HEPTANOIC ACID MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

The heptanoic acid market is majorly driven by the increasing applications in the automobile industry. The rise in demand for heptanoic acid such as lubricant in the automotive industry is expected to drive the global heptanoic acid market in the upcoming years. Heptanoic acid is used as a synthetic flavoring ingredient in the production of special lubricants for brake fluids. The growing usage of heptanoic acid as a lubricant in car motor oils, metalworking fluids, plasticizers, etc., is driving the global heptanoic acid market.

Heptanoic acid has good corrosion properties at both low as well as high temperatures. It also finds application as an industrial lubricant on the account of its corrosion inhibition properties, lower volatility at higher temperatures, and lower viscosity at lower temperatures. Thus, the adoption of heptanoic acid is increasing in various industries such as aerospace, refrigeration, and air conditioning.

Market Restraints

Heptanoic acid as a chemical intermediate has several disadvantages. For instance, over-exposure or direct contact of heptanoic acid with human body may lead to irritation in the respiratory system. Thus, several rules and regulations have been set by statutory governing bodies for its usage. These factors are expected to hinder the demand for heptanoic acid to some extent. In December 2019, Governing authorities such as the EU (European Union) have recommended a set of regulations for the effective usage of heptanoic acid. For instance, the European regulations act REGULATION (EC) No 1272/2008 describes heptanoic acid as acutely toxic and harmful, if inhaled. Moreover, as per the same source, direct contact of heptanoic acid with human body may lead to skin burns and severe eye damage.