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BRASSYLIC ACID MARKET ANALYSIS

Brassylic Acid Market, 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, Latin America, Asia Pacific, Europe, and Middle East & Africa)

  • Published In : Apr 2023
  • Code : CMI3097
  • Pages :160
  • Formats :
      Excel and PDF
  • Industry : Bulk Chemicals

The brassylic acid market was valued at US$ 683.9 Mn in 2022 and is expected to exhibit a CAGR of 4.65%, in terms of revenue over the forecast period (2023-2030), to reach US$ 984.1 Mn by 2030. Companies operating in the brassylic acid market are focusing on adopting various strategies and innovative sustainable production processes for fragrances. For instance, in 2012, International Flavors & Fragrances (IFF), a U.S.-based company that manufactures flavors and fragrances, reduced usage of water by 10% per metric ton of fragrance production from 2007.

Brassylic Acid Market: Growth Factors

Rising applications of brassylic acid in various end use industries

The demand for brassylic acid is expected to increase over the forecast period, owing to rising applications of brassylic acid in various end use industries such as fragrances & perfumes, lubricants, and adhesives coupled with important use in the formation of polyurethanes, alkyd resins, and polyamides. Moreover, it is used as monomers for certain co-polymers such as nylon 13,13. Various diesters of brassylic acid are incorporated into PVC (Polyvinal Chloride)and are used as plasticizers. These derivatives of brassylic acid possess the property to remain stable at low-temperature conditions. Di-cyclohexyl brassylate (a derivative of brassylic acid) has properties similar to those shown by bis-3-Ethylhexyl phthalate, which is the most widely used plasticizer in moderate-temperature applications.

Brassylic Acid Market  Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2022: US$ 683.9 Mn
Historical Data for: 2017 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR:  4.65% 2030 Value Projection: US$ 984.1 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC and Rest of Middle East
  • Africa: North Africa, central Africa, South Africa and Rest of Africa
Segments covered:
  • By Raw Material Type: Paraffin Oil, Vegetable Oil, Crambe Oil, Rapeseed Oil, Others (Mustard Oil and Others)
  • By Production Method: Chemical, Fermentation
  • By Application: Fragrances, Adhesives, Plastics, Lubricants, Other Polymers & Copolymers
Companies covered:

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.

Growth Drivers:
  • Rising applications of brassylic acid in various end use industries
  • Nylon is manufactured with brassylic acid
Restraints & Challenges:
  • Availability of substitutes and its potential to cause health problems

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Nylon is manufactured with brassylic acid

Nylon that is manufactured with brassylic acid has low moisture absorption capability, which is suitable for applications that require toughness, retention of strength, abrasion resistance, and electrical properties under changing climatic conditions. Furthermore, the properties of nylon 1313, which is manufactured using brassylic acid is similar to that of commercially produced polyamides such as nylon 11, 12, 610, and 612. These factors are expected to drive demand for brassylic acid over the forecast period.

Brassylic Acid Market: Market Restraints

Availability of substitutes and its potential to cause health problems

Brassylic acid is majorly used in the fragrance industry for the synthesis of macrocyclic musk, however, other musk compounds such as nitro musk and polycyclic musk compounds are readily available in the market. Moreover, direct contact with brassylic acid can cause skin and eye irritation and is expected to cause respiratory problems. The availability of substitutes and their potential to cause health problems are expected to hamper the growth of the market over the forecast period.

Figure 1. Global Brassylic Acid Market, By Application 

BRASSYLIC ACID MARKET

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Brassylic Acid Market: Market Segmentation

Among application, the fragrances segment held the dominant position and accounted for 42% of revenue share in the brassylic acid market in 2022. The fragrance industry is growing across the globe, owing to the continuous demand for fragrances from various industries such as perfumes, cosmetics, personal care & cosmetics, and homecare among others, which is expected to drive the growth of the market over the forecast period.

Figure 2. Global Brassylic Acid Market, By Region

BRASSYLIC ACID MARKET

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Brassylic Acid Market: Regional Insights

In terms of Geography, the brassylic acid market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region dominates the global market for brassylic acid. As a result of rapid urbanization and an increase in disposable income along with a change in people's lifestyles, the use of brassylic acid in industrial businesses, such as perfume production, has increased. North America has a large market share. It holds one of the world's strong pharma bases. Improved investment in the pharmaceutical industry and growing people's spending power have contributed to a boom in the North American market for brassylic acid. Countries such as France, Italy, and Spain are the center of the fragrance industry and have the best perfumes produced in the world. Such a strong manufacturing base and sustainability in Europe has caused a spike in the demand for perfumes due to the evolving lifestyle of the people and has caused an increase in the market for brassylic acid. The Middle East and Africa are expected to face substantial growth. Due to the fact that the processing of brassylic acid is less tedious compared to fermentation, many producers in the region have experienced an increase in market growth. Latin America is experiencing relatively slow growth due to the limited number of manufacturers and the availability of substitutes

Brassylic Acid Market: Recent Developments

  • In 2020, Evonik, a company for engineered polymer technology headquartered in Germany, announced that it had launched a new manufacturing center for 3D printing in Texas intending to grow its business in the field of additive manufacturing. This has helped the company to increase its product offerings on the market by gaining a competitive edge in the U.S. markets.
  • In 2020, U.S.-based biotechnology company Cibus announced that it had developed a non-GMO method for producing high-Purity brassylic acid from canola plants. This method could potentially provide a more sustainable and cost-effective source of the acid compared to traditional methods.

Brassylic Acid Market: Key Companies

Major players operating in the 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.

*Definition: Brassylic acid is a versatile chemical intermediate. Brassylic acids were first created in the nineteenth century by oxidative ozonolysis of erucic acid. Brassylic acid is a dibasic acid, which is available in the market in the form of flakes, powder, or in diluted form. It belongs to the family of organic compounds called long-chain dicarboxylic acid.

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About Author

Vidyesh Swar

Vidyesh Swar is a seasoned Consultant with a diverse background in market research and business consulting. With over 6 years of experience, Vidyesh has established a strong reputation for his proficiency in market estimations, supplier landscape analysis, and market share assessments for tailored research solution. Using his deep industry knowledge and analytical skills, he provides valuable insights and strategic recommendations, enabling clients to make informed decisions and navigate complex business landscapes.

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Frequently Asked Questions

The global Brassylic Acid Market size was valued at USD 683.9 million in 2023 and is expected to reach USD 984.1 million in 2030.

The brassylic acid market is estimated to reach US$ 984.1 Million

Major players operating in the 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.

Among application, the fragrances segment accounted for the highest market share of 42% in the market, in 2022.

Rising applications of brassylic acid in various end use industries and Nylon is manufactured with brassylic acid are the key factors driving the growth of the market

The market is estimated to exhibit a CAGR of 4.65% over the forecast period.

Among regions, Asia Pacific accounted for the largest revenue share of 37% in the market in 2022.
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