Sandarac market has been witnessing strong growth over the past few years on account of its increasing demand from fragrance industry owing to its warm, fruity, light, balsamic fragrances. Demand for sandarac is also increasing on account of increasing application scope in medical industry over the past few years. Rising demand for liquor across the globe is one of the key factors to drive the market over the projected period. In addition, increasing demand for sandarac as protective coating for labels, negatives, cardboards, leather and metals is further expected to complement market growth over the forecast period.
Perfumery is the major application of sandarac market over the past few years owing to its unique aroma. Aroma therapy and medicinal application are the other major industries for sandarac owing to its stress relief properties. It has the ability to provide relieve from insomnia caused due to excess stress and tension, for which it has found wide range of application in medical industry. Sandarac is also used for preserving paintings and furniture, protective coating over water colors and paintings.
Based on end-use industries, sandarac market can be segmented into fragrance, medical, pharmaceutical and coatings among many others. Fragrance industry was the leading end-use segment for sandarac gum over the past few years and trend is expected to continue over the forecast period. Medical and pharmaceutical industries are expected to witness strong growth for sandarac gum market over the next seven years on account of increasing application in medicinal attributes such as reducing cramps, stomach ache, cold and catarrh. Strong growth in medical industry coupled with increasing R&D activities to develop better medicines from natural products is expected to open several growth prospects to sandarac market over the forecast period. Personal care and cosmetics industry is expected to witness significant growth over the next seven years on account of its increasing application in perfumery and aroma therapy owing to its immense fixative properties. Increased demand as the culinary agent in liqueurs is further expected to surge the market growth in near future. Other industries including coatings are anticipated to witness considerable growth owing to its increased use in coating cardboards, metals, leather and other labels.
Europe was the largest market for sandarac market in 2013 followed by Asia Pacific and North America. Strong demand from end-use industries is the key factor expected to drive the market in these regions. Asia Pacific is anticipated to witness significant growth over the next seven years on account of increasing demand from fragrance manufacturing industries, especially from China and Saudi Arabia.
Major players in sandarac market include Parchem Fine & Specialty Chemicals, Pangaea Sciences Inc., Sinopharm Chemical Reagent Co., Ltd., Thew Arnott & Co., Ltd., Scents of Earth and The Good Scents Company.
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