Market Research

Sebacic Acid Market Size Forecast to Reach $349.90 Million by 2025

Jul 17, 2020 9:00 PM ET

iCrowd Newswire – Jul 17, 2020

Sebacic Acid Market size is forecast to reach $349.90 million by 2025, after growing at a CAGR of 3.89% during 2020-2025. Market growth of sebacic acid with a wide variety of uses and benefits is backed upon increasing demand for lubricants in automotive, aircraft, and truck engines as a corrosion inhibitor and as a coolant fluid. Sebacic acid is used in the form of sebacate esters to manufacture polyvinyl chloride films as it helps to provide properties such as crack resistance in the automotive industry, which is expected to drive the growth of the sebacic acid industry in the forecast period.

By Source Type – Segment Analysis

Castor Oil is extensively used in Sebacic Acid Market for the production of sebacic acid. Due to its excellent anti-inflammatory, antimicrobial, moisturizing, and some other useful properties it is widely used in cosmetics, medicinal, industrial, and pharmaceutical uses. Castor oil and ricinoleic acid are believed to improve skin absorption and are often used to treat various skin disorders, including dermatosis, psoriasis, and acne. Castor oil remains a popular natural remedy for chronic conditions such as constipation and skin ailments and is widely used in natural beauty products.

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Application- Segment Analysis

Personal Care & Cosmetics held the largest share in the Sebacic Acid Market in 2019 and is projected to grow at a CAGR of 4.12% during the forecast period 2020-2025. Sebacic Acid is used as a pH corrector in cosmetics formulation. The sebacic acid is also widely used as a synthesis intermediate to produce sebacate esters which are used as an emollient, solvent, plasticizer, masking film-forming, hair, or skin conditioning. Sebacate esters are generally claimed to enable a good penetration, to give the skin a non-oily and silky feel. These esters are also considered to be effective pigment dispersant (DOS), to be good sun protection factor (SPF) booster (DIPS blended), and to avoid antiperspirant whitening (DIPS). The Increasing population coupled with growing awareness about personal health and skincare products are estimated to anticipate the demand for sebacic acid for good quality cosmetics in the forecast period.

End Use – Segment Analysis

Automotive Sector held the largest share in the Sebacic Acid Market in 2019. Sebacic Acid is commonly used as a corrosion inhibitor and as a coolant fluid in automotive and truck engines. Due to the excellent lubricity, low-temperature fluidity, lower flashpoints, and higher thermal stability sebacic acid is used for the manufacture of lubricants for the automotive and aerospace industries. Also, the use of sebacic acid in the form of sebacate esters in automotive industries for producing polyvinyl chloride films as they help to provide properties such as crack resistance is anticipated to boost the growth of the global sebacic acid market over the forecast period.

Geography- Segment Analysis

Asia Pacific held the largest share with 52.3% in Sebacic Acid Market in 2019, due to the increasing use of sebacic acid in the automotive industry. Also, increasing the use of lubricants in the automobile sector to reduce the friction, heat, and wear between mechanical components that are in contact with each other is boosting the market growth. China is Asia’s leading user of lubricants due to the rapid growth in the manufacture of heavy commercial vehicles and passenger cars in the automotive industry. According to the International Trade Administration, China is the largest vehicle market in the world, with the Chinese government expecting car production to reach 30 million units by 2020, and 35 million by 2025. According to the China Association of Automobile Manufacturers, in 2018, over 27 million vehicles were sold.

Drivers –Sebacic Acid Market

Increasing Use in Lubricants and Greases

Sebacic acid is extensively used in lubricants and greases. Adipic acid facilitates the manufacture of plasticizers and lubricants. Oligomeric esters of adipic acid and sebacic acid are the best suitable esters as components of engine oils. The presence of these esters improved the low-temperature properties of oils, both the pour point and low-temperature cranking viscosity was reduced. Moreover, the addition of esters increases the viscosity index of oils and improves their lubricity. Besides, azelaic acid also acts as a thickener in lithium complex greases and an intermediate in polymer or plasticizer production.

Increasing Use of Sebacic Acid in Plasticizer

Sebacate plasticizers are made of sebacate which is sebacic acid esters. Di Octyl Sebacate is an ester-type plasticizer which is used as a standard in polyvinyl chloride (PVC) compounds requiring flexibility at low temperatures. It is the typical high-quality cold resistance PVC plasticizers with high plasticizing efficiency and low color distortion. The most important features of DOS are low volatility; high plasticizing efficiency; excellent resistance to extraction by water, soaps, and detergents; and excellent flexibility at low temperatures. These basic qualities make DOS substantially better than phthalate and adipate esters. Due to its low molecular weight and low polarity, it is deficient in terms of migration resistance and extraction by hydrocarbon fluids. It should be used in minimal amounts that meet specific low-temperature performance requirements.

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Challenges –Sebacic Acid Market

High cost of raw materials

Castor oil and the adipic acid act as a raw material for the production of sebacic acid. India accounts for 85 percent of the global castor seed output. While in 2018-2019, overall, castor production in India forecasted to down by 23.5 percent as per the third advance estimates by the Agriculture Ministry. At present, the export prices of castor meal and castor oil are up by 49 percent and 27 percent on the year, respectively. According to the Solvent Extractors Association of India (SEA), the castor oil price was $1,660 per ton in the year 2019.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Sebacic Acid Market. Major players in the Sebacic Acid Marketare Arkema, Casda Biomaterials Co., Ltd, Croda Inc, Evonik Industry Ag, Hokoku Co., Ltd, Inolex, Krishna Solvent Chemical, Sebacic India Limited, Shanxi Zhengang Chemical Co , Ltd, Tianxing Biotechnology Co, Ltd., among others.

Key Takeaways

APAC dominates the Sebacic Acid Market due to the increasing production of complex grease and lubricants as well as polyvinyl chloride materials.

Sebacic Acid and its derivatives such as azelaic acid have several industrial applications such as plasticizers, lubricants, hydraulic fluids, cosmetics, candles, and increasing use as an intermediate for aromatics, antiseptics, and painting materials. Owing to which the demand for sebacic acid will propel in the forecast period.

Increasing the use of Sebacic acid in the manufacturing of biodegradable plastics and nylon-6,10 polymer, which has major applications in textiles, automotive, and packaging industries will anticipate boosting the market in the forecast era.

Owing to the lockdowns to tackle the Covid-19 outbreak, exports of castor oil from India are suspended, with China facing problems in the production of sebacic acid and hampering the growth of the Sebacic Acid Market in 2020-2021.

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