Heptanoic Acid Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

 

Heptanoic acid is also known as Enanthic acid. It is an organic compound composed of a seven-carbon chain terminating in a carboxylic acid functional group. It is a colorless oily liquid with an unpleasant, rancid odor. It contributes to the odor of some rancid oils. In recent years, the demand for heptanoic acid has risen dramatically as it is used in the preparation of esters for the fragrance industry, as an additive in cigarettes as well as plays a role in plant metabolites. For instance, in 2020, 22.3% of the global population used tobacco, 36.7% of all men, and 7.8% of the world’s women.

The Heptanoic Acid Market is expected to grow at a steady rate of around 4% owing to the increasing demand from the pharmaceutical industry. Major companies in the market offer heptanoic acid for automotive, aerospace, food & beverage, cosmetics & personal care, pharmaceuticals, chemicals, and other sectors with technologically advanced features. For instance, in September 2019, according to the China Association of Automobile Manufacturers (CAAM), the production and sales of commercial vehicles in China reached 3,45,000 and 3,40,000 units, respectively, which showed an increase of 15.8% and 11.6% when compared to the previous month, and up by 4% and 1.9% year on year, respectively.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=32342

 According to UnivDatos Market Insights (UMI)’ research report “Global Heptanoic Acid Market”, the market is expected to witness robust growth during the forecast period (2021-2027). This is mainly due to the growing demand as an additive in cigarettes and plant metabolites coupled with its use in the fragrance industry.

Based on grade, the market is segmented into industrial, pharmaceutical, and food. The industrial category is expected to hold a significant share during the forecast period owing to the growing penetration of heptanoic acid from developing nations such as China, India, and Mexico, among others. Heptanoic acid is being adopted to promote the preparation of esters for the fragrance industry. Also, an additive in cigarettes across geographies. Furthermore, the entry of global players into emerging markets adds to the growth of the market. For instance, in 2021, Arkema announces a 50% global capacity expansion for its Oleris® advanced biomaterials. It includes C7, C11, and C18 materials, comprising n-heptanoic acid, n-heptaldehyde, undecylenic acid, and Esterol A. This is expected to start by mid-2022 at the major bio-factory of Jurong Island in Singapore.

On the basis of application, the market is categorized into lubricants, flavors & fragrances, cosmetic applications, anti-corrosion applications, chemical intermediates, pharmaceutical ingredients, and others. Among these, the lubricants held a significant share of heptanoic acid in the market in 2020. This is mainly because it is used in the form of esters. As one of the neopolyol esters is primarily used in car motor oils, metalworking fluids, plasticizers, and more. The lubricants have properties such as high thermal stability, good resistance to oxidation, low viscosity at low temperature, and low volatility at high temperature escalating the growth of the market. Thus, investments taking place globally are contributing to the growth of the lubricants market.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=32342

Based on end-user, the heptanoic acid market has been classified into automotive, aerospace, food & beverage, cosmetics & personal care, pharmaceuticals, chemicals, and others. The automotive category is expected to dominate the market due to higher adoption of heptanoic acid during the forecast period. This is mainly due to the growing production of vehicles and their usage across the globe. In addition, there is a major growth in the sales of passenger vehicles and commercial vehicles across the globe, which is responsible for the heptanoic acid market growth. Since it is used as a lubricant in vehicles. For instance, in 2021, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020.

APAC to witness extensive growth

For a better understanding of the market adoption of the heptanoic acid industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia-Pacific is anticipated to dominate the market and is expected to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand of heptanoic acid due to its antimicrobial properties. Also, the growth is mainly owing to the positive outlook of end-user industries supported by rising population, and urbanization in many developing countries such as China and India. Additionally, China is one of the growing countries, which is focusing on replacing obsolete vehicles, in turn, increasing the demand for improved and high-performance lubricants in the market. Where India is the second-largest lubricant market in the region and the third largest in the world which is working towards the growth of the heptanoic acid market. Moreover, Government is also focusing on replacing old vehicles, which will increase the demand for upgraded and high-performance lubricants in the region.

For More Informative Information, Please Visit Us – https://univdatos.com/report/heptanoic-acid-market/

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the heptanoic acid market are Acme Synthetic Chemicals, Arkema S.A., Kalpasutra Chemical Pvt. Ltd., Merck KGaA, Parchem Fine & Specialty Chemicals, OQ Chemicals, Cayman Chemical, Intellichemie Industries, Tokyo Chemical Industry Co. Ltd., Neuchatel Chemie Specialties.

“Global Heptanoic Acid Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1.      By Grade (Industrial, Pharmaceutical, and Food)

2.      By Application (Lubricants, Flavors & Fragrances, Cosmetic Applications, Anti-Corrosion Applications, Chemical Intermediates, Pharmaceutical Ingredients, and Others)

3.      By End-User (Automotive, Aerospace, Food & Beverage, Cosmetics & Personal Care, Pharmaceuticals, Chemicals, and Others)

4.      By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.      By Company (Acme Synthetic Chemicals, Arkema S.A., Kalpasutra Chemical Pvt. Ltd., Merck KGaA, Parchem Fine & Specialty Chemicals, OQ Chemicals, Cayman Chemical, Intellichemie Industries, Tokyo Chemical Industry Co. Ltd., Neuchatel Chemie Specialties)

Key questions answered in the study:

1.      What are the current and future trends of the global heptanoic acid industry?

2.      How the industry has been evolving in terms of grade, application, and end-user?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global heptanoic acid industry?

5.      What is the customer orientation, purchase behavior, and expectations from the global heptanoic acid suppliers across various region and countries?