Introduction: Azelaic Acid Market
Azelaic acid is an organic compound with molecular formula C9H16O4 saturated dicarboxylic acid and it exits as a powder. The azelaic acid has significant biological activities and is found in daily food products such as, barley, wheat, rye. Azelaic acid is an inhibitor of enzymes in respiratory chain and as well as for DNA synthesis. Azelaic acid is manufactured from the oleic acid in the presence of ozone which acts as a catalyst during the reaction. During the reaction, the by-product produced is called as nonanoic acid. The application of the azelaic acid in the pharmaceutical industry plays an important role for the treatment of the acne. Azelaic acid kills the bacteria which can affect the skin as well as it reduces production of the keratin which is responsible for the acne bacteria. Along with the pharmaceutical industry, it also works significantly polymer and related industrial materials.
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Market Dynamics: Azelaic Acid Market
Therapeutic properties of azelaic acid are being increasingly capitalized by end use industry. Azelaic acid is used a detoxifying agent in combination with the other raw materials. It is also helpful in acne and used for personal care application. Owing to these and other several benefits, azelaic acid market is expected to gain traction in the market in the coming years. In personal care industry, azelaic acid is often used a clarifying agent in the preparation of cream and ointments. It is also used as an aroma compound in soft drinks. Azelaic acid present in barley is of the most significant use, as it naturally acts a clarifying agent in preparation of wines. Owing to these factors, azelaic acid finds prodigious application in personal care as well as in food industry, owing to which azelaic acid market is expected to exhibit robust growth in between the forecast period.
The high content of azelaic acid in personal care and pharmaceuticals products is unsafe to consume, which could impede the trajectory of the azelaic acid market during the forecast period. Also, fluctuating prices of azelaic acid could also possibly hamper the sales of azelaic acid market. The increasing growth in the end use industries is expected to create trend for the azelaic acid market in the near future.
Market Segmentation: Azelaic Acid Market
Azelaic acid market is segmented on the basis of grade and application
On the basis of grade, the azelaic acid market segmented as
- Pharmaceutical
- Polymer
- Technical
On the basis of application, the heavy fuel oil market is segmented as
- Lubricants
- Plastics
- Electronics
- Pharmaceuticals
- Personal Care
- Others
Regional Outlook: Azelaic Acid Market
Region outlook of azelaic acid estimated that, the consumption in North America is anticipated to retain a prime position in the market by the end of the forecast period touching a market share of approximately more than twenty percent in terms of volume. Europe region is closely followed by North America in terms of volume. Key players operating in the azelaic acid market can seek potential opportunities from the North America and European leading countries such as, the U.S., Germany, France, etc. owing to numerous opportunities from the end use industries taking place pertaining to this treatment. Several mergers and acquisitions are also expected to take place between the core players operating in these regions in the coming forecast period. Key players can also find lucrative opportunities in the Asia Pacific, especially from China and India. China is anticipated to expand at a significant CAGR in between the forecast period followed by India. The Middle East & Africa market is expected to create sluggish growth in the market as compared to the Latin America region.
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Some of the key players of the azelaic acid market are the
- BASF
- Matrica
- Croda Sipo
- Emery Oleochemicals
- Nantong Hengxing Electronic Materials
- Jiangsu Senxuan
- Ninghai Zhonglong
- Hubei Tuochu