- Growing applications in multiple industries expanding profitable opportunities for companies in heptanoic acid market; growing demand in cosmetics & personal care industry to create new revenue streams
- Rise in application as lubricant in automotive industry presents value-grab opportunities; Asia Pacific market to offer enormous lucrative avenues to manufacturers
ALBANY, N.Y., June 16, 2022 /PRNewswire/ — The use of heptanoic acid in myriad applications is underpinned by the uptake of products in the automotive, food & beverages, aerospace, chemicals, pharmaceuticals, and cosmetics & personal care industries. Chemical manufacturers in the heptanoic acid are tapping into the steady revenues from the substantial demand for lubricants in the automobile and aerospace industries. The global valuation of the heptanoic acid market is projected to reach US$ 4 Bn by 2031.
End-use industries have gained from the attractive characteristics of heptanoic acid notably its high thermal stability, resistance to oxidation, and low viscosity at low temperature. The sales in the heptanoic acid market have thrived from commercial applications the products for production of special lubricants for aircrafts and brake fluids and in fragrances industry. Furthermore, rising application in formulating metalworking fluids is generating profitable opportunities, find the authors of the TMR study on the heptanoic acid market.
Rise in use of heptanoic acid in personal care and cosmetics industry, supported by increasing eco-friendliness and purity of the chemical. It is suitable for both water-based formulations and oil-based ones. Key grades offered by chemical companies in the heptanoic acid market comprise pharmaceutical grade, food grade, and industrial grade.
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Key Findings of Heptanoic Acid Market Study
- Widespread Use as Automobile and Industrial Lubricants Driving Abundant Opportunities: Growing production of vehicles in response to rising consumer demand has spurred the application of heptanoic acid as lubricant. The application segment is a remarkable lucrative one, assert the authors of the TMR study on the heptanoic acid market. Moreover, rising demand for esters for manufacture of industrial lubricants has propelled the utilization of products. It is notably used as a special lubricant for brake fluids.
- Applications in Personal Care Industry Offering Value-grab Opportunities: Widespread use of the products as perfuming agent in cosmetics has underpinned the revenue growth of the heptanoic acid market. The application of heptanoic acid has risen in cosmetics & personal care industry on the back of the massive demand for cosmetics globally. Of note, the use of the chemical in sustainable vegetable-based & natural cosmetics has unlocked a new revenue in the heptanoic acid market. Stridently, its use as skin-conditioning agent is reinforcing the revenue sales. In addition to abundant demand in the cosmetics industry, demand for food-grade heptanoic acid has grown commercially, boosting the market valuation, notes an in-depth TMR study on the heptanoic acid market.
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Heptanoic Acid Market: Key Drivers
- Growing trend of adoption of environmentally friendly ingredients in flavor & fragrance industries has propelled the demand for heptanoic acid as a key ingredient in various applications
- Strides made in automobile production to meet the rising global demand for vehicles is a key driver of the heptanoic acid market
Heptanoic Acid Market: Regional Growth Dynamics
- Asia Pacific held a leading share of the global heptanoic acid market in 2020. The presence of several players who are keenly expanding their production volumes has spurred the revenue potential of the Asia Pacific heptanoic acid market.
- Europe is a potentially lucrative market. A major chunk of demand comes from the tire industry. In addition, abundant demand in various end-use industries in Germany and France have fueled the revenue generation in the Europe heptanoic acid market.
Heptanoic Acid Market: Key Players
Some of the prominent companies in the heptanoic acid market are Kalpsutra Chemicals Pvt. Ltd., OQ Chemicals GmbH, Akshar Chemicals, Merck KGaA, Acme Synthetic Chemicals, and Arkema.
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Global Heptanoic Acid Market: Segmentation
Heptanoic Acid Market, by Grade
- Pharmaceutical Grade
- Food Grade
- Industrial Grade
Heptanoic Acid Market, by Application
- Flavors & Fragrances
- Cosmetic Applications
- Anti-corrosion Applications
- Chemical Intermediates
- Pharmaceutical Ingredients
Heptanoic Acid Market, by End-use
- Food & Beverage
- Cosmetics & Personal Care
Heptanoic Acid Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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