New York, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Heptanoic Acid Market Overview
As per an Extensive Research Report by Market Research Future (MRFR), “Heptanoic Acid Market Information By Grade, Application, and Region - Forecast till 2032” As per projections, the heptanoic acid market is bound to go from USD 3.2 billion in 2023 to USD 4.5 billion by 2032, with 4.30% CAGR between 2023 and 2032.
Market Scope
The natural acid heptanoic acid, also known as enanthic acid, is present in a variety of essential oils. Additionally, it can be found in foods including sour cherries, grapes, rice bran, apples, feijoa seeds, strawberry jam, clove buds, ginger, and coconut oil. C7 straight-chain fatty acids are a part of the smell of some rancid oils. It is employed as a tobacco addiction and in the synthesis of esters for the fragrance business. It serves as a metabolite for plants. A straight-chain saturated fatty acid with a medium-chain length is heptanoic acid.
Get a Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/12089
Market Competitive Landscape:
The important manufacturers of heptanoic acid in the market are
- Acme synthetic chemicals
- Arkema
- Handanshi Kezheng Chemical Co. Ltd.
- Jinan Chenghui Shuangda Chemical Co. Ltd.
- Kalpsutra Chemicals Pvt. Ltd.
- Merck KGaA
- Oxea
- Parchem fine & specialty chemicals
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 4.5 Billion |
| CAGR | 4.30% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Grade, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Supply Chain and Raw Material Availability. |
Browse In-depth Market Research Report (128 Pages) on Heptanoic Acid:
https://www.marketresearchfuture.com/reports/heptanoic-acid-market-12089
Market USP Covered:
Market Drivers:
Heptanoic acid works well as an ingredient in cosmetic and personal care products because it may be used to synthesize organic and natural chemicals that condition the skin and regulate viscosity. Sales of heptanoic acid are anticipated to increase as a result of the attention. Recent studies predict that by 2025, the beauty sector will generate USD 720 billion in revenue.
In addition, the global beauty sector spent USD 490 billion in 2020. Therefore, throughout the course of the forecast period, this is expected to significantly increase the growth of the heptanoic acid market. At various temperatures, heptanoic acid demonstrates high corrosion resistance. Due to its low volatility at high temperatures and low viscosity at low temperatures, it is also employed as an industrial lubricant.
Heptanoic acid is favored in the manufacturing industry because of the many advantages it provides. As a result, it is anticipated that there will be more manufacturing businesses, opening up profitable opportunities. A new study predicts that by 2022, there will be 638,590 manufacturing businesses operating in the US.
Market Restraints:
During the projection period, heptanoic acid usage can likely go down owing to environmental limits on the use of lubricants. However, the market shall find lucrative opportunities in the Asia Pacific in subsequent years, given the escalating demand for automobiles across the region, especially in China and India.
Share Your Queries:
https://www.marketresearchfuture.com/enquiry/12089
COVID 19 Analysis
The global economy's growth was impeded by the COVID-19 epidemic. A few of the steps adopted to tackle the outbreak include lockdowns, stringent trade restrictions, and the closure of various businesses and offices. These actions could potentially save lives in many different countries. However, they have a sizable economic impact.
It is anticipated that the global market would respond favorably, continue operations, and guarantee worker safety despite the decline in demand and the rapid increase in pricing. Even when demand for goods from important industries has slowed down, businesses can benefit from the increased demand for disinfectants, antiseptics, and personal protective equipment. The demand for the global market is also increasing due to the growing necessity for pharmaceutical items.
Market Segmentation
By Grade
Pharmaceutical grade and industrial grade are two of the market segments for heptanoic acid that are based on grade. In 2022, the industrial grade category dominated the market. Heptanoic acid is a crucial chemical intermediate in the synthesis of many compounds and substances. It serves as the starting point for the production of esters, plasticizers, and other chemicals. The growth of industries utilizing these chemical processes is what is driving the need for heptanoic acid of the industrial grade.
Ask for Customization:
https://www.marketresearchfuture.com/ask_for_customize/12089
By Application
In terms of application, the heptanoic acid market has been split into chemical synthesis, cosmetics, flavors and fragrances, lubricants, medicinal components, and other uses. In 2022, the lubricant category produced the greatest revenue. Castor oil is a natural source of heptanoic acid, which is also biodegradable. Moreover, it is sustainable. As the emphasis on ecologically friendly and sustainable lubricants rises, heptanoic acid is becoming more and more common as a component in biodegradable lubricant compositions. Because it aids in adhering to legal requirements and environmental norms, it is a desirable alternative for companies looking to reduce their environmental effect.
Regional Insights
Since 2022 (45.70%), North America has held the top place in the global market. The swift development of the local automotive sector is principally responsible for the market's progress in this region. In the United States, 1,251,600 people work at dealerships, whereas 923,000 people produce cars and their parts. In the United States, the auto and components sector brought in over USD 1.5 trillion in 2021. America's GDP is 3% derived from the automobile industry.
Discover more research Reports on Chemical Industry, by Market Research Future:
Protective Gloves Industry to Capture a CAGR of 6.70% Between 2023 and 2032 While Touching Approximately USD 33.1 Billion by 2032 – Report by Market Research Future (MRFR)
Mining Drill Bits Industry to Expand at a CAGR of 5.70%, worth USD 2.47 Billion by 2032 – Report by Market Research Future (MRFR)
Foamed Plastics Market Size to Expand at a CAGR of 5%, worth USD 82.4 Billion by 2032 – Report by Market Research Future (MRFR)
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
