The global sebacic acid market share is consolidated with major producers concentrated in China. Key companies include Arkema, Hengsui Jingua, Tongliao Xinghe Chemical, Xioyi Siqiang Chemical.
Global sebacic acid market size was estimated over 100 kilo tons in 2014 and is likely to exceed 130 kilo tons by 2023, with an estimated gains of more than 4% from 2015 to 2023.
Polyamide application witnessed the highest sebacic acid market consumption in 2014 and is likely to gain steady rates over the forecast period.
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Asia Pacific was the dominant region in 2014 in which China occupied a major chunk of the market. China accounts for close to 40% of the global demand and is also a major net sebacic acid exporter. North America and Europe are likely to witness moderate gains over the forecast period.
Shift in trend towards manufacturing bio-based polymers using renewable sources is expected to be more beneficial and environmentally friendly than petroleum derived polymers. This trend is likely to favor sebacic acid market growth over the forecast period. It is widely used to manufacture polyamide (nylon), a bio-engineering plastic, used for applications such as electronics, consumer goods, automotive and construction.
Sebacic acid market price trend is majorly affected by feedstock prices. Castor oil is the key raw material for manufacturing this product which is costly relatively to its petroleum counterpart, caprolactam for manufacturing polyamide. It is currently benefiting owing to lower crude oil prices. However, caprolactam being derived from a finite source is expected to lose its trend over the long term owing to economic benefits offered from renewable sources.
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Sebacic acid based polyamide is costlier but its selection as polyamide feedstock is based much on the performance rather than cost. Polyamide derived from it offers properties such as better physical & chemical properties such as better hydrophobicity and flexibility.
Castor oil availability is expected to improve sebacic acid market price trend and help the industry evolve. In May 2015, India has also entered in to an agreement with Oman government to establish state-of-the-art sebacic acid production plant in Duqm Special Economic Zone with an estimated investment of USD 62.7 million.
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