Heptanoic Acid Market
Heptanoic acid is a colorless liquid with a pungent odor, and is less dense than water and poorly soluble in water. Heptanoic acid finds its two major uses that is vinyl plasticizers that are used in automotive industry and other is synthetic lubricants which is used in polyol esters. The properties of heptanoic acid such as high thermal stability, good resistance to oxidation, low viscosity at low temperature, and low volatility at high temperature makes it a first choice for its lubricant application. Heptanoic acid is utilized as an organic building block or the synthesis of variety of chemical compounds. Heptanoic acid is used in lubricants in the form of esters. These esters such as neopolyol esters are primarily used in the car motor oils, metalworking fluids, plasticizers, and more.
Excessive usage of heptanoic acid may lead to adverse health effects on individuals such as skin irritation and acute toxicity. Thus, direct exposure of consumers towards heptanoic acid should be avoided. Regulations such as EU GHS Regulation (EC) No 1272/2008 by the United Nation's Globally Harmonized System (GHS) on the classification and labeling of chemicals are imposed for the usage of heptanoic acid. Moreover, (EC) No 1907/2006 (REACH) regulation is imposed on heptanoic acid concerning its registration, evaluation, authorization, and restriction of over-usage.
Market Dynamics
Heptanoic acid in the form of ester is majorly used as an effective lubricant for brake fluids and other applications across the automotive industry. Growth of the automotive industry is expected to drive the demand for lubricants, which in turn, is expected to drive the demand for fine chemicals such as heptanoic acid over the forecast period. An increase in the transportation and transit of consumer goods, people, and raw materials have boosted the growth of the automotive industry. For instance, according to the China Association of Automobile Manufacturers (CAAM), in September 2019, the production and sales of commercial vehicles in China reached 3,45,000 and 3,40,000 units, respectively, which showed an increase of 15.8% and 11.6% when compared to the previous month, and up by 4% and 1.9% year on year, respectively.
The increasing disposable income among women is expected to drive the demand for cosmetic products. For instance, according to the U.S. Department of Labor, the total annual median earnings of women in 2019 was US$ 44,554, which is expected to reach US$ 49,670 by 2023 across the U.S. This rising income among women is expected to drive the demand for cosmetics like skincare products, which in turn, is expected to drive the demand for heptanoic acid over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
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