New York, March 29, 2023 (GLOBE NEWSWIRE) -- According to Market.us, The azelaic acid market size is projected to grow from USD 218.29 million in 2022 to USD 422.21 million by 2032, at a CAGR of 7.0%. Azelaic acid, a naturally occurring acid with anti-inflammatory and antimicrobial properties, is one such example. This acid has been used in treating skin conditions such as rosacea and acne due to its comedolytic, keratolytic, and antioxidant effects commonly found in hair care products.
Azelaic acid is an organic compound with the molecular structure C9H16O4 saturated dicarboxylic acid, which is a powder. This compound has biological activities and can be found in food products like barley, wheat, and rye; it inhibits enzymes involved in respiratory chain respiration as well as DNA synthesis. Produced from oleic and ozone when exposed to oxygen acting as a catalyst, Azelaic Acid has remarkable biological effects.
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Key Takeaway:
- By Product Type, in 2022, the azelaic acid market was dominated by the pharma-grade segment, with a revenue share of 49.6%.
- By Application, the plastic segment administrated the demand with a revenue portion of more than 38.6% % in 2022.
- In 2022, North America dominated the market with the highest revenue share of over 38.7%.
Factors affecting the growth of the azelaic acid industry.
- Several factors can have an impact on the growth of the azelaic acid industry. Some of these factors include:
- Azelaic acid's curative properties will be a driving factor in the cosmetic industry's growth.
- Azelaic acid will become an increasingly important ingredient in personal care products due to rising disposable income and improved lifestyles.
- This market will expand across various industrial segments such as plastics, electronics, pharmaceuticals, and petrochemicals; however, growth may be hindered due to fluctuating raw material prices or side effects from continued usage.
- Azelaic acid can also be used in soft drinks as an aroma compound. In addition, barley's azelaic acid is precious, serving as a wine preparation cleanser.
- These factors make azelaic acids highly sought-after ingredients in personal care products and the food industry - with forecasts for strong growth in this market over the coming years.
Market Restraints
Due to the abundance of di-carboxylic acids such as sebacic, the market potential for azelaic acid may be limited. Sebacic acid is produced from castor oil by heating it with caustic soda to form ricinoleic acid and then purifying it to produce sebacic.
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Market Growth
The target market has experienced an exponential rise in demand for polymers globally. As a result, azelaic acid, a key building block in polyamides and polyesters, has become increasingly important. Azelaic acid can also be utilized in high-performance copolyesters, which are popular in industrial adhesives, films, and polymeric plasticizers. Forecasts indicate that azelaic acids will experience increased demand due to increased polymer demand over the forecast period. In addition, azelaic acid is expected to experience growth in the market due to increasing demand for lubricants. These acids, which come from bio-based feedstocks, have become widely used as sources of lubricants.
Bio-lubricants are becoming more widely used, increasing demand for azelaic acids. Petroleum-based oil was once the go-to lubricant, but it had poor biodegradability. Additionally, petroleum-based lubricants can pose environmental issues by building up and damaging aquatic life. Therefore, bio-lubricants will remain in demand due to increasing awareness of eco-friendly lubricant options. Over the forecast period, the global azelaic acids market size will expand due to rising demand for environmentally friendly alternatives to petroleum-based lubricants. According to the Department of Ecology Washington (USA), lubricants are safer than their petroleum-based counterparts due to higher flashpoints, constant viscosity, and less oil mist or other vapour emissions.
Regional Analysis
Based on the regional outlook, North America accounted for 38.7% of azelaic acid consumption by revenue. Europe followed closely behind in terms of revenue at approximately 20%. Due to the variety of applications provided by end-use industries, North America and Europe provide ample opportunities for key players in the azelaic acids market, such as those from the U.S.A., Germany, France, and other regions. Over the next decade, there will be numerous mergers and acquisitions among core players in these regions. Asia Pacific - particularly India and China - offers exciting investment opportunities. India's economy is expected to experience a substantial compound annual growth rate over this timeframe while China follows behind. Middle East & Africa experience slower market expansion than Latin America.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 218.29 Million |
| Market Size (2032) | USD 422.21 Million |
| CAGR (from 2023 to 2032) | 7.0% |
| North America Revenue Share | 38.7% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
Azelaic acid's curative properties will be a driving factor in the cosmetic industry's growth. More personal care products are being created with this ingredient thanks to rising disposable income and lifestyle changes. This market will expand across various industrial segments such as plastics, electronics, pharmaceuticals, and petrochemicals; however, growth may be restricted due to fluctuating raw material prices or side effects from continued usage.
Azelaic acid has also found used as an aroma compound in soft drinks. Barley's azelaic acid is particularly valuable because it is a cleanser during winemaking, making it an invaluable ingredient for personal care products and food industries. Forecasts predict strong growth for this market over the coming years.
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Report Segmentation of the Azelaic Acids Market
Product Type Insight
Global azelaic acids can be divided into three parts based on product type: Technical, Polymer, and Pharmaceutical. The pharma-grade segment was the most dominant in the market in 2022, with a 49.6% revenue share. This is due to its purity and wide use in cosmetics, pharmaceutical products, and personal care. For example, it is used in cream for treating rosacea or acne. In addition, it can also be used as a bleaching agent or whitening active component in skincare products. Due to increased demand for skin care products, azelaic acid will see strong demand over the forecast period.
Application Insight
Global azelaic acids can be divided by application into Plastics and Lubricants, Electronics and Electronics, Pharmaceuticals and Cosmetics, and Personal Care. In 2022, the plastic segment dominated the market with a 38.6% share; this share is forecast to rise significantly during the forecasted period.
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Market Segmentation
By Product Type
- Polymer Grade
- Technical Grade
- Pharmaceutical Grade
By Application
- Plastics
- Lubricants
- Electronics
- Pharmaceuticals and Cosmetics
- Personal Care
- Other Applications
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
-
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
Key players operating in the global azelaic acid market include:
- Emery Oleochemicals
- Matrica
- Croda Sipo (Sichuan) Co., Ltd.
- antong Hengxing Electronic Materials
- Jiangsu Senxuan Pharmaceutical and Chemical Co., Ltd.
- Matrìca S.p.A.
- Hubei TuoChu Kangyuan Pharmaceutical Co., Ltd
- Croda Sipo
- BASF
- Other Key Players
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