Sebacic Acid Market by Application and Geography – Forecast and Analysis 2020-2024


The sebacic acid market is expected to grow by USD 129.57 million during 2020-2024, according to the latest market research report by Technavio.
Sebacic acid is used as a corrosion inhibitor and also as a coolant fluid in automotive, aircraft, and truck engines. In addition, it is used to manufacture complex greases and lubricants as well as polyvinyl chloride (PVC) materials. Major automotive manufacturing countries, such as Germany, Italy, the US, India, China, and others, have been using sebacic acid as a coolant and for the manufacture of PVC. The automotive industry uses PVC in varied applications such as the manufacture of cable insulation and grommets, dashboards, door panels seating, armrests, and exterior parts, which include body side protection strips, weatherstrips, and window sealing profiles. Thus, the increasing demand from the automotive industry is expected to drive the growth of the sebacic acid market during the forecast period.
  Download the free sample report @ http://bit.ly/2uVFqdN
As per Technavio, the adoption of alternative production processes for sebacic acid will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Sebacic Acid Market : Adoption Of Alternative Production Processes For Sebacic Acid
Sebacic acid is mainly manufactured from castor seed oil. However, sebacic acid is also being produced from butadiene by using palladium-catalyzed oxidative carbonylation technology. This dicarbonylation method produces dimethyl hex-3-enedioate adipic acid. In addition, it is also being manufactured by the electrooxidation of adipic acid. Adipic acid is partially esterified to form monomethyl adipate. Through electrolysis, the potassium salt of moneomethyl adipate is dissolved in methanol and water to form dimethyl sebacate. This sebacate is then hydrolyzed to form sebacic acid. Thus, the increasing use of alternative manufacturing processes for sebacic acid will drive the growth of the sebacic acid market during the forecast period.
“Factors such as the increasing sebacic acid production in the Middle East, and the high demand for sebacic acid in China will have a positive impact on the growth of the sebacic acid market value during the forecast period,” says a senior analyst at Technavio.
Sebacic Acid Market: Segmentation Analysis
This market research report segments the sebacic acid market by application (polymer manufacturing, coolants, industrial use, ester manufacturing and others), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the sebacic acid market in 2019, followed by North America, Europe, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to several factors such as the high growth in end-user industries such as automotive, polymer, and others along with the presence of a large consumer base, and easy availability of raw materials and low-cost labor.
Location: United States

Comments

Post a Comment

Popular posts from this blog

Flexible Packaging Market – Top Insights On Forecast and Analysis 2020-2024

Image
The  flexible packaging market  size has the potential to grow by USD 59.22 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Flexible Packaging Market Market Competitive Analysis The flexible packaging market is fragmented. Market vendors are involved in price wars to expand their customer base, which further intensifies the competition. Amcor Plc, Berry Global Group Inc., and CCL Industries Inc. are some of the major market participants. Although the growing popularity of flexible bioplastic packaging will offer immense growth opportunities, increasing focus on reducing the use of plastic packaging will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Download the free sample report @  https://bit.ly/2Xa7d5n To help clients
Read more

Liquid Silicone Rubber Market – Latest Insights on Forecast and Analysis 2020-2024

Image
The liquid silicone rubber market size has the potential to grow by USD 715.78 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. Market Competitive Analysis The market is concentrated, and the vendors in this marketspace mainly compete based on factors such as the cost of production, innovation in products, price, operational cost, R&D cost, and product quality. Focusing on increasing their product portfolio, liquid silicone rubber suppliers are increasingly investing in R&D activities. CHT Group, Elkem ASA, and KC Co. Ltd. are some of the major market participants. Although the rising demand for lightweight materials in the automotive industry will offer immense growth opportunities, the fluctuation in raw material prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while mainta
Read more

Scented Candles Market – Top Insights on The Latest Trends

Image
The  scented candles market  size has the potential to grow by USD 1816.06 mn during 2020-2024 Market Competitive Analysis The market is fragmented. Bolsius International BV, Diptyque SAS, Godrej Consumer Products Ltd., NEST Fragrances, Newell Brands Inc., Reckitt Benckiser Group Plc, S.C. Johnson & Son Inc., ScentAir Technologies LLC, The Bridgewater Candle Co., and The Procter & Gamble Co. are some of the major market participants. Factors such as increasing investment in household interiors, growing home décor market, and diversified product portfolio of key vendors will offer immense growth opportunities. However, stiff competition from the unorganized sector, emission of toxic fumes, and criticality of inventory management and product sourcing may impede market growth. To make the most of the opportunities, vendors should focus on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Download the free samp
Read more