by The global Brassylic Acid Market is estimated to be valued at US$ 716.7 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Brassylic acid is a dicarboxylic acid that occurs in castor oil. It is produced commercially by the oxidative cleavage of oleic acid or erucic acid. Brassylic acid is used to make polyamides, polyurethanes, lubricants, oil additives, coatings and other products. Its unique molecular structure provides advantages like corrosion resistance, biodegradability and flexibility.
Market key trends:
One of the key trends in the Brassylic Acid Market is growing demand from the nylon industry. Brassylic acid is used to produce nylon-6,10 which has high strength, good chemical resistance and flexibility. Properties like high melting point, dimensional stability and fatigue resistance of nylon-6,10 has increased its use in automotive and electrical industries for making parts, cables and wires. Its high degradation temperature also makes it suitable for industrial applications involving high heat. The growth of end use industries is expected to drive the demand for nylon-6,10 made from brassylic acid during the forecast period.
Segment Analysis
The global brassylic acid market is dominated by the plastics and polymers segment. This segment accounted for over 55% share of the global market in 2023 owing to the widespread applications of brassylic acid in manufacturing polyesters, nylon, and polyurethanes. Brassylic acid acts as an intermediate in producing these polymers and finds use as a monomer or dimer in various plastic formulations.
Key Takeaways
The Global Brassylic Acid Market Demand is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing demand from the plastics and polymers industry.
The Asia Pacific region dominated the global market in 2023 and is expected to maintain its leading position during the forecast period as well. Growing plastic production in China, India, and other Asian countries is driving the demand for brassylic acid in this region.
The global brassylic acid market size reached US$ 716.7 Mn in 2023. The market is projected to reach nearly US$ 1,045 Mn by 2030, expanding at a CAGR of 4.8% during 2023-2030.
Key players operating in the brassylic acid market are Cathay Industrial Biotech, Palmary Chemical, Unisource Chemicals Pvt. Ltd., Zibo Guangtong Chemical Co., Ltd., Beyo Chemical Co., Ltd, Larodan Ab, Evonik Industries, Nantong Senos Biotechnology Co., Ltd., and Shanghai Kaleys Holding Co., Ltd.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
