The global brassylic acid market
was valued at US$ 582.0 Mn in 2018, according to Global Brassylic Acid Market Report, by Raw Material Type (Paraffin Oil and Vegetable Oil (Crambe Oil, Rapeseed Oil, and Others)), by Production Method (Chemical and Fermentation), by Application (Fragrances, Adhesives, Plastics, Lubricants, and Other Polymers & Copolymers), and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa), published by Worldwide Market Reports.
The global brassylic acid market is expected to reach US$ 792.5 Mn by 2027, exhibiting a CAGR of 3.6% over the forecast period (2019-2027). Rising demand for fragrance products by various end-use industries such as beauty, personal care and home care is expected to rise demand for brassylic acid, which in turn is expected to drive market growth over the forecast period.
Brassylic acid is majorly utilized in synthesis of fragrances. Fragrances derived from brassylic acid belongs to macrocyclic musk category. Polycyclic musk such as phantolide are not environmentally friendly. Therefore, brassylic acid used for synthesis of macrocyclic musk is expected to be considered as a potential alternative for polycyclic musk, as it is an easily degradable chemical compound. This factor is likely to contribute to growth of the global brassylic acid market during the forecast period.
Various di-esters of brassylic acid are incorporated into PVC are 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-3-ethylhexyl pthalate, which is the most widely used plasticizer in moderate temperature applications.
However, according to the European Chemicals Agency (ECHA), direct contact with brassylic acid causes skin irritation, serious eye irritation, and may cause respiratory irritation. These factors are expected to hamper growth of the global brassylic acid market over the forecast period.
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Browse 64 market data tables* and 39 figures* on "Brassylic Acid Market” - Global forecast to 2027.
Key Takeaways of the Market:
- Among production method, chemical method is widely adopted by manufacturers for the production of brassylic acid. It accounted for around 88.2% of the global brassylic acid market share in 2018 and is expected to exhibit a CAGR of 3.5% over the forecast period.
- Among raw material type, vegetable oil segment accounted for around 79.4% of the revenue share in the global brassylic acid market in 2018 owing to its high yield compared to paraffin oil. Furthermore, crambe oil is expected to hold 65.3% of the vegetable oil segment in the global brassylic acid market during the forecast period.
- Among application, fragrances segment is expected to hold dominant position in the global brassylic acid market during the forecast period. It accounted for a market share of 43.8% in 2018 and is expected to retain its dominance over the forecast period. The fragrance segment is followed by plastics segment which accounted for a market share of 28.2% in 2018. In plastics, brassylic acid is majorly used as plasticizers for polyvinyl chloride (PVC). It enhances the flexibility and durability of PVC. Moreover, various applications of brassylic acid in lubricants and plastics is expected to drive growth of the brassylic acid market during the forecast period.
- Among region, Europe accounted for the largest revenue share of around 41.3% in 2018 and is expected to retain its dominance over the forecast period. This is attributed to high presence of manufacturers of perfumes, plastics, and adhesives in Europe. The region is followed by Asia Pacific, which accounted for around 25.2% market share, in terms of revenue share in 2018.
- Major players operating in the global brassylic acid market include 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., and Shanghai Kaleys Holding Co., Ltd.