SEATTLE, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The global pelargonic acid market was valued at US$ 162.21 million in 2020, and is expected to exhibit a CAGR of 5.83% during the forecast period (2021-2027).
Key Trends and Analysis of the Global Pelargonic Acid Market:
The cosmetic and personal care industry's requirement of pelargonic acid is increasing due to wide application of pelargonic acid used for the formulation of skin & hair conditioning agents. Pelargonic acid is also being used in agriculture as an alternative for toxic chemicals, with the goal of improving bio-based herbicides to reduce the health risks connected with synthetic herbicides. Pelargonic acid is also utilised in cleaning products as a precursor to peroxynonanoic acid. Bleaching and antibacterial properties are provided by peroxycarboxylic acids (such as sanitization, disinfection, and sterilization). Key players are also working on offering new products of pelargonic acid to meet customer demands of pelargonic acid. Several major companies are investing in research and development projects to enhance the use of pelargonic aid, as a result, increased R&D and expanding applications in the food and agriculture industry are expected to drive the market growth. For instance, For instance, In September 2020, Glentham Life Sciences Limited acquired a 22,000-square-foot facility in Corsham, U.K. to expand its product portfolio. The company is expanding its present laboratory and storage facilities, as well as investing in new equipment and infrastructure.
Request Sample copy of this Report @ https://www.coherentmarketinsights.com/insight/request-sample/4816
Key Market Takeaways:
The global pelargonic acid market is expected to exhibit a CAGR of 5.83% over the forecast period (2020-2027). Major companies in the global market are employing various business strategies such as partnership and acquisitions to get a competitive edge in the market, and this is expected to fuel demand for pelargonic acid. For instance, in July 2019, Smart Science Co., Ltd., a distributor of life science and medical science research products, entered into a partnership with Glentham Life Sciences Limited. Under this partnership, Smart Science Co., Ltd. will distribute Glentham Life Sciences Limited products in Thailand.
There has been increasing demand for lacquer & coatings from construction sector, which is expected to drive demand for pelargonic acid. Lacquers are clear or colored coatings that provide glossy finish to furniture and fixture surfaces. They are available with different sheen levels, ranging from high gloss to ultra-matte. It offers extremely hard finishes, and is highly resistant to damage, particularly from acid, alkali, water, and abrasions. Coatings are used in general industry to protect the coated structure from corrosion, UV radiation, wear and tear, and enhance the efficiency of the coated substance.
Competitive Landscape:
Major players operating in the global pelargonic acid market include Central Drug House, Croda International Plc., Emery Oleochemicals, Glentham Life Sciences Limited, Haihang Industry, Kunshan Odowell Co., Ltd, Matrica S.p.A, OQ Chemicals GmbH, Tokyo Chemical Industry Co., Ltd., and Zhengzhou Yibang Industry & Commerce Co., Ltd.
Purchase this Premium Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/4816
Key players are focusing on various inorganic growth strategies such as mergers and product launches to strengthen their market position. For instance, In October 2018, Glentham Life Sciences Limited entered into a partnership with Inqaba Biotechnical Industries (Pty) Ltd. Under this partnership, Inqaba Biotechnical industries will distribute Glentham Life Sciences Limited products in South Africa and most countries in Sub-Saharan Africa.
Market Segmentation:
- Pelargonic Acid Market, By Grade:
-
- Natural Grade
- Synthetic Grade
- Pelargonic Acid Market, By Application:
-
- Detergents
- Lubricants
- Lacquer & Coatings
- Herbicide
- Food Additives
- Others (Personal Care & Cosmetics, etc.)
- Pelargonic Acid Market, By Region:
- North America
-
-
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia-Pacific
- By Country:
- China
- India
- Japan
- South Korea
- ASEAN
- Australia
- Rest of Asia Pacific
- By Country:
- Middle East & Africa
- By Sub-region:
- Middle East
- Africa
- By Sub-region:
-
Related Market Intelligence Reports:
Phenoxyethanol Market, by Application (Home & Personal Care, Pharmaceuticals, Dyes & Inks, Paint & Coatings, and Others) and by Region (North America, South America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
Genetically Modified Crops Market, by Crop Type (Soybean, Maize, Cotton, Canola, Others (Sugar Beat, etc.)), by Trait (Herbicide Tolerance (HT), Insect Resistance (IR), Stacked Traits (ST)), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
