in Europe owing to increasing availability of renewable raw material sources such as vegetable oil.
The key players functioning in the global market include Cathay Industrial Biotech, Unisource Chemicals Pvt. Ltd., Palmary Chemical, Zibo Guangtong Chemical Co., Ltd., Larodan Ab, Beyo Chemical Co., Ltd, Evonik Industries, Shanghai Kaleys Holding Co., Ltd., and Nantong Senos Biotechnology Co., Ltd.
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