AZELAIC ACID MARKET ANALYSIS

Market News

Recent Developments:

• In June 2023, Hubei TuoChu Kangyuan Pharmaceutical Co., Ltd. announced that it had received a patent for a new process for producing azelaic acid from renewable feedstock. This new process is expected to be more environment-friendly and cost-effective than traditional methods of producing azelaic acid. Hubei TuoChu Kangyuan Pharmaceutical Co. Ltd. manufactures and distributes traditional Chinese medicines. The company produces nourishing drugs, exterior plasters, loratadine syrup, food supplements, and others. Hubei TuoChu Kangyuan Pharmaceutical Co., Ltd. conducts business in China.
• In March 2023, Emery Oleochemicals announced expansion of its production capacity for azelaic acid at its plant in Cincinnati, Ohio. This expansion is expected to be completed in 2024 and is expected to double the company’s azelaic acid production capacity. Emery Oleochemicals is a global specialty chemical manufacturer that offers a diverse product portfolio, including renewable solutions for various markets such as Agro Green, Bio-Lubricants, Eco-Friendly Polyols, Green Polymer Additives, Home & Personal Wellness, and OleoBasics. The company's EMEROX 1144 azelaic acid is a crucial component for complex grease thickener systems and has been added to the European Ecolabel LuSC-List, which designates environmentally acceptable lubricants. Emery Oleochemicals' azelaic acid is widely used as a complexing agent for lithium complex grease, providing high dropping points, improved mechanical stability, water resistance, and oil separation properties.

Figure 2. Azelaic Acid Market Share (%), by Application, 2024

Mergers and Acquisition:

• In February 2023, Matrica announced partnership Collistar to develop a new line of azelaic acid-based skincare products. This new product line is expected to be launched in early 2024.
• Collistar is an Italy-based beauty brand that was founded in Milan in 1983 and is a part of the Bolton Group, Italian conglomerate that sells products under more than fifty brands. The brand is active in Italy and over 45 countries, with 19 years of leadership in Italy. Collistar offers a wide range of beauty products, including treatments for the face, body, hair, makeup, aromatherapy, and solar products. The company is committed to finding simple and pure cosmetic solutions, combining maximum effectiveness with maximum tolerability, and it abides by Bolton Group's sustainable development plan, respecting the planet's resources and protecting present and future generations.