Erucic Acid Market size is anticipated to cross USD 990 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of erucic acid was over USD 102 Billion. The advancing drift of fabricating chemical substances from green feedstock is fueling the erucic corrosive showcase altogether. Expanding requests for erucic corrosive within the metalworking and plastic-added substances industry is additionally creating plentiful openings for producers working within the erucic corrosive advertise. High Erucic Acid Rapeseed Oil is broadly utilized by various businesses and contains almost 43% erucic corrosive. Worldwide utilization of erucic corrosive for mechanical applications stood at more than 1.2 Mn tons.
The expanded request for erucic acid has been driven by the rising directions on the utilization of naturally inviting added substances for lubricants, polymers, the metalworking segment, and others. Hence, the developing endeavors by worldwide producers, combined with strict controls, are anticipated to drive erucic acid requests over the estimated period. The worldwide advertising for erucic acid has seen an increment within the request from the manufacturers of chemicals utilized within the plastic and polymer movies businesses as major added substances.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024 - 2036 |
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CAGR |
~5% |
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Base Year Market Size (2023) |
~USD 102 Billion |
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Forecast Year Market Size (2036) |
~USD 990 Billion |
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Regional Scope |
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End Use (Plastic, Printing Ink, Food, Personal Care, Rubber, Pharmaceutical)
In terms of end users, the plastic segment in the erucic acid market is anticipated to hold the largest revenue share of 35% by the end of 2036. Erucic acid may be a long-chain greasy acid with a tall atomic weight which makes it an alluring plasticizer since it can improve the mechanical properties of plastics. Erucic acid could be a less hurtful elective to other plasticizers since it is both biodegradable and moderately non-toxic. Increasing demand for plastics is predicted to drive the growth of this segment in the forecast period. The plastic demand is set to proceed to develop for the predictable future, with generation set to reach 589 million metric tons in 2050.
Source (Rapeseed Oil, Canola, Tame Mustard, Fish)
Based on the source, the rapeseed oil segment in the erucic acid market is set to hold the largest revenue share during the projected period. Rapeseed oil, a commonly developed oilseed trim, is the most common source of erucic acid. There are several reasons why the hone of getting erucic acid from rapeseed oil is likely to proceed. To begin with, erucic acid may be found in rapeseed oil, which is reasonable and broadly open. Moment, utilizing rapeseed oil as a source of erucic acid fits with the developing need for organic and sustainable goods. Rapeseed oil may be a renewable asset that will be developed utilizing ecologically inviting cultivating strategies. Besides, it contains a little carbon impression than a few other oilseed crops, such as palm oil.
Our in-depth analysis of the global erucic acid market includes the following segments:
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Grade |
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Application |
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Source |
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End Use |
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European Market Forecasts
The Europe erucic acid market is predicted to hold 33% of the revenue share during the forecast period. In later a long time, several reasons have contributed to a relentless increment in erucic acid requests in Europe. Erucic acid's growing utilization as a common and economical fixing in an assortment of businesses, including the nourishment, individual care, and oil businesses, is one of the key variables contributing to the increment in requests. Erucic acid is utilized within the nourishment industry to form margarine, shortening, and other preparing items since it improves the texture and toughness of these things. Erucic acid request within the nourishment industry is expected to extend assistance due to the rising shopper's want for normal and more beneficial fixings. Compared to 2019, the number of natural nourishment makers within the European Union expanded by 1.6% to 349,499 giving rise to requests for normal nourishment.
North America Market Statistics
The erucic acid market in the North American is expected to grow significantly by the end of 2036. The locale holds a vital share in terms of the generation of Erucic corrosive as a major generation of rapeseed, and canola among others is being developed over these districts. The exacting directions and move of producers to utilize eco-friendly added substances has created critical footing within the erucic corrosive.
Author Credits: Rajrani Baghel
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