Brassylic Acid Market is expected to Reach $750.7 million by 2026Download Sample Reports Overview
According to a recent report published by Research Dive, titled, “Brassylic Acid Market by Raw Material Type, Production Method and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global Brassylic Acid market size was valued at $566.3 million in 2018, and is projected to reach $750.7 million by 2026, registering a CAGR of 3.7% from 2018 to 2026.
Europe dominates the market, followed by Asia Pacific, North America, Latin America and Middle East & Africa. U.S. dominated the global Brassylic Acid share in 2017, whereas India is expected to grow at High rate during the forecast period.
Growth of Brassylic Acid, is majorly used for synthesis of fragrances. Fragrances derived from Brassylic Acid belong to macrocyclic musk category. Polycyclic mush such as Phantolide faces few challenges as they are not environmental friendly. Therefore, Brassylic Acid used for synthesis of macrocyclic musk is expected to be considered as a potential alternative for polycyclic acid, as it is n easily degradable chemical compound. Fragrances are used in beauty, personal care as well as various home care products. Growth of end-use industries that use fragrances globally is expected to drive growth of fragrance industry and thereby, boost demand of brassylic acid in the near future.
Various di-esters of brassylic acid are incorporated into PVC and used as plasticizers. These derivatives of brassylic acid have property to remain stable in low- temperature conditions. DI-cyclohexyl brassylate (a derivative of brassylic acid) has properties similar to those shown by bis-3ethylexyl pthalate, which is most widely used plasticizer in moderate temperature applications.
Plastic and polymers are commonly synthesized from petroleum sources. Petroleum is considered as a non-renewable energy source and is depleting rapidly. Therefore, brassylic acid synthesized from plant-based sources such as crambe and rapeseed oil is a potential alternative for plastics produced from petroleum sources. 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.
Use of renewable sources such as vegetable oil for the production of brassylic acid is gaining traction, owing to the production of renewable end-use products such as plastics and polymers, among others. Vegetable oils such as crambe oil, rapeseed oil, and mustard oil are few examples of vegetable oils that are used for brassylic acid production. Moreover, low price and easy availability of vegetable oil are expected to attract brassylic acid manufacturers.
Factors such as growth of perfume and fragrance industry are driving the growth of Brassylic Acid market. In addition, use of renewable feedstock is anticipated to boost the growth of brassylic acid market. However, adverse effects of brassylic acid and availability of alternatives is expected to hinder the growth of the brassylic acid market.
Key Finding of the Brassylic Acid Market:
- Based on raw material type, vegetable oil segment generated the highest revenue in 2018.
- Based on application, fragrances segment was the highest revenue contributor in 2018.
- Based on production method, Chemical method contributed the highest market revenue in 2018.
- Based on region, Europe is anticipated to exhibit the highest CAGR during the forecast period.
The key players analyzed in this report are Cathay Industrial Biotech, Palmary Chemical, Unisource Chemical Pvt. Ltd, Zibo Guangtong Chemical Co. Ltd, Beyo Chemical Co. Ltd, Larodan AB, Evonik Industries, Nangtong Senos Biotechnology Co. Ltd, Shanghai Kaleys Holding Co. Ltd and others.