The global sebacic acid market size is projected to reach USD 327.3 million by 2025, according to a new report by Grand View Research, Inc. The global market is projected to register a CAGR of 3.7% during the forecast period. Increasing demand for new and improved cosmetics and rising demand for biodegradable polymers in automotive, packaging, and other industries is driving the market. Sebacic acid is one of the most popular cosmetic ingredients, as it is classified under non-hazardous chemicals and has multiple properties to suit skincare products, such as sun-screens, foundations, and concealers.
Rising demand for cosmetics and increasing awareness about these products, mainly through social media, has led to the growth of the sebacic acid market. Asia Pacific leads the global market owing to the increasing population and urbanization along with rapid industrialization. The region is anticipated to maintain its dominance due to affordable infrastructure and cheap labor. Asian countries like China and India are among the leading exporters of the chemical. India, with its favorable climatic conditions, is also one of the largest producers of castor seeds and thus of its derivatives including sebacic acid.
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Further key findings from the study suggest:
Global sebacic acid volume is projected to reach nearly 40 kilo tons by 2025, with growth driven by a positive outlook on end-use industries, such as lubricants, cosmetics, and metalworking
In terms of revenue, the cosmetics segment is projected to ascend at a CAGR of 4.1% from 2018 to 2025 due to escalating demand for personal care and hygiene products
Polymer manufacturing led the application segment in 2017 and accounted for 28.5% of the global revenue
Some of the prominent companies in the global sebacic acid market include Arkema, Inc.; Hokoku Corp.; Sebacic India Ltd.; and Jayant Agro-Organics Ltd.
Most of these companies are targeting regional supremacy by entering into collaborations with cosmetic and oil companies.
Grand View Research has segmented the global sebacic acid market on the basis of application and region:
Sebacic Acid Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Others (Metal Working Fluids, Paints & Coatings, etc.)
Sebacic Acid Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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