Undecylenic Acid Market size is poised to cross USD 6 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 undecylenic acid was USD 3 Billion. The reason behind the growth is impelled by the growing chemical industry across the globe. The largest industrial energy consumption is the chemical industry which is expected to continue expanding owing to both robust demand and rising exports. Particularly, between 2020 and 2025, there will likely be over 8% global increase in the demand for chemicals. For instance, the global chemical industry generated over USD 5 trillion in revenue in 2022.
The growing demand for synthetic lubricants is believed to fuel the undecylenic acid market growth. Fatty acids such as undecylenic acid can be produced artificially or isolated from natural sources and can be utilized as an ingredient in synthetic lubricants to raise their viscosity index.
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 3 Billion |
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Forecast Year Market Size (2036) |
~ USD 6 Billion |
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Regional Scope |
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Application (Cosmetic Biocide, Fragrance Ingredient, Antifungal Agent, Preservative and Surfactant)
The fragrance ingredient segment in the undecylenic acid market is estimated to gain a robust revenue share of 40% in the coming years owing to the growing demand for perfumes and mists. The fragrance and perfume market is expected to increase significantly owing to the growing demand for high-end fragrances and perfumes among consumers as a result of rising disposable income, leading to the rise of both online and offline distribution channels. Moreover, there is a growing global market for scents and perfumes owing to shifting consumer preferences and interests, the expanding popularity of personal grooming, the rising desire for expensive and exotic perfumes, growing consumer demand motivated by concerns about health and the environment, for fragrances manufactured with natural and organic ingredients.
Undecylenic acid is utilized as a synthetic intermediate to create aromatic compounds, and owing to its bacteriostatic qualities, it is used in cosmetics as salt. Undecylenic acid is a flavoring ingredient that is reduced to undecylenate aldehyde, which is valuable in perfumery. Moreover, another name for undecylenic acid is 10-undecenoic acid which demonstrates antibacterial activity against a variety of pathogenic fungi and also functions as a musk in fragrances.
In addition, undecylenic acid is an organic compound with the chemical formula C4H20O2 which is utilized as a surfactant, emulsifying agent, antiseborrheic agent, masking agent, and cleaning agent, and is applied topically as a zinc salt in a variety of creams to treat ringworm, dermatitis, fungal infections, and other cutaneous ailments.
Form (Liquid, Solution, Cream, Powder, Spray and Ointment)
The liquid segment in the undecylenic acid market is set to garner a notable share shortly. An antifungal drug made of unsaturated fatty acids, undecylenic acid comes in liquid, powder, and ointment form out of which liquids have a fixed volume, they can change shape over time owing to their low viscosity. In addition, over-the-counter (OTC) medications containing derivatives of undecylenic acid are accessible without a prescription and are used to treat superficial cutaneous fungal infections.
Our in-depth analysis of the global undecylenic acid market includes the following segments:
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Form |
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Application |
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Industry |
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APAC Market Forecast
The undecylenic acid market in Asia Pacific is predicted to largest revenue share of 58% by 2036 impelled by the growing production of castor oil. Lately, India, the world's largest producer of castor seeds, leads the globe in both castor oil output and export. Roughly 82% of global manufacturing is produced annually in India. For instance, more than 85% of the world's castor oil exports come from India. Castor oil is obtained from the fruit seed of castor (Ricinus communis L.) a large shrub that grows mainly in India, Brazil, and China which makes the nation amongst the most reliable manufacturers, exporters, and suppliers of Castor oil and its products.
North American Market Statistics
The North America undecylenic acid market is estimated to the second largest revenue share, during the forecast period led by the rising personal disposable income. This is driving the demand for cosmetics, makeup, and skincare products in the region. According to estimates, the United States' disposable personal income rose by 0.2% in December 2023 compared to the same month the previous year.
Author Credits: Rajrani Baghel
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