Heptanoic Acid Global Market Report 2024

The global heptanoic acid market has grown steadily in recent years. It will grow from $2.95 billion in 2023 to $3.03 billion in 2024 at a compound annual growth rate (CAGR) of 2.7%. The growth in the historic period can be attributed to increase in pharmaceutical industry, increase in chemical industry, demand for textile industry, research and development.

The global heptanoic acid market is expected to see steady growth in the next few years. It will grow to $3.4 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to rising demand from the cosmetic and personal care industry, expansion of the processing industry, increasing demand for lubricants, growing automotive industry. Major trends in the forecast period include technological advancements in production processes, continued relevance in agriculture, innovations in cosmetics and personal care, surfactants and detergents.

The heptanoic acid market is experiencing a substantial surge, propelled by the increasing demand for cosmetic products. Cosmetics encompass a range of products and procedures aimed at enhancing or improving the appearance of various body parts like the face, skin, hair, and nails. Heptanoic acid, a chemical compound derived from natural sources like coconut oil, plays a pivotal role in cosmetic production. It serves as an emollient, skin conditioning agent, and fragrance ingredient in various cosmetic formulations. For instance, in February 2023, L'Oréal S.A., a renowned personal care company based in France, reported a significant increase in sales for consumer products, marking a growth from 11.8% to 14.6%, and for active cosmetics, from 28.0% to 30.6% from the 4th quarter of 2022 to December 31, 2022. The dermatological beauty division witnessed exceptional growth with an impressive +21.9% like-for-like and +30.6% based on reported figures. This underscores the substantial impact of the rising demand for cosmetic products on the heptanoic acid market's growth trajectory.

The flourishing cosmetics industry is anticipated to be a driving force behind the growth of the heptanoic acid market in the foreseeable future. This industry encompasses the creation and distribution of various beauty and personal care products, ranging from skincare and makeup to fragrances and hair care items. Heptanoic acid serves as a vital fragrance ingredient within this sector, imparting a delightful scent to a wide array of personal care items. For instance, according to the Cosmetic, Toiletry, and Perfumery Association's 2022 Annual Report, published in the UK, the sales of fragrance in the UK are projected to reach 71,544,000 units in 2022, up from 70,766,000 units in 2021. Additionally, the sales of color cosmetics are estimated to total 118,172,000 units in 2022, compared to 112,257,000 units in the preceding year. These statistics underscore the pivotal role of the cosmetics industry in driving the heptanoic acid market.

Major players in the heptanoic acid market are Thermo Fisher Scientific Inc., INEOS Group Limited, International Flavors & Fragrances Inc., Arkema S.A., Lanxess AG, EMD Millipore Corporation, VWR International LLC, OQ Chemicals GmbH, Sigma-Aldrich Corp, Alfa Aesar GmbH & Co. KG, MP Biomedicals LLC, Spectrum Chemical Mfg. Corp., Cayman Chemical Company, Tokyo Chemical Industries Co.Ltd., Santa Cruz Biotechnology Inc., Synerzine Inc., Chem-Impex International Inc., Central Drug House (P) Ltd., Larodan AB, VIVAN Life Sciences Pvt Ltd., Kalpasutra Chemical Pvt. Ltd., Seqens Group, Akshay Chemicals Private Limited, The Good Scents Company, Acme Synthetic Chemicals, Wujiang New Sunlion Chemical Co. Ltd., Intellichemie Industries LLP, Jinan Chenghui Shuangda Chemical Co. Ltd., Neuchatel Chemie Specialties.

The ongoing Russia-Ukraine war has introduced significant disruptions in the heptanoic acid market's trajectory. This conflict encompasses naval incidents, cyber warfare, and escalated political tensions between Russia and Ukraine. The war has notably heightened concerns over the destruction of chemical plants, potentially leading to far-reaching consequences for the production of heptanoic acid and other chemical compounds. For instance, as reported by Chemical World in June 2023, the conflict in eastern Ukraine poses a looming threat of a catastrophic chemical disaster. Fierce combat in the Donbas region has already resulted in the destruction of several chemical plants. Consequently, the Russia-Ukraine war acts as a hindrance to the growth of the heptanoic acid market.

In August 2021, the German-based chemicals company, Lanxess AG, completed the acquisition of Emerald Kalama Chemical BV for a total of $1.04 billion. This strategic move has significantly bolstered Lanxess' portfolio, particularly within the plastics, paints and coatings, and adhesives industries. Emerald Kalama Chemical, the acquired company, is headquartered in the Netherlands and is recognized for its expertise in the chemical sector.

Heptanoic Acid Market Thrives with Automotive Industry Growth

Asia-Pacific was the largest region in the heptanoic acid market in 2023. The regions covered in heptanoic acid report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the heptanoic acid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

There are three primary grades of heptanoic acid such as pharmaceutical grade, industrial grade, and food grade. The term pharmaceutical grade denotes a standard of purity and quality established by regulatory bodies such as the United States Food and Drug Administration (FDA) or the United States Pharmacopeia (USP) for substances like drugs, biologics, reagents, and other materials sanctioned for human or animal consumption. Primary grades of heptanoic acid include pharmaceutical grade, industrial grade, and food grade.

This report provides heptanoic acid market statistics, including heptanoic acid industry global market size, regional shares, competitors with a heptanoic acid market share, detailed heptanoic acid market segments, market trends and opportunities and any further data you may need to thrive in the heptanoic acid industry. This heptanoic acid market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The heptanoic acid market consists of sales of adhesives, fragrances, artificial flavors and cosmetics and sealants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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