Heptanoic Acid Market Analysis

End-user (Automotive, Aerospace, Food & Beverage, Cosmetics & Personal Care, Pharmaceuticals, Chemicals)

The global heptanoic acid market is segmented and analyzed for demand and supply by end-user into automotive, aerospace, food & beverage, cosmetics & personal care, pharmaceuticals, chemicals, and others. Out of these end-users, the automotive segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the rising demand for and production of vehicles by the burgeoning population across the world. The automotive industry has the highest demand for heptanoic acid and is forecasted to hike the growth of the segment during the forecast period. The International Organization of Motor Vehicles released data that shows the total production of vehicles in the world was 80,145,988 units in 2021, a rise from 77,711,725 units in 2020. Whereas, the total sales were calculated to be 82,684,788 units in 2021, a rise from 78,774,320 in 2020.

Application (Lubricants, Flavors & Fragrances, Cosmetic Applications, Anti-corrosion Applications, Chemical Intermediates, Pharmaceutical Ingredients)

The global heptanoic acid market is also segmented and analyzed for demand and supply by application into lubricants, flavors & fragrances, cosmetic applications, anti-corrosion applications, chemical intermediates, pharmaceutical ingredients, and others. Amongst these segments, the lubricants segment is expected to garner a significant share. The growth of the market can be ascribed to the higher utilization of heptanoic acid in the form of industrial lubricants since it has all the required properties such as decreased volatility at high temperatures and low viscosity at low temperatures. Heptanoic acid as an industrial lubricant is heavily used in refrigerators, automobiles, aviation, and others. Hence, such higher utilization is projected to boost market growth over the forecast period.

Our in-depth analysis of the global market includes the following segments:

By Grade	Pharmaceutical Grade Food Grade Industrial Grade
By Application	Lubricants, Flavors & Fragrances Cosmetic Applications Anti-corrosion Applications Chemical Intermediates Pharmaceutical Ingredients Others
By End-User	Automotive Aerospace Food & Beverage Cosmetics & Personal Care Pharmaceuticals Chemicals Others

Frequently Asked Questions (FAQ)

Growth in the automotive industry and expansion of the beauty industry are the major factors driving the market growth.

The market is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2023-2033.

Adverse effects on the human body and fluctuation in costs of raw materials are estimated to be the growth hindering factors for the market expansion.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Handan Kezheng Chemical Co., Ltd., Jinan Chengui Shuangda Chemical Co., Ltd., Kalpsutra Chemicals Pvt. Ltd., The Merck Group, National Analytical Corporation, OQ Chemicals GmbH, Parchem Fine & Specialty Chemicals, Inc., others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by grade, application, end-user, and by region.

The automotive segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

Heptanoic Acid Market Analysis