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Brassylic Acid Market Growing At A Cagr Of 3.6% From 2019-2027 | Evonik Industries, Larodan Ab, Beyo Chemical Co., Ltd

Brassylic Acid

Brassylic Acid Market to Grow with Increasing Applications of Brassylic Acid in Various End-Use Industries

SEATTLE, WA, US, January 17, 2022 / -- Brassylic Acid Market to Grow with Increasing Applications of Brassylic Acid in Various End-Use Industries , Brassylic acid is a chemical intermediate that can be used in a variety of ways. The oxidative ozonolysis of erucic acid produced brassylic acids for the first time in the nineteenth century.

The global brassylic acid market was worth US$ 582.0 million in 2018, and is expected to grow at a CAGR of 3.6 percent in terms of revenue over the forecast period (2019-2027), reaching US$ 792.5 million in 2027.

Market Overview:

Brassylic acid is a white crystalline substance, slightly soluble in water, and has a melting point of 130 ยฐ C. It is used in lubricants, biological solvents, polymers, and perfumeries plasticizer production, as well as to manufacture plastics such as nylon-1313. Brassylic acid belongs to the family of organic compounds called long-chain dicarboxylic acid. It is a dibasic acid, which is available in the market in the form of powder, flakes, or in diluted form.

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Competitive Landscape:

Major players operating in the global brassylic acid market are Shanghai Kaleys Holding Co., Ltd., Nantong Senos Biotechnology Co., Ltd., Evonik Industries, Larodan Ab, Beyo Chemical Co., Ltd, Zibo Guangtong Chemical Co., Ltd., Unisource Chemicals, Palmary Chemical, and Cathay Industrial Biotech, among others.

Key Market Drivers:

Increasing demand for perfumes/fragrances around the world is expected to propel growth of the brassylic acid market during the forecast period. Brassylic acid is often used to manufacture perfumes/fragrances. For instance, in November 2021, MG International Fragrance Company and Firmenich announced the construction of a new Regional Perfumery Production Hub on the MG International campus near Istanbul, Turkey.

Moreover, increasing applications of brassylic acid in various end-use industries and increasing urbanization around the world is expected to augment the growth of the brassylic acid market. For instance, according to the United Nations, today, 55% of the worldโ€™s population lives in urban areas, a proportion that is expected to increase to 68% by 2050. The most urbanized regions include Northern America, Latin America, Europe, Oceania, Asia, and Africa.

COVID-19 Impact Analysis:

With the COVID-19 outbreak, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues. However, fragrances became an affordable luxury during the pandemic, leading to the biggest boom in sales in years. Brassylic acid is widely used to produce synthetic musk used in the fragrance industry. This in turn is expected to increase the demand for brassylic acid, driving the growth of the market.

Key Takeaways:

The brassylic acid market is expected to exhibit a CAGR 3.6 % of during the forecast period owing to the increasing demand for lubricants and adhesives. For instance, in 2019, the global demand for lubricants amounted to nearly 37 million metric tons.

Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the brassylic acid market due to the increasing industrialization and urbanization and rise in applications of brassylic acid in various end-use industries, such as perfumes, personal care, cosmetics, and homecare, among others. For instance, In January 2019, Gucci launched a new fragrance line called โ€˜The Alchemistโ€™s Garden,โ€™ which features seven perfumes, three scented water products, and four perfumed oils, each representing a different Gucci embodiment.

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ยป Technological Progress

ยป Detailed Report

ยป Historical and Current Scenarios

ยป Prospects for Market Growth

ยป A Broad Range of Products

ยป High Concentration of Industry

ยป The Business Cycle

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Finally, the report includes a growth strategy for the industry, a data source, research findings, an appendix, and a conclusion. To deconstruct the market, the report looks at the manufacturing process, market competitors, seller and merchant classification, innovation implementation, and business growth strategies. Customers' concerns about future plans and actions to compete with other market participants will be alleviated by all of these details. The latest market gains are also displayed.

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โœค By focusing on the world's major manufacturers, SWOT Analysis is used to define, assess, and analyse market competition. By type, application, and region, the market is defined, described, and forecasted.

โœค Examine the global and major regional markets' potential and advantages, as well as the opportunities and challenges, as well as the constraints and risks.

โœค Determine whether trends and factors are assisting or hindering market growth.

โœค By identifying high-growth categories, stakeholders will be able to assess market potential.

โœค Perform a strategic analysis of each submarket's growth trends and market contribution.

โœค Expansions, agreements, new product launches, and acquisitions are all examples of competitive developments in the market.

โœค To create a strategic profile of the major players and to investigate their growth strategies in depth.

๐Š๐ž๐ฒ ๐๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐€๐๐๐ซ๐ž๐ฌ๐ฌ๐ž๐:

โœ” What innovative technology trends should we expect in the next seven years?
โœ” Which sub-segment do you think will grow the most in the coming years?
โœ” Which region is expected to have the largest market share by 2028?
โœ” In order to gain market share, what organic and inorganic strategies are companies using?

The following are some of the most important motives to purchase the Brassylic Acid Market Report:

โžธ The report is jam-packed with information, including market trends and forecasts.

โžธ Quantitative, qualitative, value (USD Million), and volume (Units Million) data are included in the report's segments and sub-segments.

โžธ Data on demand and supply forces, as well as their effects on the market, can be found at the regional, sub-regional, and country levels.

โžธ As a result of new developments, strategies, and market share gains by key players, the competitive landscape has shifted dramatically in the last three years.

โžธ Companies that provide a wide range of services, such as financial data, news, SWOT analyses, and strategy development.

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