Global Synthetic Camphor Market Predicted to Generate a Revenue of $448.1 Million at a CAGR of 5.9% during the Forecast Period, 2019-2027 - Exclusive Report [Pages-242] by Research Dive

Global synthetic camphor market is anticipated to witness a significant growth during the forecast period, 2019-2026. Technical sub-segment is expected to be the most profitable. Flavor and fragrances sub-segment is expected to dominate the market. Asia-Pacific is expected to lead the market.

New York, USA, June 22, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global synthetic camphor market is projected to register a revenue of $448.1 million at a CAGR of 5.9% during the forecast period (2019-2026), increasing from $367.0 million in 2019. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.

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Dynamics of the Market

Drivers: Pharma grade synthetic camphor is rich in antibacterial and antifungal properties and used in the production of OTC drugs. These FDA approved OTC drugs are good for nasal congestion, joint pain, minor cold, and cough.

Synthetic camphor is also used in hair care and skin care products. It has many benefits such as reducing skin rashes and other related problems. These factors are enhancing the growth of the synthetic camphor market during the forecast period.

Restraints: Application of synthetic camphor in undiluted form in medicines may result in many side effects. This factor is hampering the growth of the market.

Opportunity: Synthetic camphor is being used in the pharmaceutical industry for various treatments such as respiratory disorders, arthritis, and mild cold and cough. The constant growth of the pharmaceutical industry is expected to create many opportunities in the global synthetic camphor market in upcoming years.

Key Segments of the Market

The report has divided the market into different segments based on grades, application, and regional analysis.

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  • Grades: Technical Sub-Segment Predicted to be the Most Profitable

Technical grade sub-segment recorded a revenue of $60.9 million in 2019 and is further expected to surpass a revenue of $76.9 million by the end of 2026 at a CAGR of 6.5%.

The main attributor behind this growth is different industrial applications of synthetic camphor. For instance, it can increase fluidity and workability of polymers, and is hence used as a plasticizer. This factor is enhancing the growth of the segment.

  • Application: Flavor & Fragrances Sub-Segment Expected to be the Most Lucrative

Flavor and Fragrances sub-segment is expected to earn the highest market share during the forecast period. The main reason behind this growth is that its extensive application in the food and desserts. Camphor enhances taste and adds aroma to various Asian delicacies, resulting in high demand of the product.

  • Regional Outlook: Asia-Pacific Expected to Dominate the Market

The Asia-Pacific region is expected to dominate the market by garnering a revenue of $128.9 million at a CAGR of 4.9% during the forecast period. The main reason behind this growth is the high production rate of synthetic camphor in the Asia-Pacific countries. In parts of Japan, indigenous trees are found from which synthetic camphor is manufactured.

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Key Players of the Market

The most significant players of the global synthetic camphor market include

  1. Oriental Aromatics Limited
  2. Mangalam Organics Limited
  3. Kanchi Karpooram Limited
  4. Aldon Corporation
  5. Skyrun Industrial Co. Ltd.
  6. Saptagir Camphor Limited
  7. Spectrum Laboratory Products Inc.
  8. Nagase & Co. Ltd.
  9. Taiwan Tekho Camphor Co. Ltd.
  10. Wuzhou Huangpu Chemical Pharmaceutical Co. Ltd.

These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.

One example of recent development:

In August 2019, NAGASE & CO., LTD., a trading firm specialized in chemical products, announced about its successful acquisition of Prinova Group LLC., a leading manufacturer and distributor of premium nutrition ingredients. This acquisition considered to be a historic moment for the company and a step towards the territorial expansion of the company.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.

In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report

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