Newark, March 18, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 193.2 million pelargonic acid market will reach USD 387.2 million by 2033. Pelargonic acid, which is often referred to as nonanoic acid, is a naturally occurring fatty acid that can be found in a variety of plant and animal sources. Its molecular formula is C9H18O2. It is extensively utilised in various applications, such as flavours, lubricants, plasticizers, and herbicides. Due to pelargonic acid's adaptable qualities and growing end-use sectors, the market has grown significantly in recent years. The growing need for herbicides is an important driver of the market's expansion. Herbicides based on pelargonic acid have become increasingly popular because they work well at controlling weeds, especially in organic farming. The market for pelargonic acid herbicides is predicted to grow even more as sustainable farming methods become more widely used. Throughout the forecast period, the expansion of the worldwide pelargonic acid market will be driven by its application as a bloom thinner. The main purposes of the flower thinning technique are to enlarge fruit and encourage plant blooming during the right seasons. Numerous regulatory requirements have led to increased use of pelargonic acid as a pesticide.
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Key Insight of the Pelargonic Acid Market
Asia Pacific to account for the largest market size during the forecast period.
Due to its enormous population, the Asia Pacific region has a sizable customer base. The increasing demand for items containing pelargonic acid results from changing lifestyles, rising disposable incomes, and population growth. These goods include, among other things, plasticizers, lubricants, and pesticides. In addition, the Asia Pacific area has experienced a sharp increase in urbanisation and industrialization, which has boosted infrastructure development and building activity. In the construction sector, pelargonic acid is widely used, especially in creating coatings and additives for concrete. Therefore, it is anticipated that the demand for pelargonic acid will be driven by the region's expanding construction industry.
The plant protection products segment dominated the market with the most significant revenue of USD 48.3 million.
The plant protection products segment dominated the market with the most significant revenue of USD 48.3 million. Due to the growing use of herbicides or plant protection chemicals to control weeds in plants and turf grass, there will be a significant increase in pelargonic acid or nonanoic acid throughout the forecast period.
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Market Dynamics:
Drivers: Rising demand for bio-based products
Pelargonic acid is considered a bio-based product as a fatty acid that occurs naturally. In the upcoming years, the demand for pelargonic acid is anticipated to be driven by the growing need for bio-based goods across various industries, including agriculture and cosmetics.
Restraint: Overexposure
Since most individuals often come into contact with plants like apples and grapes, they are frequently exposed to pelargonic acid. Erythema, contact dermatitis, and irritation of the eyes and skin can result from overexposure to this acid. These disadvantages of pelargonic acid use are anticipated to reduce its demand to some degree.
Opportunity: Growing focus on sustainability
In the forecast years, pelargonic acid demand is anticipated to be driven by the global movement towards sustainability. As a sustainable substitute for conventional chemicals, pelargonic acid is anticipated to be a major player in creating sustainable goods and services.
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Some of the major players operating in the pelargonic acid market are:
● Croda International Plc.
● Glentham Life Sciences Limited
● Kunshan Odowell Co., Ltd
● OQ Chemicals GmbH
● Zhengzhou Yibang Industry & Commerce Co., Ltd
● Central Drug House
● Emery Oleochemicals
● Haihang Industry
● Matrica S.p.A
● Tokyo Chemical Industry Co., Ltd.
Key Segments cover in the market:
By Application:
● Lubricating Oil
● Bleaching Agents
● Plant Protection Products
● Cosmetics
● Food Fragrances
● Others
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About the report:
The global pelargonic acid market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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