Undecylenic Acid Market Share

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.

Frequently Asked Questions (FAQ)

The growing chemical industry across the globe and the growing demand for synthetic lubricants are the major factors driving the growth of the market.

The market size of Undecylenic Acid is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024 - 2036.

The major players in the market are ITOH Oil Chemicals Co. Ltd., Jayant Agro Organics Limited, Hokoku Marine Co Ltd., PVS Chemicals Solutions, Inc, BASF SE, Akzo Nobel N.V., Xingtai Lantian Fine Chemical Co. Ltd, Arkema S.A., and others.

The Fragrance Ingredient segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.

Undecylenic Acid Market Share