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Synthetic Camphor Market Report

RA00343

Synthetic Camphor Market, by Grades (Pharma Grade and Technical Grade), Application (Pharmaceutical, Personal Care, Plasticizer, Paints & Coatings, Flavor & Fragrances, and Others), Regional Analysis (North America, Europe, Asia Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2027

RA00343

Pages: 120

Aug 2020

COVID-19

pandemic has shown to have an enormous impact on most
industries.

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Impact of covid-19 on Synthetic Camphor Market

 The global synthetic camphor market is expected to generate a revenue of $448.1 million by 2027, increasing from $367.0 million in 2019 at a healthy CAGR of 5.9%. LAMEA synthetic camphor market is anticipated to grow at a healthy CAGR of 7.5% by generating a revenue of $88.3 million during the forecast period. Increasing production of paints & coatings in parts of Brazil, along with growing construction activities, is expected to enhance the growth of the LAMEA market.

Synthetic Camphor Market Analysis:

Synthetic camphor is obtained from Alpha-Pinene and then it is converted into camphene by esterification of bornyl acetate. It is a white crystalline chemical substance with strong mothball like odor and a chemically inactive substance. Rising utilization of over the counter (OTC) drugs that are used to treat nasal congestion and other arthritis-related problems has increased the demand of global synthetic camphor. Besides, the utilization of synthetic camphor for the manufacturing of plastic products and ingredients in smokeless powder has impacted positively on the market growth.

Increasing utilization of pharma-grade synthetic camphor is anticipated to drive the global synthetic camphor market

Pharma grade synthetic camphor is used in the production of OTC drugs owing to its antibacterial and antifungal properties. OTC drugs are approved by the FDA and used to treat minor cold, cough, nasal congestion, and joint pain. For instance, there are several OTC drugs such as Vaporex and Apanol Alcanfor that contain 10% of camphor and are used to reduce muscle cramps, back pain, and joint pain. Besides, it is also used in hair care products to reduce hair fall and kill head lice owing to its anti-microbial property. Synthetic camphor in skincare products is beneficial as it reduces skin redness, rashes, and improves the appearance of skin by imparting numbness to the nerve endings of skin. These factors are predicted to fuel the growth of the global synthetic camphor market in the forecast period.

To know more about Synthetic Camphor Market Drivers, get in touch with our analysts here.

Fluctuations in the price of raw materials used for the production of synthetic camphor is anticipated to restrain the global synthetic camphor market

Synthetic camphor is produced mainly using turpentine oil. In recent days, the raw material price has been increasing due to which many of the small scale manufacturers have had to step out of the market. In addition, side effects such as skin irritation can be caused due to the utilization of synthetic camphor in undiluted form. These factors are predicted to hamper market growth in the predicted period.

Increasing demand of pharmaceutical industry is anticipated to prove an opportunity for the global synthetic camphor market

The pharmaceutical industry is rising due to the increase in medical complications. Increasing utilization of synthetic camphor to treat respiratory disorders, mild joint pains caused due to arthritis, and mild cold and cough have fueled the use of synthetic camphor in the pharmaceutical industry. Thus, rise in the pharmaceutical end-use industry is foreseen to act as an opportunity in the global market.

To know more about Synthetic Camphor Market Opportunities, get in touch with our analysts here.

Synthetic Camphor Market, by Grade:

Technical grade segment is anticipated to generate a revenue of $76.9 million by 2027, mainly due to utilization in the manufacturing of plastic products and other industrial applications

Synthetic Camphor Market, by Grade

Source: Research Dive Analysis

Technical grade has the highest market share and this grade is projected to generate a revenue of $76.9 million by 2026, rising from $60.9 million in 2019 at a CAGR of 6.5%. Synthetic camphor is used in various industrial applications such as flavor & fragrance, plasticizer, and paint & coating industry. Synthetic Camphor is used as a plasticizer owing to its ability to increase fluidity and workability of polymers. This aspect is expected to drive the growth of the technical grade segment in the global market.

 

Synthetic Camphor Market, by Application:

Flavor & fragrance application segment will have significant market share in the global market

Synthetic Camphor Market, by Application

Source: Research Dive Analysis

Synthetic camphor is used in the flavor & fragrance industry to enhance taste and improve aroma of food and other products. It is used in various sweets and desserts to improve taste and it is also used as a flavor enhancer in beetle plant leaves along with other products. For example, according to the Historical Dictionary of Indian Food, synthetic camphor is utilized to enhance flavor in pickles and curd rice dishes in parts of Gujarat. Besides, edible camphor also known as synthetic camphor and is used to enhance flavor in sweet rice along with milk, bay leaves, and black pepper in parts of India, especially in south India.

Regional Insights:

LAMEA region has a lucrative market growth and it will reach up to $88.3 million by the end of 2027

LAMEA region synthetic camphor market share is anticipated to rise at a CAGR of 7.5% by generating a revenue of $88.3 million by 2027. LAMEA region is leading manufacturers of paint & coating industry. Synthetic camphor is mainly manufactured from turpentine oil. Turpentine oil is used primarily in paints, varnishes, and paint thinner. An increase in the production of paints & coatings has impacted positively on the use of synthetic camphor in the LAMEA region.

Asia-Pacific region dominated the market share in the year 2019 and is anticipated to follow the trend until the end of the forecast period.

The synthetic camphor market in the Asia-Pacific region is predicted to generate a revenue of $128.9 million in 2027 at a CAGR of 4.9%. Asia-Pacific region governed the market share in the year 2018 and is expected to continue its dominance until the end of the forecast period owing to the high production rate of synthetic camphor. Synthetic camphor being manufactured from indigenous trees in parts of Japan and the presence of indigenous trees has enhanced the production capacity of synthetic camphor.

Competitive Scenario in the Global Synthetic Camphor Market:

Mergers & acquisitions, along with advanced product development are the frequent strategies followed by the leading market players

Competitive Scenario in the Global Synthetic Camphor Market

Source: Research Dive Analysis

Key players in the synthetic camphor market includes Kanchi Karpooram Limited, Mangalam Organics Limited, Oriental Aromatics Limited, Aldon Corporation, Saptagir Camphor Limited, Nagase & Co. Ltd., Skyrun Industrial Co. Ltd., Spectrum Laboratory Products Inc., Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd., Taiwan Tekho Camphor Co. Ltd., and others. Synthetic camphor market players are emphasizing on business expansion, merger, and agreement developments. These are the frequent strategies followed by the established organizations, for instance, recently, Mangalam Organic Limited entered into an alliance agreement with Les Derives Resiniques to enhance global footprint and strengthen its product portfolio.

Porter’s Five Forces Analysis for Synthetic Camphor market:

  • Bargaining Power of Suppliers: Synthetic camphor is used in healthcare industry in OTC drugs. Thus demand of the synthetic camphor is high due to demand in healthcare industry. Moreover, the switching barrier from one supplier to the other supplier is predicted to be high.

The bargaining power of suppliers is HIGH.

  • Bargaining Power of Buyer: Due to low switching cost and high product quality healthcare industry prefer to utilize synthetic camphor in treatment of respiratory disorder. Moreover, it is used as plasticizer and in paint & coating industry.  

The bargaining power of the buyer is MODERATE.

  • Threat of New Entrants: Government regulatory policies coupled with higher cost associated with R&D offer moderate threat of entry from new competitors.

The threat of new entrants is MODERATE.

  • Threat of Substitutes: The threat of the alternative product is moderate due to moderate brand loyalty and high price of the product.

The threat of substitutes is MODERATE.

  • Competitive Rivalry in the Market: Synthetic camphor market has high number of large, small, and medium manufacturing companies. Market players are mainly following technological advancements, partnerships, and business expansion strategies to sustain tough competition; this is also a key factor for high competitive rivalry in the global synthetic camphor market.

The competitive rivalry in the industry is HIGH.

 

Aspect

Particulars

Historical Market Estimations

2019-2020

Base Year for Market Estimation

2019

Forecast timeline for Market Projection

2019-2027

Geographical Scope

North America, Europe, Asia-Pacific, LAMEA

Segmentation by Grade

  • Technical grade
  • Pharma grade

Segmentation by Application

  • Pharmaceuticals
  • Personal Care
  • Plasticizer
  • Paints & Coatings
  • Flavor & Fragrances
  • Others

Key Countries Covered

U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, China, Japan, India, Australia, South Korea, Rest of Asia-Pacific, Brazil, Saudi Arabia, United Arab Emirates, Rest of LAMEA

Key Companies Profiled

  • Kanchi Karpooram Limited
  • Mangalam Organics Limited
  • Saptagir Camphor Limited
  • Oriental Aromatics Limited
  • Aldon Corporation
  • Nagase & Co. Ltd.
  • Skyrun Industrial Co. Ltd.
  • Spectrum Laboratory Products Inc.
  • Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd.
  • Taiwan Tekho Camphor Co. Ltd.
  • Others

  


FREQUENTLY ASKED QUESTIONS?
 

A. The global Synthetic camphor market size was $367.0million in 2019 and is projected to reach $448.1 million by 2027.

A. Kanchi Karpooram Limited, Mangalam Organics Limited, and Oriental Aromatics Limited are some of the key players in the global Synthetic Camphor Market.

A. The LAMEA region possesses great investment opportunities for the investors to witness the most promising growth in the future.

A. The Asia-Pacific market for Synthetic Camphor Market is anticipated to grow at 4.9% CAGR during the forecast period.

A. Business expansion, agreement, and merger are the key strategies opted by the operating companies in this market.

1.    Research Methodology

1.1.    Desk Research
1.2.    Real time insights and validation
1.3.    Forecast model
1.4.    Assumptions and forecast parameters

1.4.1.    Assumptions
1.4.2.    Forecast parameters

1.5.    Data sources

1.5.1.    Primary
1.5.2.    Secondary

2.    Executive Summary

2.1.    360° summary
2.2.    Grade trends
2.3.    Application trends

3.    Market Overview

3.1.    Market segmentation & definitions
3.2.    Key takeaways

3.2.1.    Top investment pockets
3.2.2.    Top winning strategies

3.3.    Porter’s five forces analysis

3.3.1.    Bargaining power of consumers
3.3.2.    Bargaining power of suppliers
3.3.3.    Threat of new entrants
3.3.4.    Threat of substitutes
3.3.5.    Competitive rivalry in the market

3.4.    Market dynamics

3.4.1.    Drivers
3.4.2.    Restraints
3.4.3.    Opportunities

3.5.    Technology landscape
3.6.    Regulatory landscape
3.7.    Patent landscape
3.8.    Pricing overview

3.8.1.    By Grade
3.8.2.    By Application

3.9.    Market value chain analysis

3.9.1.    Stress point analysis
3.9.2.    Raw material analysis
3.9.3.    Manufacturing process
3.9.4.    Distribution channel analysis
3.9.5.    Operating vendors

3.9.5.1.    Raw material suppliers
3.9.5.2.    Product manufacturers
3.9.5.3.    Product distributors

3.10.    Strategic overview

4.    Synthetic Camphor Market, by Grade

4.1.    Pharma Grade

4.1.1.    Market size and forecast, by region, 2019-2027
4.1.2.    Comparative market share analysis, 2019 & 2027

4.2.    Synthetic Grade

4.2.1.    Market size and forecast, by region, 2019-2027
4.2.2.    Comparative market share analysis, 2019 & 2027

5.    Synthetic Camphor Market, by application

5.1.    Pharmaceuticals

5.1.1.    Market size and forecast, by region, 2019-2027
5.1.2.    Comparative market share analysis, 2019 & 2027

5.2.    Personal Care

5.2.1.    Market size and forecast, by region, 2019-2027
5.2.2.    Comparative market share analysis, 2019 & 2027

5.3.    Plasticizer

5.3.1.    Market size and forecast, by region, 2019-2027
5.3.2.    Comparative market share analysis, 2019 & 2027

5.4.    Paints & Coatings

5.4.1.    Market size and forecast, by region, 2019-2027
5.4.2.    Comparative market share analysis, 2019 & 2027

5.5.    Flavor & Fragrances

5.5.1.    Market size and forecast, by region, 2019-2027
5.5.2.    Comparative market share analysis, 2019 & 2027

5.6.    Others

5.6.1.    Market size and forecast, by region, 2019-2027
5.6.2.    Comparative market share analysis, 2019 & 2027

6.    Synthetic Camphor Market, by region

6.1.    North America

6.1.1.    Market size and forecast, by grades, 2019-2027
6.1.2.    Market size and forecast, by application, 2019-2027
6.1.3.    Market size and forecast, by country, 2019-2027
6.1.4.    Comparative market share analysis, 2019 & 2027
6.1.5.    U.S.

6.1.5.1.    Market size and forecast, by grades, 2019-2027
6.1.5.2.    Market size and forecast, by application, 2019-2027
6.1.5.3.    Comparative market share analysis, 2019 & 2027

6.1.6.    Canada

6.1.6.1.    Market size and forecast, by grades, 2019-2027
6.1.6.2.    Market size and forecast, by application, 2019-2027
6.1.6.3.    Comparative market share analysis, 2019 & 20276.1.7.    Mexico
6.1.7.1.    Market size and forecast, by grades, 2019-2027
6.1.7.2.    Market size and forecast, by application, 2019-2027
6.1.7.3.    Comparative market share analysis, 2019 & 2027

6.2.    Europe

6.2.1.    Market size and forecast, by grades, 2019-2027
6.2.2.    Market size and forecast, by application, 2019-2027
6.2.3.    Market size and forecast, by country, 2019-2027
6.2.4.    Comparative market share analysis, 2019 & 2027
6.2.5.    Germany 

6.2.5.1.    Market size and forecast, by grades, 2019-2027
6.2.5.2.    Market size and forecast, by application, 2019-2027
6.2.5.3.    Comparative market share analysis, 2019 & 2027

6.2.6.    UK

6.2.6.1.    Market size and forecast, by grades, 2019-2027
6.2.6.2.    Market size and forecast, by application, 2019-2027
6.2.6.3.    Comparative market share analysis, 2019 & 2027

6.2.7.    France

6.2.7.1.    Market size and forecast, by grades, 2019-2027
6.2.7.2.    Market size and forecast, by application, 2019-2027
6.2.7.3.    Comparative market share analysis, 2019 & 2027

6.2.8.    Spain

6.2.8.1.    Market size and forecast, by grades, 2019-2027
6.2.8.2.    Market size and forecast, by application, 2019-2027
6.2.8.3.    Comparative market share analysis, 2019 & 2027

6.2.9.    Italy 

6.2.9.1.    Market size and forecast, by grades, 2019-2027
6.2.9.2.    Market size and forecast, by application, 2019-2027
6.2.9.3.    Comparative market share analysis, 2019 & 2027

6.2.10.    Rest of Europe

6.2.10.1.    Market size and forecast, by grades, 2019-2027
6.2.10.2.    Market size and forecast, by application, 2019-2027
6.2.10.3.    Comparative market share analysis, 2019 & 2027

6.3.    Asia Pacific

6.3.1.    Market size and forecast, by grades, 2019-2027
6.3.2.    Market size and forecast, by application, 2019-2027
6.3.3.    Market size and forecast, by country, 2019-2027
6.3.4.    Comparative market share analysis, 2019 & 2027
6.3.5.    China

6.3.5.1.    Market size and forecast, by grades, 2019-2027
6.3.5.2.    Market size and forecast, by application, 2019-2027
6.3.5.3.    Comparative market share analysis, 2019 & 2027

6.3.6.    India 

6.3.6.1.    Market size and forecast, by grades, 2019-2027
6.3.6.2.    Market size and forecast, by application, 2019-2027
6.3.6.3.    Comparative market share analysis, 2019 & 2027

6.3.7.    Australia 

6.3.7.1.    Market size and forecast, by grades, 2019-2027
6.3.7.2.    Market size and forecast, by application, 2019-2027
6.3.7.3.    Comparative market share analysis, 2019 & 2027

6.3.8.    Rest of Asia Pacific

6.3.8.1.    Market size and forecast, by grades, 2019-2027
6.3.8.2.    Market size and forecast, by application, 2019-2027
6.3.8.3.    Comparative market share analysis, 2019 & 2027

6.4.    LAMEA

6.4.1.    Market size and forecast, by grades, 2019-2027
6.4.2.    Market size and forecast, by application, 2019-2027
6.4.3.    Market size and forecast, by country, 2019-2027
6.4.4.    Comparative market share analysis, 2019 & 2027
6.4.5.    Latin America 

6.4.5.1.    Market size and forecast, by grades, 2019-2027
6.4.5.2.    Market size and forecast, by application, 2019-2027
6.4.5.3.    Comparative market share analysis, 2019 & 2027

6.4.6.    Middle East 

6.4.6.1.    Market size and forecast, by grades, 2019-2027
6.4.6.2.    Market size and forecast, by application, 2019-2027
6.4.6.3.    Comparative market share analysis, 2019 & 2027

6.4.7.    Africa

6.4.7.1.    Market size and forecast, by grades, 2019-2027
6.4.7.2.    Market size and forecast, by application, 2019-2027
6.4.7.3.    Comparative market share analysis, 2019 & 2027

7.    Company Profiles

7.1.    Kanchi Karpooram Limited 

7.1.1.    Business overview
7.1.2.    Financial performance
7.1.3.    Product portfolio
7.1.4.    Recent strategic moves & developments
7.1.5.    SWOT analysis

7.2.    Mangalam Organics Limited

7.2.1.    Business overview
7.2.2.    Financial performance
7.2.3.    Product portfolio
7.2.4.    Recent strategic moves & developments
7.2.5.    SWOT analysis

7.3.    Saptagir Camphor Limited

7.3.1.    Business overview
7.3.2.    Financial performance
7.3.3.    Product portfolio
7.3.4.    Recent strategic moves & developments
7.3.5.    SWOT analysis

7.4.    Oriental Aromatics Limited

7.4.1.    Business overview
7.4.2.    Financial performance
7.4.3.    Product portfolio
7.4.4.    Recent strategic moves & developments
7.4.5.    SWOT analysis

7.5.    Aldon Corporation

7.5.1.    Business overview
7.5.2.    Financial performance
7.5.3.    Product portfolio
7.5.4.    Recent strategic moves & developments
7.5.5.    SWOT analysis

7.6.    Nagase & Co. Ltd.

7.6.1.    Business overview
7.6.2.    Financial performance
7.6.3.    Product portfolio
7.6.4.    Recent strategic moves & developments
7.6.5.    SWOT analysis
7.6.6.    Skyrun Industrial Co. Ltd.
7.6.7.    Business overview
7.6.8.    Financial performance
7.6.9.    Product portfolio
7.6.10.    Recent strategic moves & developments
7.6.11.    SWOT analysis

7.7.    Spectrum Laboratory Products Inc.

7.7.1.    Business overview
7.7.2.    Financial performance
7.7.3.    Product portfolio
7.7.4.    Recent strategic moves & developments
7.7.5.    SWOT analysis

7.8.    Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd.

7.8.1.    Business overview
7.8.2.    Financial performance
7.8.3.    Product portfolio
7.8.4.    Recent strategic moves & developments
7.8.5.    SWOT analysis

7.9.    Taiwan Tekho Camphor Co. Ltd.

7.9.1.    Business overview
7.9.2.    Financial performance
7.9.3.    Product portfolio
7.9.4.    Recent strategic moves & developments
7.9.5.    SWOT analysis

Camphor or Cinnamomum Camphor, to be termed scientifically is an ignitable, luminous white solid with piquant smell and sour taste.  Its menthol-like, nose tingling fragrance appeals to some.

Extracted from Alpha-Pinene, synthetic camphor is transformed into camphene by esterification of bornyl acetate. It is a white crystalline chemical affluence which has a strong mothball like odor and a chemically sedentary substance.

Synthetic camphor is used as an ingredient in pharmaceuticals such as antipruritics, anti-infectives, and rubefacient medications that reduce pain and itching. It has also various applications in industries. The manufacturing process of plastics, cellulose nitrate, and polyvinyl chloride.

Factors behind the Market Growth

Increasing popularity of over the counter (OTC) drugs that are used to treat arthritis-related problems as well as nasal blocking has surged the need of synthetic camphor. Moreover, the usage of synthetic camphor in the manufacturing process of plastic products and smokeless powder ingredients has positively impacted the growth of the global synthetic camphor market.

Pharma grade synthetic camphor is used in the production of OTC drugs owing to its antibacterial and antifungal properties. Approved by the FDA, the over the counter drugs are generally used to treat joint pain, common cold, cough, nasal blockage. OTC drugs such as Vaporex and Apanol Alcanfor contain 10% of camphor. These medicines are used to reduce joint pain, muscle pain, and back pain. In addition, synthetic camphor is also used in hair care products. It helps in reducing hair fall and its anti-microbial property kills head lice. Synthetic camphor is also found in skincare products. It is beneficial for skin health as it lessens skin redness, rashes, and improves the appearance of skin by imparting numbness to the nerve endings of skin. These are the main attributors behind the growth of the global synthetic camphor market in the forecast period.

Recent Developments in the Industry

According to a recent report by Research Dive, the leading players of synthetic camphor market include Mangalam Organics Limited, Spectrum Laboratory Products Inc., Oriental Aromatics Limited, Kanchi Karpooram Limited, Aldon Corporation, Saptagir Camphor Limited, Nagase & Co. Ltd., Skyrun Industrial Co. Ltd., Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd., Taiwan Tekho Camphor Co. Ltd., and others.

These market players are developing unique and smart strategies to take the market to another height. The strategies include product innovation and launches, technology and product upgradation, mergers and acquisitions, and partnerships and collaborations.

Some of the recent advances of the market are mentioned below:

  • Kanchi Karpooram Limited (KKL) expanded its production capacity of camphor and camphor derivative products of the facility located in Tamilnadu. KKL expanded its production capacity from 110 MT/Month to 330 MT/Month. This expansion helped the company to extend its production capacity and strengthen its product portfolio.
  • According to a latest news, Mangalam Organics Limited (Mangalam Organics) entered into an alliance with Les Derives Resiniques Et Terpeniques SA (DRT) in Feb 9, 2018. Based out of France, DRT is a leading manufacturer of phenolic resin. The primary reason behind this agreement was to expand the global footprint of Mangalam Organics and strengthen the product portfolio.
  • Saptagir Camphor Limited (SCL) and Camphor & Allied Products Limited merged their business in April 5, 2016. Camphor & Allied Products Limited is leading manufacturer of camphor products. This merger has expanded product portfolio of SCL and enhanced its business of camphor products.

Conclusion

Much like other industries, synthetic camphor market has also been impacted by the destructive wave of the pandemic. The global synthetic camphor market is witnessing a positive growth in the market because of all these advances in recent months. With the brilliant strategies taken by the lead players, the market will be sustaining its growth after the pandemic ends.

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